Compensation and Expenses of Trustees Clause Samples

Compensation and Expenses of Trustees. (a) The Issuer covenants and agrees to pay to the Trustee from time to time, and the Trustee shall be entitled to, such compensation for all services rendered by it hereunder in any capacity (which shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust) as mutually agreed to from time to time in writing between the Issuer and the Trustee, and the Issuer will pay or reimburse the Trustee upon its request for all reasonable expenses, disbursements and advances reasonably incurred or made by the Trustee in accordance with any of the provisions of this Indenture (including the reasonable compensation and the expenses and disbursements of its counsel and of all Persons not regularly in its employ) except any such expense, disbursement or advance as may arise from its negligence, willful misconduct or bad faith. (b) The Issuer will pay to the Co-Trustee the following fees for its services under this Indenture: (i) For each of the years from the second year of the trust hereunder (that is from the expiry of 12 months from the date of this Indenture) in which there are still Notes outstanding, a sum of $10,000 (referred to in this section 7.05(b) as: the “Annual Fee”). The Annual Fee will be paid to the Co-Trustee at the beginning of each year of the trust. The Annual Fee will be paid to the Co- Trustee for the period until the end of the period of the trust pursuant to the terms of this Indenture even if a receiver and/or an administrative receiver is appointed for the Issuer and/or even if the trust pursuant to this Indenture is managed under the supervision of a court. If the term of the Co-Trustee’s office has come to an end, the Co-Trustee will not be entitled to the payment of its fee from the date on which its term of office has ended. Should the term of the Co-Trustee’s office come to an end during the course of a year of the trust, the Co-Trustee will refund to the Issuer the portion of the Annual Fee paid for the months on which the it has not acted as a Co-Trustee. The Annual Fee is not payable for the first year of the trust; and (ii) The Co-Trustee is entitled to payment for the time actually spent by the Co-Trustee in connection with this Indenture and the trust hereunder prior the execution of this Indenture in the total amount of approximately $5,000; and (iii) The Co-Trustee will be entitled to the reimbursement of the reasonable expenses that it has incurred in the fulfillment of its roles and ...

Compensation and Expenses of Trustees. (a) The Trustees shall receive compensation from the PI Trust for their services as Trustees in the amount of $25,000.00 per annum, plus a per diem allowance in the amount of $2,000.00 for Trustee meetings and, for Trustees other than the Managing Trustee only, for other PI Trust business performed. The Managing Trustee shall be compensated an additional $25,000 per annum for his or her services as Managing Trustee. For purposes of the per diem allowance, PI Trust business includes, but is not limited to, attendance at meetings of Reorganized Raytech's Board of Directors. For purposes of section 7.4 below, the Trustees shall determine the scope and duration of activities that constitute a meeting and, if the Trustees elect to provide for payment for activities of less than a full day's duration, may provide for partial payment of per diem amounts on a proportional basis for activities of less than a full day's duration. The per annum and per diem compensation payable to the Trustees hereunder shall be reviewed every three (3) years and appropriately adjusted for changes in the cost of living. Any other changes in compensation of the Trustees shall be made subject to the approval of the Bankruptcy Court. (b) The PI Trust will promptly reimburse the Trustees for all reasonable out-of-pocket costs and expenses incurred by the Trustees in connection with the performance of their duties hereunder. (c) The PI Trust shall include a description of the amounts paid under this Section 4.6 in the accounts to be filed with the Bankruptcy Court and provided to the TAC, the Legal Representative, and Reorganized Raytech pursuant to Section 2.2(c)(i).

Compensation and Expenses of Trustees. Any Trustee (other than Trustees who are also employees of General Electric Company or any subsidiary or controlled company thereof) may receive compensation for services performed as a Trustee in an amount to be determined by the Trustees; provided, however, that any change in compensation previously reported to the Unitholders as being paid to the Trustees shall be reported to the Unitholders in the Annual Report of the Fund next published after such change. While Trustees who are also General Electric Company employees will serve without compensation, the Fund will be required to reimburse the portion of the remuneration such Trustees receive from General Electric Company which is allocable to the time they spend on Fund matters. Compensation of the Trustees as provided herein, of any agents, employee or counsel of the Trustees and the expenses of administration shall be paid out of the Fund.

Compensation and Expenses of Trustees. (a) The Trustees shall receive compensation from the PI Trust for their services as Trustees in the amount of $65,000.00 per annum, except that the Managing Trustee shall receive $75,000.00 per annum for his or her service. All Trustees shall receive a per diem allowance for meetings in the amount of $2,500.00, which amount shall not be charged against the annual retainer. A meeting is any scheduled, emergency or sub-committee meeting of the Trustees that is noticed and/or authorized by the chairperson in which participation is either in person or telephonically and the duration of which is no less than two (2) hours and not in excess of five (5) hours. For all other time expended in preparation, authorized special projects, and time in excess of the (5) hours in a meeting, the Trustees shall receive the sum of $450 per hour, and the sum of $225 per hour for non-working travel time, in both cases computed on a quarter-hour basis. The Trustees shall have complete discretion to determine whether a meeting occurred, for purposes of this section. The per annum and per diem compensation payable to the Trustees hereunder shall be reviewed every year and appropriately adjusted for changes in the cost of living. Any other changes in compensation of the Trustees shall be made subject to the approval of the Bankruptcy Court. The Delaware Trustee shall be paid such compensation as is agreed pursuant to a separate fee agreement. (b) The PI Trust will promptly reimburse the Trustees and the Delaware Trustee for all reasonable out-of-pocket costs and expenses incurred by the Trustees in connection with the performance of their duties hereunder. (c) The Trustees shall include a description of the amounts paid under this Section 4.5 in the Annual Report.

