Economic Equivalent definition

Economic Equivalent or "Economic Equivalence" shall have the meaning set forth in Section 1.23(f) hereof.
Sample 1Sample 2Sample 3
Economic Equivalent means the cost the Employee would incur if he were to provide himself with a benefit comparable to the reduced or eliminated benefit. The amount paid to the Employee as the economic equivalent, less the amount of the premium payment which is the Employee's responsibility in accordance with the Company benefit plan, will be "grossed-up", if taxable (that is, the amount necessary to make the Employee whole after taking into account (i) the cost of the benefit and (ii) additional income taxes, if any, incurred by the employee on amounts paid to him pursuant to this sentence)). The foregoing notwithstanding, upon a termination triggering Severance Compensation payments hereunder the Company shall be under no obligation to continue the Employee's coverage under any long term disability plan or program; and the date of such termination shall be considered a termination for purposes of participation in the Company's Retirement Savings Plan. Except as specifically set forth in this Section 5.4, the Employee shall not be entitled to any other compensation or benefits following a termination of employment by the Company as provided in this Section 5.4.
Sample 1Sample 2Sample 3
Economic Equivalent means the cost of the premiums paid by the Company for the insurance coverage provided to Employee by the Company during the 12 consecutive month period prior to such termination. Any such continuing insurance coverage, or economic equivalent thereof, will be offset by comparable coverage to Employee in connection with subsequent employment, if any. Other rights and benefits of Employee under employee benefit plans and programs of the Company, generally, will be determined in accordance with the terms and provisions of such plans and programs.
Sample 1Sample 2Sample 3

Examples of Economic Equivalent in a sentence

  • Such adjustment or modification shall result in the same, or the Economic Equivalent (as determined below) of the adjustment or modification as that made to the Parent Common Shares and shall simultaneously be made to, or in the rights of the holders of, the Exchangeable Shares.

  • The Board of Directors shall determine, in good faith and in its sole discretion (with the assistance of such reputable and qualified independent financial advisors and/or other experts as the Board of Directors may require) what is the "Economic Equivalent" for the purposes these Exchangeable Share provisions and each such determination shall be conclusive and binding.

  • The Board of Directors shall determine, in good faith and in its sole discretion (with the assistance of such reputable and qualified independent financial advisors and/or other experts as the board may require), what is the Economic Equivalent for the purposes of any event referred to in this subsection III 4.


More Definitions of Economic Equivalent

Economic Equivalent has the meaning provided in Section 3.2 hereof.
Sample 1Sample 2
Economic Equivalent means the cost the Employee would incur if he were to provide himself with a benefit comparable to the reduced or eliminated benefit. The amount paid the Employee to provide the economic equivalent will be "grossed-up" (that is, the amount necessary to make the Employee whole after taking into account (i) the cost of the benefit and (ii) additional income taxes, if any, incurred by the employee on amounts paid to him pursuant to this sentence). The foregoing notwithstanding, upon a termination triggering Severance Compensation payments hereunder the Company shall be under no obligation to continue the Employee's coverage under any long term disability plan or program; and the date of such termination shall be considered a termination for purposes of participation in the Company's Retirement Savings Plan. In addition to the foregoing, the Employee shall be entitled to (i) one "annual" executive physical during the Severance Compensation period in accordance with the normal schedule for annual physicals and (ii) payment for accrued but unused vacation through the date of such termination payable within 30 days and based on his annual base salary in effect as of such date, and the Company at its expense shall retain an outplacement organization to provide the following services to the Employee during the period for which Severance Compensation is paid hereunder: psychological and skills/preference testing and counseling; career assessment and objectives counseling; assessment/interview training; resume and cover letter preparation; network training; financial planning and counseling; the use of an office and a telephone and secretarial assistance; and such other outplacement services typical for persons in senior executive positions. Except as specifically set forth in this Section 5.4, the Employee shall not be entitled to any other compensation or benefits, and shall not be deemed an employee of the Company for any purpose, following a termination of employment by the Company as provided in this Section 5.4.
Sample 1
Economic Equivalent has the meaning ascribed thereto in the Exchangeable Share Provisions.
Sample 1
Economic Equivalent means the cost the Employee would incur if he were to provide himself with a benefit comparable to the reduced or eliminated benefit. The amount paid the Employee to provide the economic equivalent will be "grossed-up" (that is, the amount necessary to make the Employee whole after taking into account (i) the cost of the benefit and (ii) additional income taxes, if any, incurred by the employee on amounts paid to him pursuant to this sentence). The foregoing notwithstanding, upon a termination triggering Severance Compensation payments hereunder the Company shall be under no obligation to continue the Employee's coverage under any long term disability plan or program; and the date of such termination shall be considered a termination for purposes of participation in the Company's Retirement Savings Plan.
Sample 1
Economic Equivalent has the meaning ascribed thereto in the Convertible Voting Share Provisions and the Exchangeable Share Provisions.
Sample 1
Economic Equivalent means the amount the Company would have paid for such coverage for each employee covered if the Company could purchase such coverage or add the Employee to the Company's plans. In order to obtain the Benefits, the Employee will have to pay the amount that would be the Employee's responsibility if he was still employed. The amount paid to the Employee as the Economic Equivalent, less the amount of the premium payment which is the Employee's responsibility in accordance with the Company benefit plan, will be "grossed-up", if taxable (that is, the amount necessary to make the Employee whole after taking into account (i) the cost of the benefit and (ii) additional income taxes, if any, incurred by the Employee on amounts paid to him pursuant to this paragraph). Should the Employee find employment with another employer ("New Employer") that typically provides Benefits to its employees, the Company will cease providing Benefits or the Economic Equivalent. If the Employee ceases employment with the New Employer and has no Benefits or Economic Equivalent from the New Employer, the Employee must immediately notify the Company and the Company shall again provide Benefits or the Economic Equivalent until the Employee reaches age 65.
Sample 1

