Common use of Pay and Expenses Clause in Contracts

Pay and Expenses. 4.1 The Company shall pay to the Executive for the proper performance of his duties under this Agreement a fixed salary at the rate of (pound)150,000 per annum (or such higher rate as the Company may from time to time notify in writing to the Executive). 4.2 The Company intends to operate a discretionary bonus scheme which is to be approved by the Remuneration Committee. The Executive shall be entitled to participate in such scheme. 4.3 The fixed salary of the Executive will: (a) accrue from day to day and be payable by equal quarterly instalments in arrears by not later than the last working day of the month at the end of such quarter; (b) notwithstanding anything to the contrary contained in the Articles of Association of the Company or of any other Group Company, be inclusive of any other fees or remuneration of any description which the Executive might be entitled to receive from the Company or any Group Company or any other company or association in which he holds office as a nominee or representative of the Company or any Group Company (and the Executive shall, at the discretion of the Board, either waive his right to any such remuneration or account to the Company for the same forthwith upon receipt); (c) be paid by credit transfer to the account nominated by the Executive from time to time; and (d) be capable of set off by the Company from time to time against any liability of the Executive to the Company. 4.4 Subject to clause 4.5, the fixed salary shall be reviewed by the Remuneration Committee in the month of July each year. Increases are not automatic but will be based on individual merit and performance. 4.5 The Executive hereby authorises the Company to deduct from any remuneration accrued and due to him under the terms of this Agreement (whether or not actually paid during the Appointment) or from any pay in lieu of notice: (a) any overpayment of salary or expenses or payment made to the Executive by mistake or through any misrepresentation; (b) any debt owed by the Executive to the Company or any Group Company; (c) any other sum or sums which may be required to be authorised pursuant to Section 13 of the ERA; and (d) any tax or Social Security contributions due in respect of remuneration or any other monies received or receivable by the Executive from the Company. 4.6 The Company shall repay to the Executive all reasonable travelling, hotel and other expenses properly incurred by him in or about the performance of his duties, subject to the Executive having delivered to the Company such form(s) and vouchers or other evidence of actual payment of such expenses as the Company may from time to time require. The decision of the Board as to what constitutes reasonable expenses shall be conclusive.

Pay and Expenses. 4.1 The Company shall pay to the Executive Employee for the proper performance of his his/her duties under this Agreement a fixed gross salary at the rate of Three Hundred Thousand US dollars (pound)150,000 300,000) per annum (or such higher rate as the Company may from time to time notify in writing to the ExecutiveEmployee). 4.2 The Company intends to operate a discretionary bonus scheme which is to be approved by the Remuneration Committee. The Executive shall be entitled to participate in such scheme. 4.3 The fixed salary of the Executive Employee will: (a) accrue from day to day and be payable by equal quarterly monthly instalments in arrears by not later than the last first working day of the month at the end of such quartereach month; (b) notwithstanding anything to the contrary contained in the Articles of Association of the Company or of any other Group Company, be inclusive of any other fees or remuneration of any description which the Executive Employee might be entitled to receive from the Company or any Group Company or any other company or association in which he holds office as a nominee or representative of the Company or any Group Company (and the Executive Employee shall, at the discretion of the Board, either waive his right to any such remuneration or account to the Company for the same forthwith upon receipt); (c) be paid by credit transfer to the account nominated by the Executive Employee from time to time; and (d) be capable of set off by the Company from time to time against any liability of the Executive Employee to the CompanyCompany as set out in Clause 4.5. 4.4 4.3 Subject to clause 4.5the provisions of Clause 4.2, the fixed Employee's salary as set out in Clause 4.1 shall be reviewed by the Remuneration Committee Board each year during the continuance of this Agreement, such review to be effective from the start date of the contract. 4.4 The Employee shall have an entitlement to participate in such incentive or bonus plan of the month Company as is in place from time to time, subject always to the rules of July each year. Increases are not automatic but the relevant plan which will be based on individual merit and performancecommunicated separately from time to time. 4.5 The Executive Employee hereby authorises the Company to deduct from any remuneration accrued and due to him under the terms of this Agreement (whether or not actually paid during the Appointment) or from any pay in in-lieu of notice: (a) any overpayment of salary or expenses or payment made to the Executive Employee by mistake or through any misrepresentation;mistake; and (b) any debt owed by the Executive to the Company or any Group Company; (c) any other sum or sums which may be required to be authorised pursuant to Section 13 of the ERA; and (dc) any tax or Social Security national insurance contributions due in respect of remuneration or any other monies received or receivable by the Executive Employee from the Company. 4.6 The Company shall repay to the Executive Employee all reasonable travelling, hotel and other expenses properly incurred by him in or about the performance of his duties, subject to the Executive Employee having delivered to the Company such form(s) and vouchers or other evidence of actual payment of such expenses as the Company may from time to time reasonably require. The decision of the Board as to what constitutes reasonable expenses shall be conclusive.

