Common use of Moving and Relocation Expenses Clause in Contracts

Moving and Relocation Expenses. It is expected that Executive shall reside permanently in the Denver, Colorado metropolitan area during the Employment Period. Employer will pay on Executive’s behalf relocation expenses as set forth below (“Relocation Expenses”), subject to Employer’s customary payroll practices and legal requirements regarding withholding, provided that Relocation Expenses are incurred during Executive’s employment with the Company and within one year of the Effective Date. The Company shall also provide Executive with a tax gross-up for applicable federal, state and local taxes paid by Executive in connection with the reimbursement provided under this Section 3(e)(v) and the tax gross-up payment itself (the “Relocation Gross-Up”). The Relocation Gross-Up shall be paid no later than March 15th of the year following the year in which the related Relocation Expense was incurred. The Relocation Expenses shall include (A) new loan financing fees, (B) up to one “point” on a new mortgage loan, and (C) other costs associated with buying or selling a home. In addition, Relocation Expenses shall be provided for (A) reasonable expenses actually incurred by Executive to move personal effects from Nashville, Tennessee to the Denver, Colorado metropolitan area, (B) reasonable costs incurred for round trips by Executive or Executive’s spouse or both Executive and his spouse between Denver, Colorado and Nashville, Tennessee to search for a home and effectuate the relocation and (C) reimbursement for rent, electricity, gas and water expenses actually incurred by Executive for interim housing in the Denver, Colorado metropolitan area for a period of up to six months commencing on the Effective Date (or until such earlier date as Executive is no longer incurring such interim housing expenses). Notwithstanding the foregoing, Relocation Expenses shall not include “loss on sale” protection for Executive’s current home. The Company’s total reimbursement obligation in respect of the Relocation Expenses and Relocation Gross-Up shall not exceed $175,000. Executive shall submit to the Company receipts and other applicable documentation evidencing the Relocation Expenses promptly and in all events no later than March 1st of the year following the year in which the Relocation Expenses were incurred, and the Company shall remit payment for such Relocation Expenses in accordance with its standard accounts payable practices, but in any event no later than March 15th of the calendar year following the calendar year in which the expense was incurred. Notwithstanding the foregoing, in the event that (i) Executive remains employed through the first anniversary of the Effective Date, (ii) Executive utilizes “Relocation Today” services for Executive’s relocation needs, and (iii) the total Relocation Expenses and Relocation Gross-Up are less than the $175,000, than Executive may request a “Relocation Cash-Out” payment equal to one-half of the difference between (x) $175,000 and (y) the actual amount of Relocation Expenses incurred and Relocation Gross-Up. The Relocation Cash-Out shall be paid as soon as reasonably practicable, but in all events prior to March 15, 2017. Executive shall not be entitled to any Relocation Gross-Up on the Relocation Cash Out.

Moving and Relocation Expenses. It is expected that Executive shall reside permanently in the Denver, Colorado metropolitan area during the Employment Period. Employer will pay on Executive’s behalf relocation expenses as set forth below (inclusive of the Relocation Gross-Up (as defined below)) (“Relocation Expenses”), subject to Employer’s customary payroll practices and legal requirements regarding withholding, provided that Relocation Expenses are incurred during Executive’s employment with the Company and within one year of the Effective Date. The Company shall also provide Executive with a tax gross-up for applicable federal, state and local taxes paid by Executive in connection with the reimbursement provided under this Section 3(e)(v3(d)(v) and the tax gross-up payment itself (the “Relocation Gross-Up”). The Relocation Gross-Up shall be paid no later than March April 15th of the year following the year in to which the related Relocation Expense was incurredsuch taxable income relates. The Relocation Expenses shall include (A) any brokerage commissions incurred in the sale of Executive’s current home (up to 6% of the sales price of Executive’s current home), (B) new loan financing fees, (BC) up to one “point” on a new mortgage loan, and (CD) other costs associated with buying or selling a homehome in an amount not to exceed $30,000. In addition, Relocation Expenses shall be provided for (A) reasonable expenses actually incurred by Executive to move personal effects from NashvilleScottsdale, Tennessee Arizona to the Denver, Colorado metropolitan area, (B) reasonable costs incurred for round trips by Executive or Executive’s spouse or both Executive and his spouse between Denver, Colorado and NashvilleScottsdale, Tennessee Arizona to search for a home and effectuate the relocation and (C) reimbursement for rent, electricity, gas and water expenses actually incurred by Executive for interim housing in the Denver, Colorado metropolitan area for a period of up to six nine months commencing on the Effective Date (or until such earlier date as Executive is no longer incurring such interim housing expenses). Notwithstanding the foregoing, Relocation Expenses shall not include “loss on sale” protection for Executive’s current home. The Company’s total reimbursement obligation in respect of the Relocation Expenses and Relocation Gross-Up shall not exceed $175,000400,000. If Executive