Accrued Vacation Days definition

Accrued Vacation Days shall have the meaning set forth in Section 5.14(g)(i).
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Accrued Vacation Days has the meaning set forth in Section 4.4(l).
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Accrued Vacation Days means any vacation days and paid time off days accrued but not yet taken by any Transferred Employee as of the Closing Date with respect to the calendar year in which the Closing Date occurs or with respect to any prior calendar year. In the event that any Transferred Employee is entitled under applicable Law or any policy of Seller or any Asset Selling Corporation to be paid for any Accrued Vacation Days in connection with the Closing, Seller shall, or shall cause an Asset Selling Corporation to, pay any such required amounts to such Transferred Employee (the “Seller Vacation Payment”). As of the Effective Time, Buyer or a Buyer Corporation shall assume and honor all the Accrued Vacation Days for which payout is not made pursuant to the immediately preceding sentence (it being understood that Buyer or a Buyer Corporation may deduct from the number of vacation days and paid time off days made available to any such Transferred Employee the number of days of vacation or paid time off previously taken by such Transferred Employee in the applicable calendar year). Within forty (40) days following the Closing Date, Seller shall provide to Buyer a schedule setting forth the aggregate amount of the Seller Vacation Payment. Buyer shall reimburse Seller for the aggregate amount of the Seller Vacation Payment as soon as administratively practicable but in any event no later than forty (40) days following delivery of such schedule. If there is a dispute as to the amount to be reimbursed, the dispute shall be resolved using the dispute resolution procedure in subsections 2.3(c), (d) and (e), mutatis mutandi.
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Examples of Accrued Vacation Days in a sentence

  • To the extent that a Transferred Employee is entitled under applicable Law to be paid for any Accrued Vacation Days in connection with the Closing, the applicable Buyer and its Affiliates shall pay any such required amounts to such Transferred Employee that are included as an “other current liability” in the calculation of the Final Closing True-Up Amount.

  • Effective as of the Effective Time, Parent shall, and shall cause the Parent Subsidiaries to, honor all the Accrued Vacation Days for which payout is not made pursuant to the immediately preceding sentence.

  • In addition, Executive shall be entitled to carryover and use, prior to January 1, 2003, any accrued but unused vacation days earned at Hess as of the Employment Date ("Accrued Vacation Days").

  • Executive acknowledges that he is receiving payment from Hess in respect of such Accrued Vacation Days and that to the extent he does not use such days prior to January 1, 2003, he shall not be entitled to carryover such days or receive payment from the Company for such days.

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  • Accrued Vacation Days shall be redeemed and paid for by Company only upon termination of Employee’s employment, up to twice (x2) the Vacation Days.

  • To the extent that a Transferred Employee is entitled under any applicable Law or any policy of Seller or any of its subsidiaries to be paid for any 2008 Accrued Vacation Days, Purchaser shall assume the liability for such vacation days and Purchaser shall indemnify Seller and its subsidiaries for any payments required to be made by Seller or any of its subsidiaries in respect of the 2008 Accrued Vacation Days.

  • In the event that a Transferred Group Member Employee is entitled under applicable Law to be paid, in connection with the Closing, for any Accrued Vacation Days then to the extent any such amounts are paid by Parent or any Parent Subsidiary (other than any Transferred Group Member), Parent or the applicable Parent Subsidiary shall be entitled to indemnification pursuant to Section 11.04(a).

  • For any non-bargaining unit Transferred Employee who works in a location other than California, Transferor shall pay such Transferred Employee promptly, but in no event more than 30 days following the Closing Date, for any vacation days and paid time off days accrued but not yet taken by the Transferred Employee as of the Closing Date (the “ Accrued Vacation Days ”) that is in excess of such Transferred Employee’s Annual Vacation Accrual.

  • The Company will reimburse Executive for the Accrued Vacation Days in an amount equal to $525,000 multiplied by a fraction the numerator of which is the Accrued Vacation Days and the denominator of which is 260.


