CTI Employee definition
Examples of CTI Employee in a sentence
Neither a Comverse Employee nor a CTI Employee shall be deemed to have terminated employment for purposes of determining eligibility for severance benefits in connection with or in anticipation of the consummation of the transactions contemplated by the Distribution Agreement.
The amount of such payments will be determined by CTI in its discretion, and will be intended to approximate the amount of the matching contribution that would otherwise be made to each such CTI Employee for the 2012 calendar year under the CTI 401(k) Plan, without taking into account any tax or deferral benefits.
As of the Effective Time, any employment agreement, offer letter or other similar agreement or arrangement between CTI and any employee (other than a Remaining CTI Employee) shall be hereby assigned by CTI to Comverse, and Comverse will hereby assume such agreement and all Liabilities under such agreement, subject to obtaining any necessary consents.
As of September 30, 1999, the Company had reserved 285,714 shares of Common Stock for issuance to employees pursuant to the 1996 CTI Employee Stock Purchase Plan (together with the Stock Option Plan, the ("CTI Plans"), of which 129,135 shares have been issued to employees.
Each CTI Employee Benefit Plan that is intended to qualify under Code Section 401(a) has received a favorable determination letter (or other ruling indicating its tax-qualified status) from the IRS which is current with respect to all plan provisions required under applicable law for which such a letter can be obtained under IRS procedures, and the IRS has not threatened or taken any action to revoke any favorable determination letter issued with respect to any such CTI Employee Benefit Plan.
No statement, either oral or written, has been made or administrative action has been taken by CTI or any CTI Affiliate (or any agent of either) to any Person regarding any CTI Employee Benefit Plans that is not in accordance with the terms of that plan that would have a Material Adverse Effect on CTI.
Within thirty (30) days of GE’s receipt of the Notification, GE shall pay each CTI Employee a cash payment representing an appropriate share of the Bonus Amount based on the foregoing calculations under this Section 8.10.
As of September 17, 1999, the Company had reserved 285,714 shares of Common Stock for issuance to employees pursuant to the 1996 CTI Employee Stock Purchase Plan (together with the Stock Option Plan, the ("CTI Plans"), of which 151,780 shares have been issued to employees.