Other Benefits and Reimbursements Sample Clauses

Other Benefits and Reimbursements. (a) During the Employment Period, the Executive shall be entitled to not less than four (4) weeks of paid vacation each year of his employment hereunder, which shall accumulate if not used in any given year. Pursuant to the provisions of this Agreement, vacation time earned but unused shall be paid to the Executive upon termination of this Agreement. (b) During the Employment Period, the Executive shall be entitled to such other employment benefits extended or provided to other key executives of FGI, including, but not limited to, payment or reimbursement of all business expenses incurred by the Executive in the performance of his duties and other job related activities set forth in this Agreement or subsequently agreed to by the parties and in the promotion of the Business in accordance with FGI customary policies and procedures. The Executive shall submit to FGI periodic statements of all expenses so incurred. Subject to such audits as FGI may deem necessary, FGI shall reimburse the Executive the full amount of any such expenses advanced by him in the ordinary course of business.
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Other Benefits and Reimbursements. During the Term of employment under this Agreement, Executive shall participate or be entitled to participate in any pension, group insurance, hospitalization, incentive or deferred compensation and other benefit or compensation plans of Bankshares presently in effect or hereafter adopted and generally available to all employees of senior executive status; provided, that Executive’s eligibility for any annual incentive bonus shall be governed by Section 5 above, and Executive’s restricted stock award referenced above in Section 6 shall be governed by the 2006 Equity Incentive Plan and Executive’s restricted stock award agreement. Executive shall also be entitled to any additional compensation, benefits or perquisites, if any, that may be provided specifically to or for Executive by Bankshares from time to time. During the Term, to the extent that Executive’s expenditures are substantiated by Executive as required by corporate policies, Executive shall be reimbursed promptly for all expenditures (including travel, entertainment, parking and business meetings) made in pursuance and furtherance of the business and good will of Bankshares. Bankshares acknowledges that Executive’s principal duties include his serving as the face of Bankshares and its Subsidiaries to the community, and thus that Executive can be anticipated to incur and shall be reimbursed for substantial expenditures arising from Executive’s marketing efforts. Bankshares further acknowledges that Executive’s civic involvement is of importance to its business and goodwill. Executive may employ Bankshares’ property, materials and personnel in community, cultural and similar matters, and in addition, in incidental private personal matters, subject in all cases to any reasonable limitations that the Board of Directors of Bankshares may prescribe. Without limiting the foregoing, Executive shall be entitled to the following benefits and perquisites: (i) Executive shall be entitled to six (6) weeks paid vacation per year, and Executive may accrue and carry over unused vacation time from year to year during the Term. Executive may accelerate one (1) week of paid vacation to a year from the next following year. Executive shall be paid for his accrued and unused vacation time upon termination of employment for any reason. (ii) Executive shall accrue sick leave at the rate of 1.5 days of sick leave per month worked during the Term of this Agreement. Executive may carry over unused sick leave from year to ...
Sample 1
Other Benefits and Reimbursements. Executive shall also be entitled to participate in (i) group medical, dental, disability and life insurance programs, (ii) retirement plans, (iii) vacation, (iv) expense reimbursement programs, and (v) such other benefit programs as shall be made available to the Company’s senior executives during the term of this Agreement. All reimbursements made by the Company under such plans and programs shall be governed by the Green Mountain Coffee Roasters, Inc. 409A Reimbursement Policy. Executive shall be entitled to a minimum of four weeks’ paid vacation per year starting in fiscal year 2004. Any payments of benefits payable to Executive hereunder in respect to any fiscal year during which the Executive is employed by the Company for less than the entire year shall, unless otherwise provided in the applicable plan or arrangement or required by applicable law, be prorated in accordance with the number of days in such calendar year during which Executive is employed.
Sample 1
Other Benefits and Reimbursements. During the Term of employment under this Agreement, Executive shall participate or be entitled to participate in any pension, group insurance, hospitalization, incentive or deferred compensation and other benefit or compensation plans of Bankshares presently in effect or hereafter adopted and generally available to all employees of senior executive status; provided, that Executive’s participation in annual bonus and stock option plans shall be governed by Sections 5 and 6 above. Executive shall also be entitled to any additional compensation, benefits or perquisites, if any, that may be provided specifically to or for Executive by Bankshares from time to time. During the Term, to the extent that Executive’s expenditures are substantiated by Executive as required by corporate policies, Executive shall be reimbursed promptly for all expenditures (including travel, entertainment, parking and business meetings) made in pursuance and furtherance of the business and good will of Bankshares. Bankshares acknowledges that Executive’s principal duties include his serving as the face of Bankshares and its Subsidiaries to the community, and thus that Executive can be anticipated to incur and shall be reimbursed for substantial expenditures arising from Executive’s marketing efforts. Bankshares further acknowledges that Executive’s civic involvement is of importance to its business and goodwill. Executive may employ Bankshares’ property, materials and personnel in community, cultural and similar matters, and in addition, in incidental private personal matters, subject in all cases to any reasonable limitations that the Board of Directors of Bankshares may prescribe. Without limiting the foregoing, Executive shall be entitled to the following benefits and perquisites: (a) Executive shall be entitled to four (4) weeks paid vacation per year beginning April 1, 2005, and Executive may accrue and carry over unused vacation time from year to year during the Term. Executive may accelerate one (1) week of paid vacation to a year from the next following year. Executive shall be paid for his accrued and unused vacation time upon termination of employment for any reason. (b) Executive shall accrue the greater of: (i) the number of days of sick leave that may be accrued according to Bankshares’ policy for all employees beginning April 1, 2005 through the Term of this Agreement, or (ii) two (2) days of sick leave per month beginning April 1, 2005 through December 31, 2005 and one a...
Sample 1
Other Benefits and Reimbursements. Executive shall also be entitled to participate in (i) group medical, dental, disability and life insurance programs, (ii) retirement plans, (iii) vacation, (iv) expense reimbursement programs, and (v) such other benefit programs as shall be made available to the Company's senior executives during the term of this Agreement. Executive shall be entitled to a minimum of four weeks' paid vacation per year starting in fiscal year 2004. Any payments of benefits payable to Executive hereunder in respect to any fiscal year during which the Executive is employed by the Company for less than the entire year shall, unless otherwise provided in the applicable plan or arrangement or required by applicable law, be prorated in accordance with the number of days in such calendar year during which Executive is employed.
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Other Benefits and Reimbursements 
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Related to Other Benefits and Reimbursements