Pay and Expenses. 4.1 The Company shall pay to the Executive Employee for the proper performance of his his/her duties under this Agreement a fixed gross salary at the rate of One Hundred and Eighty Thousand US Dollars (pound)150,000 180,000) per annum (or such higher rate as the Company may from time to time notify in writing to the ExecutiveEmployee). 4.2 The Company intends to operate a discretionary bonus scheme which is to be approved by the Remuneration Committee. The Executive shall be entitled to participate in such scheme. 4.3 The fixed salary of the Executive Employee will: (a) accrue from day to day and be payable by equal quarterly monthly instalments in arrears by not later than the last first working day of the month at the end of such quartereach month; (b) notwithstanding anything to the contrary contained in the Articles of Association of the Company or of any other Group Company, be inclusive of any other fees or remuneration of any description which the Executive Employee might be entitled to receive from the Company or any Group Company or any other company or association in which he holds office as a nominee or representative of the Company or any Group Company (and the Executive Employee shall, at the discretion of the Board, either waive his right to any such remuneration or account to the Company for the same forthwith upon receipt); (c) be paid by credit transfer to the account nominated by the Executive Employee from time to time; and (d) be capable of set off by the Company from time to time against any liability of the Executive Employee to the CompanyCompany as set out in Clause 4.5. 4.4 4.3 Subject to clause 4.5the provisions of Clause 4.2, the fixed Employee's salary as set out in Clause 4.1 shall be reviewed by the Remuneration Committee Board each year during the continuance of this Agreement, such review to be effective from the start date of the contract. 4.4 The Employee shall have an entitlement to participate in such incentive or bonus plan of the month Company as is in place from time to time, subject always to the rules of July each year. Increases are not automatic but the relevant plan which will be based on individual merit and performancecommunicated separately from time to time. 4.5 The Executive Employee hereby authorises the Company to deduct from any remuneration accrued and due to him under the terms of this Agreement (whether or not actually paid during the Appointment) or from any pay in in-lieu of notice: (a) any overpayment of salary or expenses or payment made to the Executive Employee by mistake or through any misrepresentation;mistake; and (b) any debt owed by the Executive to the Company or any Group Company; (c) any other sum or sums which may be required to be authorised pursuant to Section 13 of the ERA; and (dc) any tax or Social Security national insurance contributions due in respect of remuneration or any other monies received or receivable by the Executive Employee from the Company. 4.6 The Company shall repay to the Executive Employee all reasonable travelling, hotel and other expenses properly incurred by him in or about the performance of his duties, subject to the Executive Employee having delivered to the Company such form(s) and vouchers or other evidence of actual payment of such expenses as the Company may from time to time reasonably require. The decision of the Board as to what constitutes reasonable expenses shall be conclusive.

Pay and Expenses. 4.1 The Company shall pay to the Executive for the proper performance of his duties under this Agreement a fixed salary at the rate of (pound)150,000 pound)90,000 per annum (or such higher rate as the Company may from time to time notify in writing to the Executive). 4.2 The Company intends to operate a discretionary bonus scheme which is to be approved by the Remuneration Committee. The Executive shall be entitled to participate in such scheme. 4.3 The fixed salary of the Executive will: (a) accrue from day to day and be payable by equal quarterly instalments in arrears by not later than the last working day of the month at the end of such quarter; (b) notwithstanding anything to the contrary contained in the Articles of Association of the Company or of any other Group Company, be inclusive of any other fees or remuneration of any description which the Executive might be entitled to receive from the Company or any Group Company or any other company or association in which he holds office as a nominee or representative of the Company or any Group Company (and the Executive shall, at the discretion of the Board, either waive his right to any such remuneration or account to the Company for the same forthwith upon receipt); (c) be paid by credit transfer to the account nominated by the Executive from time to time; and (d) be capable of set off by the Company from time to time against any liability of the Executive to the Company. 4.4 Subject to clause 4.5, the fixed salary shall be reviewed by the Remuneration Committee in the month of July each year. Increases are not automatic but will be based on individual merit and performance. 4.5 The Executive hereby authorises the Company to deduct from any remuneration accrued and due to him under the terms of this Agreement (whether or not actually paid during the Appointment) or from any pay in lieu of notice: (a) any overpayment of salary or expenses or payment made to the Executive by mistake or through any misrepresentation; (b) any debt owed by the Executive to the Company or any Group Company; (c) any other sum or sums which may be required to be authorised pursuant to Section 13 of the ERA; and (d) any tax or Social Security contributions due in respect of remuneration or any other monies received or receivable by the Executive from the Company. 4.6 The Company shall repay to the Executive all reasonable travelling, hotel and other expenses properly incurred by him in or about the performance of his duties, subject to the Executive having delivered to the Company such form(s) and vouchers or other evidence of actual payment of such expenses as the Company may from time to time require. The decision of the Board as to what constitutes reasonable expenses shall be conclusive.

