LTD Employee definition

LTD Employee means any individual who is receiving long term disability benefits or long term income replacement benefits from any Heritage Company or a member of their respective Groups or is otherwise treated by any such entity as being on long term sick leave or disability status under the applicable Law in the applicable jurisdiction.

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LTD Employee means any employee of (i) a Transferred Entity or (ii) Parent or any of its Subsidiaries who is primarily engaged to provide services to the Business, in each case, who is, immediately before the Closing, on a leave of absence from Parent or one of its Subsidiaries (including the Transferred Entities) and receiving benefits under Parent’s long-term disability plan.

LTD Employee means each Business Employee on Leave who is receiving, or is receiving short-term disability benefits and is reasonably likely to receive, long-term disability benefits under a Seller Company Plan that is not maintained by a Business Company.

Examples of LTD Employee in a sentence

• The Employer shall contract for a long term disability plan, as provided in the current LTD Employee Benefit Booklet.

• The Parties hereto agree that none of the transactions contemplated by the Separation Agreement or any of the Ancillary Agreements, including this Agreement, shall result in any SpinCo Employee, SpinCo LTD Employee or Former SpinCo Employee being deemed to have incurred a termination of employment or being eligible to receive severance benefits, solely as a result of the Distribution.

• For the avoidance of doubt, other than the benefits provided under any Honeywell LTD Plan to any SpinCo LTD Employee, all Liabilities with respect to SpinCo LTD Employees (including, without limitation, any Liabilities arising out of any such SpinCo LTD Employee ceasing to participate in, or receive benefits under, any Honeywell LTD Plan for any reason) shall be treated as a Liability of SpinCo and the SpinCo Group in accordance with Section 2.05.

• The obligations under this Agreement of the Party that will become the employer (directly or indirectly) of a Returning LTD Employee that would otherwise commence on the MatCo Distribution Date or AgCo Distribution Date shall not commence until the Return from LTD Date, and, for the avoidance of doubt, such delay shall not constitute a breach of obligations under Section 1.04.

• Effective as of the Closing Date, Buyer shall assume and be responsible for all Liabilities of Seller and its Affiliates to provide post-retirement health, dental and life insurance benefits to any Employee, LTD Employee or Former Employee, whether such benefits are currently being paid or are to be paid in the future.

More Definitions of LTD Employee

LTD Employee has the meaning set forth in Section 10.1(f)(iv).

LTD Employee means each Employee who is, immediately before the Closing, on a leave of absence from the Purchased Companies and receiving benefits under a long-term disability plan sponsored by Seller or an Affiliate thereof.

LTD Employee means a “Save-A-Lot LTD Employee” (as defined in the Separation Agreement).

LTD Employee means an individual who is, immediately before the Closing, on a leave of absence from one of the Transferred Companies (or from any member of the Parent Group listed on S ection 6.1(a) of the Seller Disclosure Schedule if such individual was primarily engaged in rendering services in respect of the Business immediately prior to such leave of absence) and receiving benefits under Parent’s long-term disability plan.

LTD Employee means each Business Employee who is receiving (i) long-term disability benefits as of the Closing Date or (ii) short-term disability benefits as of the Closing Date that are expected to continue for more than six months from the commencement of such benefits (as determined in good faith by Seller consistent with past practice), in the case of each of clauses (i) and (ii), pursuant to a Seller Benefit Plan.

LTD Employee means an individual who is, immediately before the Closing, on a leave of absence from one of the Transferred Companies (or from any member of the Parent Group listed on Section 6.1(a) of the Seller Disclosure Schedule if such individual was primarily engaged in rendering services in respect of the Business immediately prior to such leave of absence) and receiving benefits under Parent’s long-term disability plan.

LTD Employee has the meaning set forth in Section 5.7(k).