Retained Employee definition

Retained Employee does not include any individual who has a direct or an indirect ownership interest of at least five percent (5%) in the profits, equity, capital, or value of the Taxpayer, or a child, grandchild, parent, or spouse, other than a spouse who is legally separated from the individual, of any individual who has direct or indirect ownership interest of at least five percent (5%) of the profits, equity, capital or value of the Company.
Retained Employee means a Full-time Employee currently employed by the Company who continues to be employed during the term of this Agreement whose job duties are directly and substantially related to the Project. For purposes of this definition, “directly and substantially related to the Project” means at least two- thirds (2/3) of the employee’s job duties must be directly related to the Project and the employee must devote at least two-thirds (2/3) of his or her time to the Project. The term “Retained Employee” does not include any individual who has a direct or an indirect ownership interest of at least five percent (5%) in the profits, equity, capital, or value of the Taxpayer, or a child, grandchild, parent, or spouse, other than a spouse who is legally separated from the individual, of any individual who has direct or indirect ownership interest of at least five percent (5%) of the profits, equity, capital or value of the Company.
Retained Employee shall have the meaning set forth in Section 7.1(a).

Examples of Retained Employee in a sentence

  • Agent may in its discretion stop using any Retained Employee at any time during the Sale, subject to the conditions provided for herein.

  • Merchant shall not transfer any Retained Employee during the Sale Term without Agent’s prior consent.


More Definitions of Retained Employee

Retained Employee means a full-time employee employed by
Retained Employee means a Listed Employee who will not be an employee of a Transferred Company at Closing.
Retained Employee means any employee defined as having a full-
Retained Employee means each person who was an active or inactive employee (including any such employee who is on any leave of absence, whether paid or unpaid, including short-or-long term disability leave or workers' compensation leave) of the Company or any Company Subsidiary immediately prior to the Closing Date.
Retained Employee means any Employee other than a SpinCo Employee.
Retained Employee means a full-time employee employed by a taxpayer during the term of the agreement whose job duties are directly and substantially-related to the project. For purposes of this definition, "directly and substantially-related to the project" means at least two-thirds of the employee's job duties must be directly related to the project and the employee must devote at least two-thirds of his or her time to the project. The term "retained employee" does not include a child, grandchild, parent, or spouse, other than a spouse who is legally separated from the individua l, of any individual who has direct or indirect ownership interest of at least 5% in the profits, capital, or value of the taxpayer.
Retained Employee means a full-time employee employed by the Company prior to the term of the Agreement who continues to be employed during the term of the Agreement whose job duties are directly related to the Project. The term “retained employee” does not include any individual who has a direct or an indirect ownership interest of at least 5% in the profits, equity, capital, or value of the Company or a child, grandchild, parent, or spouse, other than a spouse who is legally separated from the individual, of any individual who has a direct or indirect ownership of at least 5% in the profits, equity, capital, or value of the Company.