Transition Payment definition

Transition Payment means [***;]*

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Transition Payment has the meaning set forth in Section 5.18.

Transition Payment. The greater of (i) Employee's Adjusted Base Salary as ------------------ of the Termination Date and (ii) $500,000.

Examples of Transition Payment in a sentence

MCK shall pay the Transition Payment in twelve equally monthly installments of eighty three thousand, three hundred and thirty-three dollars and thirty-three cents ($83,333.33 starting the first day of the month following the Closing).
The Transition Payment is subject to the limitations in Subsections 7(c)(3)(A), 7(c)(3)(D), and 7(c)(3)(E) above.
In the event Executive terminates the Transition Services prior to the last day of the Transition Period, the Transition Payment shall be prorated on a daily basis and paid to Executive within five (5) business days after the date of termination.
It may only do so if the conditions of the Transition Payment Cost Deduction (Conditions) Decree are met.
A Transferred Employee will receive a Transition Payment from Exult Supplier provided that he is employed by Exult Supplier on the Transition Payment Date.

More Definitions of Transition Payment

Transition Payment is defined in Section 6.3(e).

Transition Payment has the meaning set forth in Section 1.2(b).

Transition Payment means [**].

Transition Payment. You will be paid a transition payment of $50,000 to cover incidental expenses related to your change of employment. Actual expenses will be reimbursed upon presentation of documentation, with the balance to be paid subject to applicable withholding within forty-five (45) days of your Start Date.

Transition Payment has the meaning specified in the Transition Plan.

Transition Payment has the meaning set forth in Section 1.2(b). “U.S.” means the United States of America. “U.S. Buyer” has the meaning set forth in the Preamble. “U.S. DOE” means the United States Department of Education. “U.S. DOE Pre-Acquisition Review Application” means that certain application filed with the U.S. DOE prior to the Closing for eligibility to participate in the federal student aid programs following the Institution’s change of ownership. “Working Capital Assets” means those accounts from the Financial Statements that are listed on the Model Statement under the heading “Working Capital Assets”. “Working Capital Escrow Funds” means an amount equal to two million two hundred and fifty thousand dollars ($2,250,000), to be used solely for any purchase price adjustments owing to the Buyers pursuant to Section 1.1(b)(ii). 55 “Working Capital Liabilities” means those accounts from the Financial Statements that are listed on the Model Statement under the heading “Working Capital Liabilities”. “Year-End 2009 Financial Statements” has the meaning set forth in Section 4.6(a).

Transition Payment means a monthly transition payment payable by us to the Provider in advance of a month in which Services will be provided during the transition period, as specified in Schedule H1. Transition Pool is described in clause H22.2. Uncontrollable Event means an event which is beyond the reasonable control of the party immediately affected by the event (including where we have failed to make due payment because of an event beyond our reasonable control). An Uncontrollable Event does not include any risk or event which the party claiming could have prevented or overcome by taking reasonable care. Unusual Clinical Circumstances has the same meaning given to it in the Pharmaceutical Schedule. Urgent Assessment has the same meaning given to it in the Pharmaceutical Schedule. Urgent Pharmacy means a Pharmacy which is established for the purpose of selling medicines at any time outside ordinary business hours and is not normally operated during ordinary business hours. Voluntary Variation means a variation to this Agreement described in clauses L2.1(a).