Accrued Vacation Payment definition

Accrued Vacation Payment as defined in Section 4.1(b) hereof.
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Accrued Vacation Payment as defined in Section 4.1(b).
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Accrued Vacation Payment shall have the meaning set forth in Section 11.8.
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Examples of Accrued Vacation Payment in a sentence

  • If Executive's employment is terminated by the Company for Cause or if Executive voluntarily terminates employment with the Company under Sections 2.2 (a) or (e), within fifteen (15) days of the date of such termination, the Company will pay Executive the: Accrued Base Salary; Accrued Vacation Payment; Accrued Reimbursable Expenses; and Benefits, together with any benefits required to be paid or provided under applicable law.

  • The Purchaser covenants that it will pay vacation pay to the Transferred Canadian Employees in a cumulative amount not less than the Accrued Vacation Payment either at the times of their vacations, or upon termination of employment, or otherwise as required by Law.

  • For greater clarity, no part of the Accrued Vacation Payment will be used by the Purchaser to satisfy its obligations to Transferred Canadian Employees in respect of vacation time or vacation pay earned by Transferred Canadian Employees after the Closing Date.

  • To the extent the Purchaser fails to make payment, on or before thirty (30) days after the Closing Date, to any such electing Transferred Canadian Employee of the employee’s portion of the Actual Accrued Vacation Payment and Xxxxxx makes such payment to such employee, the Purchaser shall reimburse Xxxxxx dollar-for-dollar for the amount of payments Xxxxxx makes in accordance with this Section 11.8.

  • In the event that the Employee's employment hereunder is terminated by the Company for any reason (other than a Change in Control (hereinafter defined) as provided in Paragraph (c) below), upon such termination the Company (i) shall pay the Employee (A) the balance of the Base Salary that would have been paid to the Employee had his employment not been terminated, (B) the MIP Bonus, (C) the Accrued Vacation Payment and (ii) shall make all further lease payments required pursuant to Section 4(b) hereof.

  • Lefcort agrees that the amount of $3,846.15, which amount represents the draw received by Lefcort during the year 2000, shall be subtracted from, and applied against, the Accrued Vacation Payment, resulting in a net payment to Lefcort of $2500.01.

  • If Employee terminates his employment with the Company pursuant to Section 5(a)(v) hereof, then the Company shall pay Employee the Base Salary through the Date of Termination together with reimbursable business expenses actually and reasonably incurred by Employee prior to the Date of Termination and the Accrued Vacation Payment (each of which shall be paid consistent with the policies of the Company in effect at such time).

  • In the event of the Employee's death, the Employee's beneficiary or estate shall be entitled to receive payment from the Company of any sums that have accrued to the Employee as of the date of the Employee's death, and shall be entitled to receive the MIP Bonus and the Accrued Vacation Payment.

  • The Purchaser’s offers of employment to Current Canadian Employees as described in Section 11.1(b) shall provide such employees with the opportunity to elect (in a manner that complies with Section 36(4) of the Ontario Employment Standards Act, 2000) to receive from the Purchaser a lump sum payment of the employee’s portion of the Actual Accrued Vacation Payment no later than thirty (30) days after the Closing Date.

  • For greater clarity, no part of the Estimated Accrued Vacation Payment or the Actual Accrued Vacation Payment will be used by the Purchaser to satisfy its obligations to Transferred Canadian Employees in respect of vacation time or vacation pay earned by Transferred Canadian Employees after the Closing Date.


More Definitions of Accrued Vacation Payment

Accrued Vacation Payment means the aggregate amount of all cash payments required to be made by Sellers pursuant to any Legal Requirement with respect to the accrued and unpaid vacation benefits earned by any Transferred Employees on or prior to the Closing Date.
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Related to Accrued Vacation Payment

  • Accrued Amount has the meaning set forth in Section 3.1(b) of this Agreement.

  • Accrued Bonus means the bonus, which may be negative or positive, which is calculated in the manner set forth in Section V.A.

  • Accrued Amounts means:

  • Accrued Compensation means an amount which shall include all amounts earned or accrued through the "Termination Date" (as hereinafter defined) but not paid as of the Termination Date, including (i) base salary, (ii) reimbursement for reasonable and necessary expenses incurred by the Executive on behalf of the Company during the period ending on the Termination Date, (iii) vacation pay and (iv) bonuses and incentive compensation (other than the "Pro Rata Bonus" (as hereinafter defined)).

  • Separation Payment means any lump sum cash payment in excess of Earned Salary and Accrued Obligations payable to Employee under this Agreement.

  • Compensation Accrued at Termination means the following:

  • Severance Payments shall have the meaning set forth in Section 6.1 hereof.

  • Compensation Payment means a payment, whether in monetary form or in the form of a benefit or service, by or on behalf of an insurer to a complainant to compensate the complainant for a proven or estimated financial loss incurred as a result of the insurer’s contravention, non-compliance, action, failure to act, or unfair treatment forming the basis of the complaint, where the insurer accepts liability for having caused the loss concerned, but excludes any –

  • Severance Pay means any amount that is payable in cash and is identified by a Participating Company as severance pay, or any amount which is payable on account of periods beginning after the last date on which an employee (or former employee) is required to report for work for a Participating Company.

