Common use of Termination Automobile Clause in Contracts

Termination Automobile. Within 10 days following termination, the Company shall transfer all of its interest in any automobile used by the Employee pursuant to the Company’s Employee Automobile Policy (the “Employee Automobile Policy”) and shall pay the balance of any outstanding loans or leases on such automobile (whether such obligations are those of the Employee or the Company) so that the Employee owns the automobile outright (in the event such automobile is leased, the Company shall pay the residual cost of such lease).

Termination Automobile. Within 10 days following termination, the Company shall transfer all of its interest in any automobile used by the Employee Executive pursuant to the Company’s Employee Executive Automobile Policy (the “Employee Executive Automobile Policy”) and shall pay the balance of any outstanding loans or leases on such automobile (whether such obligations are those of the Employee Executive or the Company) so that the Employee Executive owns the automobile outright (in the event such automobile is leased, the Company shall pay the residual cost of such lease).

Termination Automobile. Within 10 days following termination, the Company shall transfer all of its interest in any automobile used by the Employee pursuant to the Company’s 's Employee Automobile Policy (the “"Employee Automobile Policy”") and shall pay the balance of any outstanding loans or leases on such automobile (whether such obligations are those of the Employee or the Company) so that the Employee owns the automobile outright (in the event such automobile is leased, the Company shall pay the residual cost of such lease).

Termination Automobile. Within 10 days following terminationtermination , the Company shall transfer all of its interest in any automobile used by the Employee pursuant to the Company’s Employee Automobile Policy (the “Employee Automobile Policy”) and shall pay the balance of any outstanding loans or leases on such automobile (whether such obligations are those of the Employee or the Company) so that the Employee owns the automobile outright (in the event such automobile is leased, the Company shall pay the residual cost of such lease).