Common use of REIMBURSEMENT OF EXPENSES INCURRED BY EMPLOYEE Clause in Contracts

REIMBURSEMENT OF EXPENSES INCURRED BY EMPLOYEE. BUSINESS EXPENSES 6.01. The Employee is authorized to incur reasonable business expenses in the performance of the Employee's duties under this Agreement and in promoting the business of the Employer, including expenditures for entertainment and travel. The Employer will reimburse the Employee on a monthly basis for all such business expenses, provided that the Employee presents to the Employer: (a) An account book or statement of expense or diary in which the Employee recorded at or near the time each expenditure was made: (i) The amount of the expenditure; (ii) The time, place and type of entertainment and travel or other expense; (iii) The business reason for the expenditure and the nature of the business benefit derived or expected to be derived as a result of the expenditure; (iv) The name and any other pertinent information concerning each person who was entertained, sufficient to comply with Internal Revenue Service Guidelines as revised from time-to-time; (b) Documentary evidence, such as receipts or paid bills, that states sufficient information to establish the amount, date, place and essential character of the expenditure, for each expenditure. No expenditures will be reimbursed pursuant to this Section unless the expense is verified and approved by the board of directors of Employer.