Common use of EMPLOYMENT COMPENSATION & BENEFITS Clause in Contracts

EMPLOYMENT COMPENSATION & BENEFITS. 2.01 As compensation for all services rendered under this Agreement, Xxxxxx shall be paid by Company a salary of $206,726.04 per year or any greater amount of compensation including bonuses, fees and deferred compensation authorized by the wage and salary plan or policies authorized by the Company’s Board of Directors, together with an annual salary adjustment in an amount at least equal to any approved across the board salary adjustments for all employees. 2.02 Xxxxxx’x duties require that he shall have the exclusive and unrestricted use at all times during his employment with the Company of an automobile provided for him by the Company. The Company shall be responsible for paying for liability, property damage, and comprehensive insurance and for the purchase, operation, maintenance, repair and replacement of said automobile. 2.03 Xxxxxx shall receive the same annual leave and sick leave and all other benefits as are accorded regular full-time employees of Cap Rock Energy Corporation including provisions governing accrual and payment therefore on early retirement or other methods of employment. 2.04 Subject to the above paragraph 2.03, all provisions of the Company’s rules and regulations relating to annual leave(vacation), sick leave, early retirement, insurance, savings, deferred compensation, bonuses, pension program contributions, holiday and other fringe benefits and working conditions approved by the Board of Directors as they now exist or hereafter may be amended, shall apply to Xxxxxx as they would to other employees of the Company. However, Xxxxxx, at his option, can elect to invest the Company’s annual expenses of Xxxxxx’x retirement plan in any chosen and Board approved separate plan that provides for at least the same security for both the Company and Xxxxxx. 2.05 Because Xxxxxx’x duties will from time to time require him to work outside of, and in addition to, the Company’s established normal work week, work days and work hours, Xxxxxx shall be allowed to take compensatory time off.

EMPLOYMENT COMPENSATION & BENEFITS. 2.01 As compensation for all services rendered under this Agreement, Xxxxxx shall be paid by Company Cooperative a salary of $206,726.04 104,000 per year or any greater amount of compensation including bonuses, fees and deferred compensation authorized by the wage and salary plan or policies authorized by the Company’s Cooperative's Board of Directors, together with an annual salary adjustment in an amount at least equal to any approved across the board salary adjustments for all employees. 2.02 Xxxxxx’x Xxxxxx'x duties require that he shall have the exclusive and unrestricted use at all times during his employment with the Company Cooperative of an automobile provided for him by the CompanyCooperative. The Company Cooperative shall be responsible for paying for liability, property damage, and comprehensive insurance and for the purchase, operation, maintenance, repair and replacement of said automobile. 2.03 Xxxxxx shall receive the same annual leave and sick leave and all other benefits as are accorded regular full-time employees of Cap Rock Energy Corporation Electric Cooperative, Inc. including provisions governing accrual and payment therefore on early retirement or other methods of employment. 2.04 Subject to the above paragraph 2.03, all provisions of the Company’s Cooperative's rules and regulations relating to annual leave(vacationleave (vacation), sick leave, early retirement, insurance, savings, deferred compensation, bonuses, pension program contributions, holiday and other fringe benefits and working conditions approved by the Board of Directors as they now exist or hereafter may be amended, shall apply to Xxxxxx as they would to other employees of the CompanyCooperative. However, Xxxxxx, at his option, can elect to invest the Company’s Cooperative's annual expenses of Xxxxxx’x Xxxxxx'x retirement plan in any chosen and Board approved separate plan that provides for at least the same security for both the Company Cooperative and Xxxxxx. 2.05 Because Xxxxxx’x Xxxxxx'x duties will from time to time require him to work outside of, and in addition to, the Company’s Cooperative's established normal work week, work days and work hours, Xxxxxx shall be allowed to take compensatory time off.

