Relocation Package Sample Clauses
A Relocation Package clause outlines the benefits and support an employer will provide to an employee who is required to move for work purposes. Typically, this clause details the types of expenses covered, such as moving costs, temporary housing, travel allowances, and sometimes assistance with selling a current home or finding new accommodation. Its core function is to reduce the financial and logistical burden on employees relocating for their job, thereby facilitating a smoother transition and making the job offer more attractive.
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Relocation Package. Employee agrees to relocate to San Antonio within three (3) months following the Effective Date of this Agreement (the “Relocation Date.). To assist with that relocation, Employee is eligible to receive a relocation package, the details of which arc outlined in the attached Exhibit A. The relocation benefits will be administered by Company’s approved vendor, currently Relocation Synergy. In the event employment ends for any reason other than termination by the Company without Cause or by Employee for Good Reason within one year following the relocation to San Antonio, Employee agrees to reimburse the relocation expenses and relocation lump sum payment to Company. Employee agrees that the reimbursement amount owed to the Company shall be made immediately by a cash payment on or before Employee’s last date of employment. If Employee has not submitted the reimbursement amount to the Company as agreed to herein, Employee authorizes Company to deduct the reimbursement amount from any amount due to Employee, including any compensation or any pending expense reimbursements otherwise owed by Company to Employee. In the event Employee does not relocate to San Antonio on or before the Relocation Date, Employee agrees that Employee can be terminated for Cause under Section 8(d) and, in addition to any other available remedies, Employee will be required to reimburse the Company for any previously advanced relocation related payments made to Employee.
Relocation Package. In connection with the performance of your services as contemplated in this Agreement, you agree that your office shall be located at the Company’s principal offices which will be relocated to ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇; the purpose of such relocation being to place the Company’s headquarters in greater proximity to the Company’s vineyards. In connection therewith, you intend to relocate and purchase a new principal residence near such offices and in connection with your relocation, the Company shall provide you the following (the “Relocation Package”):
(a) the compensation and benefits described in that certain document attached hereto as Exhibit “B” (the “Relocation Package”);
(b) a “Settling-In Allowance,” in the sum of (i) Thirty Thousand Dollars ($30,000)(the “Affected Payment”) payable in a lump sum to you upon your physically relocating your principal place of residence to Monterey County, CA or a neighboring county (the “Relocation”), plus (ii) the “Additional Payments” which shall be equal to the sum of any federal, state and local income taxes and penalties and interest thereon attributable to both the Affected Payment and the Additional Payments. You shall receive the Additional Payments concurrently with Affected Payments.
(c) The Company agrees to make available to you an interest free relocation bridge loan (the “Loan”), secured by a Second Deed of Trust on your current principal residence which shall be funded prior to the closing of your purchase of your new residence, in the principal amount of Two Hundred Thousand Dollars ($200,000). The Loan shall mature and be payable upon the first to occur of either: (i) the sale of your current residence or (ii) one (1) year from the date of funding.
Relocation Package. The Company shall offer to the Executive a comprehensive relocation package designed to cover or reimburse the Executive for all reasonable expenses associated with the Executive's move from Paris, France to the Dallas/Fort Worth, Texas area.
Relocation Package. Executive shall be entitled to the following relocation benefits: • Full cost of moving your household goods from Massachusetts to Atlanta, GA by Manhattan Associates’ corporate relocation company, to include insurance protection, up to 60 days temporary storage and up to 3 months temporary housing, if required. • Shipping of two autos from Massachusetts to Atlanta. One auto will be shipped to arrive with household goods and the other will arrive approximately two weeks thereafter. • Reimbursement of standard closing costs and real estate commissions of up to 6% associated with the sale of your home in Massachusetts. Home sale will occur through Manhattan Associates’ Buyer Value Option (BVO) program to alleviate the need for gross ups. • Home finding services to include community and school research provided by Manhattan Associates’ corporate relocation company • Reimbursement for standard closing costs and up to one discount point, inclusive of the loan origination fee, for a competitive loan by a large lending institution associated with the purchase of a home in Atlanta for a mortgage value of up to $1,000,000.00. These reimbursements will be grossed up for tax purposes. • All house hunting will be done in conjunction with prearranged business trips to Atlanta. Airfare will be covered by Company for spouse to accompany for three trips and airfare will be covered by Company for children for two trip. Executive will repay these amounts to Company if Executive voluntarily terminates his employment or is terminated for cause within one year of the Effective Date of this Agreement.
Relocation Package. Employer shall pay Employee's temporary living expenses, moving expenses, relocation expenses, family visitation expenses and other incidental expenses related to Employee relocating himself and his family to Employer's place of business in San Antonio, Bexar County, Texas. In satisfaction of the provisions of the preceding sentence, Employer shall pay Employee $4,000 per month during the Term pursuant to the provisions of this SECTION 4(E) as well as advances for major expenses. If Employee relocates himself and his family to San Antonio, Bexar County, Texas, within 12 months of the date hereof, Employer shall pay to Employee $35,000, and upon such payment, no further payments described in the preceding sentence shall be made to Employee. Employee shall promptly notify Employer upon Employee's family relocating to San Antonio, Bexar County, Texas.
Relocation Package. In the event of relocation, during the Term, of Executive’s principal office location more than 25 miles from its location as of the Effective Date (but not closer to the executives principal residence), and, as a result thereof, Executive relocates his principal residence, the Company shall offer Executive a reasonable relocation package.
Relocation Package. Upon Employee’s decision to relocate his primary residence, pursuant to paragraph 1.2, the Company will provide to Employee a relocation package in accordance with the then-current SXC Relocation Policy & Procedures. At minimum, the relocation package shall include shipment of household goods and closing costs related to the purchase of a new home and the sale of an existing home.
Relocation Package. The Employer agrees to provide the Employee with a customary relocation package to relocate the Employee and his family to the Company's proposed new headquarters.
(a) 1-month salary at time of actual move for all incidental expenses.
(b) Reimbursement to pick-up and deliver possessions to new residence. Temporary storage up to 90 days if necessary. (c) Interim living expenses. (d) Realty fees on home sale up to a maximum of 4%.
(e) Closing costs on purchase of new home and up to 2 points.
(f) Up to two family trips to search for new housing.
(g) Total expense reimbursement to be capped at $75,000. If Employee leaves within the first year of employment as calculated based on the date of the agreement, Employee agrees to reimburse Company for ALL relocation expenses.
Relocation Package. In the event that (i) the Compensation Committee and Employee agree that Employee should relocate from Employer's global marketing offices at 225 West 34th Street, Suite 800, New York, New York 10122, to ▇▇▇▇▇▇▇▇'▇ ▇▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇▇ ▇▇ ▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇▇, Texas, or (ii) in the event that Employer relocates its global marketing offices more than fifty (50) miles from its current location at 225 West 34th Street, Suite 800, New York, New York 10122, Emp▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇ ▇▇▇ ▇▇ ▇▇▇▇▇▇▇▇'▇ ▇▇▇▇onable out-of-pocket expenses incurred in connection with such relocation, including, without limitation, reasonable expenses incurred in connection with (w) the sale of Employee's current residence, including without limitation, brokers' fees and other closing costs, (x) Employee's relocation, (y) Employee's purchase of a new residence at the new location, including without limitation, brokers' fees and other closing costs, and (z) an amount equal to the tax liability of Employee in connection with the amounts paid to Employee pursuant to this SECTION 4(E).
Relocation Package. The Company shall provide Executive with its relocation package for senior executives in connection with the relocation of his family to the area in proximity of Wayne, New Jersey (the “New Jersey Area”).