Compensation and Expenses of Trustees. Any Trustee (other than Trustees who are also employees of General Electric Company or any subsidiary or controlled company thereof) may receive compensation for services performed as a Trustee in an amount to be determined by the Trustees; provided, however, that any change in compensation previously reported to the Unitholders as being paid to the Trustees shall be reported to the Unitholders in the Annual Report of the Fund next published after such change. Compensation of the Trustees as provided herein, of any agents, employees or counsel of the Trustees and the expenses of administration shall be paid out of the Fund.

Compensation and Expenses of Trustees. (a) Each of the Trustees shall receive compensation for his or her services as Trustee in the amount of $3 0, 000 per annum (as increased in the case of Trustee-Directors in the manner provided in the next sentence) plus $1,000 per them for each meeting of the Trustees or any committee or subcommittee thereof attended by such Trustee or for special duties performed by such Trustee on behalf of the Trust, and $1,000 for each day of transcontinental travel in connection with attendance at any such meeting or performance of any such special duties. Each Trustee-Director shall receive from the Trust the per them and travel allowances referred to in the immediately preceding sentence for such Trustee-Director's attendance at each board, committee and subcommittee meeting of each Portfolio Company of which he or she serves as a director at the request of the Trust; and commencing October 1, 1993 the annual retainer amount referred to in the immediately preceding sentence shall be increased in the case of a Trustee-Director by $18,750 for each Portfolio Company directorship, and by $1,875 for each Portfolio Company committee chairmanship, held by such Trustee-Director at the request of the Trust, In addition, the Managing Trustee (if one is elected pursuant to the Bylaws) shall receive, for his or her part-time services on behalf of the Trust, the sum of $1,500 for each day on which the services rendered by him or her in such capacity occupy a majority of his or her time, All compensation amounts referred to above shall be increased or decreased annually after November 28, 1988 (except the incremental annual amounts payable to Trustee-Directors in respect of each Portfolio Company directorship and committee chairmanship, which amounts shall be increased or decreased annually after October 1, 1993) at the rate of the Consumer Price Index for urban wage earners and clerical workers (U.S. City Average) unadjusted for seasonal variation, published by the Bureau of labor Statistics of the United States Department of labor, or otherwise by the Trustees with the approval of the Court. In addition to and notwithstanding the foregoing, any such compensation amounts may be increased by the Trustees to such greater amounts as the Trustees may reasonably determine from time to time to be appropriate to provide compensation to the Trustees for their services as Trustees and for their service as directors and committee chairmen of portfolio companies at levels comparable to th...

Compensation and Expenses of Trustees. (a) The Class 7A Trustee shall receive a retainer from the PD Trust for his or her service as a Trustee in the amount of $ per annum, and the Class 7B Trustee shall receive a retainer from the ZAI Trust Assets in the PD Trust for his or her service as a Trustee in the amount of $ per annum. These retainers shall be payable in quarterly installments. In addition, for all time expended attending Trustee meetings, traveling to meetings, preparing for such meetings, and working on authorized special projects, the Trustees shall receive the sum of $ per hour, computed on a quarter-hour basis. The Trustees shall record all hourly time to be charged to the Trust on a daily basis. The per annum retainer and hourly compensation payable to the Class 7A Trustee hereunder shall be reviewed every year by the PD FCR, and the per annum retainer and hourly compensation payable to the Class 7B Trustee hereunder shall be reviewed every year by the PD FCR and the remaining members of the ZTAC Members. The per annum retainer and hourly compensation for the Trustees shall be appropriately adjusted for changes in the cost of living. The Delaware Trustee shall be paid such compensation as agreed to pursuant to a separate fee agreement. (b) The PD Trust will promptly reimburse the Trustees and the Delaware Trustee for all reasonable out-of-pocket costs and expenses incurred by the Trustees or the Delaware Trustee in connection with the performance of their duties hereunder, provided, however, that ZAI Trust Assets will be used to reimburse the Class 7B Trust and for the share of the Delaware Trustee’s costs and expenses allocable to Class 7B. (c) The PD Trust shall include a description of the amounts paid under this Section 4.5 in the Annual Report.

Compensation and Expenses of Trustees. (a) Each of the Trustees shall receive compensation from the Trust for his or her services as Trustee in the amount of $50,000 per annum, plus a per diem allowance for meetings or other Trust business attended in the amount of $2,000. The Trustees shall determine the scope and duration of activities that constitute a meeting and, if the Trustees elect to provide for payment for activities of less than a full day's duration, may provide for partial payment of per diem amounts on a proportional basis for activities of less than a full day's duration. The per annum compensation payable to the Trustees hereunder shall be reviewed every three (3) years and increased with the consent of the TAC and the Legal Representative. (b) The Trust will promptly reimburse all Trustees and the Chairperson for all reasonable out-of-pocket costs and expenses incurred by the Trustees in connection with the performance of their duties hereunder. (c) The Trust will include in the report to be filed pursuant to Article 3.2

Compensation and Expenses of Trustees. The Trustees shall be entitled to receive such reasonable compensation for their services as shall be agreed upon by Employer and the Trustees. The Trustees shall also be entitled to receive their reasonable expenses incurred with respect to the administration of the Trust, including fees incurred by the Trustees pursuant to Section 8(c) and 8(d) of this Trust Agreement and, to the extent not paid from Trust assets, payments made pursuant to Section 8(g) of this Trust Agreement.