KERP definition

KERP means the Nortel Networks Corporation Key Employee Retention Plan approved by the U.S. Bankruptcy Court in the District of Delaware by an order dated March 5, 2009, and approved by the Canadian Court on March 6, 2009, as the same may be amended, modified, supplemented or replaced from time to time.

KERP means the Debtors’ Key Employee Retention Plan, as approved by theOrder (I) Approving Key Employee Incentive Program and Key Employee Retention Program;(II) Authorizing Payments Thereunder; and (III) Granting Related Relief [Docket No. 235].

KERP means the Key Employee Retention Program and Severance Plan, as ---- approved by the Order, which consists of (i) a retention incentive plan, (ii) an emergence bonus plan and (iii) a severance plan.

Examples of KERP in a sentence

• The Applicant is seeking approval of the KERP and a corresponding KERP Charge in the maximum amount of $998,311 to secure the Retention Bonus payments under the KERP.

• In certain cases, the KERP Employees are also critical to the conduct of the SISP and restructuring efforts generally.

• If a transaction is consummated, the Retention Bonus will become payable to a KERP Employee, less applicable withholdings and deductions, on the closing date of a transaction, subject to the terms and conditions of the KERP Letter (as defined below).

• The Monitor does not believe that any stakeholder will be prejudiced if the information in the Confidential KERP Summary is sealed.

• The KERP was developed by the Applicants, with the assistance of the Monitor, to incentivize key employees to remain with the Applicants through the completion of a transaction.

More Definitions of KERP

KERP means that certain Key Employee Retention Plan adopted by IBC’s board of directors and approved by order of the Bankruptcy Court on February 17, 2005, as amended.

KERP means the Allied Holdings, Inc. Amended Severance Pay and Retention and Emergence Bonus Plan for Key Employees, as in effect from time to time.

KERP means the Key Employee Retention Plan, in the form approved by the Bankruptcy Court on June 5, 2014, with only such amendments, supplements, changes and modifications that are satisfactory to the Debtors and the Requisite Investors.

KERP means the Key Employee Retention Plan component of the Key Employee Retention Plan.

KERP means any key employee retention plan or similar proposal or documentation that would require Bankruptcy Court approval to make payments to non-“insiders” during the course of the chapter 11 cases.

KERP means the Company's Key Employee Retention Plan, as in effect from time to time, any successor thereto, or such other emergence bonus program as may be approved by the Bankruptcy Court.

KERP means the Key Employees Retention Plan approved by paragraph 24 of the Initial Order;