ERC Employee definition
ERC Employee means any Employee other than a Non-ERC Employee;
ERC Employee means any Employee represented by Employee Representative Counsel;
ERC Employee has the meaning set forth in Section 5.06(c) hereof.
Examples of ERC Employee in a sentence
Parent shall reimburse to Buyer as an adjustment to the Purchase Price, on a tax-effected basis, the amount, if any, by which the amount required to be paid by Buyer to such severed ERC Employee pursuant to Exhibit 5.06(e) exceeds the amount that Buyer would have paid such severed ERC Employee under Buyer’s current severance plan for such three (3) severed ERC Employees.
Buyer shall also cause each benefit plan of Buyer to waive any pre-existing condition that was covered or waived under the terms of any Benefit Plan immediately prior to the Effective Date or waiting period limitation that would otherwise be applicable to an ERC Employee on or after the Effective Date.