Transitional Expenses. The Company will pay for the following additional expenses upon presentation of applicable receipts: i) the costs of your temporary living until you purchase a home, at a rate of per month to be agreed upon by you and me for up to a period of three (3) months; ii) the costs of a rental car until your automobile arrives in Austin or you purchase an automobile, which is expected to be for a period of no more than one (1) month; iii) the costs of your airfare to and from California for up to two (2) trips per month for a period of up to three (3) months, not to exceed $1,000 per month; iv) the costs of up to two (2) house hunting trips for you and your spouse.
Transitional Expenses. 39 23.0 NO PARTNERSHIP . . . . . . . . . . . . . . . . . . 41 24.0 NON-ASSIGNABILITY . . . . . . . . . . . . . . . . . . 41
Transitional Expenses. Everlast and Licensee acknowledge and agree that during the period January 1, 2005 through June 30, 2005, Everlast and Licensee will each incur costs and expenses related to the Licensed Products, payable on a monthly basis commencing January 31, 2005, which were previously borne and satisfied pursuant to contract solely by Everlast. The parties agree that such expenses shall, as of the Effective Date, be borne by Everlast and Licensee in accordance with the following rules:
Transitional Expenses. The Company will pay for the following additional expenses upon presentation of applicable receipts: i) the costs of your temporary living until you purchase a home, at a rate of per month to be agreed upon by you and me for up to a period of three (3) months; ii) the costs of a rental car until your automobile arrives in Austin or you purchase an automobile, which is expected to be for a period of no more than one (1) month; iii) the costs of your airfare to and from South Florida for up to two (2) trips per month for a period of up to three (3) months, not to exceed $1,000 per month; iv) the costs of up to two (2) house hunting trips for you and your spouse; v) closing costs (excluding buy-down points) resulting from the purchase of your new home in Austin.
Transitional Expenses. From the Commencement Date through the earlier of (a) the one year anniversary of the Commencement Date or as extended with prior approval of the President & CEO or (b) the date Employee relocates Employee's principal residence to San Diego County or the Southern Orange County area, Employer shall reimburse Employee for the first One Thousand Two Hundred Dollars ($1,200) ("Monthly Transitional Budget") reasonably incurred by Employee in establishing a secondary residence in San Diego County in any given month. In any given month that the Monthly Transitional Budget is not fully expended, the unused portion may be carried over to a following month with the prior approval of the President & CEO. The Employee hereby acknowledges that the Radisson Hotel is Employer's preferred choice for lodging for two nights per week at a current negotiated rate of Seventy-Five Dollars ($75.00) per night. Any allowance paid pursuant to this Section 5.4 shall be "grossed up" to cover Employee's local, state and federal income tax liability at Employee's then current marginal tax rate if deemed necessary by Employer's accountants. The tax gross-up payment(s) shall initially be calculated at an assumed effective marginal rate of forty percent (40%) and paid to Employee no later than (i) April 15 of the calendar year following any year Employee has expenses reimbursed pursuant to this Section; and (ii) any date Employee is required to make increased quarterly estimated payments due to Employee's receipt of the allowance payments pursuant to this Section. Once Employee has finalized Employee's federal and state income tax returns, Employee's effective marginal rate shall be calculated and any shortfall or overpayment will be corrected.
Transitional Expenses. The Corporation shall reimburse Executive for all actual and reasonable costs for relocation of Executive's family from Irving, Texas to Orange County, California. The Corporation will also reimburse Executive for the actual costs for rental housing in Orange County, California for a six month period not to exceed $14,000.00 for such six-month period. The Corporation shall pay Executive $1,500.00 per month for a maximum of six months for travel to and from Texas until relocation of Executive's family to Orange County, California.
Transitional Expenses. The Company shall pay for the following transitional expenses upon presentation of applicable receipts: i) the costs of your temporary living until you purchase a home, at a rate of per month to be agreed upon with CEO for a period of up to a period of six (6) months from the Effective Date; ii) the costs of a rental car until your automobile arrives in Austin or you purchase an automobile, for a period of up to one (1) month from the Effective Date; iii) the costs of your airfare to and from San Diego for up to two (2) trips per month for a period of up to six (6) months from the Effective Date, such expense not to exceed $1,000 per month; iv) the costs of up to two (2) house hunting trips for your spouse; v) the costs of moving your family members and reasonable household goods to Austin, Texas; vi) the closing costs resulting from the sale, if any, of your existing home; vii) the closing costs resulting from the purchase, if any, of your new home in Austin, Texas. Company shall be responsible for all taxes, including withholding taxes, owed on reimbursable expenses paid to Executive or paid directly by Company to a third party on Executive's behalf, as set forth in this Section 3.5.1.
Transitional Expenses. Purchaser agrees to reimburse the Company for any actual expenses incurred by the Company for services provided by third parties to Purchaser that become Purchaser's responsibility after the Closing. Purchaser reserves the right to audit the amount of all invoices submitted by the Company to Purchaser for payment pursuant to this Section.
