Relocation of Executive Clause Samples

The 'Relocation of Executive' clause defines the circumstances under which an employer may require an executive to move to a different geographic location as part of their employment. Typically, this clause outlines the process for notifying the executive, any assistance or reimbursement for moving expenses, and the conditions that must be met for a relocation to occur, such as business necessity or mutual agreement. Its core function is to provide clarity and set expectations for both parties regarding potential changes in the executive's work location, thereby reducing disputes and ensuring operational flexibility for the employer.
POPULAR SAMPLE Copied 1 times
Relocation of Executive. Executive shall be paid Fifty Thousand Dollars ($50,000) for relocation expenses and temporary lodging while relocating to Fort P▇▇▇▇▇, Florida. Such amounts will be paid to Executive in the Company’s first regularly scheduled pay period following the Effective Date. Notwithstanding the foregoing, Employee shall return the Fifty Thousand Dollars ($50,000) to the Company if Employee resigns or is terminated For Cause (as defined below) prior to the three-month anniversary of the Effective Date. Company reserves the right subject to applicable law, to deduct this amount or any part of it from Executive’s wages and Executive hereby consents to such deduction.
View Source
Relocation of Executive. In the event that the Corporation requests the Executive to relocate to an office outside of the Tampa/St. Petersburg area, the Executive may object to such request in writing within thirty (30) days of receiving such request. If the Corporation insists on the Executive relocating outside of the Tampa/St. Petersburg area after receiving the Executive's written objection to such relocation request, the Executive may resign for "Good Cause."
View SourceView Similar (7)
Relocation of Executive. Requiring Executive to change his principal work location, to any location that is more than 15 miles from the location of PremierWest Bancorp’s principal executive offices on the date of this Agreement.
View SourceView Similar (14)
Relocation of Executive. Executive shall be paid Twenty-Five Thousand Dollars ($25,000) for relocation expenses and temporary lodging while relocating from Pennsylvania to Fort P▇▇▇▇▇, Florida.
View Source
Relocation of Executive. The Executive acknowledges and agrees that a material condition for the Company entering into this Agreement with the Executive was the Agreement of the Executive to move his personal residence, in a timely manner and consistent with the provisions of Section 4.05, from West Bloomfield, Michigan to the greater Cleveland, Ohio area. Table of Contents
View Source
Relocation of Executive. Executive shall be relocated in accordance with the terms of the Prescolite Relocation Policy.
View Source
Relocation of Executive. If the Company or any of its subsidiaries elects to relocate Executive’s principal place of employment more than 50 miles from his current place of employment in Portland, Oregon, Executive shall elect either of the following two (2) options within thirty (30) days of his being notified of such relocation: (i) Executive agrees to the relocation to a new place of employment as designated by the Company in which event the Company or its subsidiaries shall reimburse the Executive upon his submission of documented expenses consisting of: ● Moving and relocation expenses; ● Temporary housing expenses for up to 180 days at the new place of employment not to exceed $4,000 per month; and ● Closing costs associated with selling his current residence to a bona fide third party and the closing costs associated with the purchase of a new residence. (ii) The Executive may elect not to be relocated, in which event the Executive may terminate this Agreement for “Good Reason” and shall be entitled to the severance payments set forth in Section 3(a) of this Agreement.
View Source
Relocation of Executive. Requiring EXECUTIVE to change his principal work location, to any location that is more than 35 miles from the location of EXECUTIVE'S office.
View Source
Relocation of Executive. If BCI moves its headquarters from the Washington,
View Source

