Disqualified Employee definition
Disqualified Employee means an employee of the Corporation who, either directly or indirectly at the time an option is granted, owns more than ten percent (10%) of the total combined voting power of all classes of stock of the Corporation or any subsidiary or parent of the Corporation. For purposes of this determination, the employee shall be considered as owning the stock owned, directly or indirectly, by or for his spouse, brothers and sisters (whether by whole or half-blood), ancestors, and lineal descendants; and stock owned, directly or indirectly, by or for a corporation, partnership, estate, or trust shall be considered as being owned proportionally by or for a shareholder.
Disqualified Employee has the meaning set forth in Section 8.1(a).
Disqualified Employee means an employee of the Corporation who, either directly or indirectly at the time an option is granted, owns more than ten percent (10%) of the total combined voting power of all classes of stock of the Corporation or any subsidiary or parent of the Corporation. For purposes of this determination, the employee shall be considered as owning the stock owned, directly or
Examples of Disqualified Employee in a sentence
Except as otherwise provided with respect to a Disqualified Employee, for a period of ninety (90) days following the Closing, Buyer shall not, and shall cause the Acquired Companies not to, take any action that would trigger advance notice obligations under the WARN Act without satisfying any such obligations.
The employment of each Disqualified Employee shall be terminated, and ▇▇▇▇▇▇ agrees to bear the cost, if any, of such termination, including any severance obligations, it being understood that Seller shall indemnify Buyer and its Affiliates to the extent WARN obligations arise in connection with a Disqualified Employee’s termination.
More Definitions of Disqualified Employee
Disqualified Employee means an employee of the Company who owns, or is deemed to own under Sections 421(d) of the Code, at the time an option is granted more than ten (10) percent of the total combined voting power of all classes of stock of the Company or any subsidiary or parent of the Company.
Disqualified Employee means an Employee who has been disqualified by virtue of Clause 20 of this Plan.