SpinCo Employee definition

SpinCo Employee has the meaning set forth in the Employee Matters Agreement.

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SpinCo Employee means any individual who, immediately following the Distribution Date, will be employed by Spinco or any member of the Spinco Group in a capacity considered by Spinco to be common law employment, including active employees and employees on vacation and approved leaves of absence (including maternity, paternity, family, sick, short-term or long-term disability leave, qualified military service under the Uniformed Services Employment and Reemployment Rights Act of 1994, and leave under the Family Medical Leave Act and other approved leaves).

SpinCo Employee means an employee of Spinco or any Spinco Affiliate immediately after the Distribution.

Examples of SpinCo Employee in a sentence

• Such actions may include, for example, permitting a SpinCo Employee to continue to make scheduled loan payments to the RemainCo 401(k) Plan after the Distribution, but before the RemainCo 401(k) Plan Assets and Liabilities are transferred to the SpinCo 401(k) Plan, and adopting administrative procedures to facilitate such loan payments.

• Each SpinCo Employee who is not a participant in a RemainCo 401(k) Plan immediately prior to the Distribution Date shall be permitted to enroll in the applicable SpinCo 401(k) Plan on or after the Distribution Date in accordance with the terms of such applicable SpinCo 401(k) Plan.

• Unless the SpinCo Employee affirmatively elects otherwise, the SpinCo Nonqualified Deferred Compensation Plan will include the same beneficiary designations that were in effect immediately prior to the Distribution Date with respect to such SpinCo Employee under the RemainCo Nonqualified Deferred Compensation Plan.

• 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 or Former SpinCo Employee incurring or being deemed to have incurred a termination of employment or being eligible to receive severance benefits, solely as a result of the Distribution.

• In the event that a SpinCo Employee becomes eligible to receive continuation health coverage pursuant to COBRA following the applicable Welfare Plan Date, SpinCo and the SpinCo Welfare Plans shall be responsible for provision of COBRA coverage and all COBRA-related Liabilities to such SpinCo Employee (or his or her eligible dependents) in respect of COBRA.

More Definitions of SpinCo Employee

SpinCo Employee shall have the meaning specified in Section 4.12(a).

SpinCo Employee means any person employed or formerly employed by any Spinco Entity at the time of the exercise, vesting, settlement, disqualifying disposition or payment, as appropriate, unless, at such time, such person is employed by a member of the GGP Group or was more recently employed by a GGP Entity than by a Spinco Entity;

SpinCo Employee means, as of any applicable date, (a) each individual who is an employee of the SpinCo Group as of immediately prior to the Distribution, including any individual who is not actively at work due to a leave of absence (including vacation, holiday, illness, injury, short-term disability but excluding, until such time as provided in ARTICLE 7, any SpinCo LTD Employee) from which such employee is permitted to return to active employment in accordance with the SpinCo Group’s personnel policies, as in effect from time to time, or applicable Law, (b) each individual who becomes an active employee of the SpinCo Group following the Distribution, but, in each case of clause (a) or (b), excluding any Former SpinCo Employee, (c) each individual listed on Schedule 1.01(a) or listed in a Local Agreement as a SpinCo Employee and (d) each individual who, although deemed to be an employee of the Honeywell Group due to the Transfer of Undertakings because of such individual’s rendering of services pursuant to the TSA or otherwise, is intended by Honeywell to be a SpinCo Employee; provided, however, that, unless otherwise required by applicable Law, each individual listed on Schedule 1.01(b) or listed in a Local Agreement as a Honeywell Employee shall be a Honeywell Employee for all purposes of this Agreement.

SpinCo Employee means any individual who is employed by a member of the SpinCo Group on the Employee Transfer Date.

SpinCo Employee means, at the Distribution, any employee of SpinCo or a Subsidiary of SpinCo, as determined by Parent’s management.

SpinCo Employee means a TM Employee, Interval Employee, HSN Employee and/or Tree Employee as the context requires.

SpinCo Employee means (a) each individual who is an employee of any member of the SpinCo Group as of immediately prior to or on the applicable Local Transfer Date, including any individual who is not actively at work due to a leave of absence (including vacation, holiday, illness, injury, and short-term disability, but excluding, until such time as provided in ARTICLE 7, any SpinCo LTD Employee) from which such employee is permitted to return to active employment in accordance with the SpinCo Group’s personnel policies, as in effect from time to time, or applicable Law, (b) each individual who becomes an active employee of the SpinCo Group following the applicable Local Transfer Date but, in each case of clauses (a) and (b), excluding any Former SpinCo Employee, (c) each individual listed on Schedule 1.01(a) or listed in a Local Agreement as a SpinCo Employee, and (d) each individual who is intended by Nuance to be a SpinCo Employee; provided, however, that, unless otherwise required by applicable Law, each individual listed on Schedule 1.01(b) or listed in a Local Agreement as a Nuance Employee shall be a Nuance Employee for all purposes of this Agreement.