Common use of Relocation and Moving Expenses Clause in Contracts

Relocation and Moving Expenses. In addition to the Benefits Plans, the Company or its affiliates shall provide the Executive with the following additional benefits: (i) an unsecured, subordinated loan from the Company or its affiliates in such amount as requested by the Executive, not to exceed $500,000, bearing interest at the then applicable federal rate for loans with a one-year maturity date published by the Internal Revenue Service from time to time under Section 1274(d) of the Internal Revenue Code to enable the Executive to purchase a new home, (ii) transitional housing expenses for the period from the Effective Date until the Executive purchases a new home in an amount not to exceed $4,300 per a month, (iii) relocation and moving expenses paid by the Executive within twelve months from the Effective Date, which shall include the fees, if any, required to be paid by the Executive to realtors in Dublin, Ohio and Vancouver, Washington, and household moving fees and closing costs, in an amount not to exceed $45,000), and (iv) the costs incurred in connection with (a) three round trips to Portland, Oregon for the Executive’s immediate family and (b) five round trips to Portland, Oregon for the Executive.