Related to Relocation of Executive

  • Compensation of Executive (a) The Corporation shall pay the Executive as compensation for his services hereunder, in equal semi-monthly or bi-weekly installments during the Term, the sum of $350,000 per annum (as in effect from time to time, the “Base Salary”), less such deductions as shall be required to be withheld by applicable law and regulations. The Corporation shall review the Base Salary on an annual basis and has the right but not the obligation to increase it, but has no right to decrease the Base Salary. (b) In addition to the Base Salary set forth in Section 4(a) above, the Executive shall be entitled to receive an annual cash bonus (“Annual Bonus”) in an amount up to $100,000 if the Corporation meets or exceeds criteria adopted by the Compensation Committee of the Board (the “Compensation Committee”) for earning Bonuses, which criteria shall be adopted by the Compensation Committee annually after consultation with the Executive and which criteria must be reasonably likely to be attainable. Annual Bonuses shall be paid by the Corporation to the Executive promptly after the year end, it being understood that the Compensation Committee’s determinations concerning attainment of any financial targets associated with any bonus determination shall not be determined until following the completion of the Corporation’s annual audit, if any, but in no event later than April 15th of the year following the year for which it is being paid (and if the Executive was employed as of last day of the calendar year to which such Annual Bonus relates, then the Executive shall be entitled to the Annual Bonus for such year, even if he is not employed by the Corporation on the date the Annual Bonus is paid for such last year). The Compensation Committee may provide for lesser or greater percentage Annual Bonus payments for Executive upon achievement of partial or additional criteria established or determined by the Compensation Committee from time to time. For the avoidance of doubt, if Executive is employed upon expiration of the term of this Agreement, he shall be entitled to the Annual Bonus for such last year on a pro-rata basis through the last date of employment, even if he is not employed by the Corporation on the date the Annual Bonus is paid for such last year. In his sole discretion, the Executive may elect to receive such annual bonus in common stock of the Corporation at the basis determined by the Compensation Committee in good faith. (c) The Corporation shall pay or reimburse the Executive for all reasonable out-of-pocket expenses actually incurred or paid by the Executive in the course of his employment, consistent with the Corporation’s policy for reimbursement of expenses from time to time. (d) The Executive shall be entitled to participate in such pension, profit sharing, group insurance, hospitalization, and group health and benefit plans and all other benefits and plans, including perquisites, if any, as the Corporation provides to its senior executives, including group family health insurance coverage, which shall be paid by the Corporation (the “Benefit Plans”). If at any time during the Term, the Corporation does not provide its senior executives with health insurance (including hospitalization) under a Benefit Plan, Executive shall be entitled to secure such health insurance for himself and his immediate family (i.e., spouse and natural born children) and the Corporation shall reimburse Executive for the cost of such insurance promptly after payment by the Executive for such insurance. For the avoidance of doubt, Executive shall be entitled to secure health insurance from high quality companies such as Blue Cross/Blue Shield, United, or Emblem, and the ability to select a no or low deductible plan. If Executive secures such health insurance, such health insurance shall be deemed to be a Benefit Plan hereunder. (e) The Corporation shall execute and deliver in favor of the Executive an indemnification agreement on the same terms and conditions entered into with the other officers and directors of the Corporation. Such agreement shall provide for the indemnification of the Executive for the term of his employment and for a period of at least six (6) years thereafter. The Corporation shall maintain directors’ and officers’ insurance during the Term and for a period of at least six (6) years thereafter. (f) The Corporation shall also maintain (or hire, if applicable) a New York City based executive assistant to assist the Executive with his duties.

  • Employment of Executive Employer hereby agrees to employ Executive, and Executive hereby agrees to be and remain in the employ of Employer, upon the terms and conditions hereinafter set forth.

  • Termination of Executives Employment Termination of Executive's Employment means that (i) the Company has terminated Executive's employment with the Company (including any subsidiary of the Company) other than for Cause (as defined in Section 5.2), death or Disability (as defined in Section 5.3), or (ii) Executive, by written notice to the Company, has terminated his employment with the Company (including any subsidiary of the Company) for Good Reason (as defined below). For purposes of this Agreement, "Good Reason" means:

  • Death or Disability of Executive Executive's employment -------------------------------- hereunder shall terminate immediately upon the death or Disability of Executive.

  • Disability of Executive The Company may terminate this Agreement without liability if Executive shall be permanently prevented from properly performing his essential duties hereunder with reasonable accommodation by reason of illness or other physical or mental incapacity for a period of more than one hundred twenty 120 consecutive days. Upon such termination, Executive shall be entitled to all accrued but unpaid Base Salary and vacation.