Relocation and Commuting Benefits Sample Clauses

Relocation and Commuting Benefits. For a two year period commencing with the execution of this Agreement, while the Executive remains an employee of the Company and commutes from Portland, Oregon, the Company shall lease in its name for the benefit and control of the Executive, a reasonably priced fully-furnished two bedroom apartment or two bedroom condominium in the Phoenix, Arizona area (maximum 2,500 square feet). During this two year period, the Company shall pay reasonable costs of coach class airline tickets for weekly travel for the Executive or his wife between Portland, Oregon and Phoenix, Arizona. Following this two year period, the Executive shall be responsible for all further commuting costs.
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Relocation and Commuting Benefits. The Company will pay all reasonable and ordinary costs of relocating from Pleasanton, California, to the Phoenix area, usable within two (2) years of Executive's employment date. This includes costs associated with house-hunting trips, normal selling costs for the home in Pleasanton, normal buying costs of the home in the Phoenix area, and a payment of the equivalent of one (1) month's salary for miscellaneous relocation expenses. The Company agrees to pay commuting costs, temporary housing costs and a car lease for up to two (2) years or until residence has been established in the Phoenix area, whichever occurs sooner. To the extent that any relocation/commuting benefits are taxable to Executive, the Company will pay a full gross-up (except to the extent that such expenditures by Executive may be deducted on Executive's personal income tax) so that the amounts paid by the Company, net of Executive's taxes, fully cover the relevant expenses.
Sample 1
Relocation and Commuting Benefits. The Company will pay all reasonable and ordinary costs of relocating from San Jose, California, to the Phoenix area. This includes costs associated with house-hunting trips, normal selling costs for the home in San Jose, normal buying costs of the home in the Phoenix area, and a payment of the equivalent of one (1) month's salary for miscellaneous relocation expenses. The Company agrees to provide a bridge loan at an interest rate of seven percent (7%) if necessary to facilitate the real estate transactions for a period of no more than six (6) months. The Company agrees to pay either rent or a house payment (PITI) in the Phoenix area until such time as the Executive's house in San Jose xx sold or six months, whichever occurs sooner. To the extent that any relocation/commuting benefits are taxable to Executive, the Company will pay a full gross-up (except to the extent that such expenditures by Executive may be deducted on Executive's personal income tax) so that the amounts paid by the Company, net of Executive's taxes, fully cover the relevant expenses.
Sample 1
Relocation and Commuting Benefits. You will be expected to relocate to the Atlanta area within a reasonable time following your commencement of employment. Until such reasonable time is completed, the Company will provide various commuting benefits to you. The Company views that a reasonable time frame for you to commute to the Atlanta area, should not exceed twenty-four (24) months from your initial date of employment. During this time and at Company expense, MiMedx will provide an apartment in the Atlanta, Georgia area for you to reside during the days of the week that you work from the Company’s Marietta office. The Company will pay for your weekly airfare to and from Wilmington and Atlanta, subject to the other applicable terms and conditions of Company’s business expense policies. If you choose to remain in the Atlanta area over a weekend, the Company will pay for your spouse’s reasonable airfare to and from Wilmington and Atlanta for one weekend each month. Also at Company expense, MiMedx will secure a rental car on a long-term rental arrangement that you will be able to use during your time in Marietta. After this initial period of 24 months, you will be required to relocate your primary residence to the Atlanta metropolitan area. In connection with your relocation, the Company will provide you with a reasonable relocation benefits package to include reimbursement for 1) expenses associated with movement of household goods and vehicles, appliance servicing and storage; 2) expenses for house hunting trips; 3) temporary living expenses; 4) expenses associated with the sale of former residence, if applicable, including attorney’s costs, real estate broker fees and other expenses that are traditionally the responsibility of the seller; 5) expenses associated with the purchase of new residence including legal fees and other expenses that are traditionally the responsibility of the purchaser; 6) miscellaneous expense allowance; and 7) tax gross up for relocation expenses which are taxable to you. The Company’s relocation policy includes a requirement that you to repay such benefits in the event that you voluntarily resign from the Company within 12 months after the latest date on which you received any such benefits. The expenses incurred and reimbursed during the period in which you are commuting between Wilmington, NC and Atlanta, GA will not be subject to any repayment obligation. Innovations In Regenerative Biomaterials MiMedx Group, Inc. | 0000 Xxxx Xxx Xxxxxxx Xx XX | Xxxxxxxx, XX 00...
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Related to Relocation and Commuting Benefits

  • Relocation Benefits If the Executive moves his residence in order to pursue other business or employment opportunities during the Continuation Period and requests in writing that the Company provide relocation services, he will be reimbursed for any expenses incurred in that initial relocation (including taxes payable on the reimbursement) which are not reimbursed by another employer. Benefits under this provision will include assistance in selling the Executive's home and all other assistance and benefits which were customarily provided by the Company to transferred executives prior to the Change in Control.

  • Outplacement Benefits The Executive may, if the Executive so elects, receive outplacement assistance and services at the Company’s expense for a period of two (2) years following the Date of Termination. These services will be provided by a national firm selected by the Company whose primary business is outplacement assistance. Notwithstanding the above, if the Executive accepts employment with another employer, these outplacement benefits shall cease on the date of such acceptance.

  • Vacation; Benefits During the Term, the Executive shall be eligible for 20 vacation days annually, which shall be accrued and used in accordance with the applicable policies of the Company. During the Term, the Executive shall be eligible to participate in such medical, dental and life insurance, retirement and other plans as the Company may have or establish from time to time on terms and conditions applicable to other senior executives of the Company generally. The foregoing, however, shall not be construed to require the Company to establish any such plans or to prevent the modification or termination of such plans once established.

