Relocation Expense Reimbursement. Receipts or other supporting documentation are required for reimbursement of all Relocation and Commuting Expenses. All expenses must be reasonable and receipts must be submitted within sixty (60) days of being incurred. If Employee meets the terms under the Internal Revenue Service Section 217, all reimbursements for Relocation Expenses, which may, by applicable law, be reimbursed to Employee without a requirement that Employee pay taxes on the reimbursed amounts, shall be reimbursed to Employee on a non-tax basis. Any amounts received by Employee for Relocation Expenses which, by law, must be reimbursed as taxable income will be reported as taxable income to Employee in the year received as required by applicable law and Employee will be responsible for payment of all applicable income tax due in connection with such expenses directly paid for by the Company or reimbursed to Employee by the Company. Beginning January 1, 2010 Commuting Expenses will be treated as business expenses so long as they are within the terms defined above, continue to be eligible business expenses as defined by the IRS and comply with all Company travel and expense policies.
Relocation Expense Reimbursement. The Bank will pay directly or reimburse Executive, promptly after receipt from Executive of invoices or other supporting documentation, for up to $25,000 in reasonable expenses incurred by Executive in relocating to the Wichita, Kansas metropolitan area; provided that receipts or invoices for all such expenses must be submitted by Executive to the Bank for reimbursement within a reasonable time after such expense is incurred. If on or before the first anniversary of the Effective Date Executive terminates his or her employment hereunder (other than for Good Reason) or the Bank terminates Executive’s employment for Cause, Executive must promptly repay the Bank in full for the amount of such relocation expenses actually paid or reimbursed by the Bank.
Relocation Expense Reimbursement. The Company shall reimburse you, upon proper accounting, for reasonable and customary expenses up to $75,000 incurred by you in the course of relocating to the Boston, Massachusetts area, including travel expenses arising from trips to Chicago to visit your wife and/or trips by your wife to the Boston area. In addition, the Company shall pay you such additional amount as is necessary to compensate you for any tax you may incur by reason of such reimbursement payment. Your rights to seek reimbursement pursuant to this Paragraph 2(f) shall expire on January 22, 2002; provided, that you shall have rights to reimbursement in accordance with this Paragraph for any expenses incurred prior to such date so long as you submit a reasonably detailed reimbursement request within thirty days following January 22, 2002.
Relocation Expense Reimbursement. Consistent with Schedule B, Section 11 of the Prior Agreement, unless Employee is terminated without Cause or Employee terminates her employment with Good Reason, if Employee’s employment terminates before July 25, 2015, Employee will, within 60 days of her Termination Date, reimburse Employer any amount above $20,000 of any relocation allowance that had been paid to Employee. Employee should refer to the IRS guidelines for moving expenses.
Relocation Expense Reimbursement. If Executive chooses to -------------------------------- relocate his principal residence closer to the Company's offices, the Company will reimburse Executive for the following reasonable costs:
(i) Transaction costs associated with buying Executive's new residence (closing costs, inspections, title insurance, brokerage and related fees, etc.).
(ii) Transaction costs associated with selling Executive's old residence (closing costs, inspections, title insurance, brokerage and related fees, etc.).
(iii) Moving household furnishings and personal effects.
(iv) Temporary living expenses. Executive will be fully grossed-up by the Company for any imputed income required to be recognized with respect to this reimbursement so that the economic effect to Executive, after taking into account any tax deductions available to Executive, is the same as if this reimbursement was provided to Executive on a non-taxable basis.
Relocation Expense Reimbursement. It is agreed that within ---------------------------------- twelve months of the Effective Date you will relocate your primary residence to the Louisville, Colorado area. In completing such relocation, you will be eligible to participate in the Company=s executive relocation reimbursement program. Specifically, the Company will either pay or reimburse you for the following expenses which payments or reimbursements shall be grossed-up to the extent they are taxable to you.
