Group 4 Employee definition
Group 4 Employee means each Employee of Moon or its Subsidiaries who provided less than 50% of his or her services to the SpinCo Business during the Employee Reference Period but whom Moon nevertheless intends to be allocated to the SpinCo Business as a SpinCo Employee based on Moon’s analysis of FTE levels required for shared services.
Examples of Group 4 Employee in a sentence
Schedule 3.01(a) and the definition of Group 4 Employee shall not include any Employee who would otherwise qualify as a Group 4 Employee but who is scheduled for termination or has received the lowest performance rating with respect to any review period that ended during the twelve (12) month period ending on the Distribution Date.
Notwithstanding the immediately preceding sentence, the Company shall have delivered to Purchaser a Designated Severance Agreement with respect to each Group 1 Employee, Group 2 Employee, Group 3 Employee and Group 4 Employee who entered into a Change of Control Agreement with the Company prior to the date hereof, each such Designated Severance Agreement being executed by the Company and such employee.