Common use of Salary and Expenses Clause in Contracts

Salary and Expenses. Each Manager and Officer shall be reimbursed for his or her reasonable expenses incurred on behalf of the Company and shall receive such compensation (including no compensation) for services rendered in his or her capacity as a Manager or Officer as may be determined from time to time by the Management Committee. Notwithstanding the foregoing, no Manager employed by a Member or an Affiliate of a Member (other than the Company) shall receive compensation by the Company for services rendered in his or her capacity as a Manager, nor shall such Manager be reimbursed by the Company for expenses incurred on behalf of the Company, absent a separate, written agreement between the Company and such Manager.