Common use of Relocation Benefit Clause in Contracts

Relocation Benefit. Executive acknowledges that, as an express condition of his employment, and his continuing employment by the Company, Executive will relocate to the Relocation Area in accordance with the Relocation Schedule determined pursuant to Section 1.2. (i) The Company will reimburse Executive for certain reasonable, documented out-of-pocket expenses incurred as a result of Executive's permanent relocation to the Relocation Area, up to a maximum total reimbursement amount of $30,000 (the "Relocation Reimbursement"). In order to qualify for the Relocation Reimbursement, Executive must remain an employee in good standing of the Company as of the date that the applicable cost or expense is incurred. (ii) Executive will be reimbursed only for actual relocation expenses incurred, up to the maximum reimbursement noted in Section 4.2(i). Executive will be solely responsible for any relocation expenses exceeding the Relocation Reimbursement, and the Company will not be obligated to provide any additional or other relocation benefits or relocation assistance to Executive except as set forth in this Section 4.2. Executive's right to this reimbursement is subject to timely submission of appropriate documentary evidence of expenses incurred in accordance with the Company's reimbursement policies in effect from time to time. The Company will withhold from any such reimbursements the applicable income and employment tax withholdings, as Executive will be responsible for paying any taxes on these expense reimbursements to the extent that they are taxable income under applicable tax law. Any Relocation Reimbursements provided under this provision will be paid within thirty (30) days after the date Executive submits receipts for the expenses, provided Executive submits those receipts within sixty (60) days after Executive incurs the expense. (iii) If, prior to the two (2) year anniversary of the Effective Date, Executive's employment is terminated by Executive other than for Good Reason (as defined below), or the Company terminates Executive's employment for Cause (as defined below), Executive must repay a portion of the amount of the Relocation Reimbursement paid to Executive to the Company, on or within thirty (30) days after the employment termination date, prorated based on Executive's length of continued employment with the Company (e.g., if Executive is employed for one year at the time of termination and the Relocation Reimbursement was $10,000, Executive shall repay one-half of the Relocation Reimbursement to the Company—i.e., $5,000). Executive hereby agrees that, pursuant to applicable law, any such repayment obligation will be recovered from Executive's final paycheck and any other amounts owed to Executive by the Company from and after Executive's termination date.

Relocation Benefit. Executive acknowledges that, as an express condition of his employment, and his continuing employment by the Company, Executive will relocate to the Relocation Area in accordance with the Relocation Schedule determined pursuant to Section 1.2. (i) The In advance of the Executive’s employment, the Company will reimburse advance Executive reimbursement for certain reasonable, necessary and documented out-of-pocket expenses incurred as a result of Executive's permanent relocation to the Relocation Area, up to a maximum total reimbursement amount of $30,000 (the "Relocation Reimbursement"). In order to qualify for the Relocation Reimbursement, Executive must remain an employee in good standing of the Company for two years, Executive may request that these amounts be advanced as of the date that the applicable cost or expense is expenses are incurred. (ii) Executive will be reimbursed only for actual relocation expenses incurred, up to the maximum reimbursement noted in Section 4.2(i). Executive will be solely responsible for any relocation expenses exceeding the Relocation Reimbursement, and the Company will not be obligated to provide any additional or other relocation benefits or relocation assistance to Executive except as set forth in this Section 4.2. Executive's right to this reimbursement is subject to timely submission of appropriate documentary evidence of expenses incurred in accordance with the Company's reimbursement policies in effect from time to timetime and completion of two years with the Company. The Company will withhold from any such reimbursements the applicable income and employment tax withholdings, as Executive will be responsible for paying any taxes on these expense reimbursements to the extent that they are taxable income under applicable tax law. Any Relocation Reimbursements provided under this provision will be paid within thirty (30) days after the date Executive submits receipts for the expenses, provided Executive submits those receipts within sixty (60) days after Executive incurs the expense. (iii) If, prior to the two (2) year anniversary of the Effective Date, Executive's employment is terminated by Executive other than for Good Reason (as defined below), or the Company terminates Executive's employment for Cause (as defined below), Executive must repay a portion of the amount of the advanced Relocation Reimbursement paid to Executive to the Company, on or within thirty (30) days after the employment termination date, prorated based on Executive's length of continued employment with the Company (e.g., if Executive is employed for one year at the time of termination and the advanced Relocation Reimbursement was $10,000, Executive shall repay one-half of the advanced Relocation Reimbursement to the Company—i.e., $5,000). Executive hereby agrees that, pursuant to applicable law, any such repayment obligation of the advance will be recovered from Executive's final paycheck and any other amounts owed to Executive by the Company from and after Executive's termination datepaycheck.

