Retained Employee definition

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 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 employed by

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.

• Agent may in its discretion stop using any Retained Employee at any time during the Sale.

• Buyer will be responsible for any workers’ compensation obligations, if any, relating to injuries to the extent incurred by any Retained Employee on or after the Closing Date and any required premiums to applicable Governmental Authority insurance funds for workers’ compensation for all Retained Employees on and after the Closing Date.

• In the event of termination of any Retained Employee, Agent will use all reasonable efforts to notify Merchant at least five (5) days prior thereto, except for termination "for cause" (such as dishonesty, fraud or breach of employee duties), in which event no prior notice to Merchant shall be required, provided Agent shall notify Merchant as soon as practicable after such termination.

• The Liquidating Trust shall provide the Retained Employee Retention Tax Credit Accounting.

More Definitions of Retained Employee

Retained Employee shall have the meaning set forth in Section 7.1(a).

Retained Employee means any Employee other than a SpinCo Employee.

Retained Employee means a Listed Employee who will not be an employee of a Transferred Company at Closing.

Retained Employee means any individual (a) who, as of the Effective Time, (i) is actively employed by, or on an approved Leave of Absence or Layoff with Right of Recall from a member of the Parent Group, or (ii) had been primarily employed in the SpinCo Business or with respect to the SpinCo Assets and (b) whose employment Parent has determined not to transfer to SpinCo or a member of the SpinCo Group.

Retained Employee means any employee defined as having a full-

Retained Employee means any individual employed or formerly employed by Parent or any other member of the Parent Group who was primarily dedicated to the operation of the Retained Business. A list of Retained Employees as of the date hereof is listed on Schedule 1.3.

Retained Employee means either: (1) the definition