![]() ![]() The Annual Stadium Operating Budget will include a projection of the Stadium Operating Revenue (as defined in Article 10 below) and overall Stadium expenses for that year, and will itemize those costs and expenses that will constitute Reimbursable Expenses (i.e., costs and expenses subject to 49ers Stadium Company reimbursement) and those that will constitute Stadium Authority Discretionary Expenses (i.e., costs and expenses not subject to 49ers Stadium Company reimbursement). The Stadium Authority Discretionary Expenses will be paid for by another funding source, such as the Stadium Authority Discretionary Fund, or will not be incurred. In addition, "Discretionary Expenses" shall include for a given Pod any liability for federal, state, local or other taxes attributable to the merger into Medical Group (or attributable to taxable periods preceding the merger) of any entity owned by one or more Medical Group Physicians practicing in such Pod provided, however that there shall be excluded any such tax liability if and to the extent that Medical Group or PQC has received payment from the Physician Members of the applicable Pod pursuant to the indemnification provisions of any agreement of merger pursuant to which the said merger has occurred and provided, further that if any such Discretionary Expense arises prior to an initial public offering of PQC stock, the Joint Policy Board may recommend to PQC that it consider taking steps to finance such taxes or otherwise stage the imposition of such Discretionary Expenses over a period of three years, which recommendation shall be subject to the Board of Directors of PQC.Įxamples of Discretionary Expenses in a sentence With respect to any Fiscal Period commencing after December 31, 1996, Discretionary Expenses means any personnel, operating and other expenses, including Physician Pod Practice Expenses, over and above the standard levels developed by the Joint Policy Board and approved by PQC and included in a Pod's annual operating budget, as adjusted from time to time in accordance with Appendix B attached hereto or the terms of any Employment Agreement. ![]() Discretionary Expenses means, during the Fiscal Period ended - December 31, 1996, any increase in actual staffing or other expenses, including Physician Pod Practice Expenses, above the levels set forth in Appendix D to this Agreement, subject to adjustment in successive Fiscal Periods pursuant to approval by the Joint Policy Board as part of the budgetary process contemplated in Appendix A to the form of Employment Agreement attached hereto.
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