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Memorandum Of Employee Automobile Expense Allowance
WHEREAS, The employee whose signature appears below agrees to
furnish his own automobile to perform his duties hereunder and shall keep it maintained
and repaired in good driving condition; and
WHEREAS, for the employee's benefit, the employee shall maintain
insurance on the automobile in at least the following amounts: Bodily injury liability,
____(1)___ Dollars ($_______) for each person injured, ____(2)_____ Dollars ($_______) for
each occurrence; property damage liability _____(3)_____ Dollars ($_______) for each
accident; _____(4)______ Dollars ($_______) deductible comprehensive coverage,
_____(5)_____ Dollars ($_______); ____(6)_____ Dollars ($_______) deductible collision
coverage at fair market value; and
WHEREAS, a certification of the employee's insurance showing those
coverages will be filed by the employee with the company; and
WHEREAS, all of the requirements of this section shall be complied with
at the employee's cost.
NOW THEREFORE, In consideration of the above, the company shall pay the
employee ___(7)____ Dollars ($_______) per week for the use of his automobile during the
period from ____(8)______, 19_(9)_, to ____(10)______, 19_(11)_. Those payments shall be
charged to the employee's account as an automobile allowance. The payments shall be made
weekly, but neither the payments nor this agreement shall make the company the owner,
bailee or lessee of
said automobile, nor shall the company be responsible for any damage to the automobile.
___________(12)________________
Employer
___________(13)________________
Employee
NOTICE
The information in this document is designed to provide an outline that
you can follow when formulating business or personal plans. Due to the variances of many
local, city, county and state laws, we recommend that you seek professional legal
counseling before entering into any contract or agreement.
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