EMPLOYMENT COMPENSATION & BENEFITS. 2.01 As compensation for all services rendered under this Agreement, Xxxxxx Xxxxx shall be paid by Company a salary of $206,726.04 160,000.00 per year year, or any greater amount of compensation including bonuses, fees bonuses and deferred compensation authorized by the wage and salary plan or board policies authorized by the Company’s Board of Directors, together with an annual salary adjustment in an amount at least equal to any approved across the board salary adjustments for all employees. 2.02 Xxxxxx’x duties require that he Xxxxx shall have the exclusive and unrestricted use at all times during his receive three weeks of vacation (annual leave), available immediately upon her employment with the Company of an automobile provided for him by the Company. The Company shall be responsible for paying for liability, property damagepursuant to this Agreement, and comprehensive insurance and for the purchase, operation, maintenance, repair and replacement of said automobile. 2.03 Xxxxxx shall receive the same annual leave and sick leave and all other benefits as are accorded regular full-time employees of Cap Rock Energy Corporation the Company including provisions governing accrual and payment therefore thereof on early retirement or other methods of employmentemployment as set forth in the Company’s employee policies. 2.04 2.03 Subject to the above paragraph 2.032.02, all provisions of the Company’s rules and regulations relating to annual leave(vacationleave (vacation, 3 weeks per year), sick leave, early retirement, insurance, savings, deferred compensation, bonuses, pension program contributions, holiday holiday, stock options as available and appropriate for her responsibility and experience and other fringe benefits and working conditions approved by the Board of Directors as they now exist or hereafter may be amended, shall apply to Xxxxxx Xxxxx as they would to other employees of the Company. HoweverNotwithstanding the foregoing however, XxxxxxXxxxx may, at his her option, can elect to invest be covered under or participate in the Company’s annual expenses of Xxxxxx’x retirement plan in any chosen and Board approved separate plan that provides for at least the same security for both the Company and Xxxxxxemployee benefit plans as though she were hired prior to May 1, 2002. 2.05 2.04 Because Xxxxxx’x Xxxxx’x duties will from time to time require him her to work outside of, and in addition to, the Company’s established normal work weekworkweek, work days and work hours, Xxxxxx Xxxxx shall be allowed to take compensatory time off. 2.05 Company will reimburse Xxxxx for professional dues and continuing education requirements, including the cost of meeting CPA continuing education requirements.. 2.06 Company will pay Xxxxx a signing bonus of $5,000.00 (net after taxes, FICA and medicare at the maximum withholding rate are deducted) 2.07 Company will pay Xxxxx’x reasonable expenses to include living expenses while living in Midland on a temporary basis prior to moving her permanent residence to the Midland area as soon as practical after May 2006. The Company will be flexible in accommodating her commute in the interim and provide Xxxxx with a reasonably priced furnished apartment and a vehicle in Midland and Xxxxx will use her professional judgment in allocating her time between her home office in Fort Worth and her Midland office. The Company further agrees to pay Xxxxx’x moving expenses as follows: Out of pocket costs of reasonable house hunting trips for her and her spouse and of moving household contents and automobiles (at least two bids submitted), pets and family members.

EMPLOYMENT COMPENSATION & BENEFITS. 2.01 As compensation for all services rendered under this Agreement, Xxxxxx Pruitt shall be paid by Company a salary x xxxary of $206,726.04 per year or any greater amount of compensation including bonuses, fees and deferred compensation authorized by the wage and salary plan or policies authorized by the Company’s 's Board of Directors, together with an annual salary adjustment in an amount at least equal to any approved across the board salary adjustments for all employees. 2.02 Xxxxxx’x Pruitt's duties require that he shall have xxxxx xave the exclusive and unrestricted use at all times during his employment with the Company of an automobile provided for him by the Company. The Company shall be responsible for paying for liability, property damage, and comprehensive insurance and for the purchase, operation, maintenance, repair and replacement of said automobile. 2.03 Xxxxxx Pruitt shall receive the same annual axxxxx leave and sick leave and all other benefits as are accorded regular full-time employees of Cap Rock Energy Corporation including provisions governing accrual and payment therefore on early retirement or other methods of employment. 2.04 Subject to the above paragraph 2.03, all provisions of the Company’s 's rules and regulations relating to annual leave(vacationleave (vacation), sick leave, early retirement, insurance, savings, deferred compensation, bonuses, pension program contributions, holiday and other fringe benefits and working conditions approved by the Board of Directors as they now exist or hereafter may be amended, shall apply to Xxxxxx Pruitt as they would to other employees exxxxxxes of the Company. However, XxxxxxPruitt, at his option, can elect to invest elecx xx xnvest the Company’s 's annual expenses of Xxxxxx’x Pruitt's retirement plan in any chosen xxxxxx and Board approved separate plan that provides for at least the same security for both the Company and XxxxxxPruitt. 2.05 Because Xxxxxx’x duties Pruitt'x xxxxes will from time to time xx xxxx require him to work outside of, and in addition to, the Company’s 's established normal work week, work days and work hours, Xxxxxx Pruitt shall be allowed to take compensatory xxxxxnsatory time off.