Common use of Additional Reimbursements Clause in Contracts

Additional Reimbursements. Bank or Company shall also reimburse Executive for the following expenses incurred by him during the Term: a. Country club membership, at full equity membership level, and monthly dues (including minimum mandatory periodic expenditures) up to One Thousand dollars ($1,000) per month; provided, that (i) Executive’s country club membership fees shall not be reimbursed hereunder unless at least 75% of the amounts paid for membership (other than monthly dues) are fully refundable to Executive by such country club upon the termination of Executive’s membership at such country club, with Executive having provided reasonably satisfactory evidence to Bank and Company of the refundable nature of such country club membership fees, (ii) reimbursement for country club membership (other than monthly dues) shall not exceed One Hundred Thousand dollars ($100,000), and (iii) upon the termination of Executive’s membership with any country club for which Executive has received reimbursement hereunder or the termination of Executive’s employment with Bank and Company, Executive shall promptly remit to Bank and Company all amounts refunded to him (or in the case of a termination of employment, the amount that would be refundable to him at the time of such termination if he terminates the country club membership then) by any country club for membership fees; b. Reasonable health club membership dues and, if necessary, initiation fees; c. Reasonable costs charged by a professional mover for moving Executive’s and his family’s tangible personal property (such as household furniture and personal effects) from their current residence to their new residence provided, that, Executive shall obtain at least two (2) estimates from professional movers; d. Once weekly round-trip airfare between Southern California and Northern California during the first 180 (180) days of the Term; and e. Reasonable expenses for a hotel or other accommodation for up to the first 180 (180) days during the Term while relocating.

Additional Reimbursements. Bank or Company shall also reimburse Executive for the following expenses incurred by him during the Term: a. Country club membership, at full equity membership level, and monthly dues (including minimum mandatory periodic expenditures) up to One Thousand dollars ($1,000) per month; provided, that (i) Executive’s country club membership fees shall not be reimbursed hereunder unless at least 75% of the amounts paid for membership (other than monthly dues) are fully refundable to Executive by such country club upon the termination of Executive’s membership at such country club, with Executive having provided reasonably satisfactory evidence to Bank and Company of the refundable nature of such country club membership fees, (ii) reimbursement for country club membership (other than monthly dues) shall not exceed One Hundred Thousand dollars ($100,000), and (iii) upon the termination of Executive’s membership with any country club for which Executive has received reimbursement hereunder or the termination of Executive’s employment with Bank and Company, Executive shall promptly remit to Bank and Company all amounts refunded to him (or in the case of a termination of employment, the amount that would be refundable to him at the time of such termination if he terminates the country club membership then) by any country club for membership fees; b. Reasonable health club membership dues and, if necessary, initiation fees; c. Reasonable costs charged by a professional mover for moving Executive’s and his family’s tangible personal property (such as household furniture and personal effects) from their current residence to their new residence provided, that, Executive shall obtain at least two (2) estimates from professional movers; d. Once weekly round-trip airfare between Southern California and Northern California during the first 180 ninety (18090) days of the Term; and e. Reasonable expenses for a hotel or other accommodation for up to the first 180 ninety (18090) days during the Term while relocating.