Commuting Expense definition
Examples of Commuting Expense in a sentence
Thereafter, any budget remaining ($150,000 less any amounts used for Relocation or Commuting Expenses), shall be available to Employee for Commuting Expenses, as defined above, until such time as Employee (i) exhausts the $100,000 Commuting Expense budget, (ii) relocates his principal place of residence to the San Diego, CA area or (iii) ceases employment with the Company for any reason.
The Company is prepared to assist you with the expenses relating to commuting from your principal place of residence in Northern California to the San Diego, California area up to a maximum of $5,000 per month and in accordance with the terms and conditions as detailed in the Commuting Agreement and Commuting Expense Guidelines attached as EXHIBIT A.
The amounts paid to reimburse your Commuting Expenses will be taxable income, subject to withholding, and the Company will provide you an additional tax gross up payments in connection with such Commuting Expense reimbursement payments so that you retain a net after tax withholding amount equal to the applicable amount of Commuting Expenses.
For instance, an employee may choose to forfeit Daily Commuting Expense reimbursement in favour of additional monies for Board & Lodging/Living Expenses.