Common use of Relocation Benefit Clause in Contracts

Relocation Benefit. The Company will provide relocation assistance to the Executive (in an amount up to $200,000) for relocation expenses, including an additional payment (“gross-up”) in respect of any taxable portion of the Executive’s relocation benefit such that the Executive is placed in the same after-tax position in respect of such relocation assistance as if such benefit were not taxable, all in accordance with the Company’s relocation policy. If the Executive’s employment terminates due to the Executive’s resignation, other than for Good Reason, within the first twenty-four (24) months following the Effective Date, the Executive shall be required to reimburse the Company for the full amount of the relocation benefit provided to the Executive.

Relocation Benefit. The Company will provide relocation assistance to the Executive (in an amount up to $200,000300,000) for relocation expenses, including an additional payment (“gross-up”) in respect of any taxable portion of the Executive’s relocation benefit such that the Executive is placed in the same after-tax position in respect of such relocation assistance as if such benefit were not taxable, all in accordance with the Company’s relocation policy. If the Executive’s employment terminates due to the Executive’s resignation, other than for Good Reason, within the first twenty-four (24) months following the Effective Date, the Executive shall be required to reimburse the Company for the full amount of the relocation benefit provided to the Executive.