Common use of Cost of Transfers Clause in Contracts

Cost of Transfers. Employees transferred from one (1) permanent location to another permanent location, shall suffer no loss in regular pay (basic hourly rate for hours normally worked - no overtime) for necessary and reasonable time off to arrange for moving his household furnishings. Such employees shall also upon presentation of receipted bills, or other evidence of payment, be reimbursed for necessary moving expenses (subject to a maximum of $10,000 for homeowners and $5,000 for renters at the time of transfer) consisting of reasonable costs of transportation, meals and lodging for himself and members of his immediate family who regularly reside with him, including drayage cost of moving the employee's furnishings for his household; Provided that the employee secures Company approval in advance of taking any time off for these purposes, or contracting any such expense.