Excluded Benefits definition

Excluded Benefits means vacation days or vacation pay, sick days or sick leave, maternity leave or other leaves of absence, termination or severance pay, pension benefits, ERISA coverage and similar contributions, and payroll taxes, worker's compensation and benefits in excess of the percentage limitation provided in Section 4.1(b) above.

Excluded Benefits means any of the following—

Excluded Benefits referenced in this Part B means the aggregate amount of the benefits the Borrower has received, or is expecting to receive by December 31, 2020, in support or subsidies under any other Government of Canada COVID response program (“GOC COVID Response Programs”) including the ones listed at the end of this Attestation. For clarity, while the Canada Emergency Commercial Rent Assistance (“CECRA”) program is a GOC COVID Response Program, it is understood that: (i) if the Borrower is a commercial property owner, forgivable loan(s) received or to be received by such Borrower from the GOC pursuant to the CECRA program are not a benefit for the purpose of calculating the aggregate amount of Excluded Benefits; and (ii) if the Borrower is a commercial tenant, the aggregate reduction in such Borrower’s rental payments resulting from a property owner’s application for a forgivable loan pursuant to the CECRA program are a benefit for the purpose of calculating the aggregate amount of Excluded Benefits.

Examples of Excluded Benefits in a sentence

• The Normal Cost is equal to the prorated cost for the year of the valuation.Benefits Excluded Benefits related to retiree dental and life insurance have beenexcluded from this valuation.

• For the avoidance of doubt, notwithstanding the preceding sentence and anything in this Agreement to the contrary, the Spinco Group shall not assume, and Burgundy shall retain, indemnify and hold Grizzly and its Subsidiaries harmless against, the Excluded Benefits Liabilities.

• The employee benefits made available to the Executive, other than plans described in Section 2.2 and 2.3 and plans providing for benefits in the form of, or investments in, Company stock ("Excluded Benefits"), in the aggregate shall be at least comparable in value to the employee benefits (less the Excluded Benefits) made available to the Executive immediately prior to the Effective Date.

• In each case, base compensation and target cash incentive compensation opportunity (other than Excluded Benefits) will not be decreased for a period of one year following the Effective Time for any Continuing Employee employed during that period.

• Excluded Benefits may include small and limited one-off amounts paid as part of an annual salary review.

More Definitions of Excluded Benefits

Excluded Benefits has the meaning set forth in Section 6.7(a). Annex I - 6

Excluded Benefits means, with respect to each Retained Employee, (i) the following benefits arising or accruing prior to the Sale Commencement Date: (v) vacation days or vacation pay, (w) sick days or sick leave or any other form of paid time off, (x) maternity leave or other leaves of absence, termination or severance pay, and (y) ERISA coverage and similar contributions and/or (ii) any benefits in excess of the Benefits Cap, including any payments due under the Worker Adjustment Retraining Notification Act (“WARN Act”).

Excluded Benefits means benefits in excess of the Benefits Cap.

Excluded Benefits referenced in this Part means the aggregate amount of the benefits you have received, or are expecting to receive by December 31, 2020, in support or subsidies under any other GOC COVID response program (“GOC COVID Response Programs”) including the ones listed at the end of this Attestation. For clarity, while the Canada Emergency Commercial Rent Assistance (“CECRA”) program is a GOC COVID Response Program, it is understood that: (i) if you are a commercial property owner, forgivable loan(s) received or to be received by you from the GOC pursuant to the CECRA program are not a benefit for the purpose of calculating the aggregate amount of Excluded Benefits; and (ii) if you are a commercial tenant, the aggregate reduction in your rental payments resulting from a property owner’s application for a forgivable loan pursuant to the CECRA program are a benefit for the purpose of calculating the aggregate amount of Excluded Benefits.

Excluded Benefits has the meaning set forth in Section 7.1(a).

Excluded Benefits referenced in this Part B means the aggregate amount of the benefits the Borrower has received, or is expecting to receive by December 31, 2020, in support or subsidies under any other Government of Canada COVID response program (“GOC COVID Response Programs”) including the ones listed at the end of this Attestation. For clarity, while the Canada Emergency Commercial Rent Assistance (“CECRA”) program is a GOC COVID Response Program, it is understood that: (i) if the Borrower is a commercial property owner, forgivable loan(s) received or to be received by such Borrower from the GOC pursuant to the CECRA program are

Excluded Benefits referenced in this Part means the aggregate amount of the benefits you have received, or are expecting to receive by December 31, 2020, in support or subsidies under any other GOC COVID response program (“GOC COVID Response Programs”) including the ones listed at the end of this Attestation.