Accrued Vacation Pay definition
Accrued Vacation Pay means an amount equal to the value of the Executive’s accrued and unused paid vacation leave through the Termination Date determined at the Highest Base Salary Rate.
Accrued Vacation Pay means all accrued vacation pay as of the Closing Date of each of Seller's employees as provided in Seller's related Employee Benefit Plan.
Accrued Vacation Pay means the amount of salaries and wages which the Employees are entitled to receive (including all employment taxes with respect thereto) for any personal time off for vacation accrued by such Employees as of the time in question (computed at the rate of the salaries and wages earned by such Employees as of the time in question), but expressly excluding any Accrued PTO.
Examples of Accrued Vacation Pay in a sentence
Purchaser shall (i) honor and credit each Employee’s unused accrued or earned vacation, sick-time-off or other paid time off of any Employee and (ii) be responsible for the payment of such Accrued Vacation Pay to the Employees (to the extent Purchaser received a credit therefor) when payable in accordance with applicable Legal Requirements.
Purchaser shall receive a credit in an amount equal to one hundred percent (100%) of the Accrued Vacation Pay as of the Cut-Off Time of all Employees.
All Compensation due and payable to Employees shall be prorated as of the Cut Off Time, other than Accrued Vacation Pay (which is addressed in Section 7.1(g) above).
Notwithstanding the foregoing, to the extent required pursuant to any applicable Legal Requirements, at Closing, Seller shall cause Manager to pay to the Employees an amount equal to the unpaid Accrued Vacation Pay for each applicable Employee.
Purchaser shall not receive a credit at Closing for any Accrued Vacation Pay.
More Definitions of Accrued Vacation Pay
Accrued Vacation Pay means the obligation of the Company to its employees for accrued vacation pay through the Closing Date.
Accrued Vacation Pay means any accrued holiday, vacation and sick pay payable incurred by Seller included in account 2001-244 (Accrued Holiday/Vacation/Sick Pay) on the Seller Balance Sheet or Seller’s Books and Records to the extent such accrued holiday, vacation and sick pay has been included therein in conformity with GAAP applied on a basis consistent with the Reference Balance Sheet.
Accrued Vacation Pay means, with respect to an Employee, the compensation received at his Severance from Service for unused accrued vacation pursuant to the Employer's applicable policy.
Accrued Vacation Pay means the monetary value of any vacation days, sick-leave or other paid time-off earned and accrued by the Employees as of the time in question (computed by reference to, as applicable, the rate of the salaries and wages earned by such Employees as of the Closing Date), under Manager Employer's employment policies that would be required to be paid out to upon a termination of such Employee.
Accrued Vacation Pay means, with respect to an Exempt Employee or a Non-Exempt Employee, the compensation received at his Severance from Service for unused accrued vacation pursuant to the Employer's applicable policy.
Accrued Vacation Pay. You will receive vacation pay accrued through 17 August 2009. This will be included in your 4 September 2009 paycheck.
Accrued Vacation Pay means the aggregate amount of accrued vacation pay as of the Closing Date, excluding pay for holidays, but including the effect of all employee benefits such as FICA, for those Affected Employees who are employees of Sellers or Arby's on the Closing Date and who are hired by RTM or Newco One on the Closing Date. 3. "Affiliate" means, with respect to any Person, any other person controlling, controlled by or under common control with, such Person. 4. "Arby's Headquarters Employee" means any salaried employee of Arby's (as defined herein) employed at Arby's corporate offices in Ft. Lauderdale, Florida whose primary duties do not relate to the operation of the Restaurants. 5. "Assets" means, subject to Paragraph 5.8 hereof, as of the Closing Date, all of the Sellers' right, title and interest in, and to, all of the assets located at the Restaurants that are used by the Sellers in the operation of the Restaurants, whether owned or leased by the Sellers, including, without limitation, the following: (i) all of the Sellers' right, title, and interest in and to the Restaurant Leases, whether as lessor or lessee or both; (ii) all Security Deposits; (iii) all leasehold improvements ("Leasehold Improvements") owned by the Sellers with respect to the leased Restaurants (if not included in the Restaurant Leases); (iv) all furniture, fixtures, equipment and personal property, including, without limitation, cash registers (to the extent not included under the POS Agreements), owned or leased by the Sellers and used in the business of and located at the Restaurants (hereinafter the "FF&E"); (v) all rights of the Sellers as lessor or lessee or both under the Equipment Leases; (vi) all of the Sellers' right, title and interest in and