Common use of Relocation Benefit Clause in Contracts

Relocation Benefit. The Company shall provide Executive with professional assistance and reimbursement and/or payment of eligible expenses for the purpose of relocating himself and his family to within a reasonable commuting distance from the Company’s headquarters (“Relocation Benefit”). The Relocation Benefit is intended to cover expenses as required for household goods move, temporary housing, temporary storage of household goods, in-transit expenses, home sale assistance, miscellaneous housing allowance, and new home closing assistance, up to a maximum expense of $200,000. The Relocation Benefit will be provided in accordance with the terms of the Company’s relocation policy. Non-deductible relocation expenses will be eligible for tax gross up with the exception of the miscellaneous housing allowance. Section 9.2 hereunder specifies circumstances under which the Executive could be required to reimburse the Company for some or all of the expenses paid to him or for his benefit under this Section.

Relocation Benefit. The Company shall will continue to provide Executive with professional assistance and reimbursement and/or payment of eligible expenses for the purpose of relocating himself and his family to within a reasonable commuting distance from the Company’s headquarters (“Relocation Benefit”). The Relocation Benefit is intended to cover expenses as required for household goods move, temporary housing, temporary storage of household goods, in-transit expenses, home sale assistance, miscellaneous housing allowance, and new home closing assistance, up to a maximum expense of $200,000. The Relocation Benefit will be provided in accordance with the terms of the Company’s relocation policy. Non-deductible relocation expenses will be eligible for tax gross up with the exception of the miscellaneous housing allowance. Section 9.2 hereunder specifies circumstances under which the Executive could be required to reimburse the Company for some or all of the expenses paid to him or for his benefit under this Section.