Relocation and Housing Allowance Clause Samples
The Relocation and Housing Allowance clause provides financial support or reimbursement to employees who are required to move to a new location for work. Typically, this clause outlines the types of expenses covered, such as moving costs, temporary accommodation, or assistance with securing permanent housing. Its core function is to ease the financial and logistical burden of relocation, ensuring employees can transition smoothly to their new work location without incurring undue personal expense.
Relocation and Housing Allowance. During the Term, Employer shall pay the or expend on behalf of the Executive up to one hundred and twenty-five thousand dollars ($125,000) as reimbursement for all reasonable and documented costs associated with the Executive's relocating his residence, traveling to and from his residence, local housing, automobile costs and other costs directly related to Executive's relocation, housing or travel.
Relocation and Housing Allowance a. Company will reimburse Employee for all reasonable costs related to relocation to Hawaii, which will include, but not be limited to, the following items: (i) the reasonable out-of-pocket costs of moving his household goods and belongings from his present home to Hawaii, including packing, unpacking, shipping and insurance; (ii) the shipment of one automobile to Hawaii; (iii) closing costs at actual and reasonable amounts for the sale of your current home, and/or the purchase of a home in Honolulu, Hawaii, and (iv) one (1), one-way travel costs (coach) for Employee and his spouse and eligible dependents directly related to Employee’s relocation to Hawaii, (collectively referred to as the “Relocation Expenses”). The Relocation Expenses will be reimbursed to a maximum of $40,000, with appropriate receipts, inclusive of tax with appropriate receipts.
b. If, during the first twelve(12) months following the Effective Date, Company terminates Employee’s employment without Cause then Company will reimburse Employee for eligible costs related with relocation from Hawaii, which will include but not be limited to the following items: (i) the reasonable out-of-pocket costs of moving your household goods and belongings from Hawaii, including packing, unpacking, shipping and insurance; (ii) the shipment of one automobile from Hawaii; (iii) closing costs at actual and reasonable amounts for the sale of your home in Honolulu, Hawaii, and (iv) one, one-way airfare (coach) for Employee and his spouse and eligible dependents directly related to Employee’s relocation from Hawaii. The Termination Expenses will be reimbursed up to a maximum of the lesser of (i) actual Relocation Expenses paid under Section 5.a. above, or (ii) $40,000, inclusive of tax, with appropriate receipts.
c. If, during the first twelve (12) months following the Effective Date, Employee voluntarily resigns from Company (other than due to a material breach of this Agreement by Company), Employee agrees to repay Company the full amount Employee received as Relocation Expenses in Section 5.a.
d. The Company will also provide to Employee a lump sum payment of $30,000.00 less applicable withholdings, for use in Employee’s discretion in conjunction with relocation and commencement of employment with the Company.
e. Employee will be provided with a $2,500 monthly housing allowance (gross before taxes) or equivalent, for the first twenty-four (24) months of employment. This allowance may be extended beyond tha...
Relocation and Housing Allowance. The Company shall provide Executive with a relocation and housing allowance for the period commencing April 1, 2004 through December 31, 2005, which shall include reimbursement for Executive's actual and documented rent, security deposit, and broker commissions or fees; provided, however, that rent reimbursement will be capped at $7,600 per month through December 31, 2004 (the "2004 Cap") and $8,360 per month in 2005 (the "2005 Cap"). The Company shall also cover similar expenses incurred from January 1, 2004 through the Effective Date, subject to the 2004 Cap. The Company hereby agrees to execute any rent payment guarantees reasonably required by any third party as a result of Executive's international status in connection with Executive's living accommodations. All relocation and housing allowances made under this Paragraph shall be grossed up as necessary to account for any applicable income or other taxes for which Executive may be responsible in connection therewith, including as a result of the gross up. If Executive's employment hereunder is terminated prior to December 31, 2005 by the Company without Cause or as a result of Disability, as a result of the Executive's death or by the Executive for Good Reason, the Company will assume all of Executive's obligations with respect to his housing through December 31, 2005, subject to the 2004 Cap and the 2005 Cap.
Relocation and Housing Allowance. The Company shall provide Executive with a relocation and housing allowance for the period commencing April 1, 2004 through the Term of this Agreement, provided that, Executive continues to serve as the Chief Executive Officer of the Company. The relocation and housing allowance shall include reimbursement for Executive's actual and documented rent, security deposit, and broker commissions or fees; provided, however, that rent reimbursement will be capped at (i) $7,600 per month through December 31, 2004 (the "2004 Cap"), (ii) $8,360 per month in calendar 2005 (the "2005 Cap"), (iii) $12,200 per month in calendar 2006, and (iv) for each remaining year of the Term during which Executive is entitled to receive the housing allowance, such amount as is equal to or above $12,200 and is reasonable and necessary to secure appropriate housing, in accordance with then standard market conditions. The Company shall also cover similar expenses incurred (i) from January 1, 2004 through the Effective Date, subject to the 2004 Cap and (ii) from November 26, 2004 to June 6, 2005, subject to the 2004 Cap and 2005 Cap, as applicable and regardless of whether Executive was then serving as the Chief Executive Officer of the Company. The Company hereby agrees to execute any rent payment guarantees reasonably required by any third party as a result of Executive's international status in connection with Executive's living accommodations. All relocation and housing allowances made under this Paragraph shall be grossed up as necessary to account for any applicable income or other taxes for which Executive may be responsible in connection therewith, including as a result of the gross up. If Executive's employment hereunder is terminated prior to expiration of the Term by the Company without Cause or as a result of Disability, as a result of the Executive's death or by the Executive for Good Reason, the Company will assume all of Executive's obligations with respect to his housing through the end of the then current calendar year, subject to the applicable rent reimbursement cap for that year. If Executive ceases to serve as the Company's Chief Executive Officer prior to expiration of the Term for any reason other than those specified in the preceding sentence, then the Company shall not be obligated to provide the housing allowance or assume all of the Executive's obligations with respect to his housing for any period thereafter, except that the Company shall continue to provide th...
Relocation and Housing Allowance. Upon submission of appropriate invoices the Company agrees to reimburse Executive for reasonable actual incurred expenses associated with the costs of relocation up to $7,500. The Company also agrees to reimburse Executive for the actual costs associated with temporary housing up to $7,500 per month for a period of six (6) months commencing on March 30, 2020.
Relocation and Housing Allowance