Common use of Salaries, Compensation, and Administrative Expenses Clause in Contracts

Salaries, Compensation, and Administrative Expenses. Within forty-five (45) days of the Effective Date and on an annual basis thereafter, the Finance Committee shall submit to the District Court for approval, with copies to the Claimants’ Advisory Committee, the Debtor’s Representatives, and the Shareholders proposed guidelines for payment of all salaries, compensation, and expenses associated with the operation of the Claims Office, the Litigation Facility, and the Finance Committee, including financial management, investment, and audit functions, along with an annual proposed budget for all such costs and expenses. In preparing the proposed annual guidelines, the Finance Committee shall adopt procedures to assure reasonable administrative expenses consistent with the guidelines and costs of operating the MDL 926 Claims Office, and the Finance Committee shall for this purpose consult with the MDL 926 Court.

Salaries, Compensation, and Administrative Expenses. Within forty-five (45) days of the Effective Date and on an annual basis thereafter, the Finance Committee shall submit to the MDL 926 Court and the District Court for approval, with copies to the Claimants’ Advisory Committee, the Debtor’s Representatives, and the Shareholders Shareholders, proposed guidelines for payment of all salaries, compensation, and expenses associated with the operation of the Claims Office, the Litigation Facility, and the Finance Committee, including financial management, investment, and audit functions, along with an annual proposed budget for all such costs and expenses. In preparing the proposed annual guidelines, the Finance Committee shall adopt procedures to assure reasonable administrative expenses consistent with the guidelines and costs of operating the MDL 926 Claims Office, and the Finance Committee shall for this purpose consult with the MDL 926 Court.