Performance-Enhancing Items. Executive shall be entitled to receive from the Company (a) an annual car allowance up to ten thousand dollars ($10,000.00) per annum, and (b) reimbursement by the Company for home office expenses, including, without limitation, the purchase and maintenance of a home computer with linkup facilities to the Company, a home facsimile, printer and scanner, interconnection of two telephone or cable connections to the Internet, laptop computer, portable mobile phone, together with any charges for the use thereof. To the extent that any and all such reimbursements or payments by the Company are includable in Executive’s gross income and taxable, then the Company shall, on or before June 1 of the year after the payment is made, pay the Tax Effect thereof to Executive.
Performance-Enhancing Items. Executive shall be entitled to receive from the Company an annual car allowance up to Eight Thousand Four Hundred Dollars ($8,400) per annum.
Performance-Enhancing Items. Executive shall be entitled to receive from the Company a monthly car allowance of up to One Thousand Dollars ($1,000) per month.
Performance-Enhancing Items. The Executive shall be entitled to receive from the Company (i) an annual car allowance up to ten thousand dollars ($10,000) per annum, and (ii) an annual reimbursement for home office expenses, up to twenty-five hundred dollars ($2,500) per annum. To the extent that such reimbursement is deemed to be includable in the Executive’s gross income and taxable, then the Company shall, on or before June 1 of the year after the payment is made, pay to the Executive the Tax Effect (as defined herein) of such sum. To the extent that any and all such reimbursements or payments by the Company are includable in Executive’s gross income and taxable, then the Company shall, on or before June 1 of the year after the payment is made, reimburse the Executive for such taxes.
Performance-Enhancing Items. Executive shall be entitled to receive from the Company training allowance up to Five Thousand ($5000.00) per annum. Executive shall obtain approval for each such training from the BOD prior to enrollment in, or payment of, said Company training.
Performance-Enhancing Items. Executive shall be entitled to receive from the Company a home office and car allowance of Three Thousand Dollars ($3,000) per month. To the extent that any and all such reimbursements or payments by the Company are includable in Executive’s gross income and taxable, then the Company shall remit a Gross-Up Payment to the Executive.
Performance-Enhancing Items. Executive shall be entitled to receive from the Company an annual car allowance up to Eight Thousand Four Hundred Dollars ($8,400) per annum. Commencing on April 1, 2010, the car allowance shall be increased to Ten Thousand ($12,000) per annum.” Article IV Reimbursement and Employment Benefits, Section 4.06 shall be added to the Agreement and contain the following language:
Performance-Enhancing Items. Executive shall be entitled to receive from the Company (a) an annual car allowance up to fifteen thousand dollars ($15,000.00) per annum, and (b) reimbursement by the Company for home office expenses up to five thousand dollars ($5,000.00) per month, including, without limitation, the purchase and maintenance of a home computer with linkup facilities to the Company, a home facsimile, printer and scanner, interconnection of two telephone or cable connections to the Internet, laptop computer, portable mobile phone, together with any charges for the use thereof. Executive shall be entitled to a remote housing allowance of up to ten thousand ten thousand dollars ($10,000.00) per month. Executive shall be responsible for any taxes due on such allowance. To the extent that any and all such reimbursements or payments by the Company pursuant to this Section 4.03 are includable in Executive’s gross income and taxable (the “Allowances”), then the Company shall, on or before March 15 of the year after the payment is made, pay to the Executive the quotient of the amount of Allowances divided by 0.54, and then subtracting the Allowances from this amount (e.g., if the Allowances are $1,000.00, then the Company would pay to the Executive the sum of $851.85, which is $1,000.00 divided by 0.54, and subtracting the amount of the Allowances).
Performance-Enhancing Items. Executive shall be entitled to receive from the Company (a) an annual car allowance up to three thousand seven-hundred and fifty dollars ($3,750.00) per annum, and (b) reimbursement by the Company for home office expenses up to five hundred dollars ($500.00) per month, including, without limitation, the purchase and maintenance of a home computer with linkup facilities to the Company, a home facsimile, printer and scanner, interconnection of two telephone or cable connections to the Internet, laptop computer, portable mobile phone, together with any charges for the use thereof. To the extent that any and all such reimbursements or payments by the Company pursuant to this Section 4.03 are includable in Executive’s gross income and taxable (the “Allowances”), then the Company shall, on or before March 15 of the year after the payment is made, pay to the Executive the quotient of the amount of Allowances divided by 0.54, and then subtracting the Allowances from this amount (e.g., if the Allowances are $1,000.00, then the Company would pay to the Executive the sum of $851.85, which is $1,000.00 divided by 0.54, and subtracting the amount of the Allowances).
Performance-Enhancing Items. Executive shall NOT be entitled to receive from the Company an annual car allowance up to NIL Dollars ($0.00) per annum.
