Relocation Payments. The Executive will be reimbursed for out-of-pocket expenses reasonably and necessarily incurred by the Executive in connection with one-time moving and transportation cost associated with the relocation of the Executive’s family and household goods to the Branford metropolitan area, provided such relocation is effected within 24 months of the Commencement Date and provided that the Executive is an employee of the Company at the time the relocation payments are incurred by the Executive.
Relocation Payments. The Employee’s employment hereunder requires that he relocate his principal residence to the Charlotte, North Carolina metropolitan area. To compensate the Employee for the costs associated with such relocation, Duke Energy will reimburse the Employee for direct and indirect costs incurred on account of such relocation in accordance with Duke Energy’s relocation policies and procedures; provided that the Employee shall not be eligible to receive a tax gross-up payment or indemnification if any such reimbursement for relocation costs constitutes taxable income to the Employee; provided, further, that relocation services shall be available to the Employee for up to two years immediately following the Effective Date.
Relocation Payments. LESSEE understands and agrees that it shall not be entitled to any relocation payment/benefits whatsoever upon termination or expiration of this Lease.
Relocation Payments. (a) In the event that State terminates this Lease pursuant to it terms, Xxxxxx acknowledges and agrees that it has no claim against the State for Relocation Payments, Relocation Advisory Assistance, or costs pursuant to the Government Code sections 7260 et seq., or any regulations implementing or interpreting such sections. Xxxxxx further agrees that it has no claim in either law or equity against the State for damages or other relief should the Lease be terminated, and waives any such claims it may have.
(b) the event subleasing, under the terms of this Lease, is permitted, LESSEE shall incorporate this Paragraph into the sublease. Failure to do so may obligate LESSEE for damages and costs resulting from claims for relocation payments by sublessee.
Relocation Payments. We hereby memorialize our prior agreement to pay you the unpaid balance of a relocation bonus of $450,000 in support of your relocation from Stamford, Connecticut to Dallas, Texas in 2002, which relocation bonus was originally payable in 36 monthly payments of $12,500 per month in the first pay cycle of each month and which monthly payments commenced on September 3, 2002. Except as otherwise provided in Sections 4(a), 4(b)(iv), 4(c)(v), 5(a), 5(b)(iv) and 5(c)(v), our obligation to make these monthly payments to you, or a lump sum payment to you in satisfaction thereof, will cease at such time as you are no longer employed by us for any reason. Such monthly relocation bonus payments are referred to herein as the "Relocation Payments."
Relocation Payments. Employee’s employment hereunder requires that he relocate his principal residence to Charlotte. To compensate Employee for the costs associated with such relocation, Duke Energy will reimburse the Employee for the following:
(i) closing costs on the sale of his current Australian residence, and closing costs on the purchase of a residence in the Charlotte area, with respect to transactions occurring not later than December 31, 2004;
(ii) the reasonable costs of temporary housing in Charlotte from the date of his arrival in Charlotte through the earlier of (i) his occupancy of a principal residence in the Charlotte area, and (ii) June 30, 2004; and
(iii) any loss (taking into account closing costs) on the sale of his Charlotte-area principal residence occurring in connection with or following the termination of his employment with Duke Energy. The costs payable pursuant to the foregoing will be determined with reference to Duke Energy’s relocation program 1. Duke Energy will also make tax gross-up payments to Employee with respect to the foregoing, consistent with such relocation program. In addition, Employee’s relocation to North Carolina may result in income from the following sources becoming subject to North Carolina income taxes;
(iv) payments from the PanEnergy Corp Key Executive Deferred Compensation Plan;
(v) BHP Billiton LTD pension plan;
(vi) Quarterly consulting fees payable through 2004; and
(vii) gain on sale of currently held shares of BHP Billiton LTD common shares traded on the Australian stock exchange. To the extent that the Employee must pay North Carolina income taxes as a result of such income realized by him during his employment hereunder. Duke Energy will promptly reimburse the Employee for such North Carolina income tax payments (net of the benefit of the deduction, for federal tax purposes, for the payment of such North Carolina taxes) and also make a tax gross-up payment so as to hold him harmless from any federal or state taxes with respect to such reimbursement.
