Common use of Positive Space Travel Clause in Contracts

Positive Space Travel. Positive space travel is permitted as follows: the Executive will receive an annual credit of $10,000 in the Executive’s Universal Air Travel Plan (“UATP”) account for personal travel on Company scheduled flights for the Executive and certain Qualifying Friends and Family (as defined below). Any increases to the annual credit of other executives of the same rank shall apply equally to the Executive. Each flown segment is valued at $75, and deducted from the UATP account. The value of this benefit is reported as taxable income with taxes on such income paid for by the Company.

Appears in 3 contracts

Samples: Employment Letter Agreement (Sun Country Airlines Holdings, Inc.), Employment Letter Agreement (Sun Country Airlines Holdings, Inc.), Employment Letter Agreement (Sun Country Airlines Holdings, Inc.)

AutoNDA by SimpleDocs

Positive Space Travel. Positive space travel is permitted as follows: the Executive will receive an annual credit of $10,000 12,500 in the Executive’s ’ s Universal Air Travel Plan (“UATP”) account for personal travel on Company scheduled flights for the Executive and certain Qualifying Friends and Family (as defined below). Any increases to the annual credit of other executives of the same rank shall apply equally to the Executive. Each flown segment is valued at $75, and deducted from the UATP account. The value of this benefit is reported as taxable income with taxes on such income paid for by the Company.

Appears in 2 contracts

Samples: Employment Agreement (Sun Country Airlines Holdings, Inc.), Employment Agreement (Sun Country Airlines Holdings, Inc.)

Positive Space Travel. Positive space travel is permitted as follows: the Executive will receive an annual credit of $10,000 15,000 in the Executive’s Universal Air Travel Plan (“UATP”) account for personal travel on Company scheduled flights for the Executive and certain Qualifying Friends and Family (as defined below). Any increases to the annual credit of other executives of the same rank shall apply equally to the Executive. Each flown segment is valued at $75, and deducted from the UATP account. The value of this benefit is reported as taxable income with taxes on such income paid for by the Company.

Appears in 2 contracts

Samples: Employment Agreement (Sun Country Airlines Holdings, Inc.), Employment Agreement (Sun Country Airlines Holdings, Inc.)

Positive Space Travel. Positive space travel is permitted as follows: the Executive will receive an annual credit of $10,000 12,500 in the Executive’s Universal Air Travel Plan (“UATP”) account for personal travel on Company scheduled flights for the Executive and certain Qualifying Friends and Family (as defined below). Any increases to the annual credit of other executives of the same rank shall apply equally to the Executive. Each flown segment is valued at $75, . and deducted from the UATP account. The value of this benefit is reported as taxable income with taxes on such income paid for by the Company.

Appears in 2 contracts

Samples: Employment Agreement (Sun Country Airlines Holdings, Inc.), Employment Agreement (Sun Country Airlines Holdings, Inc.)

Positive Space Travel. Positive space travel is permitted as follows: the Executive will receive an annual credit of $10,000 20,000 in the Executive’s ’ s Universal Air Travel Plan (“UATP”) account for personal travel on Company scheduled flights for the Executive and certain Qualifying Friends and Family (as defined below). Any increases to the annual credit of other executives of the same rank shall apply equally to the Executive. Each flown segment is valued at $75, 75 and deducted from the Executive’s UATP account. The value of this benefit is reported as taxable income with taxes on such income paid for by the Company.

Appears in 1 contract

Samples: Employment Agreement (Sun Country Airlines Holdings, Inc.)

AutoNDA by SimpleDocs

Positive Space Travel. Positive space travel is permitted as follows: the Executive will receive an annual credit of $10,000 12,500 in the Executive’s ’ s Universal Air Travel Plan (“UATP”) account for personal travel on Company scheduled flights for the Executive and certain Qualifying Friends and Family (as defined below). Any increases to the annual credit of other executives of the same rank shall apply equally to the Executive. Each flown segment is valued at $75, 75 and deducted from the Executive’s UATP account. The value of this benefit is reported as taxable income with taxes on such income paid for by the Company.

Appears in 1 contract

Samples: Employment Agreement (Sun Country Airlines Holdings, Inc.)

Positive Space Travel. Positive space travel is permitted as follows: the Executive will receive an annual credit of $10,000 in the Executive’s Universal Air Travel Plan (“UATP”) account for personal travel on Company scheduled flights for the Executive and certain Qualifying Friends and Family (as defined below). Any increases to the annual credit of other executives of the same rank shall apply equally to the Executive. Each flown segment is valued at $75, and deducted from the UATP account. The value of this benefit is reported as taxable income with taxes on such income paid for by the Company.

Appears in 1 contract

Samples: Employment Letter Agreement (Sun Country Airlines Holdings, Inc.)

Time is Money Join Law Insider Premium to draft better contracts faster.