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.




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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