Common use of Moving and Relocation Expenses Clause in Contracts

Moving and Relocation Expenses. In addition to the salary and benefits set forth in this Section 4, the Company and Tango shall provide to Employee the following benefits in connection with his moving and relocating to Wisconsin: (i) Employee agrees to use reasonable efforts to sell his residence located at 1345 Xx. Xxxxxxx, Xxxxxxx, Kansas (the "Residence") prior to the date he relocates to Wisconsin, which relocation shall occur no later than the first anniversary of the date hereof. The Company and Tango agree to reimburse Employee for his reasonable out-of-pocket expenses incurred in connection with his efforts to sell the Residence, including, but not limited to, real estate broker's commissions. If Employee is unable to sell the Residence prior to the date he relocates to Wisconsin then the Company or Tango shall purchase the Residence for a purchase price determined as follows: each of Employee and the Company or Tango shall obtain an appraisal of the value of the Residence from licensed real estate appraisers selected by each of them; if such appraisals do not vary by more than $10,000, the purchase price to be paid shall be the average of the two appraisals; if such appraisals vary by more than $10,000, then the two appraisers shall jointly appoint a third appraiser, whose appraisal shall be final and binding on the Company, Tango and Employee. The Company and Tango shall bear the cost of the appraisals and all other costs and expenses related to such purchase and sale of the Residence from Employee. (ii) until such time as Employee shall have completely relocated to Wisconsin, the Company and Tango shall (A) provide Employee a two (2) bedroom furnished apartment (at a monthly rental rate not to exceed $1,500), and (B) reimburse Employee for all reasonable costs and expenses in commuting from Wichita, Kansas to Brookfield, Wisconsin. (iii) the Company and Tango shall pay on behalf of Employee or reimburse Employee, at Employee's option, for the actual costs paid to third parties relating to Employee's relocation from Kansas to Wisconsin, including, but not limited to, (a) reasonable moving company expenses and insurance, and (b) reasonable travel expenses for Employee and his spouse from Kansas to Wisconsin in order to enable Employee and his spouse to locate a suitable residence in Wisconsin.

Moving and Relocation Expenses. In addition to the salary and benefits set forth in this Section 4, the Company and Tango shall provide to Employee the following benefits in connection with his moving and relocating to Wisconsin: (i) Employee agrees to use reasonable efforts to sell his residence located at 1345 Xx. Xxxxxxx816 Terradyne, XxxxxxxAndover, Kansas (the "Residence") prior to the date he relocates to Wisconsin, which relocation shall occur no later than the first anniversary of the date hereof. The Company and Tango agree agrees to reimburse Employee for his reasonable out-of-pocket expenses incurred in connection with his efforts to sell the Residence, including, but not limited to, real estate broker's commissions. If Employee is unable to sell the Residence prior to the date he relocates to Wisconsin Wisconsin, then the Company or Tango shall purchase the Residence for a purchase price determined as follows: each of Employee and the Company or Tango shall obtain an appraisal of the value of the Residence from licensed real estate appraisers selected by each of them; if such appraisals do not vary by more than $10,000, the purchase price to be paid shall be the average of the two appraisals; if such appraisals vary by more than $10,000, then the two appraisers shall jointly appoint a third appraiser, whose appraisal shall be final and binding on the Company, Tango Company and Employee. The Company and Tango shall bear the cost of the appraisals and all other costs and expenses related to such purchase and sale of the Residence from Employee.; (ii) until such time as Employee shall have completely relocated to Wisconsin, the Company and Tango shall (A) provide Employee a two (2) bedroom furnished apartment (at a monthly rental rate not to exceed $1,500), and (B) reimburse Employee for all reasonable costs and expenses in commuting from Wichita, Kansas to Brookfield, Wisconsin. (iii) the Company and Tango shall pay on behalf of Employee or reimburse Employee, at Employee's option, for the actual costs paid to third parties relating to Employee's relocation from Kansas to Wisconsin, including, but not limited to, (a) reasonable moving company expenses and insurance, and (b) reasonable travel expenses for Employee and his spouse from Kansas to Wisconsin in order to enable Employee and his spouse to locate a suitable residence in Wisconsin.