Employee Retention Credit Sample Clauses

Employee Retention Credit. Reinstatement Election
Sample 1
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Employee Retention Credit. Except to the extent reflected as an asset or otherwise included as a positive adjustment in the calculation of the Closing Merger Consideration (as finally determined under Section 2.08) or attributable to a Tax attribute arising in a taxable period (or portion thereof) beginning after the Closing Date, Acquiror shall pay, or cause to be paid to, the Stockholder Representative (to be paid by the Stockholder Representative to each Company Preferred Stockholder in accordance with such Company Preferred Stockholder’s Ownership Allocation) an amount equal to any and all Tax refunds relating to any employee retention tax credit set forth in Section 2301 of the CARES Act (as modified by the Consolidated Appropriations Act, 2021), for the 2020 Tax year in respect of the Tax filings made by the Company requesting a Tax refund of approximately $214,000.00, together with any and all interest paid or credited with respect thereto from the applicable Governmental Authority within ten (10) Business Days of the receipt by Acquiror or any of its Affiliates (including, following the Closing Date, the Surviving Corporation and each of its Subsidiaries) of such Tax refund.
Sample 1
Employee Retention Credit. In addition to the Purchase Price, Seller shall be eligible to receive from Company additional cash valued at an amount equal to the Employer Retention Credit, if any, due Company under Section 2301 of the CARES Act or any corresponding or similar provision of state or local Tax Law, for the Employee Retention Credit eligibility period preceding the Closing Date. Company shall use commercially reasonably efforts (which shall not include the commencement of any Action) to pursue the collection of the Employer Retention Credit which was applied for by Company prior to the Closing Date and, when received, will remit the amount of such credit received by Company to Seller, within ten (10) days of receipt, to a bank account designated in writing by Seller.
Sample 1
Employee Retention Credit. Sellers do not intend to apply for any Employer Retention Credit, under Section 2301 of the CARES Act or any corresponding or similar provision of state or local Tax Law, for the Employee Retention Credit eligibility period preceding the Closing Date and Buyers agree not to apply for same for such period preceding the Closing Date.
Sample 1

Related to Employee Retention Credit

  • Employee Retention A. In the event there is modification of programs and services for financial reasons, the number of employees which is required to implement the modified educational programs and services shall be determined as provided in this Article.

  • Employee Participants 2.01 ELIGIBILITY.

  • Group Benefits To determine if a leave under the provisions of the Family and Medical Leave Act will be a paid or unpaid leave, contact the District’s Human Resources Department.

  • Employee Release 18.1 Employees with 5 years continuous service with the current employer may apply for a one-off continuous period of unpaid Employee Release for a period of three months up to a maximum of twelve months. Such application shall be considered on a case-by-case basis and granted at the discretion of the employer. There will be no right of review. All service related provisions/ benefits will be put on hold until resumption of normal duties.

  • Benefits; Vacation Employee shall be eligible to receive all benefits as are available to similarly situated employees of Employer generally, and any other benefits that Employer may, in its sole discretion, elect to grant to Employee from time to time. In addition, Employee shall be entitled to four (4) weeks paid vacation per year, which shall be pro-rated for the first partial year of employment and shall accrue in accordance with Employer’s policies applicable to similarly situated employees of Employer.

  • Employee Relations Neither the Company nor any of its subsidiaries is involved in any labor dispute nor, to the knowledge of the Company or any of its subsidiaries, is any such dispute threatened. None of the Company's or its subsidiaries' employees is a member of a union and the Company and its subsidiaries believe that their relations with their employees are good.

  • Post-Employment Benefits A. If Employee's employment is terminated by ARAMARK for any reason other than Cause, Employee shall be entitled to the following post-employment benefits:

  • Benefit Continuation You and your then eligible dependents shall continue to be covered by and participate in the group health and dental care plans (collectively, “Health Plans”) of the Company (at the Company’s cost) in which you participated, or were eligible to participate, immediately prior to the Date of Termination through the end of the Benefit Continuation Period; provided, however, that any medical or dental welfare benefit otherwise receivable by you hereunder shall be reduced to the extent that you become covered under a group health or dental care plan providing comparable medical and health benefits. You shall be eligible to participate in such Health Plans on terms that are at least as favorable as those in effect immediately prior to the Date of Termination. However, in the event that the terms of the Company’s Health Plans do not permit you to participate in those plans (other than pursuant to an election under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”)), in lieu of your and your eligible dependent’s coverage and participation under the Company’s Health Plans, the Company shall pay to you within fifteen (15) calendar days after the effective date of the Waiver and Release a lump sum equal to two (2) times your monthly COBRA premium amount for the number of months remaining in the Benefit Continuation Period. In addition, for the purposes of coverage under COBRA, your COBRA event date will be the date of loss of coverage described in this paragraph above.

  • Retiree Medical Benefits If Executive is or would become fifty-five (55) or older and Executive's age and service equal sixty-five (65) and Executive has at least five (5) years of service with the Company within two (2) years of Change in Control, Executive is eligible for retiree medical benefits (as such are determined immediately prior to Change in Control). Executive is eligible to commence receiving such retiree medical benefits based on the terms and conditions of the applicable plans in effect immediately prior to the Change in Control.

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