Accrued Vacation Amount definition

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.

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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, 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.

Examples of Accrued Vacation Amount in a sentence

Any positive balance remaining in the Accrued Cash-Out Vacation Escrow Account giving effect to any distributions therefrom made or required to be made as a result of certifications submitted by the Sellers on or before the Accrued Vacation Amount Final Payment Date shall be transferred to the Purchase Price Adjustment Escrow Account, added to the Purchase Price Adjustment Escrow Amount and applied as provided in Section 2.2.4.
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.
Asset Seller shall be responsible for paying the portion of the Accrued Vacation Amount applicable to each Transferred Employee that accepts employment with Purchaser at Closing pursuant to Section 8.2(a), and shall make such payments at the Closing.
The Accrued Vacation Amount has been paid to the Employees on or before the Closing Date.
Upon the termination of the Executive's employment for Cause, the Executive shall be entitled to the right to receive (i) the Unpaid Salary Amount, (ii) the Expense Reimbursement Amount, and (iii) the Accrued Vacation Amount.

More Definitions of Accrued Vacation Amount

Accrued Vacation Amount means, at any given time, the amount of compensation with respect to the accrued and unused vacation hours that is due and owing to the Specified Transferred Employees from their respective employer, to be calculated in accordance with the Calculation Principles.

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 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.

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 aggregate dollar amount attributable to all unpaid or unused “paid time off” accrued with respect to employees of the Company or of any P.C. as of the Closing Date which shall be determined, on an employee-by-employee basis, by multiplying the number of days of accrued and unpaid or unused paid time off for each such employee by such employee’s daily base salary as of immediately prior to the Closing Date.

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.