New, exempt employees can receive relocation benefits. To be eligible, employees must be moving from a current residence (the dwelling where the employee usually lives) that is located outside a 50-mile radius of the Company location. Employees are expected to relocate to the area within 90 days of their start date. All relocation benefits are subject to repayment if employment is terminated for cause or if the employee resigns within 12 months after the date of actual relocation (the date the last amount is paid on the employee’s behalf for the relocation benefits described).
MOVING HOUSEHOLD GOODS: One-time movement of household goods, including the normal, actual costs of packing, transporting, and unloading goods.
HOUSE-HUNTING ALLOWANCE: Normal actual costs for up to two, three-day house hunting trips for relocating employees and their immediate family.
MISCELLANEOUS RELOCATION ALLOWANCE: To offset miscellaneous expenses incurred during relocation, a relocation allowance of $2,000 is granted to employees upon full relocation.
SPOUSAL JOB PLACEMENT ASSISTANCE: Up to $2,000 for any normal actual costs associated with assisting a new employee’s spouse in gaining employment.
TEMPORARY HOUSING ALLOWANCE: Normal, actual costs for temporary living quarters for relocating employees and their family for up to 90 days during the transition to a new primary residence. This includes reimbursement for the least expensive monthly house or apartment payment during the period of temporary housing. Payment for meals and telephone calls is not reimbursable under this allowance.
CLOSING COSTS FOR PURCHASE OF A NEW HOME: Usual and customary actual closing costs on the primary residence for a home purchased within 12 months of date of hire. This does not include discount points or real estate brokerage fees.
CLOSING COSTS FOR SALE OF CURRENT HOME: Usual and customary, actual closing costs incurred as a result of the sale of the current home within 12 months of date of hire. This does not include discount points or real estate brokerage fees.
The Company’s Administrative Policies and Plan documents include a full description of all benefits, terms, and conditions and will control in the event of any conflict with the summary above.