Transferred Employee definition

Transferred Employee has the meaning set forth in Section 6.01(a).

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Transferred Employee shall have the meaning set forth in Section 11.1.

Transferred Employee has the meaning set forth in Section 4.12(b).

Examples of Transferred Employee in a sentence

• Within 60 days following the Closing Date, Seller or the applicable Seller Party shall pay to each Transferred Employee a pro-rated annual bonus with respect to the portion of Seller’s fiscal year in which the Closing Date occurs that elapses prior to the Closing Date (the “Seller Pro-Rata Bonus”), as described in the next sentence.

• At or prior to the Closing, Parent shall cause the Transferred Entity to pay to each Transferred Employee any accrued but unpaid cash incentive compensation (including sales commissions) payable under any Transferred Entity Benefit Plan or Parent Group Benefit Plan in effect as of Closing (“Cash Incentive Compensation”) for any fiscal year completed prior to the Closing.

• In addition, Section 7.4(h) of the Seller Disclosure Letter sets forth each Transferred Employee who holds a Seller equity or equity-based award, including the dollar-denominated value of each such award held by the Transferred Employee and the vesting schedule of each such award.

• In addition, for a period of at least one year immediately following the Closing, Buyer shall provide, or shall cause one of its Affiliates to provide, to each Transferred Employee severance protections and benefits that are at least as favorable as those provided to such Transferred Employee immediately before the Closing.

• Within five Business Days following the Closing, Buyer shall grant to each Transferred Employee set forth in Section 7.4(h) of the Seller Disclosure Letter a cash-based long-term incentive award with a value equal to the corresponding award value set forth in Section 7.4(h) of the Seller Disclosure Letter, and such award shall vest and be paid to the Transferred Employee in accordance with the terms and conditions set forth in Section 7.4(h) of the Seller Disclosure Letter.

More Definitions of Transferred Employee

Transferred Employee shall have the meaning ascribed to such term in Section 5.7(a).

Transferred Employee has the meaning set forth in Section 8.7(a)(i).

Transferred Employee means a person referred to in subclause (4) who, immediately before becoming a Commission employee, was employed for an indefinite period in the Public Service.

Transferred Employee means each Employee of the Business who, as of the Applicable Closing Date (or, if applicable, such later date that such employee commences employment with Buyer or one of its Affiliates), becomes an employee of Buyer or one of its Affiliates whether by operation of Law or by acceptance of Buyer’s or one of its Affiliate’s offer of employment pursuant to Section 8.01.

Transferred Employee means each Offered Employee who accepts an Employment Offer as provided in the preceding provisions of this Section 12.02 and who becomes employed by Oncor on or, if applicable, following the Closing Date in accordance with such Employment Offer.

Transferred Employee shall have the meaning set forth in Section 2.3 hereof.

Transferred Employee means each Business Employee who accepts employment with Purchaser or any of its subsidiaries as of the applicable Transfer Time and each Business Employee whose employment transfers from Seller or any of its subsidiaries to Purchaser by operation of Law (including through the Transferred Entity).