Common use of Payment or Reimbursement of Expenses Clause in Contracts

Payment or Reimbursement of Expenses. Subject to compliance by the Employee with such policies regarding expenses and expense reimbursements as may be adopted, from time to time, by the Corporation, the Employee shall be paid or reimbursed for reasonable expenses actually incurred in connection with the performance of his duties hereunder and in the furtherance of the business and affairs of the Corporation. Any such reimbursement shall be made within a reasonable period after presentation by the Employee of an itemized account of such expenses, accompanied by appropriate receipts satisfactory to the Corporation. In no event shall any expense be paid or reimbursed, unless properly accounted for to the extent necessary to substantiate the Corporation's Federal income tax deduction under the applicable provisions of the Internal Revenue Code of 1986, as amended (the "Code"), and the regulations promulgated thereunder or any similar state or federal law or regulation.

Payment or Reimbursement of Expenses. Subject to compliance by the Employee with such policies regarding expenses and expense reimbursements as may be adopted, adopted from time to time, time by the CorporationCompany, the Employee shall be paid or reimbursed for reasonable expenses actually incurred in connection with the performance of his duties hereunder under this Agreement and in the furtherance of the business and affairs of the CorporationCompany. Any such reimbursement shall be made within a reasonable period after presentation by the Employee of an itemized account of such expenses, accompanied by appropriate receipts satisfactory to the CorporationCompany. In no event shall any expense be paid or reimbursed, unless properly accounted for to the extent necessary to substantiate the Corporation's Federal Company’s federal income tax deduction under the applicable provisions of the Internal Revenue Code of 1986, as amended (the "“Code"”), and the regulations promulgated thereunder or any similar state or federal law or regulation.