Accrued Wages and Paid Time Off Sample Clauses

Accrued Wages and Paid Time Off. To the extent not required by Applicable Law to be paid by a Selling Entity to the Transferred Employees upon termination of employment, then Buyer shall assume and recognize as Assumed Liabilities with respect to each Transferred Employee any accrued but unpaid salary or wages, accrued but unpaid bonuses or incentives under the STI Plan and accrued but unused PTO for periods prior to the Closing Date, all of which the Parties acknowledge are to be included as Current Liabilities in Net Working Capital. To the extent that Applicable Law requires a Selling Entity to pay accrued and unpaid salary, wages and PTO, upon termination of employment, then each Selling Entity shall as soon as administratively practicable following the Closing Date or as required by Applicable Law, but in no event later than thirty (30) days following the Closing Date pay each Transferred Employee all earned but unpaid salary, wages, short-term incentives and accrued but unused PTO as of the Closing Date.
Sample 1Sample 2
AutoNDA by SimpleDocs
Accrued Wages and Paid Time Off. To the extent not required by Applicable Law to be paid by a Selling Entity to the Transferred Employees upon termination of employment or otherwise limited by Applicable Law, Buyer shall assume and recognize the Assumed Liabilities with respect to each Transferred Employee any accrued but unused PTO for periods prior to the Closing Date, in each case only to the extent set forth on Disclosure Schedule 5.22(a), and shall seek the consent of such Transferred Employees if required by Applicable Law. Each Selling Entity shall as soon as administratively practicable following the Closing Date, but in no event later than the date required by Applicable Law, pay each Transferred Employee all earned but unpaid salary, wages, short-term incentives and, to the extent required by Applicable Law, accrued but unused PTO as of the Closing Date.
Sample 1

Related to Accrued Wages and Paid Time Off

  • Accrued Salary and Paid Time Off On the Separation Date, the Company will pay you all accrued salary, and all accrued and unused vacation earned through the Separation Date, subject to standard payroll deductions and withholdings. You are entitled to these payments by law.

  • Vacation and Paid Time Off The Executive shall be entitled to vacation and paid time off in accordance with the standard policies of the Company for executives as in effect from time to time.

  • Accrued Wages and Vacation; Expenses Without regard to the reason for, or the timing of, Employee’s termination of employment: (i) the Company shall pay the Employee any unpaid base salary due for periods prior to the Termination Date; (ii) the Company shall pay the Employee all of the Employee’s accrued and unused vacation through the Termination Date; and (iii) following submission of proper expense reports by the Employee, the Company shall reimburse the Employee for all expenses reasonably and necessarily incurred by the Employee in connection with the business of the Company prior to the Termination Date. These payments shall be made promptly upon termination and within the period of time mandated by law.

  • Paid Time Off The Executive shall be entitled to take paid time off in accordance with the Company’s applicable paid time off policy for executives, as may be in effect from time to time.

  • Vacation; Paid Time Off During the Employment Term, the Executive shall be entitled to fifteen (15) paid vacation days per calendar year (prorated for partial years) in accordance with the Company’s vacation policies, as in effect from time to time that is at least as favorable as that provided to other similarly situated executives of the Company. The Executive shall receive other paid time-off in accordance with the Company’s policies for executive officers as such policies may exist from time to time.

  • Accrued Vacation It is further agreed by the parties hereto that, upon sale or transfer of ownership of any store or upon dissolution of business, vacation pay for all months worked for which no vacation pay has been given shall be immediately paid to all employees coming under this Agreement, regardless of length of time said employee has been with the Employer.

  • Time Off The company recognises that sufficient time off to attend to personal matters and for recreation are important to the employee’s wellbeing, job satisfaction and overall productivity. Accordingly, time off may be taken with the consent of the Company, which shall not be unreasonably withheld. In considering the approval to have time off, the Parties will have regard to the current works programme and the urgency of the reason for time off. In the event that time off is to be taken, it will be the employee’s obligation to advise the Company in advance or as soon as practicable on the day of absence, recognising that unplanned absences can cause costly disruption to programmed works and are a major source of annoyance for the company, other employees and clients. The object of offering flexible working hours is that in return employees will take very seriously their obligation to turn up when they are expected. In view of the disruption caused by unplanned and or notified absenteeism, repeated failure to observe the protocol for time off would constitute misconduct.

  • Accrued Salary and Vacation On the Separation Date, the Company will pay you all accrued salary and all accrued and unused vacation earned through the Separation Date, subject to standard payroll deductions and withholdings. You will receive these payments regardless of whether or not you sign this Agreement.

  • Accrued Amounts The Company shall pay to the Executive all other amounts accrued or earned by the Executive through the Termination Date and amounts otherwise owing under the then existing plans and policies of the Company, including but not limited to all amounts of compensation previously deferred by the Executive (together with any accrued interest thereon) and not yet paid by the Company, and any accrued vacation pay not yet paid by the Company.

  • Accrued Salary On the Separation Date, the Company will pay you all accrued salary earned through the Separation Date, subject to standard payroll deductions and withholdings. You will receive these payments regardless of whether or not you sign this Agreement.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!