Executive Relocation Sample Clauses

Executive Relocation. The Executive agrees to relocate as necessary and at the Company’s discretion. The Company agrees to reimburse expenses directly related to the Executive’s relocation as outlined and approved by the Company’s “to be established” Policies and Procedures.
Sample 1
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Executive Relocation. The Company will relocate the Executive from one residence in Illinois to one new residence in Nevada or Washington, in accordance with the Aon Senior Executive Domestic Transfer Policy. In addition, the Company will provide price protection for the sale of the Executive’s Illinois residence of up to $300,000 gross as compared to the original purchase price.
Sample 1
Executive Relocation. Pursuant to the Company’s relocation policy, the Company will pay the Executive $350,000 to cover all relocation and temporary living expenses incurred by the Executive (e.g., pre-move house hunting trips, transport of household goods, final move of Executive and family, temporary storage of household goods, return visits, etc.).
Sample 1
Executive Relocation. In the event that Executive, at his election, decides to move his permanent residence to Texas, the Housing/Travel Allowance shall cease and the Company will provide Executive with the benefits of its executive relocation policy (“Relocation Benefits”) which includes: • A one time relocation allowance of $32,000. • Arrangement for packing, transport, storage up to 30 days (if applicable) and delivery and unpacking of Executive’s household goods by a national freight carrier. These services will be direct billed to the Company. • Arrangement for transport of two personal vehicles by a contracted van line or, at Executive’s election, reimbursement of $0.55 per mile for driving Executive’s vehicle(s) from Boston, Massachusetts to San Antonio, Texas. Executive will also be reimbursed reasonable meals and lodging expenses en route based on travel by the most direct route. • Final move trip (one way airfare for Executive and eligible dependents) if Executive’s cars have been shipped, arranged through the Company’s Corporate Travel Department. • Lease cancellation (for renters) – up to 2 months lease payments if breakage costs. • Boston area home closing costs (customary real estate closing costs for sale of existing home, including realtor’s commission up to 6%), but excluding seller-paid points, pro-rated taxes, pro-rated interest and sellers’ allowances. • San Antonio area normal closing costs for purchase of a new home with a maximum of 1% for loan origination fee and excluding discount points, pre-paids and homeowner association fees. All of Executive’s covered Relocation Benefits listed above (but, for the avoidance of doubt, not the Housing/Travel Allowance) will be grossed up for tax purposes. In the event of Executive’s resignation without Good Reason or termination of Executive’s employment by the Company for Cause within one year following Executive’s relocation to Texas, Executive will be required to reimburse the Company for the Relocation Benefits that the Company has covered.
Sample 1
Executive Relocation. The Company will provide Executive with the benefits of its executive relocation policy in connection with his relocation to Texas (“Relocation Benefits”) which includes: • Arrangement for packing, transport, storage up to 30 days (if applicable) and delivery and unpacking of Executive’s household goods by a national freight carrier. These services will be direct billed to the Company. • Arrangement for transport of two personal vehicles by a contracted van line or, at Executive’s election, reimbursement of $0.55 per mile for driving Executive’s vehicle(s) from Boston, Massachusetts to San Antonio, Texas. Executive will also be reimbursed reasonable meals and lodging expenses en route based on travel by the most direct route. • Final move trip (one way airfare for Executive and eligible dependents) if Executive’s cars have been shipped, arranged through the Company’s Corporate Travel Department. • Boston area home closing costs (customary real estate closing costs for sale of existing home, including realtor’s commission up to 6% of the sales price), but excluding seller-paid points, pro-rated taxes, pro-rated interest and sellers’ allowances. • In the event that Executive is unable to sell his Boston area home, the Company will provide assistance with the final sale of Executive’s Boston area home in a manner consistent with an executive relocation pursuant to a “Customary Guaranteed Purchase Option” program administered and facilitated by a third party relocation company, and the payment or reimbursement of customary seller residential real estate closing costs, together with such other benefits, assistance or services as may be authorized by the Company’s Compensation Committee. All of Executive’s covered Relocation Benefits listed above will be grossed up for tax purposes (if taxable to Executive) at the highest marginal rate of taxation.
Sample 1