terminates his employment without Good Reason or is terminated by the Company for Cause prior to the first anniversary of the Effective Date, Executive shall be required to repay the Company the gross amount of the Relocation Expenses incurred pursuant to this Section 3(d)(v) within forty-five days of the termination date. Executive shall submit to the Company receipts and other applicable documentation evidencing the Relocation Expenses promptly and in all events no later than March 1st of the year following the year in which the Relocation Expenses were incurredExpenses, and the Company shall remit payment for such Relocation Expenses in accordance with its standard accounts payable practices, but in any event no later than March 15th the last day of the calendar year following the calendar year in which the expense was incurred. Notwithstanding the foregoing, in the In no event that (i) Executive remains employed through the first anniversary of the Effective Date, (ii) Executive utilizes “Relocation Today” services for Executive’s relocation needs, and (iii) the total Relocation Expenses and Relocation Gross-Up are less than the $175,000, than Executive may request a “Relocation Cash-Out” payment equal to one-half of the difference between (x) $175,000 and (y) the actual amount of Relocation shall Reimbursement Expenses incurred and Relocation Gross-Up. The Relocation Cash-Out shall be paid as soon as reasonably practicable, but in all events prior to March 15, 2017. Executive shall not be entitled to one year affect reimbursements or payments or benefits due or payable in any Relocation Gross-Up on the Relocation Cash Outother calendar year.

Moving and Relocation Expenses. It is expected that Executive shall reside permanently in the Denver, Colorado metropolitan area during the Employment Period. Employer will pay on Executive’s behalf relocation expenses as set forth below (inclusive of the Relocation Gross-Up (as defined below)) (“Relocation Expenses”), subject to Employer’s customary payroll practices and legal requirements regarding withholding, provided that Relocation Expenses are incurred during Executive’s employment with the Company and within one year of the Effective Date. The Company shall also provide Executive with a tax gross-up for applicable federal, state and local taxes paid by Executive in connection with the reimbursement provided under this Section 3(e)(v3(d)(v) and the tax gross-up payment itself (the “Relocation Gross-Up”). The Relocation Gross-Up shall be paid no later than March April 15th of the year following the year in to which the related Relocation Expense was incurredsuch taxable income relates. The Relocation Expenses shall include (A) any brokerage commissions incurred in the sale of Executive’s current home (up to 6% of the sales price of Executive’s current home), (B) new loan financing fees, (BC) up to one “point” on a new mortgage loan, and (CD) other costs associated with buying or selling a homehome in an amount not to exceed $30,000. In addition, Relocation Expenses shall be provided for (A) reasonable expenses actually incurred by Executive to move personal effects from NashvilleScottsdale, Tennessee Arizona to the Denver, Colorado metropolitan area, (B) reasonable costs incurred for round trips by Executive or Executive’s spouse or both Executive and his spouse between Denver, Colorado and NashvilleScottsdale, Tennessee Arizona to search for a home and effectuate the relocation and (C) reimbursement for rent, electricity, gas and water expenses actually incurred by Executive for interim housing in the Denver, Colorado metropolitan area for a period of up to six nine months commencing on the Effective Date (or until such earlier date as Executive is no longer incurring such interim housing expenses). Notwithstanding the foregoing, Relocation Expenses shall not include “loss on sale” protection for Executive’s current home. The Company’s total reimbursement obligation in respect of the Relocation Expenses and Relocation Gross-Up shall not exceed $175,000400,000. If Executive terminates his employment without Good Reason or is terminated by the Company for Cause prior to the first anniversary of the Effective Date, Executive shall be required to repay the Company the gross amount of the Relocation Expenses incurred pursuant to this Section 3(d)(v) within forty-five (45) days of the termination date. Executive shall submit to the Company receipts and other applicable documentation evidencing the Relocation Expenses promptly and in all events no later than March 1st of the year following the year in which the Relocation Expenses were incurredExpenses, and the Company shall remit payment for such Relocation Expenses in accordance with its standard accounts payable practices, but in any event no later than March 15th the last day of the calendar year following the calendar year in which the expense was incurred. Notwithstanding the foregoing, in the In no event that (i) Executive remains employed through the first anniversary of the Effective Date, (ii) Executive utilizes “Relocation Today” services for Executive’s relocation needs, and (iii) the total Relocation Expenses and Relocation Gross-Up are less than the $175,000, than Executive may request a “Relocation Cash-Out” payment equal to one-half of the difference between (x) $175,000 and (y) the actual amount of Relocation shall Reimbursement Expenses incurred and Relocation Gross-Up. The Relocation Cash-Out shall be paid as soon as reasonably practicable, but in all events prior to March 15, 2017. Executive shall not be entitled to one year affect reimbursements or payments or benefits due or payable in any Relocation Gross-Up on the Relocation Cash Outother calendar year.