  • In-Kind Benefits and Reimbursements Notwithstanding anything to the contrary in this Agreement, all (A) reimbursements and (B) in-kind benefits provided under this Agreement shall be made or provided in accordance with the requirements of Section 409A of the Code, including, where applicable, the requirement that (w) any reimbursement is for expenses incurred during the Executive’s lifetime (or during a shorter period of time specified in this Agreement); (x) the amount of expenses eligible for reimbursement, or in kind benefits provided, during a calendar year may not affect the expenses eligible for reimbursement, or in kind benefits to be provided, in any other calendar year; (y) the reimbursement of an eligible expense will be made no later than the last day of the calendar year following the year in which the expense is incurred; and (z) the right to reimbursement or in kind benefits is not subject to liquidation or exchange for another benefit.

  • Compensation Benefits and Reimbursement (a) The compensation specified under this Agreement shall constitute the salary and benefits paid for the duties described in Section 2. The Bank shall pay Executive as compensation a salary of not less than [$ ] per year (“Base Salary”). Such Base Salary shall be payable biweekly, or with such other frequency as officers and employees are generally paid. During the period of this Agreement, Executive’s Base Salary shall be reviewed at least annually. Such review shall be conducted by a committee designated by the Board, and the Bank may increase, but not decrease (except a decrease that is generally applicable to all employees) Executive’s Base Salary (with any increase in Base Salary to become “Base Salary” for purposes of this Agreement). Base Salary shall not include any director’s fees that the Executive is entitled to receive as a director of the Bank or any affiliate of the Bank. Such director’s fees shall be separately paid to the Executive. (b) Executive will be entitled to participate in and receive benefits under any employee benefit plans including, but not limited to, retirement plans, supplemental retirement plans, pension plans, profit-sharing plans, health-and-accident insurance plans, medical coverage or any other employee benefit plan or arrangement made available by the Bank currently or in the future to its senior executives and key management employees. Executive will be entitled to participate in any incentive compensation and bonus plans offered by the Bank in which Executive is eligible to participate. Nothing paid to Executive under any such plan or arrangement will be deemed to be in lieu of other compensation to which Executive is entitled under this Agreement. (c) In addition to the Base Salary provided for by paragraph (a) of this Section 3, the Bank shall pay or reimburse Executive for all reasonable travel and other reasonable expenses incurred by Executive performing his obligations under this Agreement and may provide such additional compensation in such form and such amounts as the Board may from time to time determine. The Bank shall reimburse Executive for his ordinary and necessary business expenses including, without limitation, fees for memberships in such clubs and organizations as Executive and the Board shall mutually agree are necessary and appropriate for business purposes, and travel and entertainment expenses, incurred in connection with the performance of his duties under this Agreement.

