Relocation Benefits. Subject to the terms and conditions of this Agreement, and conditioned upon Employee’s Continuous Service (as defined in Section 4.2 below) with the Company as well as the provision of supporting receipts and documentation as reasonably requested from time-to-time by the Company, the Company will reimburse the following costs and expenses as actually incurred by Employee in relation to his Relocation (the “Relocation Benefits”): (a) Up to twenty-eight thousand dollars ($28,000) for reasonable direct costs paid to third-party professional moving vendors to move and temporarily store if necessary Employee’s household goods and furnishings, personal automobiles, and other personal property from Employee’s current single-family home residence in Maryland to a new residence within commuting distance of Company’s headquarters in Redwood City, California; and (b) For a period of six (6) months commencing December 1, 2013, an amount each month of up to five thousand dollars per month ($5,000) net, i.e. after payment by the Company of required withholding for applicable taxes, as a rental allowance toward actual monthly rental expenses incurred in renting or leasing a new residence within commuting distance of Company’s headquarters in Redwood City; and (c) Thereafter, for an additional period of six (6) months commencing June 1, 2014, an amount each month of up to four thousand dollars per month ($4,000) net, i.e. after payment by the Company of required withholding for applicable taxes, as a rental allowance toward actual monthly rental expenses incurred in renting or leasing a residence within commuting distance of Company’s headquarters in Redwood City; and (d) Thereafter, for an additional period of twelve (12) months commencing December 1, 2014, an amount each month of up to three thousand two hundred dollars per month ($3,200) net, i.e. after payment by the Company of required withholding for applicable taxes, as a rental allowance toward actual monthly rental expenses incurred in renting or leasing a residence within commuting distance of Company’s headquarters in Redwood City. Except as expressly provided above in this Section 1 (“Relocation Benefits”), all costs, expenses and liabilities arising from or relating to Employee’s Relocation shall be the sole responsibility of Employee. |