Related to Economic Equivalent

  • Generic Equivalent or "generically equivalent" means a drug that has an identical amount of the same active chemical ingredients in the same dosage form, that meets applicable standards of strength, quality and purity according to the United States pharmacopeia or other nationally recognized compendium and that, if administered in the same amounts, will provide comparable therapeutic effects. Generic equivalent or generically equivalent does not include a drug that is listed by the federal food and drug administration as having unresolved bioequivalence concerns according to the administration's most recent publication of approved drug products with therapeutic equivalence evaluations.

  • Therapeutic Equivalent means that a Covered Drug can be expected to produce essentially the same therapeutic outcome and toxicity.

  • Economic Life means the number of years a property improvement is expected to be in service in a facility.

  • Aggregate Industry Equivalent Unit Score is then calculated for each S&P Industry Classification, shown on Schedule 2, and is equal to the sum of the Equivalent Unit Scores for each issuer in such industry classification group.

  • Economic loss means any of the following types of pecuniary harm:

  • Common Unit Economic Balance means (i) the Capital Account balance of the General Partner, plus the amount of the General Partner’s share of any Partner Minimum Gain or Partnership Minimum Gain, in either case to the extent attributable to the General Partner’s ownership of Partnership Common Units and computed on a hypothetical basis after taking into account all allocations through the date on which any allocation is made under Section 6.2.D hereof, divided by (ii) the number of the General Partner’s Partnership Common Units.

  • Spousal equivalent means a cohabitant occupying a relationship generally equivalent to that of a spouse.

  • Economic Value – means the value of the Company and of its shares, to be determined by a specialized company by using a recognized methodology or based on another criterion to be defined by the CVM.

  • OP Unit Economic Balance has the meaning set forth in Section 6.03(c) hereof.

  • Economic Value Added or "EVA" means the NOPAT that remains after subtracting the Capital Charge, expressed as follows:

  • Economic Capital Account Balances has the meaning set forth in Section 5.01(g) hereof.

  • Therapeutically equivalent means a drug product with the same efficacy and toxicity when administered to an individual as the originally prescribed drug as provided for in Section 39‑24‑40.

  • Economic Capital Account Balance has the meaning provided in Section 5.1(e) hereof.

  • Ordinary Shares Equivalents means any securities of the Company or the Subsidiaries which would entitle the holder thereof to acquire at any time Ordinary Shares, including, without limitation, any debt, preferred stock, right, option, warrant or other instrument that is at any time convertible into or exercisable or exchangeable for, or otherwise entitles the holder thereof to receive, Ordinary Shares.

  • Sterling Equivalent means at the time of determination thereof (a) with respect to Sterling, the amount in Sterling and (b) with respect to any amount in Dollars, the equivalent of such amount in Sterling determined by Administrative Agent at such time on the basis of the Exchange Rate for the purchase of Sterling with Dollars on the most recent Computation Date provided for in Section 2.8(a).