RELOCATION; TEMPORARY HOUSING Clause Samples
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RELOCATION; TEMPORARY HOUSING. In addition to any benefits that may be provided under any Corporation executive relocation policy (subject to such extended time periods and dollar limit adjustments as may be agreed reasonably and in good faith by the Board (or its designee) and Executive), the Corporation shall provide Executive with the following: (i) temporary housing at such previously identified property (or such other property as may be identified by Executive of similar size, status and location) for a period of twelve months following August 15, 2011, and (ii) payment or reimbursement for the reasonable moving and relocation expenses and costs, including transaction costs (i.e., broker’s commissions, legal fees and other reasonable expenses) involved with (A) the sale of (and up to $100,000 in loss protection (relative to Executive’s original purchase price and material capital improvements of)) Executive’s current family residence in New Jersey, (B) the purchase of Executive’s new family residence in the San Francisco Bay Area, and (C) reasonable moving (including interim storage of furniture and possessions) and relocation expenses from Executive’s current family residence in New Jersey and current residence in Pennsylvania, in each case to Executive’s temporary housing in the San Francisco Bay Area (or storage) and from Executive’s temporary housing (and storage) to Executive’s new family residence in the San Francisco Bay Area. The Corporation shall also provide such other reimbursements or benefits as may be reasonably and in good faith requested by Executive and reasonably and in good faith agreed to by the Board (or its designee). The Corporation shall gross up for tax purposes any income arising from such reimbursement or benefits that is treated as nondeductible taxable income to Executive so that the economic benefit is the same to Executive as if such payment or benefits were provided on a non-taxable basis to Executive.
RELOCATION; TEMPORARY HOUSING. The Company shall, upon submission of proper vouchers in respect thereof, pay or reimburse the Executive for (i) the cost of relocating himself and his spouse from their personal residence in California to a location in proximity to the Company's corporate offices, including reasonable travel expenses incurred in connection therewith, and (ii) the cost of obtaining temporary housing for himself and his spouse during the Employment Period of a nature that is commensurate with the Executive's position with the Company. In addition, the Company shall make to the Executive additional payments to cover applicable federal, state and local income and excise taxes, when and to the extent, if any, that such taxes are payable by the Executive with respect to benefits provided under clauses (i) and (ii) of this Section 5(f).
RELOCATION; TEMPORARY HOUSING. The Executive shall be reimbursed (upon presentation of appropriate documentation) for reasonable commuting, moving and other cost-of-relocation expenses incurred by the Executive in relocating to Executive’s principal employment location. The Executive will be reimbursed for reasonable costs incurred in traveling between his principal employment location and other employment locations in accordance with the Company’s existing reimbursement policies (including amounts expended for meals and lodging at other employment locations). It is understood that on or before September 30, 2007 (the “Relocation Date”), the Executive’s principal employment location shall be ▇▇▇▇▇▇▇▇, Oregon. After the Relocation Date, the Executive’s principal employment location shall be that Company office as to which agreement is reached by the Company and the Executive by September 30, 2007 (the “Post-September 30, 2007 Principal Employment Location”) and, as soon as is reasonably practicable after the Relocation Date or such other date, not later than the first anniversary of the Executive’s commencement of employment with the Company, as may be agreed upon by the Board, the Executive shall change his principal place of residence to the metropolitan area encompassing the Post-September 30, 2007 Principal Employment Location. The above-described reimbursement shall also include any incremental tax liability incurred by the Executive with respect to the reimbursements for relocation costs and traveling costs, so that the Executive is in the same tax position he would have been in if such reimbursement were not subject to income tax, provided, however, that, after the Relocation Date, the Executive shall not be reimbursed for incremental tax liability attributable to reimbursement for amounts expended for meals and lodging. Upon termination other than a Termination for Cause or by the Executive without Good Reason , the Executive will be reimbursed for the reasonable cost-of-relocation expenses by the Executive in relocating back to ▇▇▇▇▇▇▇▇, Oregon.
RELOCATION; TEMPORARY HOUSING. (a) Relocation Expense: Employee will be reimbursed for reasonable moving expenses incurred upon Employee’s relocation to Colorado, including the cost of transportation of all household goods, automobiles and members of Employee’s family. Moving services are to include packing and un-packing services. Reimbursement is subject to the presentation of receipts and other supporting documentation to assure the deductibility of the expenses by the Company for federal, state and local income tax purposes. Should any expense related to the relocation of Employee not be deductible by the Company, the Company will “gross-up” said expense to the employee upon reimbursement to ensure Employee recovers “net” expenses. Employee will be reimbursed for all expenses related to the sale and closing of the property in Florida including a commission of up to 5% of the sale of Employee’s home. The company will also cover the closing costs due upon Employee’s purchase of a home in Colorado. In addition, the Company will provide Employee 5% of Employee’s base salary to cover miscellaneous moving expenses.