VRP Termination Payments definition

VRP Termination Payments mean an amount equal to the aggregate sum, not to exceed the amount listed on Schedule 2.3(b)(iii), of all bonuses and similar payments to be paid to the individuals listed on Schedule 2.3(b)(iii), including applicable payroll withholdings, plus the employer portion of any Taxes related thereto, in connection with the transactions contemplated by this Agreement.
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Examples of VRP Termination Payments in a sentence

  • The aggregate amount of employer Taxes related to the VRP Termination Payments will have been accurately calculated in accordance with all applicable federal, state and local Law.

  • Claims shall be further subject to the provisions of Section 7.6; provided, however, that when all VRP Termination and Release Agreements have been obtained and, if applicable, all Claims related to the VRP Termination Payments have been fully and finally settled, any funds remaining in the VRP Holdback shall be distributed to the Stockholders on a pro rata basis.

  • Prior to the Closing, the Company shall determine the amounts that the individuals set forth on Schedule 2.3(b)(iii) are to receive as VRP Termination Payments and any conditions to be satisfied by such individuals in connection therewith.

  • The Financial Statements have been prepared from the books and records of the Company, which accurately and fairly reflect the transactions of, acquisitions, and dispositions of assets by, and incurrence of liabilities by the Company; provided that the September 30, 2006, financial statements may not reflect accruals for the VRP Termination Payments or the Special Closing Bonus Payments.

  • This updated Schedule 2.3(b)(iii) also shall list the employer portion of Taxes related to the payment of the VRP Termination Payments.