  • Other Benefits During the Term, the Executive shall be eligible to participate in or receive benefits under the Company’s employee benefit plans in effect from time to time, subject to the terms of such plans.

  • Other Benefits and Perquisites The Executive shall be entitled to participate in the benefit plans provided by the Company for all employees, generally, and for the Company’s executive employees. The Company shall be entitled to change or terminate these plans in its sole discretion at any time.

  • Compensation and Reimbursement (a) The Company covenants and agrees to pay to the Trustee, and the Trustee shall be entitled to, such reasonable compensation (which shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust) as the Company and the Trustee may from time to time agree in writing, for all services rendered by it in the execution of the trusts hereby created and in the exercise and performance of any of the powers and duties hereunder of the Trustee, and, except as otherwise expressly provided herein, the Company will pay or reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances incurred or made by the Trustee in accordance with any of the provisions of this Indenture (including the reasonable compensation and the expenses and disbursements of its counsel and of all Persons not regularly in its employ), except any such expense, disbursement or advance as may arise from its negligence or bad faith and except as the Company and Trustee may from time to time agree in writing. The Company also covenants to indemnify the Trustee (and its officers, agents, directors and employees) for, and to hold it harmless against, any loss, liability or expense incurred without negligence or bad faith on the part of the Trustee and arising out of or in connection with the acceptance or administration of this trust, including the reasonable costs and expenses of defending itself against any claim of liability in the premises. (b) The obligations of the Company under this Section to compensate and indemnify the Trustee and to pay or reimburse the Trustee for reasonable expenses, disbursements and advances shall constitute indebtedness of the Company to which the Securities are subordinated. Such additional indebtedness shall be secured by a lien prior to that of the Securities upon all property and funds held or collected by the Trustee as such, except funds held in trust for the benefit of the holders of particular Securities.

  • Section 607 Compensation and Reimbursement The Company agrees

  • Expense Payments and Reimbursements The Bank will reimburse Executive for all reasonable out-of-pocket business expenses incurred in connection with his services under this Agreement upon substantiation of such expenses in accordance with applicable policies of the Bank.

  • Reimbursements and In-Kind Benefits Notwithstanding anything to the contrary in this Agreement, all reimbursements and in-kind benefits provided under this Agreement that are subject to Section 409A of the Code shall be made in accordance with the requirements of Section 409A of the Code, including, where applicable, the requirement that (A) any reimbursement is for expenses incurred during Executive’s lifetime (or during a shorter period of time specified in this Agreement); (B) the amount of expenses eligible for reimbursement, or in-kind benefits provided, during a calendar year may not affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other calendar year; (C) the reimbursement of an eligible expense will be made no later than the last day of the calendar year following the year in which the expense is incurred; and (D) the right to reimbursement or in-kind benefits is not subject to liquidation or exchange for another benefit.

  • Expense Reimbursements To the extent that any reimbursements payable pursuant to this Agreement are subject to the provisions of Section 409A of the Code, any such reimbursements payable to Executive pursuant to this Agreement shall be paid to Executive no later than December 31 of the year following the year in which the expense was incurred, the amount of expenses reimbursed in one year shall not affect the amount eligible for reimbursement in any subsequent year, and Executive’s right to reimbursement under this Agreement will not be subject to liquidation or exchange for another benefit.

  • Compensation Benefits and Expenses During the Term, the Bank shall compensate the Executive for his services as provided in this Section 3. Unless otherwise determined by the Company Board, all payments and benefits provided in this Agreement shall be paid or provided solely by the Bank. Notwithstanding anything in this Agreement to the contrary, no provision of this Agreement shall be construed so as to result in the duplication of any payment or benefit. Unless otherwise determined by the Company Board, the Company’s sole obligation under this Agreement shall be to unconditionally guarantee the payment and provision of all amounts and benefits due hereunder to Executive, and the affirmative obligations of the Company as set forth at Section 3(h), herein, with respect to Indemnification, and, if such amounts and benefits due from the Bank are not timely paid or provided by the Bank, such amounts and benefits shall be paid or provided by the Company.

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