Comparable Terms definition

Comparable Terms means the basic and working employment conditions of an individual as of Day One Of The Relevant Qualifying Period to which an individual would be entitled (including Pay, duration of working time, night work rest periods, rest breaks and annual leave) if they were employed or engaged directly by the Client (including any variations in those relevant terms and conditions made at any time after Day One Of The Relevant Qualifying Period);

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Comparable Terms means the basic working and employment conditions applicable as of Day One Of The Relevant Qualifying Period to which an individual would be entitled (including Pay, duration of working time, night work rest periods, rest breaks and annual leave) if they were employed or engaged directly by the Client (including any variations in those relevant terms and conditions made at any time after Day One Of The Relevant Qualifying Period);

Comparable Terms means: (a) base salary or wage rate; (b) bonus or incentive compensation opportunity; (c) pension, superannuation, retirement and/or supplementary retirement benefit; and (d) benefits, perquisites and other applicable terms and conditions of employment, including rights and other terms and conditions under the Employee Plans, that are in each case comparable to those that the proposed Transferred Employee was entitled to receive or participate in immediately prior to the applicable Asset Closing Date and are, in the aggregate, no less favourable to those that the proposed Transferred Employee was entitled to receive or participate in immediately prior to the applicable Asset Closing Date, provided, however, that, notwithstanding the foregoing, a proposed Transferred Employee who is eligible to participate in the defined benefit provision of an Employee Plan that is a pension plan prior to the applicable Asset Closing Date may be instead offered participation in a defined contribution provision for service on and following the applicable Asset Closing Date. For greater certainty, Comparable Terms does not mean that each individual component of the Offer is required to be the same or identical to each component of such proposed Transferred Employee’s existing terms of employment in effect immediately prior to the applicable Asset Closing Date (and, in particular, Comparable Terms does not mean that a proposed Transferred Employee who is eligible to participate in the defined benefit provision of an Employee Plan that is a pension plan prior to the applicable Asset Closing Date must be offered the ability to participate in a defined benefit provision on and after the applicable Asset Closing Date); however, the Offer must not provide such Transferred Employee with total compensation and benefits which are in the aggregate less favourable than such proposed Transferred Employee’s existing terms of employment in effect immediately prior to the Asset Closing Date.

Examples of Comparable Terms in a sentence

• Notwithstanding anything in this Agreement to the contrary, to the extent the Buyer does not offer fringe benefits on Comparable Terms to Other Non-U.S. Employees and Other Non-U.S. Contractors, Buyer shall offer to such persons the same fringe benefits provided to similarly situated employees or contractors of the Buyer or its Affiliates.

• For purposes of clarity, employees that are offered employment with Purchaser or the third party purchaser of the Core Assets on Comparable Terms (as defined in the Support Agreement) and who do not accept these employment terms will not be entitled to severance from the estate and (ii) any employee who accepts an offer of employment from Purchaser or a third party purchaser (whether or not on Comparable Terms) would not be entitled to severance from the estate.

• With respect to Continuing Employees in India, the Continuing Employees will be engaged on Comparable Terms without any interruption of service as a result of the transfer of Assets and the Buyer shall take into account the past service of the Continuing Employee with the Seller for the purpose of computing all employment benefits including accrued vacation or leave salary.

• On the Closing Date, the New Buyer Employees will be considered to have resigned from their employment with Seller, and Buyer shall thereafter, either directly or through one of its Affiliates, employ all such New Buyer Employees, for at least a period of three (3) months following the Closing Date (the “Retention Period”), on the Comparable Terms, except that Buyer may terminate any such New Buyer Employee for violations of law or gross misconduct.

• The Buyer shall immediately following the Closing, either directly or through one of its Affiliates, employ or engage all such Continuing Employees and Continuing Contractors on Comparable Terms (which includes, for the avoidance of doubt, crediting the Continuing Employees with vacation accrued prior to the Closing).

• In the event that the offering to such other Persons is not on Comparable Terms, or in the event that the offering to such other Persons is not consummated within such ninety (90)-day period, then the Company and USHG will again offer, or cause the issuer Corporation to again offer, the proposed Mezzanine Financing to the Purchasers in compliance with all of the provisions of this Section 6.12(a).

More Definitions of Comparable Terms

Comparable Terms means an offer of employment from the Buyer with:

Comparable Terms has the meaning set out in Section 9.3;

Comparable Terms means LICENSED PRODUCT that is(1) of (a) substantially similar shape and complexity, (b) substantially similar sizing, and (c) substantially equivalent or lesser purchase volume for custom or unique LICENSED PRODUCTS purchased by OWNER or (2) for stock, “off-the-shelf”, or catalog LICENSED PRODUCT that requires no package decoration, the LICENSED PRODUCTS without consideration of (a), (b), or (c) of this paragraph.