Use of Company Aircraft. The Employee will be entitled to use the Company aircraft for his personal use, subject to availability, provided that the Employee promptly shall reimburse the marginal cost to the Company of such use.
Use of Company Aircraft. During the term of this Agreement, the Company shall provide to Executive, for Executive's personal use or business use (or a combination of such uses), at no cost to Executive, the use of any Company owned or operated aircraft selected by Executive (together with pilots, fuel, landing fees, and other related costs and personnel associated with such use), for up to 50 flight hours per calendar year. The selection of aircraft and the scheduling of the use of such aircraft shall be subject to reasonable requirements of the Company concerning availability of such aircraft and personnel to operate such aircraft.
Use of Company Aircraft. When the Company’s aircraft is not in use for business purposes, the aircraft may be used for the personal travel of the Executive and members of his immediate family and their invited guests. For any personal use of the aircraft in accordance with this Section 4.3, the management company for the aircraft shall xxxx the Executive directly at rates applicable to the Company’s business use of such aircraft and which cover all incremental cost(s) that otherwise would result to the Company from the Executive’s personal use. Duplicate copies of such bills shall be provided to the Company.
Use of Company Aircraft. For each 12-month period (or ratable portion thereof) during the Employment Term, the Executive shall be entitled to use aircraft operated by or for the Company (the "Company Aircraft"), to the extent such aircraft are reasonably available, (1) for business uses related to the Executive's responsibilities with respect to the management of the Company's global operations and (2) subject to the Company's priority for business purposes, personal uses. The timing and amount of the Executive's use of the Company Aircraft shall be at the Executive's reasonable discretion but shall be consistent with prior use thereof by the Executive and, in any event, the number of hours of use of Company Aircraft by the Executive shall be limited to the greater of (A) 250 hours per 12-month period (of which up to 50 hours may be for personal use pursuant to clause (2) above) and (B) such higher number of hours as may be approved in advance by the Board. To the extent that the Executive's actual personal use of any Company Aircraft is properly imputed to the Executive as taxable compensation, the Company shall pay to the Executive an additional bonus equal to the amount of any federal, state and local taxes payable in respect of such imputed compensation. For purposes of determining the amount of the additional bonus payable pursuant hereto, the Executive shall be deemed to pay federal, state and local income taxes at the highest marginal rates applicable to individuals for the calendar year in which such additional bonus payment is to be made. The additional bonus payments provided for in this Section 4(f) shall be made upon the earlier of:
(i) written certification to the Company by the Executive's tax advisor (who must be a certified public accountant with professional experience in such matters) that the Executive is liable for taxes with respect to his personal use of the Company Aircraft; and
(ii) the assessment of the Executive by any federal, state or municipal taxing authority of any taxes with respect to the Executive's personal use of the Company Aircraft; provided, however, that no payment under this clause (ii) shall be required to be paid prior to the 31st of March following the calendar year in which the imputed income giving rise to the payment occurred. In no event shall the Executive be permitted to use any Company Aircraft if and to the extent it would cause the Company's ability to deduct the use, ownership or operation of any Company Aircraft as an expense ...
Use of Company Aircraft. When the Company’s aircraft is not in use for its business purposes, the aircraft may be used for the personal travel of the Chairman, the Chief Executive Officer, members of their immediate family and their invited guests. Such use is permitted for the following reasons: the personal safety of the Chairman and Chief Executive Officer; and to limit the “wear and tear” on such individuals arising from the extensive nature of their business travel and their high profile among members of the public. For any personal use of the aircraft in accordance in this Section 4(e), compensation shall be attributable to the appropriate employee of the Company at a rate equal to the higher of (x) 120 percent of first class airfare for comparable travel; or (y) rates prescribed by applicable IRS regulations. The amount of such use, and the resulting imputed income to the Executive and cost to the Company, shall be reviewed regularly by the Company’s Compensation Committee.
Use of Company Aircraft. When the Company’s aircraft is not in use for its business purposes, the aircraft may be used for the personal travel of the Chairman, the Chief Executive Officer, members of their immediate family and their invited guests. Such use is permitted for the following reasons: the personal safety of the Chairman and Chief Executive Officer; and to limit the “wear and tear” on such individuals arising from the extensive nature of their business travel and their high profile among members of the public. For any personal use of the aircraft in accordance with this Section 4(e), the management company for the aircraft shall xxxx the Chairman and/or Chief Executive Officer, as the case may be, directly at rates that cover all incremental cost(s) that otherwise would result to the Company from such personal use. Duplicate copies of such bills will be provided to the Company.