Relocation Payments. Except as otherwise provided for under this Agreement, the Company shall pay or reimburse Executive for the relocation costs that are incurred by Executive in connection with his move to Houston, Texas, in accordance with the Company policies; provided that such payment or reimbursement shall be made as soon as practicable after the Company receives reasonably satisfactory evidence of such fees, but in no event shall such payment or reimbursement be made later than December 31, 2008; provided, further, that Executive shall not be entitled to any payment or reimbursement under this Section 5(b)(iv) if Executive fails to provide the Company with evidence of such relocation costs prior to December 1, 2008. Without limiting the foregoing, to the extent any of the relocation costs that are paid or reimbursed by the Company pursuant to this Section 5(b)(iv) (other than costs of moving household and personal effects and traveling to Executive’s new residence) are treated by the Company as compensation income to Executive (the “Relocation Payments”), the Company shall provide Executive with an additional gross-up payment (the “Relocation Gross-Up Payment”) equal to the federal income, state income and employment taxes imposed on the Relocation Payments and such Relocation Gross-Up Payment (assuming, for these purposes, the Tax Assumptions), so that the net amount received by Executive pursuant to this Section 5(b)(iv) shall equal the amount Executive would have received had such Relocation Payments not been subject to such federal income, state income or employment taxes; provided that such Relocation Gross-Up Payment (if any) shall be made to Executive no later than the end of the calendar year following the year in which the taxes were remitted to the relevant taxing authorities.
Relocation Payments. On the Company’s first regular payroll date following the Start Date, the Company shall pay the Executive a one-time relocation payment in the amount of $50,000, less applicable deductions and withholdings (the “Initial Relocation Payment”). The Initial Relocation Payment shall be in lieu of any payment or reimbursement to the Executive in connection with the Executive’s relocation or temporary living arrangements. In addition, if the Executive permanently relocated to the Cambridge, MA area within three (3) years from the Start Date (such permanent relocation date, as to be determined by the Company in good faith, the “Relocation Date”), on the Company’s first regular payroll date following Relocation Date the Company shall pay the Executive an additional one-time relocation payment in the amount of $100,000, less applicable taxes (the “Additional Relocation Payment”). If Executive either (i) resigns from employment with the Company for any reason except for Good Reason, or (ii) is terminated by the Company for Cause, then the Executive agrees to repay to the Employer within sixty (60) days of the Date of Termination, the Initial Relocation Payment and the Additional Relocation Payment to the extent that either or both such payments were paid to the Executive within the one year period to the Date of Termination. Notwithstanding anything to the contrary, the Executive must be employed by the Company (i) on the date the Initial Relocation Payment is paid eligible to receive the Initial Relocation Payment; and (ii) on the date the Additional Relocation Payment is paid eligible to receive the Additional Relocation Payment.
Relocation Payments. The Employee’s employment hereunder requires that he relocate his principal residence to Charlotte, North Carolina. To compensate the Employee for the costs associated with such relocation, Duke Energy will reimburse the Employee for costs incurred on account of such relocation in accordance with the Cinergy relocations policies and procedures or, if more favorable, the Duke Energy relocation policies and procedures, as in effect with respect to other similarly situated senior executives of Cinergy from time to time.
Relocation Payments. In order to assist the Executive in ------------------- relocating to New York, the Company will (i) reimburse the Executive in an amount not to exceed $3,000 per month for reasonable living expenses of the Executive in New York for a period of up to six months following commence ment of the Term, including rental expenses of a suitable apartment in New York City or in another area in reasonable proximity to the Company's headquarters selected by the Executive and (ii) pay the Executive an additional $150,000 to assist the Executive in purchasing or otherwise acquiring permanent housing in New York.
