Lump Sum Allowance. Once your move is scheduled, Rackspace will provide you with a one-time lump sum allowance in the amount of $100,000.00 (gross), intended to assist with usual and customary out-of-pocket relocation expenses. The allowance will be funded by the relocation provider, currently Relocation Synergy Group (RSG). You are responsible for applicable taxes on the payment. Temporary Living Rackspace will provide you and your family with temporary accommodations up to a maximum of 60 days. RSG will book these arrangements for you in accordance with Rackspace guidelines. Rackspace will cover up to two trips home while in temporary living. Reimbursement of economy flights or mileage will be at the IRS current rate only. Home Search Trip Covered by lump sum allowance. Final Relocation Trip Covered by lump sum allowance. Home Marketing Assistance Referral to RSG approved broker; assistance with marketing strategies and contract negotiations. No home sale closing costs. Home Search/Rental Assistance Referral to RSG approved broker or rental agent; with preferred mortgage lender, if applicable. No new home closing costs will be covered.
Appears in 2 contracts
Samples: Employment Agreement (Rackspace Technology, Inc.), Employment Agreement (Rackspace Technology, Inc.)
Lump Sum Allowance. Once your move is scheduled, Rackspace will provide you with a one-time lump sum allowance in the amount of $100,000.00 75,000.00 (gross), intended to assist with usual and customary out-of-pocket relocation expenses. The allowance will be funded by the relocation provider, currently Relocation Synergy Group (RSG). You are responsible for applicable taxes on the payment. Temporary Living Rackspace will provide you and your family with temporary accommodations up to a maximum of 60 days. RSG will book these arrangements for you in accordance with Rackspace guidelines. Rackspace will cover up to two trips home while in temporary living. Reimbursement of economy flights or mileage will be at the IRS current rate only. Home Search Trip Covered by lump sum allowance. Final Relocation Trip Covered by lump sum allowance. Home Marketing Assistance Referral to RSG approved broker; assistance with marketing strategies and contract negotiations. No home sale closing costs. Home Search/Rental Assistance Referral to RSG approved broker or rental agent; with preferred mortgage lender, if applicable. No new home closing costs will be covered.
Appears in 2 contracts
Samples: Employment Agreement (Rackspace Technology, Inc.), Employment Agreement (Rackspace Technology, Inc.)