  • Separation Benefits If this Agreement is terminated either by the Company without Cause in accordance with Section 6(c) (including the Company’s non-renewal of this Agreement) or by Employee resigning his employment for Good Reason in accordance with Section 6(d), the Company shall have no further obligation to Employee under this Agreement, except the Company shall provide the Accrued Obligations to Employee in accordance with Section 7(a) plus the following payments and benefits (collectively, the “Separation Benefits”) to Employee: (i) an amount equal to one times the sum of the Base Salary in effect immediately before the Termination Date plus the Annual Bonus received by Employee for the fiscal year preceding the Termination Date (or if Employee was employed for less than one full fiscal year prior to the Termination Date, the Annual Bonus for purposes of this Section 7 shall be the Annual Bonus payable during the current fiscal year at the target amount provided above) (together, the “Separation Pay”); and (ii) during the six-month period commencing on the Termination Date that Employee is eligible to elect and elects to continue coverage for himself and his eligible dependents under the Company’s group heath insurance plan pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), or similar state law, the Company shall reimburse Employee on a monthly basis for the difference between the amount Employee pays to effect and continue such coverage under COBRA and the employee contribution amount that active employees of the Company pay for the same or similar coverage; provided, however, that Employee shall notify the Company in writing within five days after he becomes eligible after the Termination Date for group health insurance coverage, if any, through subsequent employment or otherwise and the Company shall have no further reimbursement obligation after Employee becomes eligible for group health insurance coverage due to subsequent employment or otherwise. The Separation Pay shall be paid to Employee in a lump sum within 60 days of the Termination Date; provided, however, that no Separation Pay shall be paid to Employee unless the Company receives, on or within 55 days after the Termination Date, an executed and fully effective copy of the Release (as defined below). Any COBRA reimbursements due under this Section shall be made by the last day of the month following the month in which the applicable premiums were paid by Employee. For the avoidance of doubt, Employee shall not be entitled to the Separation Benefits if this Agreement is terminated (i) due to Employee’s death; (ii) by the Company due to Employee’s Inability to Perform; (iii) by the Company for Cause; (iv) by Employee without Good Reason; or (v) by non-renewal by Employee in accordance with Sections 4(b) and 6(f).

  • Employment Benefits In addition to the Salary payable to the Executive hereunder, the Executive shall be entitled to the following benefits:

  • Separation Pay and Benefits Specifically in consideration of your signing this Agreement and subject to the limitations, obligations, and other provisions contained in this Agreement, the Company agrees as follows:

  • Vacation and Benefits The Executive is entitled to four (4) weeks of vacation, which will accrue on a pro-rata basis during the employment year, in addition to all public holidays when the office is closed. Executive will be eligible to participate in all employee benefit plans established by the Company for its employees from time to time, subject to general eligibility and participation provisions set forth in such plans. In accordance with Company policies from time to time and subject to proper documentation, the Company will reimburse you for all reasonable and proper travel and business expenses incurred by you in the performance of your duties.

  • Vacation and Fringe Benefits During the Employment Period, the Executive shall be entitled to paid vacation and fringe benefits at a level that is commensurate with the paid vacation and fringe benefits available to the Executive immediately prior to the Effective Date, or, if more favorable to the Executive, at the level made available from time to time to the Executive or other similarly situated officers at any time thereafter.

  • Severance Benefits To the extent that Employee shall be entitled to receive Severance Benefits pursuant to Section 4(d) or 4(e) hereof, Company and Employee agree that the following shall apply: (i) "Severance Benefits" shall mean: (A) a continuation of Employee's then effective salary as payable pursuant to Section 3(a) hereof during the Severance Period (as defined below); (B) payment of any bonus payable to Employee pursuant to Section 3(c) hereof, calculated based on the full Company bonus payable thereunder (subject to attainment by Company of any objective financial or performance standards applicable to Company) and prorated for any period during the Severance Period that is less than the full twelve (12) month period in which such bonus would be earned; (C) immediate vesting and payment of any Option Payments; and (D) continuation during the Severance Period of any medical/dental care coverage (or the reasonable equivalent thereof) which Employee is receiving as of the date of termination of the Period of Employment, provided that such insurance coverage shall terminate prior to the expiration of the Severance Period as of the first date that Employee is covered under another employer's health benefit program which provides substantially the same level of benefits without exclusion for pre-existing medical conditions. Such coverage shall be in lieu of any other continued health care coverage to which Employee or his dependents would otherwise be entitled in accordance with the requirements of the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended ("COBRA"), by reason of Employee's termination of employment. (ii) "Severance Period" shall mean a period of twenty-four (24) months following the termination of the Period of Employment pursuant to Section 4(d) or 4(e) hereof. (iii) Company shall be entitled to a credit for any amounts paid pursuant to Part One, Paragraph 1 of the Change of Control Agreement for any amounts payable pursuant to Paragraph (i)(A) and (i)(B) above as part of any Severance Benefits payable hereunder. (iv) Except as provided in Section 6 below, the Severance Benefits shall be received by Employee in lieu of any other right Employee may have under applicable law, Company or Parent policies or plans or otherwise with respect to any payments or compensation in connection with the termination of Employee's employment with Company. (v) Employee agrees that payment of the Severance Benefits may, in the discretion of the Company, be subject to the prior execution by the Employee of a release of claims in a form provided by the Company prior to any such payment and that payment of the Severance Benefits shall be consideration for such release. (g)

  • Termination Benefits (a) If Executive’s employment is voluntarily (in accordance with Section 2(a) of this Agreement) or involuntarily terminated within two (2) years of a Change in Control, Executive shall receive:

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