i) Shipment of household goods and automobiles to Colorado, plus storage of household goods while you are in temporary living accommodations; ii) Temporary living in Colorado for you and your family for up to 120 days; iii) Travel, meals and lodging en route to Colorado for you and your family; iv) Two house-hunting trips to Colorado for you and your spouse for up to a total of ten days; v) Reasonable and standard closing costs associated with the purchase of a home in Colorado, provided that such home is purchased within 24 months of the Effective Date; vi) Realtor fees and closing costs on the sale of your current residence, provided that such sale occurs within 24 months of the Effective Date; and vii) A one-time relocation allowance equal to 8% of your Base Salary. Should your employment with the Company be terminated per Section 9(b) below within two years of the Effective Date, then an aggregate amount equal to the sum of all amounts in respect of relocation paid to you pursuant to this Section, adjusted for any negative tax effect on you but without requiring you to amend any tax return already filed and reduced by 1/24 per month over a period of twenty-four months starting from the Effective Date, shall be repayable by you to the Company within thirty days of the Termination Date.
Relocation Expense Reimbursement. The Company agrees to directly pay, or reimburse Employee for, all reasonable fees, costs and expenses incurred in connection with his relocation from Illinois to Missouri in a manner consistent with Company policies for senior, executive-level employees of the Company.
Relocation Expense Reimbursement. The Company shall reimburse Executive for all reasonable and customary expenses (the "Relocation Expenses") incurred by Executive and his immediate family in connection with the relocation from their current residence in Farmington Hills, Michigan, subject to the Company's requirements with respect to reporting and documentation of such expenses. The Relocation Expenses shall include: (i) transaction costs incurred by Executive in connection with his purchase of a new residence including attorney fees, transfer faxes, inspection fees and title insurance, (ii) travel and lodging costs for one house-hunting trip for Executive and his immediate family, (iii) moving expenses, including packing, shipping, insurance, unpacking and temporary storage costs, (iv) temporary living expenses for a period of up to twelve months, (v) expenses incurred by Executive to visit his immediate family for up to twelve months until they are able to relocate, (vi) for the period, if any, after the purchase of a new residence and prior to the sale of Executive’s current residence, during which Executive has two mortgage payments, one of such mortgage payments, (vii) transaction costs and real estate commissions incurred by Executive in connection with the sale of Executive’s current residence, including attorney fees, transfer faxes, inspection fees and title insurance, and (viii) the amount, if any, by which the original purchase price of the Executive’s current residence exceeds the ultimate sales price less real estate commissions and closing costs (to the extent not otherwise reimbursed by the Company under clause (vii)). In addition, the Executive shall receive a relocation bonus of $19,000, payable on the Effective Date, to cover the other costs associated with the relocation of Executive’s primary residence. All payments by the Company pursuant to this Section 4.8 shall be increased, or “grossed-up,” by the amount of any Federal and state income taxes payable by the Executive as a result of any such payments being treated as taxable income for Federal or state income tax purposes.
Relocation Expense Reimbursement. The Company shall reimburse you, upon proper accounting, for reasonable and customary expenses up to One Hundred Twenty Five Thousand Dollars ($125,000) incurred by you in the course of relocating to the Boston, Massachusetts area. The Company will provide relocation services through its preferred provider, Relocation Outsource Inc. (ROI) whose services will be available to you for all phases of your relocation. A list of covered expenses was included in the relocation agreement attached to your offer letter. Relocation expenses that are outside of these categories must be approved in advance by the Company, which approval shall not be unreasonably withheld or delayed. Your rights to seek reimbursement pursuant to this Paragraph 1(g) shall expire on the date twelve (12) months following the Start Date; provided, that you shall have rights to reimbursement in accordance with this Paragraph for any expenses incurred prior to such date so long as you submit a reasonably detailed reimbursement request within thirty days following such date. In addition, the Company shall pay you any additional amount necessary to compensate you for any federal, state and local taxes you may incur by reason of such reimbursement payments (the “Gross Up Payment”) and any additional amount necessary to compensate you for any such taxes incurred by you by reason of the Gross Up Payment.
Relocation Expense Reimbursement. The Company will reimburse Employee, grossed up to accommodate taxes net of deductions, “out of pocket” expenses associated with living in the Washington, Pennsylvania area. The Company will pay Employee’s temporary living expenses which includes, housing ( not to exceed $1,660 per month), automobile allowance ($450 per month) and telephone, real estate taxes, condo fees, including closing costs not to exceed $12,000, and utility expenses, as incurred.
