Common use of Reimbursement of Company Business Expenses Clause in Contracts

Reimbursement of Company Business Expenses. Company shall within ninety (90) days of its receipt from Executive of supporting receipts to the extent required by applicable income tax regulations and Company’s reimbursement policies, reimburse Executive for all out-of-pocket 409A Permitted Business Expenses; provided, however, that if such reimbursement would jeopardize the ability of the Company to continue as a going concern, Company’s obligation to make such reimbursement shall be deferred until such date as any such reimbursement would no longer have such effect. For purposes of this Agreement, the phrase “409A Permitted Business Expenses” shall mean those reasonably and actually incurred expenses that are incurred by Executive in connection with his employment hereunder and consistent with Company policies and could otherwise be deducted by Executive under Code Section 162 or 167 as business expenses incurred in connection with the performance of services (ignoring any applicable limitation based on adjusted gross income). Reimbursement of any and all 409A Permitted Business Expenses is conditioned on Executive submitting his request for reimbursement and supporting substantiation within sixty (60) of the date on which any such expenses shall have been incurred.

Reimbursement of Company Business Expenses. Company shall within ninety (90) days of its receipt from Executive of supporting receipts to the extent required by applicable income tax regulations and Company’s reimbursement policies, reimburse Executive for all out-of-pocket 409A Permitted Business Expenses; provided, however, that if such reimbursement would jeopardize the ability of the Company to continue as a going concern, Company’s obligation to make such reimbursement shall be deferred until such date as any such reimbursement would no longer have such effect. For purposes of this Agreement, the phrase “409A Permitted Business Expenses” shall mean those reasonably and actually incurred expenses that are incurred by Executive in connection with his employment hereunder and consistent with Company policies and could otherwise be deducted by Executive under Code Section 162 or 167 as business expenses incurred in connection with the performance of services (ignoring any applicable limitation based on adjusted gross income). Reimbursement of any and all 409A Permitted Business Expenses is conditioned on Executive submitting his request for reimbursement and supporting substantiation within sixty (60) of the date on which any such expenses shall have been incurred.. [Type text]