SHERWIN-WILLIAMS 2007 EMPLOYEE LEASED VEHICLE AGREEMENT
I certify that I have received and read the Sherwin-Williams 2007 Leased Vehicle Agreement. I understand the policies stated therein
and will comply with the policies set forth.
Employee Signature Date: / /
Spouse's Signature Date: / /
1. The Sherwin-Williams Company is hereby authorized to deduct monthly, from the compensation of the above-signed employee,
the personal use charge for the depreciation, insurance, licenses and taxes. In addition, the employee will be charged for
operating costs for non-business miles at the mileage rate specified for the vehicle on the application form.
2. Other federal, state, or local laws may apply to this use agreement and remain the responsibility of the driver.
3. The employee agrees to complete a monthly expense report per the requirements of the respective divisions including an accurate
recording of personal use miles.
4. The employee also agrees to keep track on a monthly basis of all business miles driven, personal miles driven, and personal
mileage charges paid for the month. This mileage information will be submitted to Fleet Operations on an annual basis using the
Employee Statement Form that will be mailed to each driver by October 31 of each year. This mileage information will be used
to calculate the personal use taxable benefit that is a requirement of the Internal Revenue Service. If a driver is no longer working
for Sherwin-Williams, he must still report the mileage and personal mileage charge information for the month(s) during the year
where a company car was assigned.
5. The employee agrees to use Lease Plan for all maintenance and repairs performed on the vehicle. The employee will be
personally responsible for maintaining the vehicle in safe condition, good working order and appearance. Any loss or additional
maintenance expenses incurred that is due to non-conformance with Company or manufacturer’s maintenance policy can be
charged directly to the above-signed employee.
6. The employee agrees to use the Lease Plan/Wright Express Gas card for all gas purchases associated with the use of the company
7. The above-signed employee hereby agrees to retain the vehicle, until scheduled for replacement, or until the employee no longer
qualifies for a leased vehicle. The current replacement criteria are that the vehicle must have 60,000 miles on the odometer and
have been in service for a minimum of 24 months, or have 75,000 miles on the odometer regardless of the number of months in
8. If the above signed employee leaves the employ of the Company, he will immediately surrender possession of the vehicle to
his/her supervisor, and notify Sherwin-Williams Fleet Operations of this action and the vehicle location.
9. If the employee is terminated, transferred out of the vehicle, or the vehicle is sold to anyone other than the above-signed employee
for any reason, any and all personal moneys, or the value of moneys invested in the vehicle, are not refundable.
10. The only eligible driver of a Sherwin-Williams leased vehicle is the employee and his/her spouse. Both the employee and spouse
must be at least 21 years of age, possess and maintain a valid driver’s license, sign a Motor Vehicle Record Request Form, and
meet the physical requirements to operate a vehicle in the state that the vehicle will be registered.
11. The employee will properly notify the Company and the Company’s insurance carrier in the event of an accident or loss involving
the leased vehicle. The employee understands that personal property is not covered under the Corporate Insurance Program.
12. The employee agrees to be held totally responsible for all charges due to parking fines, towing incurred due to parking violations,
and all traffic violations.