Shared Executives Sample Clauses

Shared Executives. For purposes of this Agreement, for so long as any executive is employed by both MSG Networks and Spinco, such executive shall be considered to be a Spinco Employee with respect to all amounts and awards outstanding as of the Distribution Date except for amounts and awards explicitly retained by MSG Networks in writing. With respect to all such awards, MSG Networks shall pay to Spinco an amount equal to (a) 33% of the liability accrued by MSG Networks with respect to such award as of the Distribution Date, and (b) 30% of all liability accrued by Spinco with respect to such award after the Distribution Date. Such payment shall be made as soon as reasonably practicable, but in any event within 30 days, following the date that Spinco pays out the applicable award to the executive.
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Shared Executives. For purposes of this Agreement, for so long as any executive is employed by both CVC and MSG, such executive shall be considered to be a CVC Employee with respect to all amounts and awards outstanding as of the Distribution Date. MSG shall not be responsible for any costs associated with any annual or long-term cash or equity incentive award outstanding as of the Distribution Date with respect to any such executive.
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Shared Executives. (i) For purposes of this Agreement, for so long as any executive is employed by both CVC and AMC, such executive shall be considered to be a CVC Employee with respect to all amounts and awards outstanding as of the Distribution Date. AMC shall not be responsible for any costs associated with any annual or long-term cash or equity incentive award outstanding as of the Distribution Date with respect to any such executive.
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Shared Executives. As of the Effective Time, the marketing and sales ----------------- executives of Intek listed on Exhibit C ("Shared Executives") shall allocate a --------- ----------------- specified percentage of their time to Company ("Spider Time"). The Shared ----------- Executives shall remain employees of Provider and thus shall be paid their salary by Provider and receive their benefits directly from Provider. Company shall reimburse Provider for the Shared Executives' out-of-pocket travel and entertainment expenses while performing work for Company, so long as those expenses and documentation thereof are in accordance with Company's policies as reported by Company to Provider from time to time. If Provider finds those policies unreasonable, Provider and Company will arrange for direct payment by Company of all expenses. By the twentieth (20/th/) day of each month, Provider shall send to Company an invoice for monthly aggregate charges for the Shared Executives ("Aggregate Charges") which shall equal one-twelfth (1/12) of the aggregate of each Shared Executive's fully loaded total annual cost of employment including salary, benefits and overhead (but excluding stock options or stock grants) to Provider multiplied by the Spider Time provided on Exhibit C. On a quarterly basis beginning January 1, 2000, Provider and Company --------- shall review the Spider Time and if the actual costs for salary, benefits and overhead on an aggregate basis for the Shared Executives are more or less than ten percent (10%) of the Allocated Charges, the Allocated Charges shall be appropriately adjusted to reflect the actual costs. Nothing in this Agreement requires the Company to retain any Shared Executives in the service of Intek or hire a person to perform the services of any Shared Executive who is no longer a Company Employee.
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Related to Shared Executives

  • New Employees a) The Employer agrees to acquaint new employees with the fact that a Union Agreement is in effect and with the conditions of employment set out in the Articles dealing with Union Security and Dues Check-Off.

  • Company Employees Each Party shall not, directly or indirectly solicit for employment, any employee of the other Party who has been directly involved in the performance of this Agreement during the Term and for one year after the earlier of the termination or expiration of this Agreement or the termination of such individual's employment, with the other Party. It shall not be a violation of this provision if any employee responds to a Party's general advertisement of an open position.

  • Termination of Employees Agent may in its discretion stop using any Retained Employee at any time during the Sale, subject to the conditions provided for herein. In the event that Agent desires to cease using any Retained Employee, Agent shall notify Merchant at least seven (7) days prior thereto, so that Merchant may coordinate the termination of such employee; provided, however, that, in the event that Agent determines to cease using an employee “for cause” (which shall consist of dishonesty, fraud or breach of employee duties), the seven (7) day notice period shall not apply, provided further, however, that Agent shall immediately notify Merchant of the basis for such “cause” so that Merchant can arrange for termination of such employee. From and after the date of this Agreement and until the Sale Termination Date, Merchant shall not transfer or dismiss Retained Employees except “for cause” without Agent’s prior consent. Notwithstanding the foregoing, Agent shall not have the right to terminate the actual employment of any Retained Employee, but rather may only cease using such employee in the Sale and paying any Expenses with respect to such employee.

  • Compensation of Employees Compensate its employees for services rendered at an hourly rate at least equal to the minimum hourly rate prescribed by any applicable federal or state law or regulation.

  • Project Employment 1. The Employer may appoint employees into project positions for which employment is contingent upon state, federal, local, grant, or other special funding of specific and of time-limited duration. The Employer will notify the employees, in writing, of the expected ending date of the project employment.

  • Status of Employees The employees involved in a job sharing arrangement will be classified as regular part-time and will be covered by the provisions of the applicable Collective Agreement.

  • New Employee 34.01(a) (i) Unless the Parties agree, in writing, to an extension of the probationary period, all Employees who work greater than twenty-four (24) hours per week shall be considered probationary for a period of up to three (3) calendar months following date of appointment to the University.

  • Shift Employees Employees who work rotating shift patterns or those who work qualifying shifts shall be entitled, on completion of 12 months employment on shift work, to up to an additional 5 days annual leave, based on the number of qualifying shifts worked. The entitlement will be calculated on the annual leave anniversary date. Qualifying shifts are defined as a shift which involves at least 2 hours work performed outside the hours of 8.00am to 5.00pm, excluding overtime. Number of qualifying shifts per annum Number of days additional leave per annum 121 or more 5 days 96 – 120 4 days 71 – 95 3 days 46 – 70 2 days 21 – 45 1 day

  • Employment of Employee (a) Except as provided in Sections 2(b), 2(c) and 2(d), nothing in this Agreement shall affect any right which Employee may otherwise have to terminate Employee’s employment, nor shall anything in this Agreement affect any right which the Company may have to terminate Employee’s employment at any time in any lawful manner.

  • Period of Employment The “Period of Employment” shall be a period of three (3) years commencing on the Effective Date and ending at the close of business on the third anniversary of the Effective Date (the “Termination Date”); provided, however, that this Agreement shall be automatically renewed, and the Period of Employment shall be automatically extended for one (1) additional year on the Termination Date and each anniversary of the Termination Date thereafter, unless either party gives written notice at least sixty (60) days prior to the expiration of the Period of Employment (including any renewal thereof) of such party’s desire to terminate the Period of Employment (such notice to be delivered in accordance with Section 18). The term “Period of Employment” shall include any extension thereof pursuant to the preceding sentence. Provision of notice that the Period of Employment shall not be extended or further extended, as the case may be, shall not constitute a breach of this Agreement and shall not constitute “Good Reason” for purposes of this Agreement. Notwithstanding the foregoing, the Period of Employment is subject to earlier termination as provided below in this Agreement.

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