Relocation Benefit. Company agrees to reimburse certain relocation expenses incurred and paid by Executive, or to pay certain relocation expenses on behalf of Executive, in the aggregate not to exceed $100,000 net of applicable Federal and State income tax (collectively, the “Relocation Benefits”). Executive acknowledges that, as an express condition of his employment, is required to provide receipts and his continuing employment by the Company, Executive will relocate to the Relocation Area documentation for relocation expenses in accordance with Company’s regular accounting and reimbursement policies. Eligible expenses are limited to the Relocation Schedule determined pursuant to Section 1.2. (i) The Company will reimburse Executive following: household packing and moving expenses; temporary housing for certain reasonable, documented out-of-pocket expenses incurred as a result maximum of 180 days; actual brokerage commissions on the sale of Executive's permanent relocation to the Relocation Area, up to a maximum total reimbursement amount of $30,000 ’s current/old residence; and closing costs on Executive’s new/destination or current/old residence. All reimbursable expenses must be incurred within eighteen (the "Relocation Reimbursement"). In order to qualify for the Relocation Reimbursement, Executive must remain an employee in good standing 18) months of the Commencement Date and submitted to Company as of the date that the applicable cost or expense is incurred. (ii) Executive will be reimbursed only for actual relocation expenses incurred, up to the maximum reimbursement noted in Section 4.2(i). Executive will be solely responsible for any relocation expenses exceeding the Relocation Reimbursement, and the Company will not be obligated to provide any additional or other relocation benefits or relocation assistance to Executive except as set forth in this Section 4.2. Executive's right to this reimbursement is subject to timely submission of appropriate documentary evidence of expenses incurred in accordance with the Company's reimbursement policies in effect from time to time. The Company will withhold from any such reimbursements the applicable income and employment tax withholdings, as Executive will be responsible for paying any taxes on these expense reimbursements to the extent that they are taxable income under applicable tax law. Any Relocation Reimbursements provided under this provision will be paid within thirty (30) days after from the date the expense was incurred. If Executive submits receipts for the expenses, provided Executive submits those receipts within sixty voluntarily leaves Company (60) days after Executive incurs the expense. (iii) If, prior to the two (2) year anniversary of the Effective Date, Executive's employment is terminated by Executive other than for Good Reason (as defined below), Reason) or the Company terminates Executive's employment Executive is terminated for Cause during the first year following the Commencement Date, 100% of all Relocation Benefits (net of taxes withheld by Company) provided to Executive will be immediately repaid to Company. Executive expressly authorizes Company to deduct and/or withhold from Executive’s pay to the full extent of the law any Relocation Benefit amounts that are required to be repaid to Company under the terms of this Agreement. Executive agrees that any Relocation Benefit amounts to be repaid to Company that are not satisfied by such deductions/withholdings shall be paid by Executive within ten (10) days following termination of employment. Executive further agrees that if Executive voluntarily fails to commence employment with Company as defined below)contemplated by this Agreement for any reason, Executive must repay a portion will reimburse Company in full within ten (10) days of the amount of the Relocation Reimbursement anticipated, contractual Commencement Date for any relocation expenses paid to Executive to the Company, on or within thirty (30) days after the employment termination date, prorated based on Executive's length of continued employment with the Company (e.g., if Executive is employed for one year at the time of termination and the Relocation Reimbursement was $10,000, Executive shall repay one-half of the Relocation Reimbursement to the Company—i.e., $5,000). Executive hereby agrees that, pursuant to applicable law, any such repayment obligation will be recovered from Executive's final paycheck and any other amounts owed to Executive by the Company from and after Executive's termination date’s behalf.