Commuting Assistance. The Company agrees to pay the Executive $20,000 each year in which he commutes between Pennsylvania and Connecticut (the “Commuting Compensation”). The Commuting Compensation shall be paid in two equal installments (one in January and one in July), for the purpose of covering expenses incurred by the Executive in commuting between Pennsylvania and Connecticut, including travel expenses, temporary housing expenses near the Company’s Connecticut office, and meal expenses. The Company also will pay to the Executive an additional amount, determined by the Company in its sole discretion, as an approximate gross-up of the Commuting Compensation; provided, however, that any such gross-up payment shall be made by no later than the end of the calendar year next following the calendar year in which the Executive remits such taxes.
Commuting Assistance. The Company agrees to pay the Executive $20,000 each year in which she commutes between Pennsylvania and Connecticut (the “Commuting Compensation”). The Commuting Compensation shall be paid in two equal installments (one in January and one in July), for the purpose of covering expenses incurred by the Executive in commuting between Pennsylvania and Connecticut, including travel expenses, temporary housing expenses near the Company’s Connecticut office, and meal expenses. The Company also will pay to the Executive an additional amount, determined by the Company in its sole discretion, as an approximate gross-up of the Commuting Compensation; provided, however, that any such gross-up payment shall be made by no later than the end of the calendar year next following the calendar year in which the Executive remits such taxes. If, prior to the one-year anniversary of the Effective Date, the Executive’s employment is terminated by the Company for Cause (as defined below) or the Executive resigns without Good Reason (as defined below), the Executive shall be required to repay a pro-rated amount of the Commuting Compensation plus any gross-up she received prior to her separation.
Commuting Assistance. The Company agrees to pay the Executive $17,400 each year in which he commutes between New Jersey and Connecticut (the “Commuting Compensation”). The Commuting Compensation shall be paid in two equal installments (one in January and one in July) (each, a “Commuting Compensation Installment”), for the purpose of covering expenses incurred by the Executive in commuting between New Jersey and Connecticut, including travel expenses, temporary housing expenses near the Company’s Connecticut office, and meal expenses. At the time each Commuting Compensation Installment is paid to the Executive, the Company shall also pay to the Executive an amount such that the after-tax amount actually received by the Executive is equal to the gross amount of the Commuting Compensation Installment paid on such date.
Commuting Assistance. The Company agrees to pay the Executive $20,000 each year in which she commutes between Pennsylvania and Connecticut (the “Commuting Compensation”). The Commuting Compensation shall be paid in two equal installments (one in January and one in July) (each, a “Commuting Compensation Installment”), for the purpose of covering expenses incurred by the Executive in commuting between Pennsylvania and Connecticut, including travel expenses, temporary housing expenses near the Company’s Connecticut office, and meal expenses. At the time each Commuting Compensation Installment is paid to the Executive, the Company shall also pay to the Executive an amount such that the after-tax amount actually received by the Executive is equal to the gross amount of the Commuting Compensation Installment paid on such date.