More Definitions of Accrued Vacation Days

Accrued Vacation Days shall have the meaning given to such term in Section 8.05(f).
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Accrued Vacation Days means, with respect to each Transferred Employee, such Transferred Employee’s accrued but unused vacation as of the Closing Date. To the extent that a Transferred Employee is entitled under any applicable Law or any policy of Seller or any of its subsidiaries to be paid for any Accrued Vacation Days, Purchaser shall assume the liability for such vacation days and Purchaser shall indemnify Seller and its subsidiaries for any payments required to be made by Seller or any of its subsidiaries in respect of the Accrued Vacation Days to the extent such Liability is included on the Closing Date Statement (as finally determined in accordance with Section 2.03(c)).
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Related to Accrued Vacation Days

  • Vacation means annual vacation with pay.

  • Vacation Year means the twelve (12) month period commencing on the first (1st) day of April in each calendar year and concluding on the thirty-first (31st) day of March of the following calendar year.

  • Weeks Pay' means the ordinary time rate of pay for the employee concerned:

  • Accrued Base Salary means the amount of Executive's Base Salary which is accrued but not yet paid as of the Date of Termination.

  • Accrued Bonus means the bonus, which may be negative or positive, which is calculated in the manner set forth in Section V.A.

  • Employment Year means each twelve-month period, or part thereof, during which Employee is employed hereunder, commencing on the Commencement Date and on the same day of the subsequent calendar year and each consecutive 12 month period thereafter.

  • Bonus Period means the period for which a Bonus is payable. Unless otherwise specified by the Board, the Bonus Period shall be the fiscal year of the Company.

  • Earned Bonus means the bonus paid, if any, pursuant to the Company’s incentive compensation plans in effect from time to time. Earned Bonus shall be prorated based on the ratio of the number of days during such year that Executive was employed to 365.

  • Accrued Amounts means:

  • Accrued Amount has the meaning set forth in Section 3.1(b) of this Agreement.

  • Base Salary Amount means the greater of the Executive’s annual base salary (a) at the rate in effect on the Termination Date and (b) at the highest rate in effect at any time during the 180-day period prior to a Change in Control, and will include all amounts of the Executive’s base salary that are deferred under any qualified or non-qualified employee benefit plan of the Company or any other agreement or arrangement.

  • Accrued Servicing Fees based upon the Scheduled Principal Balance of the Mortgage Loan as calculated on a monthly basis.

  • Accrued Compensation means an amount which shall include all amounts earned or accrued through the "Termination Date" (as hereinafter defined) but not paid as of the Termination Date, including (i) base salary, (ii) reimbursement for reasonable and necessary expenses incurred by the Executive on behalf of the Company during the period ending on the Termination Date, (iii) vacation pay and (iv) bonuses and incentive compensation (other than the "Pro Rata Bonus" (as hereinafter defined)).

  • Compensation Accrued at Termination means the following:

  • Monthly Base Salary means 1/12th of the greater of (i) Executive’s annual base salary (excluding incentive pay, premium pay, commissions, overtime, bonuses and other forms of variable compensation) as in effect on the date of a Change in Control Termination or a Covered Termination, as applicable, or (ii) in the case of a Change in Control Termination, Executive’s annual base salary (excluding incentive pay, premium pay, commissions, overtime, bonuses and other forms of variable compensation) as in effect on the date of a Change in Control.

  • Annual Base Salary shall have the meaning set forth in Section 3(a).

  • Base Salary shall have the meaning set forth in Section 3(a) hereof.

  • Benefit Period means the period of time from the date of the Accident causing the Injury for which benefits are payable, as shown in the Schedule of Benefits, and the date after which no further benefits will be paid.

  • Monthly salary means the portion of a member’s annual compensation which is paid to him or her per month.

  • Paid sick leave – means paid leave under the Emergency Paid Sick Leave Act.

  • Sick Leave means the period of time an employee is absent from work with or without pay, by virtue of sickness, quarantine, or accident, or out-of-town medical/dental referrals for which compensation is not payable under the Worker's Compensation Act.

  • Accrued Expenses means the accrued and unpaid expenses appearing as a Liability on the Preliminary Closing Statement or the Final Closing Statement.