SPOR » Topics » Section 2.12 Member Expense Reimbursements.

This excerpt taken from the SPOR 8-K filed Nov 8, 2005.
Section 2.12 Member Expense Reimbursements. The Operating Manager shall, on a quarterly basis, reimburse the Members for their reasonable expenses incurred in performing their relative tasks and making their relative contributions specified above in Section 2.3. The expenses of each Member shall relate to providing services and incurring third-party expenses in connection with Company business only. Each Member shall provide to the Operating Manager, no later than 15 days after the end of a fiscal quarter, a detailed schedule of the expenses incurred by it in connection with its performance of duties in Section 2.3. If the Operating Manager disputes the amount or propriety of any tendered expenses, he shall submit the matter for consideration by the Management Committee. The Operating Manager, individually or as directed by the Management Committee, shall promptly reimburse the Members for their expenses.

 

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