EMPLOYEE RELOCATION AGREEMENT
THIS EMPLOYEE RELOCATION AGREEMENT ("Agreement") is made on [Date], BETWEEN: [Company Name], a [State] corporation, of [Company Address] ("Company") AND [Employee Name], currently residing at [Current Address] ("Employee").
RECITALS
WHEREAS, Company requires Employee to relocate to [New Location] for business purposes; and WHEREAS, Company agrees to provide relocation assistance under the terms specified herein.
1. DEFINITIONS
1.1 "Relocation" means Employee's permanent change of residence to [New City, State] to report to [New Work Location].
1.2 "Relocation Expenses" means reasonable costs directly related to the approved relocation.
1.3 "Repayment Period" means the time during which Employee must remain employed to avoid repayment obligations.
2. RELOCATION REQUIREMENTS
2.1 Employee must relocate by [Deadline Date] to assume duties at [New Work Location].
2.2 New position title: [Position Title] reporting to [Supervisor].
2.3 Failure to complete relocation by the deadline may result in termination of employment.
3. COMPANY RELOCATION ASSISTANCE
3.1 Moving Expenses: Company will reimburse up to $[Amount] for professional moving services.
3.2 Travel Costs: Reasonable transportation expenses for Employee and immediate family to new location.
3.3 Temporary Housing: Up to [Number] days of temporary lodging at $[Amount] per day maximum.
3.4 House Hunting: Up to [Number] trips for house hunting with expenses up to $[Amount] total.
3.5 Additional Benefits:
- Real estate commission assistance: $[Amount]
- Closing cost assistance: $[Amount]
- Mortgage rate differential: [Terms]
- Spousal job search assistance: [Details]
4. REIMBURSEMENT PROCEDURES
4.1 Employee must obtain pre-approval for expenses exceeding $[Amount].
4.2 All expenses must be documented with receipts and submitted within [Timeframe].
4.3 Reimbursement will be processed within [Number] business days of approval.
5. REPAYMENT OBLIGATIONS
5.1 If Employee voluntarily terminates employment within [Time Period] of relocation, Employee must repay relocation assistance according to the following schedule:
- Year 1: 100% of assistance
- Year 2: 75% of assistance
- Year 3: 50% of assistance
- After Year 3: No repayment required
5.2 No repayment required if termination is due to:
- Company layoff or downsizing
- Termination without cause by Company
- Disability preventing work performance
6. TAX IMPLICATIONS
6.1 Employee is responsible for all federal and state tax obligations related to relocation benefits.
6.2 Company will provide tax gross-up payments for [Specific Benefits] to offset tax liability.
6.3 Employee should consult tax advisor regarding deductibility of moving expenses.
7. REAL ESTATE ASSISTANCE
7.1 Home Sale: Company will assist with sale of current residence through [Program Details].
7.2 Home Purchase: Company will provide [Type of Assistance] for purchase in new location.
7.3 Appraisal: Professional appraisals will be obtained for valuation purposes.
8. FAMILY CONSIDERATIONS
8.1 Spouse employment assistance includes resume preparation and job search support.
8.2 Educational assistance for dependent children includes school enrollment support.
8.3 Family counseling services available to assist with relocation adjustment.
9. TIMELINE AND MILESTONES
9.1 Relocation acceptance deadline: [Date] 9.2 House hunting trip completion: [Date] 9.3 Current residence listing date: [Date] 9.4 Physical relocation completion: [Date] 9.5 First day at new location: [Date]
10. EMPLOYMENT TERMS
10.1 Salary at new location: $[Amount] annually.
10.2 Benefits remain unchanged unless otherwise specified.
10.3 Job responsibilities and reporting structure as outlined in position description.
11. MODIFICATION AND CANCELLATION
11.1 Company reserves right to cancel relocation assistance if business needs change.
11.2 Modifications to this Agreement require written consent from both parties.
11.3 Cancellation due to Company decision will not result in Employee repayment obligations.
12. GOVERNING LAW
This Agreement shall be governed by the laws of [State/Jurisdiction].
13. MISCELLANEOUS
13.1 This Agreement supplements existing employment terms and conditions.
13.2 Dispute resolution through binding arbitration in [Location].
13.3 Invalid provisions do not affect enforceability of remaining terms.
DISCLAIMER
This template should be reviewed by employment and tax counsel. Relocation benefits may have significant tax implications and vary by state and federal regulations.
SIGNATURES
COMPANY:
_________________________ Date: __________ [Name], [Title] [Company Name]
EMPLOYEE:
_________________________ Date: __________ [Employee Name]
SPOUSE (if applicable):
_________________________ Date: __________ [Spouse Name]