Moving and Relocation Expenses. It is expected that Executive shall reside permanently in the Denver, Colorado metropolitan area during on or before the Employment PeriodEffective Date. Employer will pay on Executive’s behalf relocation expenses as set forth below (inclusive of the Relocation Gross-Up (as defined below)) (“Relocation Expenses”), subject to Employer’s customary payroll practices and legal requirements regarding withholding, provided that Relocation Expenses are incurred during Executive’s employment with the Company and within one year of the Effective Date. The Company shall also provide Executive with a tax gross-up for applicable federal, state and local taxes paid by Executive in connection with the reimbursement provided under this Section 3(e)(v) and the tax gross-up payment itself (the “Relocation Gross-Up”). The Relocation Gross-Up shall be paid no later than March April 15th of the year following the year in to which the related Relocation Expense was incurredsuch taxable income relates. The Relocation Expenses shall include (A) any brokerage commissions incurred in the sale of Executive’s current home (up to 6% of the sales price of Executive’s current home), (B) new loan financing fees, (BC) up to one “point” on a new mortgage loan, and or (CD) other costs associated with buying or selling a homehome in an amount not to exceed $30,000. In addition, Relocation Expenses shall be provided for (A) reasonable expenses actually incurred by Executive to move personal effects from NashvilleSeattle, Tennessee Washington to the Denver, Colorado metropolitan area, (B) reasonable costs incurred for four round trips by Executive or Executive’s spouse or both Executive and his spouse between to Denver, Colorado and Nashvillefrom Seattle, Tennessee Washington to search for a home and effectuate the relocation and (C) reimbursement for rent, electricity, gas and water expenses actually incurred by Executive for interim housing in the Denver, Colorado metropolitan area for a period of up to six twelve months commencing on the Effective Date (or until such earlier date as Executive is no longer incurring such interim housing expenses). Notwithstanding the foregoing, Relocation Expenses shall not include “loss on sale” protection for Executive’s current home. The Company’s total reimbursement obligation in respect of the Relocation Expenses and Relocation Gross-Up shall not exceed $175,000425,000. If Executive terminates her employment without Good Reason or is terminated by the Company for Cause prior to the first anniversary of the Effective Date, Executive shall be required to repay the Company the gross amount of the Relocation Expenses incurred pursuant to this Section 3(e)(v) within forty-five days of the termination date. Executive shall submit to the Company receipts and other applicable documentation evidencing the Relocation Expenses promptly and in all events no later than March 1st of the year following the year in which the Relocation Expenses were incurredExpenses, and the Company shall remit payment for such Relocation Expenses in accordance with its standard accounts payable practices, but in any event no later than March 15th the last day of the calendar year following the calendar year in which the expense was incurred. Notwithstanding the foregoing, in the In no event that (i) Executive remains employed through the first anniversary of the Effective Date, (ii) Executive utilizes “Relocation Today” services for Executive’s relocation needs, and (iii) the total Relocation Expenses and Relocation Gross-Up are less than the $175,000, than Executive may request a “Relocation Cash-Out” payment equal to one-half of the difference between (x) $175,000 and (y) the actual amount of Relocation shall Reimbursement Expenses incurred and Relocation Gross-Up. The Relocation Cash-Out shall be paid as soon as reasonably practicable, but in all events prior to March 15, 2017. Executive shall not be entitled to one year affect reimbursements or payments or benefits due or payable in any Relocation Gross-Up on the Relocation Cash Outother calendar year.