Related to Executive Relocation

  • Executive Release The Executive, ON BEHALF OF HIMSELF, HIS SPOUSE, ATTORNEYS, HEIRS, EXECUTORS, ADMINISTRATORS, AGENTS, ASSIGNS AND ANY TRUSTS, PARTNERSHIPS AND OTHER ENTITIES UNDER HIS CONTROL AND ANY OTHER PERSON CLAIMING BY, THROUGH OR UNDER THE EXECUTIVE (TOGETHER, THE “EXECUTIVE PARTIES”), HEREBY GENERALLY RELEASES AND FOREVER DISCHARGES the Company, its respective predecessors, successors and assigns and its respective past and present stockholders, members, directors, officers, employees, agents, representatives, principals, insurers and attorneys (together the “Company Parties”) from any and all claims, demands, liabilities, suits, damages, losses, expenses, attorneys’ fees, obligations or causes of action, KNOWN OR UNKNOWN, CONTINGENT OR NON-CONTINGENT of any kind and every nature whatsoever, and WHETHER OR NOT ACCRUED OR MATURED, which any of them have or may have, arising out of or relating to any transaction, dealing, relationship, conduct, act or omission, OR ANY OTHER MATTERS OR THINGS OCCURRING OR EXISTING AT ANY TIME PRIOR TO AND INCLUDING THE EXECUTION DATE OF THIS RELEASE (including, but not limited to, any claim against the Company Parties based on, relating to or arising under wrongful discharge, breach of contract (whether oral or written), tort, fraud (but excluding fraudulent inducement into signing this Release), defamation, negligence, promissory estoppel, retaliatory discharge, Title VII of the Civil Rights Act of 1964, as amended, any other civil or human rights law, the Age Discrimination in Employment Act of 1967, Americans with Disabilities Act, Section 409A of the Internal Revenue Code or 1986, as amended (the “Code”) or any other applicable provisions of the Code, Employee Retirement Income Security Act of 1974, as amended, or any other federal, state or local law relating to employment or discrimination in employment) arising out of or relating to the Executive’s employment by the Company or his services as an officer or employee of the Company or any of its subsidiaries, or otherwise relating to the termination of such employment or the Agreement (collectively, “Claims”); provided, however, such general release will not limit or release the Company Parties from their respective obligations (i) under the Agreement that expressly survive termination of employment or by their terms are required to be or only capable of being performed following the Date of Termination under the Agreement, (ii) under the Company’s benefit plans and agreements that expressly survive termination of employment, including without limitation the Company’s equity incentive plans, (iii) in respect of the Executive’s services as an officer or director of the Company or any of its subsidiaries, pursuant to any director and officer indemnification agreements or insurance policies, or the certificates of incorporation or by-laws (or like constitutive documents) of the Company or any of its subsidiaries [in effect as of the date hereof or as provided by law] or [(iv) insert at the time of termination a description of any other agreements with the Company that expressly survive the Executive’s termination]. The Executive, ON BEHALF OF HIMSELF AND THE EXECUTIVE PARTIES, hereby represents and warrants that no other person or entity has initiated or, to the extent within his control, will initiate any such proceeding on his or their behalf.

  • Employment of Executive Employer hereby agrees to employ Executive, and Executive hereby agrees to be and remain in the employ of Employer, upon the terms and conditions hereinafter set forth.

  • Employment Status This Agreement does not constitute a contract of employment or impose upon Executive any obligation to remain as an employee, or impose on the Company any obligation (i) to retain Executive as an employee, (ii) to change the status of Executive as an at-will employee or (iii) to change the Company’s policies regarding termination of employment.

  • Executive Executive’s rights and obligations under this Agreement shall not be transferable by Executive by assignment or otherwise, without the prior written consent of the Company; provided, however, that if Executive shall die, all amounts then payable to Executive hereunder shall be paid in accordance with the terms of this Agreement to Executive’s devisee, legatee, or other designee, or if there be no such designee, to Executive’s estate.

  • Employment Duties The Company hereby employs the Executive for the Term (as defined in Section 2.1), to render exclusive (except as otherwise provided herein) and full-time services to the Company as Executive Vice President or in such other executive position as may be mutually agreed upon by the Company and the Executive, and to perform such other duties consistent with such position as may be assigned to the Executive by the Board of Directors or any officer of the Company senior to the Executive.

  • Cooperation With Company After Termination of Employment Following termination of Executive’s employment for any reason, Executive shall fully cooperate with the Company in all matters relating to the winding up of Executive’s pending work including, but not limited to, any litigation in which the Company is involved, and the orderly transfer of any such pending work to such other employees as may be designated by the Company.

  • EMPLOYMENT STABILITY 28.01 A The parties hereto subscribe to certain objectives and principles as follows:

  • Competition After Termination of Employment The Company shall not pay any benefit under this Agreement if the Executive, without the prior written consent of the Company and within 2 years from the Executive’s Termination of Employment, engages in, becomes interested in, directly or indirectly, as a sole proprietor, as a partner in a partnership, or as a substantial shareholder in a corporation, or becomes associated with, in the capacity of employee, director, officer, principal, agent, trustee or in any other capacity whatsoever, any enterprise conducted in the trading area (a 50 mile radius) of the business of the Company, which enterprise is, or may deemed to be, competitive with any business carried on by the Company as of the date of termination of the Executive’s employment or retirement. This section shall not apply following a Change in Control.

  • 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.

  • The Executive This Agreement is personal to the Executive and, without the prior express written consent of the Company, shall not be assignable by the Executive, except that the Executive’s rights to receive any compensation or benefits under this Agreement may be transferred or disposed of pursuant to testamentary disposition, intestate succession or pursuant to a domestic relations order. This Agreement shall inure to the benefit of and be enforceable by the Executive’s heirs, beneficiaries and/or legal representatives.

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