Employee Termination Costs definition

Employee Termination Costs means (a) Employment Costs with respect to the relevant employee which arise in respect of the period from and including the Closing Date up to and including the termination of employment or the date of transfer (in each case pursuant to Sections 5.14(c)(i)(D) or (ii)(D), or Sections 5.14(c)(i)(E) or (ii)(E), respectively), as applicable and (b) Severance Costs.
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Employee Termination Costs means: (i) Employment Costs payable to or in respect of the relevant Employee to the extent incurred or which fall due to be performed, or which arise in respect of the period or should have been performed, in the period from and including the Applicable Completion Date up to and including the termination of employment; and (ii) all amounts paid by the relevant employer to dismiss the relevant Employee, including any statutory redundancy payment, end of service gratuity, any enhanced contractual or discretionary redundancy, termination or severance pay, any payment in lieu of notice, any payment in lieu of accrued but untaken holiday or vacation, reasonable legal fees incurred by the relevant employer and any reasonable contribution to the Employee’s legal fees, any amount paid to the Employee as consideration for the entering into of confidentiality or other post-termination restrictive covenants, and any other amounts reasonably required to secure the Employee’s agreement to either entering into a settlement agreement or to otherwise minimise the risk of claims arising in connection with their dismissal; Employees with reference to any natural person or legal entity, means all the workers employed by the same (irrespective of the type of their employment contract, the duration of the employment relationship and their category, and whether employed under training contracts, part-time or fixed term contracts);
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Employee Termination Costs means (a) Employment Costs with respect to the relevant employee which arise in respect of the period from and including the Closing Date up to and including the termination of employment or the date of transfer (in each case pursuant to Sections 5.14(c)(i)(D) or (ii) (D), or Sections 5.14(c)(i)(E) or (ii)(E), respectively), as applicable and (b) Severance Costs.
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Examples of Employee Termination Costs in a sentence

  • No portion of the Employee Termination Payment Fund may be distributed or disbursed to the owners, members, managers, or other representatives of TKS, TOMS King Holdings, LLC, or TOMS Capital LLC (other than the Participants, as defined in the Retention Plan) and must be used solely for the Employee Termination Costs.

  • The parties will use reasonable endeavors as soon as practicable after the date of this Agreement to agree on the most appropriate Employee Migration Method in each relevant jurisdiction, and for the avoidance of doubt, any Employee Termination Costs incurred by the Seller Group in connection with the implementation of a particular Employee Migration Method shall be Assumed Employee Liabilities under this Agreement.

  • After paying the entirety of the Employee Termination Payment Fund, the Debtors shall have no further obligation with respect to Employee Termination Costs but shall continue reimbursement of Ordinary Course Costs to the extent required under the Services Agreement and this Order.

  • These restructuring activities resulted in the termination of 17 employees.2018 Charges: Employee Termination Costs Facility Consolidation Costs Total Restructuring and Other Related ChargesFood and Beverage$ 4.4$0.9$5.3Industrial2.3 0.1 2.4Other(0.1) — (0.1)Total$ 6.6$1.0$7.6 Food and Beverage—Charges for 2018 related primarily to severance and other costs of $3.5 associated with the rationalization of the business associated with the execution of large dry-dairy systems projects described above.

  • Salaries and Wages Employee Termination Costs Travelling Employee Leave Entitlements (ELE) Superannuation Workers' Compensation Insurance Fringe Benefit Tax (FBT) Training Costs (other than Salaries & Wages) Total Employee Costs less: Capitalised Costs TOTAL EMPLOYEE COSTS EXPENSED Number of "Equivalent Full Time" Employees at year end Number of "Equivalent Full Time" Employees at year end (incl.

  • The restructuring activity through September 30, 2004 and the remaining accrual balance at September 30, 2004 were as follows: Employee Termination Costs Restructuring accrual at December 31, 2003 $ 0.8Cash payments during 2004 (0.3) Restructuring accrual at September 30, 2004 $ 0.5 The cash outlays during the nine months ended September 30, 2004 were primarily for severance and other personnel-related costs.

  • Employee Future Benefits Liability and Ultimate Removal Costs‌ The 2001/03 GRA NSA set up a deferral account for Employee Termination Costs.

  • Design SolutionsSegment DiscreetSegment Unallocated Office Closure Costs Employee Termination Costs Office Closure Costs Employee Termination Costs Office Closure Costs Employee Termination Costs Total Balance at January 31, 2004 .

  • These restructuring activities resulted in the termination of 17 employees.2018 Charges: Employee Termination Costs Facility Consolidation Costs Total Restructuring and Other Related ChargesFood and Beverage$ 4.4$0.9$5.3Industrial2.3 0.1 2.4Other(0.1) — (0.1)Total$6.6$1.0$ 7.6 Food and Beverage—Charges for 2018 related primarily to severance and other costs of $3.5 associated with the rationalization of the business associated with the execution of large dry-dairy systems projects described above.

Related to Employee Termination Costs

  • Termination Costs means all documented Direct Costs and Indirect Costs incurred by Transmission Owner in connection with the performance of the Services (i) prior to the effective date of termination, including such costs incurred for materials, equipment, tools, construction equipment and machinery, engineering and other items, materials, assets or services that cannot reasonably be avoided, mitigated or cancelled, (ii) to unwind any work undertaken prior to or after the effective date of termination to the extent reasonably necessary to return the Projects to a configuration or condition in compliance with Good Utility Practice and applicable Law, and (iii) arising from cancellation costs relating to orders or contracts entered into in connection with the performance of Services by Transmission Owner prior to the effective date of the termination.

  • Employment Termination Date means, with respect to a Participant, the first day upon which the Participant no longer has an employment or service relationship with the Company or any Related Company.

  • Qualifying Termination means a termination of Executive’s employment (i) by the Company other than for Cause or (ii) by Executive for Good Reason. Termination of Executive’s employment on account of death, Disability or Retirement shall not be treated as a Qualifying Termination.

  • Qualified disability expenses means that term as defined in section 529A of the internal revenue code.

  • Nonqualifying Termination means a termination of the Executive’s employment (1) by the Company for Cause, (2) by the Executive for any reason other than a Good Reason, (3) as a result of the Executive’s death or (4) by the Company due to the Executive’s absence from his duties with the Company on a full-time basis for at least 180 consecutive days as a result of the Executive’s incapacity due to physical or mental illness.

  • Termination Compensation means a monthly cash amount equal to one-twelfth ( 1/12th) of the highest amount of the annual cash compensation (including cash bonuses and other cash-based compensation, including for these purposes amounts earned or payable whether or not deferred) received by Executive during any one of the three (3) calendar years immediately preceding the calendar year in which Executive’s Termination Date occurs; provided, that if the cash compensation received by Executive during the Termination Year exceeds the highest amount of the annual cash compensation received by Executive during any one of the immediately preceding three (3) consecutive calendar years, the cash compensation received by Executive during the Termination Year shall be deemed to be Executive’s highest amount of annual cash compensation. In no event shall Executive’s Termination Compensation include equity-based compensation (e.g., income realized as a result of Executive’s exercise of non-qualified stock options or other stock based benefits).

  • Employment Termination means the effective date of: (i) Executive’s voluntary termination of employment with the Company with Good Reason, or (ii) the termination of Executive’s employment by the Company without Good Cause.

  • Service Termination Date means the last Day in a month upon which Service shall terminate, as set forth in a Schedule of Service and subject to any renewal thereof.

  • Severance Costs means the costs which the employers are legally obliged to pay to or in respect of the Crew as a result of the early termination of any employment contract for service on the Vessel.

  • Effective Termination Date has the meaning set forth in Section 10(b) hereof.

  • Company Termination Fee has the meaning set forth in Section 7.3(a).

  • Post-Employment Period is defined in Section 8.2.

  • Benefit Continuation Period shall have the meaning set forth in Section 5(b).

  • Post-Termination Period means the twelve (12) month period beginning on the Termination Date.

  • Reverse Termination Fee has the meaning set forth in Section 7.02(b).

  • Extended Termination Date has the meaning specified in Section 2.16(c).

  • CIC Qualifying Termination means a Separation (A) within twelve (12) months following a Change in Control or (B) within three (3) months preceding a Change in Control (but as to part (B), only if the Separation occurs after a Potential Change in Control) resulting, in either case (A) or (B), from (i) the Company terminating the Executive’s employment for any reason other than Cause or (ii) the Executive resigning his or her employment for Good Reason. A termination or resignation due to the Executive’s death or disability shall not constitute a CIC Qualifying Termination. A “Potential Change in Control” means the date of execution of a legally binding and definitive agreement for a corporate transaction which, if consummated, would constitute the applicable Change in Control (which for the avoidance of doubt, would include, for example, a merger agreement, but not a term sheet for a merger agreement). In the case of a termination following a Potential Change in Control and before a Change in Control, solely for purposes of benefits under this Agreement, the date of Separation will be deemed the date the Change in Control is consummated.

  • Agreement Termination Date is defined in Section 7.4.

  • Covered Termination means the termination of Executive’s employment by the Company without Cause or by Executive for Good Reason, and shall not include a termination due to Executive’s death or disability.

  • Severance Term means the six (6) month period following Employee’s termination by the Company without Just Cause (other than by reason of death or Disability) or by Employee for Good Reason; provided, that if such termination occurs within twelve (12) months following a Change in Control, the Severance Term shall be the twelve (12) month period following such termination.

  • Change in Control Termination means that while this Agreement is in effect:

  • Transition Costs means the reasonable costs and expenses (including reasonable attorneys’ fees but excluding overhead) incurred or payable by the Successor Servicer in connection with the transfer of servicing (whether due to termination, resignation or otherwise), including allowable compensation of employees and overhead costs incurred or payable in connection with the transfer of the Receivable Files or any amendment to the Sale and Servicing Agreement required in connection with the transfer of servicing.

  • income-related employment and support allowance means an income-related allowance under Part 1 of the Welfare Reform Act 2007;

  • Date of Termination means the date of receipt of the Notice of Termination or any later date specified therein, as the case may be; provided, however, that (i) if the Executive's employment is terminated by the Company other than for Cause or Disability, the Date of Termination shall be the date on which the Company notifies the Executive of such termination and (ii) if the Executive's employment is terminated by reason of death or Disability, the Date of Termination shall be the date of death of the Executive or the Disability Effective Date, as the case may be.