Abercrombie & Fitch 2010 Annual Report Download - page 116

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Section 2. Term. This Agreement shall be in effect for an indefinite time period (the "Term"); provided, however, that the LESSEE or the LESSOR may
terminate this Agreement at any time by giving the other Party thirty (30) days' prior written notice of his or its intention to terminate, with such termination to
be effective on the 30th day following the giving of such notice.
Section 3. Charge. LESSEE shall pay LESSOR for each flight conducted under this Agreement all or so much of the actual expenses of each specific flight
as authorized by FAR Part 91.501(d) as may be requested for payment by LESSOR.
3.1 These expenses include and are limited to:
(a) Fuel, oil, lubricants, and other additives;
(b) Travel expenses of the crew, including food, lodging and ground transportation;
(c) Hangar and tie down costs away from the Aircraft's base of operation;
(d) Insurance obtained for the specific flight;
(e) Landing fees, airport taxes and similar assessments including, but not limited to,
Internal Revenue Code Section 4261 and related federal excise taxes;
(f) Customs, foreign permit, and similar fees directly related to the flight;
(g) In-flight food and beverages;
(h) Passenger ground transportation;
(i) Flight planning and weather contract services; and
(j) An additional charge equal to 100% of the expenses listed in subparagraph (a) of this paragraph.
3.2 Such charge shall be determined by the LESSOR, in its sole discretion, based on its actual expenses incurred with respect to each flight under this
Agreement, and broken down by the expenses permitted under 14 C.F.R. ยง 91.501(d). The LESSOR shall invoice the LESSEE monthly for such charges
incurred during the immediately preceding month, and the LESSEE shall pay the LESSOR the amount of each such bill within 30 days of receipt, provided
that the invoice relating to the final month of each fiscal year of the LESSOR shall include a "true up" of the LESSEE's charges, subject to the limitation on
the LESSEE's charges set forth above in this Section 3, for such fiscal year, with any necessary adjustment to the LESSEE's charges that were shown on prior
invoices during the fiscal year to be reflected as a credit against, or addition to, the amount shown on the invoice for the final month in such fiscal year.
Section 4. Location and Use of the Aircraft.
4.1. Location of Aircraft. The Aircraft shall be principally hangared at Port Columbus International Airport, Columbus, Ohio during the Term. The
Aircraft shall at all times be registered in the United States.
4.2. Use of Aircraft. The LESSEE may use the Aircraft only for flights under this Agreement that fall within the scope of operations that may be
conducted under a time-sharing agreement as described in FAR 91.501(b)(6), (b)(10) and (c)(1). LESSEE will solely use the Aircraft, consistent with the
NetJets Program Documents for and on account of his own personal or business use, and will not use the Aircraft for the purpose of providing transportation
of passengers or cargo for compensation or hire. The LESSEE may use the Aircraft for flights in any geographic area of his choice except that the LESSEE
agrees that he will not use the Aircraft for flights into or over any area involved in war or insurrection. Further, the LESSEE may use the Aircraft only for the
purposes, and within the geographic limits, set forth in the insurance policy or policies obtained pursuant