Common use of Duties and Compensation of Additional Manager Clause in Contracts

Duties and Compensation of Additional Manager. Each individual appointed as an Additional Manager shall perform broker and related services for the Company as set forth in any Joint Resolutions. Each Additional Manager shall devote such time to the Company and the Business as is appropriate to conduct the Business and to fulfill his/her obligations under this Agreement in an effective manner, but shall not be required to devote his/her full time efforts to the Company. No Additional Manager shall be entitled to compensation or reimbursement of expenses from the Company unless the amounts of any such compensation or reimbursement are approved by Manager and Member. The Additional Manager shall have no right to participate in distributions from the Company and shall not be treated as a member of the Company for any purpose. The Additional Manager shall have no right to inspect the books or records of the Company, and the Company shall be under no obligation to provide reports of any kind or nature relating to the Company or its business to the Additional Manager.

Duties and Compensation of Additional Manager. Each individual appointed as an Additional Manager shall perform act as an independent contractor of the Company in performing broker and related services for the Company. The terms and conditions of such engagement shall be set forth in an independent contractor agreement in a form approved by Meritage on behalf of the Company (an “Independent Contractor Agreement”). The Additional Manager shall receive compensation from the Company solely as set forth in any Joint Resolutions. Each Additional Manager shall devote such time to the Company Independent Contractor Agreement and the Business as is appropriate to conduct the Business and to fulfill his/her obligations under this Agreement in an effective manner, but shall not be required to devote his/her full time efforts to the Company. No Additional Manager shall otherwise be entitled to any payment, reimbursement, or compensation or reimbursement of expenses from the Company unless for its service as an Additional Manager or as the amounts designated broker of any such compensation or reimbursement are approved by Manager and Memberthe Company. The Additional Manager shall have no right to participate in distributions from the Company and shall not be treated as a member of the Company for any purpose. The Additional Manager shall have no right to inspect the books or records of the Company, and the Company shall be under no obligation to provide reports of any kind or nature relating to the Company or its business to the Additional Manager.

Duties and Compensation of Additional Manager. Each individual appointed as an Additional Manager shall perform broker and related services for the Company as set forth in any Joint joint Resolutions. Each Additional Manager shall devote such time to the Company and the Business as is appropriate to conduct the Business and to fulfill his/her obligations under this Agreement in an effective manner, but shall not be required to devote his/her full time efforts to the Company. No Additional Manager shall be entitled to compensation or reimbursement of expenses from the Company unless the amounts of any such compensation or reimbursement are approved by Manager and Memberthe Manager. The Additional Manager shall have no right to participate in distributions from the Company and shall not be treated as a member of the Company for any purpose. The Additional Manager shall have no right to inspect the books or records of the Company, and the Company shall be under no obligation to provide reports of any kind or nature relating to the Company or its business to the Additional Manager.