(i) The monthly car allowance amount is set by employee class on an annual basis and is paid as
additional taxable income in the employee’s regular paycheck. An employee receiving a car allowance is
responsible for the payment of any and all associated federal, state, and local taxes.
L. B. Foster Company
Leased Vehicle / Car Allowance Policy
1. GENERAL POLICY; PURPOSE
It is the policy of the L.B. Foster Company to provide a leased vehicle or vehicle allowance to employees that
have a need for business travel generally holding one of the following positions:
• Chairman and President;
• Corporate Officer;
• Sales Managers and Sales Positions;
• An eligible employee in which the position requires frequent business travel by automobile
A Chairman, President and CEO
$800 monthly Car Allowance. or Leased Car
B Corporate Officers
$700 monthly Car Allowance. or Leased Car
Sales Managers (Level
30 or higher)
Leased Car or $600 monthly Car Allowance.
Outside Sales personnel and other
eligible participants who are required to
drive in excess of 12,000 business miles
Leased Car or $500 monthly Car Allowance
3. ELIGIBLE DRIVER
Except in emergencies, driving of a Company vehicle shall be limited to employee and the employee’s spouse
over the age of twenty-five (25).
A. Car Allowance guidelines
(ii) Employees on a monthly car allowance, that drive personal vehicles for business reasons, will be
reimbursed for those miles at the established IRS reimbursement rate.
(iii) An employee receiving a car allowance is required to have available, as requ