Accrued Vacation Amount means the amount of compensation, including the employer’s portion of any associated payroll Taxes, with respect to the accrued and unused vacation days that is accrued on the account of a Transferring Employee from his or her respective employer as of the Closing Date, to be calculated in accordance with the Calculation Principles.
Accrued Vacation Amount means all compensation payable to Executive following his Termination for accrued but unused vacation days determined in accordance with Company's vacation policy.
Accrued Vacation Amount means the aggregate amount (including related payroll taxes and workers’ compensation premiums) accrued on the Valuation Date Balance Sheet in respect of vacation days accrued by Transferred Business Employees from January 1, 2004 through the Closing Date.
Examples of Accrued Vacation Amount in a sentence
Buyer shall have tendered the Purchase Price, the Prepaid Sales Tax Amount and the Accrued Vacation Amount to Seller pursuant to ARTICLE II and have assumed all the Assumed Liabilities at the Closing.
Before making a formal statement, the LA would seek a range of advice.
More Definitions of Accrued Vacation Amount
Accrued Vacation Amount means, at any given time, (x) (i) the amount of compensation with respect to the accrued and unused vacation (including all Taxes required to be withheld on behalf of the applicable Transferred Employee by his or her respective employer but excluding employer Taxes) that is due and owing (and not yet actually paid) with respect to the Transferred Employees (other than Share Transfer Employees but including, for purposes of this clause, Loaned Employees) from their respective employer, (ii) in respect of Transferred Employees located in India, the amount specified on Section 7.1.2(c)(v) of the Sellers Disclosure Schedule in respect of gratuity payments, and (iii) in respect of Transferred Employees in Australia, the amount specified in Section 7.1.2(c)(v) of the Sellers Disclosure Schedule in respect of the long service leave and sick leave, in each case to be calculated in accordance with the Calculation Principles, plus, in the case of (i), (ii) and (iii), the aggregate amount of employer Taxes required to be paid in connection with such amounts; less (y) when calculating the Estimated Closing Accrued Vacation Amount, the amount of cash to be deposited in the Accrued Cash-Out Vacation Escrow Account and, when calculating the Closing Accrued Vacation Amount, the portion of the accrued but unused vacation amount that is owed to the Transferred Employees as of the Closing Date listed on Section 2.2.8 of the Sellers Disclosure Schedule that is actually paid by the Sellers to such Transferred Employees on or after the Closing Date and before the Accrued Vacation Amount Final Payment Date, together with any employer Taxes thereon that are timely paid to appropriate Government Entities in connection therewith.
Accrued Vacation Amount means the total amount of accrued vacation for those employees of Seller who become employees of Acquisition Sub immediately following the Closing, as shown on the balance sheet delivered by Seller at Closing; provided, however that for the purposes of the Agreement (and for no other purpose), the maximum amount of accrued vacation included in the “Accrued Vacation Amount” for any individual employee shall be no more than: (i) 25 days, for those employees who have been employed with Seller for more than 4 years; (ii) 20 days, for those employees who have been employed with Seller for more than 3 years but less than 4 years; and (iii) 15 days for those employees who have been employed for less than 3 years.
Accrued Vacation Amount is hereby amended to include the following words after the words “Transferring Employee”: “(other than a Transferring Employee located in Mexico)”.
Accrued Vacation Amount has the meaning specified in Section 2.4.
Accrued Vacation Amount means the lesser of (a) the product of (i) any liability for accrued vacation, personal days, sick pay and other paid time off times (ii) 0.80, and (b) $200,000.
Accrued Vacation Amount means compensation for accrued but unused vacation days determined in accordance with the Company’s vacation policy.
Accrued Vacation Amount means the amount of accrued but unused vacation for each of the employees set forth on Schedule 8.2(a) but only to the extent of the dollar amounts set forth on such schedule.