PPDI definition
Examples of PPDI in a sentence
From the Effective Date until the Spin-Off is complete, during the Employment Period, Employee will be entitled to participate in the group health insurance and other benefits offered by PPDI and available to Company employees, subject to Employee meeting the eligibility requirements for such PPDI plans and benefits.
After the Spin-Off, during the Employment Period, Employee will no longer be entitled to participate in the PPDI plans and benefits, but will be entitled to participate in the Company’s plans and benefits as such plans and benefits are maintained from time to time by the Company, subject again to Employee meeting the applicable eligibility criteria therefor.
The parties further agree and acknowledge that Consultant’s duties hereunder may not interfere with or adversely affect Consultant’s duties and obligations to PPDI.
Consultant represents and warrants that his performance of all terms under this Agreement does not and will not breach any duty owed by him to PPDI or any other third party, under contract or otherwise, or violate any confidence of PPDI or any other third party.
While Consultant is engaged by the Company, the parties agree and acknowledge that Consultant will remain employed as the Executive Chairman of PPDI.
After the Spin-Off, during the Employment Period, Employee will no longer be entitled to participate in the PPDI plans and benefits, but will be entitled to participate in the Company’s plans and benefits as such plans and benefits are maintained from time to time by the Company, subject again to Employee meeting the applicable eligibility criteria therefor in accordance with her position as Senior Vice President-Research.
As provided on Exhibit A hereto, PPDI consents to Consultant’s engagement with the Company as set out herein.
Subject to the Company establishing and implementing the Cash Incentive Plan, the Company anticipates that the target bonus for Employee’s position in 2010 will be thirty-five percent (35%) of Employee’s Base Salary earned in that calendar year (including any base salary paid to Employee during employment with any other subsidiary of PPDI in 2010).
From the Effective Date until the Spin-Off is complete, during the Employment Period, Employee will continue to participate in any group health insurance and other benefits offered by PPDI and available to Company employees for which Employee is a current participant.
PPDI shall have the right to sublicense the -------------------------- License Technology.