Expenses and Benefits Clause Samples
The "Expenses and Benefits" clause defines how costs incurred and benefits received during the course of an agreement are to be handled between the parties. It typically outlines which party is responsible for specific expenses, such as travel, materials, or third-party services, and may also address the allocation of any perks or advantages gained as a result of the agreement. This clause ensures transparency and prevents disputes by clearly delineating financial responsibilities and entitlements related to the contract.
Expenses and Benefits. (a) During his employment hereunder, Executive is authorized to incur reasonable and appropriate expenses related to the business of Luby's, including expenses for entertainment, travel, and similar matters. Luby's will reimburse Executive for such expenses upon presentation by Executive of such accounts and records as Luby's may from time to time reasonably require.
(b) Luby's also agrees to provide Executive with the following benefits during his employment hereunder:
Expenses and Benefits. (a) The Company shall, consistent with its policy of reporting and reimbursement of business expenses, reimburse Executive for such ordinary and necessary business related expenses as shall be incurred by Executive in the course of the performance of his duties under this Agreement.
(b) Executive shall be eligible to participate to the extent that he qualifies in all benefit plans, including without limitation, pension, term life insurance, hospitalization, medical insurance and disability plans as are made available from time-to time to executives of the Company.
(c) Executive shall be entitled to four weeks of paid vacation annually, which shall be taken in accordance with the procedures of the Company in effect from time-to-time.
Expenses and Benefits. (a) Employee shall be entitled to reimbursement for all reasonable and ordinary expenses incurred by Employee in the course of, and directly related to, the rendering of services pursuant to this Agreement in accordance with the Company’s policies for reimbursement of such expenses, and the limitations thereon, that are in effect at the time such expenses are incurred. Such expenses shall be supported by reasonable documentation and accepted standards and rules that the Company will put into place from time to time.
(b) During his employment under this Agreement, Employee shall be entitled to participate in or receive benefits under the Company’s medical, health, disability, retirement, welfare and insurance plans and arrangements then in effect and generally made available from time to time to the management employees of the Company, subject to and on a basis consistent with the terms, conditions and overall administration of such plans and arrangements.
(c) Employee shall be entitled to twenty (20) days of paid vacation each year during the Term. Such vacation time shall accrue and cumulate in accordance with the Company’s vacation policy.
(d) Employee shall be elected as a Director of the Company and any Company subsidiaries, subject to the approval of the Company’s stockholders, to serve in such capacity until the expiration or termination of this Agreement. The Company agrees to use its reasonable efforts to procure all of these approvals.
(e) Upon Employee’s completion of five (5) years of full-time continuous employment with the Company, Employee shall be entitled to a paid sabbatical for a period of up to six (6) weeks.
(f) Employee shall be entitled to reimbursement of legal expenses incurred by Employee in the event any entity institutes legal action against Employee based on Employee entering into this Agreement and/or related to Employee’s efforts as an employee or member of the Board of Directors of the Company. The contents of this section shall in no way limit indemnification provisions contained in other agreements or documents of the Company.
Expenses and Benefits. Employee is authorized to incur reasonable expenses in connection with the business of Employer, including expenses for entertainment, travel and similar matters. Employer will reimburse Employee for such expenses upon presentation by Employee of such accounts and records as Employer shall, from time to time, require. Employer also agrees to provide Employee with the following benefits:
Expenses and Benefits. (a) Employee shall be entitled to reimbursement for all reasonable and ordinary expenses incurred by Employee in the course of, and directly related to, the rendering of services pursuant to this Agreement in accordance with the Company’s policies for reimbursement of such expenses, and the limitations thereon, that are in effect at the time such expenses are incurred. Such expenses shall be supported by reasonable documentation and accepted standards and rules that the Company will put into place from time to time.
(b) During his employment under this Agreement, Employee shall be entitled to participate in or receive benefits under the Company’s medical, health, disability, retirement, welfare, and insurance plans then in effect and generally made available from time to time to the management employees of the Company, subject to and on a basis consistent with the terms, conditions and overall administration of such plans and arrangements.