  • Accrued Base Salary means the amount of Executive's Base Salary which is accrued but not yet paid as of the Date of Termination.

  • Severance Payment means any amount paid by a board to or in behalf of a superintendent on early termination of the superinten- dent’s contract that exceeds the amount earned by the superinten- dent under the contract as of the date of termination, including any amount that exceeds the amount of earned standard salary and benefits that is paid as a condition of early termination of the con- tract. Payments to a former superintendent who remains employed by a district in another capacity or contracts with a district to pro- vide the district services may be severance payments in whole or in part if the payments are compensation for the early termination of a prior employment agreement. Severance payments include any payment for actual or threatened litigation involving or related to the employment contract. Education Code 11.201(c); 19 TAC 105.1021(a)(1)

  • Earned Bonus means the bonus paid, if any, pursuant to the Company’s incentive compensation plans in effect from time to time. Earned Bonus shall be prorated based on the ratio of the number of days during such year that Executive was employed to 365.

  • Severance Amount means:

  • Accrued Obligations means (i) all accrued but unpaid Base Salary through the date of termination of Executive’s employment, (ii) any unpaid or unreimbursed expenses incurred in accordance with Section 7 hereof, and (iii) any benefits provided under the Company’s employee benefit plans upon a termination of employment, in accordance with the terms contained therein.

  • Cash Bonus means an award of a bonus payable in cash pursuant to Section 10 hereof.

  • Accrued Obligation means the sum of (a) Executive’s Annual Base Salary through the Termination Date for periods through but not following his Separation From Service and (b) any accrued vacation pay earned by Executive, in each case, to the extent not theretofore paid.

  • Base Salary Amount means the greater of the Executive’s annual base salary (a) at the rate in effect on the Termination Date and (b) at the highest rate in effect at any time during the 180-day period prior to a Change in Control, and will include all amounts of the Executive’s base salary that are deferred under any qualified or non-qualified employee benefit plan of the Company or any other agreement or arrangement.

  • Monthly salary means the portion of a member’s annual compensation which is paid to him or her per month.

  • Bonus Payments means that portion of the bonus payments received by the

  • Contingent Compensation Payment means any payment (or benefit) in the nature of compensation that is made or made available (under this Agreement or otherwise) to a “disqualified individual” (as defined in Section 280G(c) of the Code) and that is contingent (within the meaning of Section 280G(b)(2)(A)(i) of the Code) on a Change in Ownership or Control of the Company.

  • Bonus Amount means the greater of (i) the average annual incentive bonus earned by Executive from the Company (or its affiliates) during the last three (3) completed fiscal years of the Company immediately preceding Executive’s Date of Termination (annualized in the event Executive was not employed by the Company (or its affiliates) for the whole of any such fiscal year), and (ii) the Executive’s target annual incentive bonus for the year in which the Date of Termination occurs.

  • Earnable compensation means the full rate of the

  • Accrued Expenses means the accrued and unpaid expenses appearing as a Liability on the Preliminary Closing Statement or the Final Closing Statement.

  • Accrued Benefits shall include the following amounts, payable as described herein: (i) all base salary for the time period ending with the Termination Date; (ii) reimbursement for any and all monies advanced in connection with the Executive's employment for reasonable and necessary expenses incurred by the Executive on behalf of the Company and its Affiliates for the time period ending with the Termination Date; (iii) any and all other cash earned through the Termination Date and deferred at the election of the Executive or pursuant to any deferred compensation plan then in effect; (iv) notwithstanding any provision of any bonus or incentive compensation plan applicable to the Executive, a lump sum amount, in cash, equal to the sum of (A) any bonus or incentive compensation that has been allocated or awarded to the Executive for a fiscal year or other measuring period under the plan that ends prior to the Termination Date but has not yet been paid (pursuant to Section 5(f) or otherwise) and (B) a pro rata portion to the Termination Date of the aggregate value of all contingent bonus or incentive compensation awards to the Executive for all uncompleted periods under the plan calculated as to each such award as if the Goals with respect to such bonus or incentive compensation award had been attained; and (v) all other payments and benefits to which the Executive (or in the event of the Executive's death, the Executive's surviving spouse or other beneficiary) may be entitled as compensatory fringe benefits or under the terms of any benefit plan of the Employer, including severance payments under the Employer's severance policies and practices in the form most favorable to the Executive that were in effect at any time during the 180-day period prior to the Effective Date. Payment of Accrued Benefits shall be made promptly in accordance with the Employer's prevailing practice with respect to clauses (i) and (ii) or, with respect to clauses (iii), (iv) and (v), pursuant to the terms of the benefit plan or practice establishing such benefits.

  • Termination Benefits means the benefits described in Section 4.1(b).

  • Base Compensation means the amount equal to the sum of (i) the greater of Executive’s then-current Annual Base Salary or Executive’s Annual Base Salary as of the date one day prior to the Change in Control, and (ii) the Average Incentive Bonus.