Common use of Minimum Remuneration Clause in Contracts

Minimum Remuneration. If in any financial year, during the currency of his tenure, the Company has no profits or its profits are inadequate, then in such an event, subject to the approval of the Shareholders as may be required, the remuneration by way of salary, perquisites and commission as specified in paragraphs I, II and III above will be paid as minimum remuneration subject to and in accordance with the provisions of Section 197 read with Schedule V of the Companies Act, 2013 (including any statutory modifications or re-enactments thereof, for the time being in force). REIMBURSEMENT OF EXPENSES: Expenses incurred by MD for travelling, boarding, lodging and entertainment including expenses of his family members and attendant(s) during business trips and expenses for use of car for official duties and communication expenses at residence shall be reimbursed at actuals and shall not be considered as perquisites.

Minimum Remuneration. If in any financial year, during the currency of his tenure, the Company has no profits or its profits are inadequate, then in such an event, subject to the approval of the Shareholders as may be required, the remuneration by way of salary, perquisites and commission as specified in paragraphs I, II and III above will be paid as minimum remuneration subject to and in accordance with the provisions of Section 197 read with Schedule V of the Companies Act, 2013 (including any statutory modifications or re-enactments thereof, for the time being in force). REIMBURSEMENT OF EXPENSES: Expenses incurred by MD ED for travelling, boarding, lodging and entertainment including expenses of his family members and attendant(s) during business trips and expenses for use of car for official duties and communication expenses at residence shall be reimbursed at actuals and shall not be considered as perquisites.

Minimum Remuneration. If in any financial year, during the currency of his tenure, the Company has no profits or its profits are inadequate, then in such an event, subject to the approval of the Shareholders as may be required, the remuneration by way of salary, perquisites and commission as specified in paragraphs I, II and III above will be paid as minimum remuneration subject to and in accordance with the provisions of Section 197 read with Schedule V of the Companies Act, 2013 (including any statutory modifications or re-enactments thereof, for the time being in force). REIMBURSEMENT OF EXPENSES: Expenses incurred by MD ACS for travelling, boarding, lodging and entertainment including expenses of his family members and attendant(s) during business trips and expenses for use of car for official duties and communication expenses at residence shall be reimbursed at actuals and shall not be considered as perquisites.