Fees for Management Services; Reimbursement. In consideration for the provision of Management Services by the Manager to the Company, the Company shall pay the Manager the amounts set forth on Schedule B hereto in accordance with Section 8.2 (“Management Fees”). In addition, the Company shall reimburse the Manager for (a) all of the reasonable direct and indirect costs and expenses incurred by the Manager and its Affiliates in providing Management Services and (b) the pro rata portion of the salary and other costs incurred by the Manager in employing and compensating an internal auditor who will be made available to the Company on a part time basis.
Appears in 4 contracts
Samples: Management Agreement (Genco Shipping & Trading LTD), Management Agreement (Baltic Trading LTD), Management Agreement (Baltic Trading LTD)