(c) Employee shall be entitled to twenty (20) days of paid vacation each 12-month period during the Term. Such vacation time shall accrue and cumulate in accordance with the Company’s vacation policy.
Expenses and Benefits. USPI agrees to provide Employee with the following benefits:
Expenses and Benefits. Section 5(c)(ii) of the First Amended Agreement is amended to read as follows:
Expenses and Benefits. (a) Auto shall reimburse ▇▇. ▇▇▇▇▇▇▇▇▇▇ for all reasonable out-of-pocket expenses incurred by him in connection with the performance of his duties hereunder, including, without limitation, expenses in connection with cellular telephone or other wireless communications, travel and entertainment, upon presentation of appropriate documentation therefore. Subject to the foregoing, ▇▇. ▇▇▇▇▇▇▇▇▇▇ will be entitled to business-class travel and accommodations while traveling in connection with Auto’s business.
(b) Auto recognizes that ▇▇. ▇▇▇▇▇▇▇▇▇▇ will be required to incur significant travel in rendering services to Auto hereunder and in connection therewith Auto shall, during the Employment Term, provide ▇▇. ▇▇▇▇▇▇▇▇▇▇ with an automobile allowance of $1,500 per month which the parties agree shall be used to pay all of the expenses associated with the operation of an automobile including, without limitation, maintenance, repair and insurance costs.
(c) ▇▇. ▇▇▇▇▇▇▇▇▇▇ shall be entitled to participate, to the extent he qualifies, in such life insurance, hospitalization, disability and other medical insurance plans or programs as are generally made available to executive officers of Auto.
(d) ▇▇. ▇▇▇▇▇▇▇▇▇▇ shall be entitled to participate, subject to classification requirements, in other benefit plans, such as pension, stock purchase, stock option, savings, bonus and profit sharing plans, which are from time to time applicable to Auto’s executive officers.
(e) During the Employment Term, ▇▇. ▇▇▇▇▇▇▇▇▇▇ shall be entitled to four (4) weeks of fully paid vacation per annum. ▇▇. ▇▇▇▇▇▇▇▇▇▇ will be entitled to his regular compensation on all regularly scheduled Auto holidays.
(f) Auto shall indemnify ▇▇. ▇▇▇▇▇▇▇▇▇▇ (and his legal representatives or other successors) to the fullest extent permitted by the laws of the State of Delaware and its existing certificate of incorporation and by-laws, and ▇▇. ▇▇▇▇▇▇▇▇▇▇ shall be entitled to the protection of any insurance policies Auto may elect to maintain generally for the benefit of its officers and/or executives, against all costs, charges and expenses whatsoever incurred or sustained by him (or his legal representatives or other successors) in connection with any action, suit or proceeding to which he (or his legal representatives or other successors) may be made a party by reason of his being or having been an officer and/or executive of Auto and its subsidiaries and affiliates. Collectively, the items referred to in parag...
Expenses and Benefits. ▇▇▇▇▇▇▇▇▇ is authorized to incur reasonable expenses in connection with the business of the Company, including expenses for entertainment, travel and similar matters. The Company will reimburse ▇▇▇▇▇▇▇▇▇ for such expenses upon presentation by ▇▇▇▇▇▇▇▇▇ of such accounts and records as the Company shall from time to time reasonably require. The Company also agrees to provide ▇▇▇▇▇▇▇▇▇ with the following benefits:
Expenses and Benefits. (a) The Company, consistent with its policy of reporting and reimbursement of business expenses, reimburse Employee for such ordinary and necessary business related expenses as shall be incurred by Employee in the course of the performance of his duties under this Agreement
(b) Employee shall be eligible to participate to the extent that he qualifies in all benefit plans, including without limitation, pension, term life insurance, hospitalization, medical insurance and disability plans as are made available from time-to-time to executives of the Company.
(c) Employee shall be entitled to three weeks of paid vacation annually, and to accumulate unused vacation weeks to the end of this agreement.