Accrued Vacation Amount definition

Accrued Vacation Amount means the amount of compensation, including the employer’s portion of any associated payroll Taxes, with respect to the accrued and unused vacation days that is accrued on the account of a Transferring Employee from his or her respective employer as of the Closing Date, to be calculated in accordance with the Calculation Principles.

Accrued Vacation Amount means all compensation payable to Executive following his Termination for accrued but unused vacation days determined in accordance with Company's vacation policy.

Accrued Vacation Amount means, at any given time, (x) (i) the amount of compensation with respect to the accrued and unused vacation (including all Taxes required to be withheld on behalf of the applicable Transferred Employee by his or her respective employer but excluding employer Taxes) that is due and owing (and not yet actually paid) with respect to the Transferred Employees (other than Share Transfer Employees but including, for purposes of this clause, Loaned Employees) from their respective employer, (ii) in respect of Transferred Employees located in India, the amount specified on Section 7.1.2(c)(v) of the Sellers Disclosure Schedule in respect of gratuity payments, and (iii) in respect of Transferred Employees in Australia, the amount specified in Section 7.1.2(c)(v) of the Sellers Disclosure Schedule in respect of the long service leave and sick leave, in each case to be calculated in accordance with the Calculation Principles, plus, in the case of (i), (ii) and (iii), the aggregate amount of employer Taxes required to be paid in connection with such amounts; less (y) when calculating the Estimated Closing Accrued Vacation Amount, the amount of cash to be deposited in the Accrued Cash-Out Vacation Escrow Account and, when calculating the Closing Accrued Vacation Amount, the portion of the accrued but unused vacation amount that is owed to the Transferred Employees as of the Closing Date listed on Section 2.2.8 of the Sellers Disclosure Schedule that is actually paid by the Sellers to such Transferred Employees on or after the Closing Date and before the Accrued Vacation Amount Final Payment Date, together with any employer Taxes thereon that are timely paid to appropriate Government Entities in connection therewith.

Examples of Accrued Vacation Amount in a sentence

• Any positive balance remaining in the Accrued Cash-Out Vacation Escrow Account giving effect to any distributions therefrom made or required to be made as a result of certifications submitted by the Sellers on or before the Accrued Vacation Amount Final Payment Date shall be transferred to the Purchase Price Adjustment Escrow Account, added to the Purchase Price Adjustment Escrow Amount and applied as provided in Section 2.2.4.

• Xxxxxxxx will pay to each Transferred Employee (including Partners, if applicable) in their final paycheck an amount equal to their respective base salary, contractually guaranteed bonuses, and vacation accrued for the period through and including the Employment Effective Date (the "Accrued Compensation"), irrespective of whether such amounts exceed the Accrued Vacation Amount.

• Buyer shall have tendered the Purchase Price, the Prepaid Sales Tax Amount and the Accrued Vacation Amount to Seller pursuant to ARTICLE II and have assumed all the Assumed Liabilities at the Closing.

• As of two (2) days prior to the Closing Date, Schedule 7.7 will accurately reflect all vacation and paid time off days accrued or earned, but not yet taken, by each Transferred Employee and all components of the Closing Accrued Vacation Amount.

• In addition to the Termination Payment, upon termination of employment the Employee shall receive the Accrued Vacation Amount, plus redemption of all vacation days lawfully accrued and unused after the Determining Date through the effective termination date and any outstanding recuperating pay (if any) pursuant to Section 6.3, all paid in a lump sum on or about the effective termination date.

More Definitions of Accrued Vacation Amount

Accrued Vacation Amount means, with respect to each Active Employee, the amount of cash (including employer-related withholding and payroll Taxes associated therewith) equal to up to forty (40) accrued vacation hours as of the Closing Date, as determined on a basis consistent with the Seller’s past accounting practices.

Accrued Vacation Amount means the total amount of accrued vacation for those employees of Seller who become employees of Acquisition Sub immediately following the Closing, as shown on the balance sheet delivered by Seller at Closing; provided, however that for the purposes of the Agreement (and for no other purpose), the maximum amount of accrued vacation included in the “Accrued Vacation Amount” for any individual employee shall be no more than: (i) 25 days, for those employees who have been employed with Seller for more than 4 years; (ii) 20 days, for those employees who have been employed with Seller for more than 3 years but less than 4 years; and (iii) 15 days for those employees who have been employed for less than 3 years.

Accrued Vacation Amount means the aggregate dollar amount attributable to all unpaid or unused “paid time off” accrued with respect to employees of the Company or of any P.C. as of the Closing Date which shall be determined, on an employee-by-employee basis, by multiplying the number of days of accrued and unpaid or unused paid time off for each such employee by such employee’s daily base salary as of immediately prior to the Closing Date.

Accrued Vacation Amount means the amount accrued by Seller in compliance with Seller's vacation policy, through the date immediately preceding the Closing Date, for vacation time with respect to employees of Seller whom Purchaser has employed.

Accrued Vacation Amount means the amount of accrued but unused vacation for each of the employees set forth on Schedule 8.2(a) but only to the extent of the dollar amounts set forth on such schedule.

Accrued Vacation Amount means the amount of compensation with respect to the accrued and unused vacation with respect to each Specified Transferred Employee (including all Taxes required to be withheld on behalf of the applicable Specified Transferred Employee by his or her respective employer) calculated by taking, with respect to each such employee an amount equal to (i) the product of (A) a number (not less than zero) of such employee’s accrued and unused vacation hours as of the Closing Date as set forth on Section 7.1.2(c)(iii) of the Sellers Disclosure Schedule of this Agreement for Specified Transferred Employees and (B) such employee’s hourly rate of pay (with such hourly rate of pay derived by dividing such employee’s annual base salary set forth on Section 4.11(b) of the Sellers Disclosure Schedule by the number of standard work hours per year for such employee).

Accrued Vacation Amount means compensation for accrued but unused vacation days determined in accordance with the Company’s vacation policy.