SPOR » Topics » Relocation Expenses .

This excerpt taken from the SPOR 10-Q filed Feb 22, 2005.
  Relocation Expenses. Except as set forth in this Section 1.6, until the Executive completes his relocation to Denver, Colorado, on or before May 31, 2005 the Company shall pay to the Executive (i) all expenses incurred by the Executive for temporary living quarters while the Executive is relocating to Denver, Colorado, (ii) all moving and storage expenses for household goods in connection with the Executive’s relocation, (iii)  all travel expenses of the Executive and his spouse for up to six separate round trips related to the Executive’s search for a residence in the Denver, Colorado area, and (iv) all expenses incurred by Executive in the sale of Executive’s residence in Houston, Texas, including the real estate commission paid by Executive. The Executive shall present to the Company an itemized account of such expenditures, and repayment of such expenses by the Company shall be amortized throughout the effective term of this Agreement. In the event the Executive terminates his employment without cause pursuant to Section 3.5 hereof, the non-amortized portion of such expenses shall be reimbursed to the Company by the Executive.

 

Section 1.7

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