Use of Company Aircraft. During the Term and subject to availability, the Company shall make available a corporate aircraft to Rose for travel. In addition, the Company shall reimburse Rose for Rose's use of his personal aircraft in connection with the performance of his duties for the Company. To the extent Rose is required to travel on a commercial airline in connection with the performance of his duties for the Company, Rose shall be entitled to travel on a first-class basis.
Use of Company Aircraft. For security purposes, during the Term, so long as the Company (or one of its subsidiaries) owns an interest in, or a right to use, a private jet aircraft, the Employee shall use such aircraft for business purposes, and upon reasonable notice, and provided that such aircraft is not required at such times for business purposes, the Company will make available such aircraft to Employee and his family for up to fifty (50) flight hours per year for his and his family's personal use, in each case at no cost to the Employee other than any applicable personal income taxes payable in connection therewith. An amount equal to the related benefit of such personal use of the aircraft will be included in Employee's taxable income as required pursuant to the Internal Revenue Code of 1986, as amended (the "Code"), and related regulations.
Use of Company Aircraft. The Employee will be entitled to use the Company aircraft for his personal use, subject to availability, provided that the Employee promptly shall reimburse the marginal cost to the Company of such use.
10. Permitted Outside employment and directorships: None. TO: Flagstone Réassurance Suisse SA (Bermuda Branch) I, GXX XXXXXX, HEREBY UNDERTAKE THE FOLLOWING:
1. That during and after the course of my employment with Flagstone Réassurance Suisse SA (Bermuda Branch) or any of its affiliates, I will keep secret the affairs and concerns of my employer and the Flagstone group of companies (the "Company"), and the nature and particulars of the Company including, but not limited to its investors, clients, transactions, trading models and trading strategies or the financial results or performance figures of the Company or any client or strategy that may come to my attention during the course of my employment with the Company ("Confidential Information").
2. That upon my departure from the Company, I will not disclose to any person the affairs of the Company, including, but not limited to its investors, clients, transactions, trading models and trading strategies that may come to my attention during the course of my employment with the Company.
3. That upon my departure from the Company, I will not take with me any Confidential Information belonging to or concerning the Company, or its clients, whether in printed form or on any electronic storage device.
4. In the event that I do have in my possession any Confidential Information following my departure from the Company, I undertake to deliver such information to the Company within 3 days of my departure. If personal delivery of such information is either not possible or inconvenient, I undertake to contact the Chief Executive Officer of the Company and arrange a suitable method of disposal of such confidential information within three days of my departure.
5. In the event that I am legally required to disclose any Confidential Information to a third party, I agree to: (i) promptly notify the Company of the existence, terms and circumstances surrounding such possible disclosure; (ii) consult with the Company on the advisability of taking legally available steps to resist or narrow such disclosure; (iii) unless prohibited by law, supply the Company with copies of all communications between me and any third party to whom disclosure is to be made or by whose order it is to be made; and (iv) cooperate with any of the Com...
Use of Company Aircraft. Executive shall have use of the Company’s “Flight Options” fractional ownership aircraft, or any substitute or replacement private aircraft wholly or partially owned, or leased, chartered by the Company or otherwise made available by the Company to any executive officers of the Company (collectively, the “Company Plane”) for personal use, provided that such personal use shall not interfere with the business use of the Company Plane. Family members and/or other guests may accompany Executive on Company Plane flights, whether such flights are for personal use, business use or a combination thereof, as seating permits. When using the Company Plane for a flight that is exclusively for personal use, Executive shall reimburse the Company for the out-of-pocket cost to the Company of such flight as invoiced by Flight Options LLC or a successor owner, charterer, lessor or servicer of the Company Plane, as the case may be (the “Invoiced Amount”). When using the Company Plane on a flight that has a bona fide business-related purpose (whether or not such business-related purpose is the sole purpose of such flight), Executive shall reimburse the Company for any personal use in respect of such flight in an amount that is computed in accordance with the provisions of section 274(e) of the Code and regulations promulgated thereunder and any applicable interpretations by the U.S. Internal Revenue Service (the “IRS Amount”); provided, however, that if the IRS Amount is greater than the Invoiced Amount for such flight, then Executive shall reimburse the Company for the Invoiced Amount, instead of the IRS Amount, for such flight.