Pay and Expenses. 4.1 The Company shall pay to the Executive for the proper performance of his duties under this Agreement a fixed salary at the rate of (pound)150,000 pound)72,000 per annum (or such higher rate as the Company may from time to time notify in writing to the Executive). 4.2 The Company intends to operate a discretionary bonus scheme which is to be approved by the Remuneration Committee. The Executive shall be entitled to participate in such scheme. 4.3 The fixed salary of the Executive will: (a) accrue from day to day and be payable by equal quarterly instalments in arrears by not later than the last working day of the month at the end of such quarter; (b) notwithstanding anything to the contrary contained in the Articles of Association of the Company or of any other Group Company, be inclusive of any other fees or remuneration of any description which the Executive might be entitled to receive from the Company or any Group Company or any other company or association in which he holds office as a nominee or representative of the Company or any Group Company (and the Executive shall, at the discretion of the Board, either waive his right to any such remuneration or account to the Company for the same forthwith upon receipt); (c) be paid by credit transfer to the account nominated by the Executive from time to time; and (d) be capable of set off by the Company from time to time against any liability of the Executive to the Company. 4.4 Subject to clause 4.5, the fixed salary shall be reviewed by the Remuneration Committee in the month of July each year. Increases are not automatic but will be based on individual merit and performance. 4.5 The Executive hereby authorises the Company to deduct from any remuneration accrued and due to him under the terms of this Agreement (whether or not actually paid during the Appointment) or from any pay in lieu of notice: (a) any overpayment of salary or expenses or payment made to the Executive by mistake or through any misrepresentation; (b) any debt owed by the Executive to the Company or any Group Company; (c) any other sum or sums which may be required to be authorised pursuant to Section 13 of the ERA; and (d) any tax or Social Security contributions due in respect of remuneration or any other monies received or receivable by the Executive from the Company. 4.6 The Company shall repay to the Executive all reasonable travelling, hotel and other expenses properly incurred by him in or about the performance of his duties, subject to the Executive having delivered to the Company such form(s) and vouchers or other evidence of actual payment of such expenses as the Company may from time to time require. The decision of the Board as to what constitutes reasonable expenses shall be conclusive.

Pay and Expenses. 4.1 The Company shall pay to the Executive for the proper performance of his duties under this Agreement a fixed salary at the rate of (pound)150,000 pound)70,000 per annum (or such higher rate as the Company may from time to time notify in writing to the Executive). 4.2 The Company intends to operate a discretionary bonus scheme which is to be approved by the Remuneration Committee. The Executive shall be entitled to participate in such scheme. 4.3 The fixed salary of the Executive will: (a) accrue from day to day and be payable by equal quarterly instalments in arrears by not later than the last working day of the month at the end of such quarter; (b) notwithstanding anything to the contrary contained in the Articles of Association of the Company or of any other Group Company, be inclusive of any other fees or remuneration of any description which the Executive might be entitled to receive from the Company or any Group Company or any other company or association in which he holds office as a nominee or representative of the Company or any Group Company (and the Executive shall, at the discretion of the Board, either waive his right to any such remuneration or account to the Company for the same forthwith upon receipt); (c) be paid by credit transfer to the account nominated by the Executive from time to time; and (d) be capable of set off by the Company from time to time against any liability of the Executive to the Company. 4.4 Subject to clause 4.5, the fixed salary shall be reviewed by the Remuneration Committee in the month of July each year. Increases are not automatic but will be based on individual merit and performance. 4.5 The Executive hereby authorises the Company to deduct from any remuneration accrued and due to him under the terms of this Agreement (whether or not actually paid during the Appointment) or from any pay in lieu of notice: (a) any overpayment of salary or expenses or payment made to the Executive by mistake or through any misrepresentation; (b) any debt owed by the Executive to the Company or any Group Company; (c) any other sum or sums which may be required to be authorised pursuant to Section 13 of the ERA; and (d) any tax or Social Security contributions due in respect of remuneration or any other monies received or receivable by the Executive from the Company. 4.6 The Company shall repay to the Executive all reasonable travelling, hotel and other expenses properly incurred by him in or about the performance of his duties, subject to the Executive having delivered to the Company such form(s) and vouchers or other evidence of actual payment of such expenses as the Company may from time to time require. The decision of the Board as to what constitutes reasonable expenses shall be conclusive.