Common use of Relocation Incentive Clause in Contracts

Relocation Incentive. Upon the satisfaction of the conditions set forth below, Employee will receive a lump-sum cash payment in the amount of Two Hundred Fifty Thousand Dollars and No Cents ($250,000.00), less all applicable taxes and withholdings required under local, state, and federal law (“Relocation Incentive”). The Relocation Incentive will be paid to Employee by direct deposit in the bank account designated by Employee, as soon as administratively possible after each of the following conditions has been met: a. Employee has indicated in writing his acceptance of Charter’s offer to relocate to its New York metropolitan office. b. Employee has signed this Agreement and has not revoked it during the seven (7) day revocation period described in Section 9 of this Agreement. c. Employee has closed on the purchase of his primary residence in the New York metropolitan area or Employee has closed on the sale of his current primary residence, whichever occurs earlier. d. Employee remains employed by Charter in good standing, which means that Employee must (i) perform his job duties at a level and in a manner that meets Charter’s legitimate expectations and (ii) comply with Charter’s policies and Code of Conduct.

Relocation Incentive. Upon the satisfaction of the conditions set forth below, Employee will receive a lump-sum cash payment in the amount of Two Hundred Fifty Thousand Dollars and No Cents ($250,000.00), less all applicable taxes and withholdings required under local, state, and federal law (“Relocation Incentive”). The Relocation Incentive will be paid to Employee by direct deposit in the bank account designated by Employee, as soon as administratively possible after each of the following conditions has been met: a. Employee has indicated in writing his acceptance of Charter’s 's offer to relocate to its New York metropolitan office. b. Employee has signed this Agreement and has not revoked it during the seven (7) day revocation period described in Section 9 of this Agreement. c. Employee has closed on the purchase of his primary residence in the New York metropolitan area or Employee has closed on the sale of his current primary residence, whichever occurs earlier. d. Employee remains employed by Charter in good standing, which means that Employee must (i) perform his job duties at a level and in a manner that meets Charter’s 's legitimate expectations and (ii) comply with Charter’s 's policies and Code of Conduct.