Common use of Relocation Expense Reimbursement Clause in Contracts

Relocation Expense Reimbursement. You will be entitled to reimbursement of your relocation expenses per the Company’s Global Relocation Policy and as approved by the Board or authorized committee thereof. Provided remain eligible for continuation coverage pursuant to Part 6 of Title I of ERISA (“COBRA”), the Company shall pay or reimburse you an amount equal to the full monthly premium for COBRA continuation coverage under the Company’s medical plan as in effect as of the Effective Date with respect to the level of coverage in effect for your eligible dependents as of such date, on a monthly basis on the first business day of the calendar month next following the calendar month in which the applicable COBRA premiums were paid (the “COBRA Benefit”), with respect to the period from the Effective Date through June 30, 2025, grossed up for any income taxes payable thereon.

Relocation Expense Reimbursement. You will be entitled to reimbursement of your relocation expenses per the Company’s Global Relocation Policy and as approved by the Board or authorized committee thereof. Provided you remain eligible for continuation coverage pursuant to Part 6 of Title I of ERISA (“COBRA”), the Company shall pay or reimburse you an amount equal to the full monthly premium for COBRA continuation coverage under the Company’s medical plan as in effect as of the Effective Date with respect to the level of coverage in effect for you and your eligible dependents as of such date, on a monthly basis on the first business day of the calendar month next following the calendar month in which the applicable COBRA premiums were paid (the “COBRA Benefit”), with respect to the period from the Effective Date through June 30, 2025for six (6) months thereafter, grossed up for any income taxes payable thereon.