Housing Reimbursement. The Executive owns a single family residence located at 000 Xxxxxxxx Xxxxx, Copper Canyon, Texas, 75077 (the “Residence”). If the Residence is sold within 180 days after receipt by the Executive of notice of the Board’s election to relocate the Executive, the Company agrees to reimburse the Executive for an amount (if positive) equal to (1) the aggregate sum of (X) the Executive’s purchase price for the Residence and all land and mineral rights owned by the Executive adjacent to the Residence and (Y) the cost of all capital improvements to the Residence and the adjacent land, less (2) the sales price of the Residence net of commissions, closing costs and required repairs. If the Executive is unable to secure a buyer during the 180 day period, the Company will purchase Residence on the 181st day at a purchase price equal to 100% of the average of two appraised values obtained from two independent appraisers selected by the Executive subject to approval of the Company, which approval shall not be unreasonably withheld.
Housing Reimbursement. District shall reimburse Employee for local housing costs at a rate of Three Thousand Dollars and 00/100 ($3,000.00) per month during the Term of this Agreement.
Housing Reimbursement. The Company will pay Executive the --------------------- reasonable closing costs incurred by Executive as a result of the sale of his primary residence located in Chaska, Minnesota, which amount shall be "grossed up" for tax purposes at an assumed tax rate of thirty-six percent (36%). Company shall also pay Executive the reasonable closing costs incurred by Executive as a result of the purchase of his primary residence located in Orange County, California, which amount shall be "grossed up" for tax purposes at an assumed tax rate of thirty-six percent (36%).
Housing Reimbursement. During the Term, for the period from the fourth (4) month following the Effective Date through the twenty fourth (24) month following the Effective Date, to the extent the Executive procures housing in Costa Mesa, California, the Manager shall reimburse the Executive for the monthly rent associated with such housing in an amount up to Three Thousand Dollars ($3,000) per month, subject to appropriate documentation and the terms and conditions of the then-current business expense reimbursement policy of the Manager.
Housing Reimbursement. The Executive owns a single family residence located at 0000 Xxxxxxxxxx Xxxxx, Xxxxxxx, Xxxxx, 00000 (the ‘Residence’). If the Residence is sold prior to December 31, 2011, the Company agrees to reimburse the Executive for an amount (if positive) equal to (1) the sum of the Executive’s purchase price for the Residence and capital improvements, less (2) the sales price of the Residence net of commissions, closing costs and required repairs; provided, that in no event shall such reimbursement exceed $200,000. Notwithstanding the foregoing, if the Executive is terminated by the Company for Cause or if the Executive voluntarily resigns without Good Reason, either of which events occur within the one-year period after the date of the closing of the sale of the Residence, then, as applicable, (1) the Executive agrees to repay to the Company, within 30 days of the Date of Termination, any reimbursement made by the Company under this Paragraph 3(b)(xii) (including any payment made pursuant to Paragraph 3(b)(xiii) relating to such reimbursement) or (2) the Company shall not be obligated to make any reimbursement payment as otherwise provided in this Paragraph 3(b)(xii).”
3. A new Paragraph 3(b)(xiii) is hereby added to the Employment Agreement to read as follows:
Housing Reimbursement. The Executive shall be eligible to receive a one-time UHC housing reimbursement payment of $25,180; provided, however, if the Executive’s employment with the Company terminates by reason of election by the Executive for other than for Good Reason or termination for Cause by the Company before the second anniversary of her Start Date, the Company will be entitled to recover from the Executive, and Executive agrees to pay back to the Company, the prorated portion of the UHC housing reimbursement representing the number of days that the Executive was short of being employed for 730 days.
Housing Reimbursement. The Company will pay Executive the --------------------- reasonable closing costs incurred by Executive as a result of the sale of his primary residence located in The Woodlands, Texas, which amount shall be "grossed up" for tax purposes at an assumed tax rate of thirty-six percent (36%). Company shall also pay Executive the reasonable closing costs incurred by Executive as a result of the purchase of his primary residence located in Orange County, California, which amount shall be "grossed up" for tax purposes at an assumed tax rate of thirty-six percent (36%).
Housing Reimbursement. Upon presentation of reasonable substantiation and documentation as the Company may specify from time to time, the Company shall reimburse the Executive during the Employment Term on a monthly basis for the reasonable costs incurred by the Executive in obtaining temporary housing in the vicinity of the Company’s headquarters (the “Housing Reimbursement”); provided that each monthly Housing Reimbursement under this Section 6(e) shall not exceed $6,250 and the aggregate Housing Reimbursement under this Section 6(e) shall not exceed $75,000; provided, further, that the Housing Reimbursement shall only be provided until the earlier of the first anniversary of the Effective Date or the Executive’s relocation of his primary residence from Minnesota to the vicinity of the Company’s headquarters. To the extent that the Housing Reimbursement constitutes taxable income to the Executive, the amount of the Housing Reimbursement shall be grossed-up so that the after-tax amount received by the Executive is equal to the amounts provided herein.
Housing Reimbursement. During the Term, the Company shall reimburse Executive for the cost of housing rental and related insurance, subject to a maximum reimbursement in an amount to be mutually agreed to be Executive and the Company.
Housing Reimbursement. The Executive owns a single family residence located at 0000 Xxxxxxxxxx Xxxxx, Xxxxxxx, Xxxxx, 00000 (the ‘Dallas Residence’). Upon the closing of the sale of the Dallas Residence pursuant to a contract negotiated at arm’s length, if such sale occurs prior to December 31, 2012, the Company agrees to reimburse the Executive for an amount (if positive) equal to (1) the sum of the Executive’s purchase price for the Dallas Residence and capital improvements but not to exceed $900,000, less (2) the sales price of the Dallas Residence reduced by the amount of commissions, closing costs and required repairs. Notwithstanding the foregoing, if the Executive is terminated by the Company for Cause or if the Executive voluntarily resigns without Good Reason, either of which events occur within the three-year period beginning on September 30, 2011, then, as applicable, (1) the Executive agrees to repay to the Company, within 30 days of the Date of Termination, the product of any reimbursement made by the Company under this Paragraph 3(b)(xii) (including any payment made pursuant to Paragraph 3(b)(xiii) relating to such reimbursement) times a fraction (A) the numerator of which is the number of full months remaining after the Date of Termination in the three-year period beginning on September 30, 2011, and (B) the denominator of which is thirty six, or (2) if no reimbursement has been made by the Company under this Paragraph 3(b)(xii) as of the Date of Termination, the Company shall not be obligated to make any reimbursement payment as otherwise provided in this Paragraph 3(b)(xii) (including any payment made pursuant to Paragraph 3(b)(xiii) relating to such reimbursement).”
3. Paragraph 3(b)(xiii) is hereby amended in its entirety to read as follows:
