Accrued Paid Time Off. KLX shall credit each KLX Employee with the amount of accrued but unused vacation time, sick time and other time-off benefits as such KLX Employee had with the B/E Group as of January 1, 2015.
Accrued Paid Time Off. Prior to the Distribution Date, to the extent required by applicable Law, RemainCo shall solicit in writing the consent of each RemainCo Employee to rollover to RemainCo or another RemainCo Entity, such RemainCo Employee’s Accrued PTO as of the Effective Time (the “Rollover Consents”). With respect to each RemainCo Employee who (w) is not required to consent to such a rollover under applicable Law or (x) timely provides such Rollover Consent to RemainCo and consents to such a rollover, RemainCo shall (directly or through another RemainCo Entity) recognize and honor the Accrued PTO credited to each RemainCo Employee by such individual’s employer immediately prior to the Effective Time. To the extent permitted and/or required under applicable Law, the Accrued PTO of any RemainCo Employee who (y) elects in his or her Rollover Consent to receive a payment of his or her Accrued PTO or (z) does not timely provide a Rollover Consent to RemainCo, shall be paid to such individual(s) in a cash lump sum upon the transfer of such individual’s employment between the RemainCo Entities and the SpinCo Entities in connection with the Internal Distribution and/or the External Distribution. RemainCo shall reimburse SpinCo for any Accrued PTO paid to RemainCo Employees by any SpinCo Entity upon their transfer of employment from any SpinCo Entity to any RemainCo Entity in connection with the Internal Distribution and/or the External Distribution. Notwithstanding the foregoing, (x) all Accrued PTO shall be used in accordance with the terms and conditions of the post-External Distribution employer’s applicable policies and programs, to the extent permissible by Law, and (y) any paid-time-off accruals in respect of post-External Distribution services (if any) shall be made in accordance with the terms and conditions of the post-External Distribution employer’s applicable policies and programs (except to the extent otherwise provided in an applicable SpinCo Individual Agreement or RemainCo Individual Agreement).
Accrued Paid Time Off. The Company will pay you for any unused accrued PTO that you have remaining as of the Completion Date, less appropriate payroll deductions.
Accrued Paid Time Off. At the Conversion Date, General Xxxxx will provide Buyer with a schedule of Accrued Paid Time Off for Toledo Employees who become employed by Buyer as of such date and will wire transfer the dollar value of such Accrued Paid Time Off to the bank account designated by Buyer. At the Closing Date, General Xxxxx will provide Buyer with a schedule of Accrued Paid Time Off for Closing Date Employees who become employed by Buyer as of such date and will provide for a credit against the Purchase Price payable by Buyer equal to the dollar value of such Accrued Paid Time Off.
Accrued Paid Time Off. Concentra shall credit each Concentra Employee and each To-Concentra Employee with the amount of any accrued but unused vacation time, sick time and other time-off benefits as such Concentra Employee or To-Concentra Employee had with the Select Group as of the Separation Date.
Accrued Paid Time Off. Employee will be paid for any earned but unused paid time off (“PTO”) as of the Separation Date (113.34 hours), less all lawful or required deductions and withholdings. Employee acknowledges that this amount equals $12,260.34. PTO will cease to accrue after the Separation Date.
Accrued Paid Time Off. Payment for accrued but unused paid time off as of the Termination Date, with such payment being made on the first regularly scheduled payroll date occurring on or following the Termination Date.
Accrued Paid Time Off. Buyer shall use any funds wire transferred to it in respect of Accrued Paid Time Off for Toledo Employees pursuant to Section 5.8(c) to cover expenses relating to Accrued Paid Time Off for Toledo Employees who become employed by Buyer as of the Conversion Date. Buyer shall use any credit against the Purchase Price provided to Buyer in respect of Accrued Paid Time Off for Closing Date Employees pursuant to Section 5.8(c) to cover expenses relating to Accrued Paid Time Off for Closing Date Employees who become employed by Buyer as of the Closing Date.
Accrued Paid Time Off. With respect to any accrued but unused paid time off to which any Business Employee is eligible to take pursuant to the paid time off policy maintained by the Company or the Company Subsidiary for the benefit of the Business Employees applicable to such Business Employee immediately prior to the Closing Date, Buyer shall cause the Company or the Company Subsidiary to allow such Business Employee to use such accrued and unused paid time off during that individual’s employment following the Closing Date (notwithstanding any contrary program or policy of Buyer), and if such employment is terminated prior to a Business Employee’s use of all such accrued and unused paid time off, Buyer shall provide such individual with equivalent compensation in lieu of such paid time off.
Accrued Paid Time Off. Except as otherwise required by Law, Seller shall, no later than one payroll period following the Closing Date (and earlier if required by applicable Law), pay each Transferred Employee’s accrued and unused paid time off as of immediately prior to the Closing Date. Notwithstanding the foregoing, Purchaser shall allow the Transferred Employees listed on Schedule 9.3(h) of the Seller Disclosure Schedule (to be provided to Purchaser at Closing) to use the vacation and other paid time off or unpaid leave that has been scheduled prior to the Closing Date by such employees for periods on and after the Closing Date, to the same extent and on the same terms as provided under the applicable Seller Benefit Plan in effect immediately prior to the Closing Date and to the extent identified on Schedule 9.3(h); provided, that any such vacation or other paid time off shall be an advance of (and not in addition to) vacation or other paid time off under Purchaser’s policies, subject to each such Transferred Employee first executing a written agreement consistent with applicable Law providing for the deduction of the advanced vacation pay or other pay for non-working time from the Transferred Employee’s final compensation if the Transferred Employee resigns or is terminated before earning or accruing an equivalent amount of vacation or other paid time-off.
