Common use of Expense Reimbursements and In-Kind Benefits Clause in Contracts

Expense Reimbursements and In-Kind Benefits. To the extent that any expense reimbursement or in-kind benefit is subject to Section 409A (e.g., the expense reimbursement is includible in income and is not required to be paid by the end of the “applicable 21/2-month period” described in Treas. Reg. § 1.409A-1(b)(4)(i)(A)), such reimbursement or benefit shall be subject to the conditions set forth in Treas. Reg. § 1.409A-3(i)(1)(iv). Accordingly: (i) The amount of such expenses eligible for reimbursement, or in-kind benefits provided, during a taxable year of Executive shall not affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other taxable year; (ii) The reimbursement of each such expense shall be paid no later than the last day of Executive’s taxable year next following the taxable year in which the expense was incurred; and (iii) The right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit.

Expense Reimbursements and In-Kind Benefits. To the extent that any expense reimbursement or in-kind benefit is subject to Section 409A (e.g., the expense reimbursement is includible in income and is not required to be paid by the end of the “applicable 21/2-month 2½-month period” described in Treas. Reg. § 1.409A-1(b)(4)(i)(A)), such reimbursement or benefit shall be subject to the conditions set forth in Treas. Reg. § 1.409A-3(i)(1)(iv). Accordingly: (i) The amount of such expenses eligible for reimbursement, or in-kind benefits provided, during a taxable year of Executive shall not affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other taxable year; (ii) The reimbursement of each such expense shall be paid no later than the last day of Executive’s 's taxable year next following the taxable year in which the expense was incurred; and (iii) The right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit.

Expense Reimbursements and In-Kind Benefits. To the extent that any expense reimbursement or in-kind benefit is subject to Section 409A (e.g., the expense reimbursement is includible in income and is not required to be paid by the end of the “applicable 21/2-month 2½-month period” described in Treas. Reg. § 1.409A-1(b)(4)(i)(A)), such reimbursement or benefit shall be subject to the conditions set forth in Treas. Reg. § 1.409A-3(i)(1)(iv). Accordingly: (i) The amount of such expenses eligible for reimbursement, or in-kind benefits provided, during a taxable year of Executive the Officer shall not affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other taxable year; (ii) The reimbursement of each such expense shall be paid no later than the last day of Executivethe Officer’s taxable year next following the taxable year in which the expense was incurred; and (iii) The right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit.

Expense Reimbursements and In-Kind Benefits. To the extent that any expense reimbursement or in-kind benefit is subject to Section 409A (e.g., the expense reimbursement is includible in income and is not required to be paid by the end of the “applicable 21/2-month period” described in Treas. Reg. § 1.409A-1(b)(4)(i)(A)), such reimbursement or benefit shall be subject to the conditions set forth in Treas. Reg. § 1.409A-3(i)(1)(iv). Accordingly: (i) The amount of such expenses eligible for reimbursement, or in-kind benefits provided, during a taxable year of Executive the Officer shall not affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other taxable year; (ii) The reimbursement of each such expense shall be paid no later than the last day of Executivethe Officer’s taxable year next following the taxable year in which the expense was incurred; and (iii) The right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit.