Employee Amount definition
Employee Amount means the aggregate amount payable to employees of the Company pursuant to any change in control bonus plan, severance plan, change of control, retention or similar arrangement of the Company, in each case, payable solely as a result of the transactions contemplated by this Agreement.
Employee Amount means all amounts payable pursuant to (a) any Transaction Bonus Plan or (b) any other change in control bonus plan, severance plan, change of control, retention or similar arrangement of the Company or any Subsidiary, in each case of this clause (b) payable in connection with the transactions contemplated by this Agreement or upon related, concurrent or subsequent employment termination, or in combination with any other event, plus all deductions at source at other amounts required to be withheld and the employer’s share of Taxes payable with respect to (i) all such amounts described in the foregoing clauses (a) and (b) and (ii) any exercise of or payments with respect to Company Options or Company RSUs outstanding or issuance of Restricted Stock at any time prior to the Closing; provided, that amounts payable pursuant to the agreements set forth on Section 7E of the Company Disclosure Schedule shall be deemed to not constitute “Employee Amounts” under this definition.
Employee Amount means (a) all amounts payable pursuant to the [**] “discretionary bonus plan” and any change in control or transaction-based bonus plan, severance plan, retention, employment, consulting, compensation or other arrangement or agreement between the Company or its Subsidiaries and a Company Employee, in each case, that are payable in connection with the transactions contemplated by this Agreement alone or in combination with any other event, or amounts payable pursuant to the arrangements set forth on Schedule 10.3, plus (b) all Liabilities for unfunded or underfunded Liabilities under any deferred compensation, defined benefit pension, supplemental retirement or post-employment welfare plan or arrangement as of immediately prior to the Closing, plus (c) all Liabilities for accrued vacation time/paid time off as of the Closing Date, plus (d) all Liabilities for unpaid severance arising from any terminations prior to the Closing (whether or not accrued), plus (e) the employer’s share of Taxes payable with respect to all such amounts described in the foregoing clauses (a) through (d), including, the employer’s share of Taxes payable with respect to the portion of the Closing Consideration payable to an Indemnity Participant who is, immediately prior to the Effective Time, a Company Employee, and which in each case shall include such Liabilities with respect to employees, consultants or independent contractors (in each case, in the event the Closing occurs in 2024, computed assuming the wage base limitation has been exceed for the purposes of Taxes under Section 3111(a) of the Code and, in the event the Closing occurs in [**], computing Taxes under Section 3111(a) using the actual wages paid prior to Closing for purposes of the wage base limitation, but only including [**] percent ([**]%) of such Taxes in the Employee Amount); provided, however, “Employee Amount” shall exclude (x) any amounts reflected in Closing Net Working Capital and (y) any amounts payable after Closing as a result of any Contracts or arrangements entered into by the Company or the Buyer after Closing or that otherwise arise or are incurred due to any action taken by or at the direction of the Buyer or any of its Affiliates.
Examples of Employee Amount in a sentence
On the 1st day of January each year, an employee will be entitled to take vacation time for the following year according to the following schedule: Years of Service as a City Employee Amount of Vacation 0 - 2 years 18 days Over 2 yrs to 6 yrs 23 days Over 6 yrs to 10 yrs 28 days Over 10 yrs to 15 yrs 30 days Over 15 years 33 days There shall be no banking of vacation time.
Annual leave shall be accrued in accordance with the following table: Consecutive Years of Service as a Full-Time Employee Amount of Accrual 6 Hour Employee 40 Hour/Week Employee 24 Hour Employee *For the purpose of leave accrual all employees working a 40 hour work week will be treated as working an 8 hour shift, regardless of whether they work an alternative schedule.
Annual leave shall be accrued in accordance with the following table: Consecutive Years of Service as a Full-Time Employee Amount of Accrual 6 Hour Employee 40 Hour/Week Employee 24 Hour Employee 0 – 4 83.3 % of the employee’s regular working day/shift for every month of service accrued *During an employee’s first six (6) months of employment, an employee may not take vacation leave.
The "Net Consideration" shall be equal ----------------- to the Aggregate Consideration minus the Key Employee Amount.
Annual leave shall be accrued in accordance with the following table: Consecutive Years of Service as a Full- Time Employee Amount of Accrual 6 Hour Employee 40 Hour Work Week Employee 24 Hour Employee 0 – 4 83.3 % of the employee’s regular working day/shift for every month of service accrued *During an employee’s first six (6) months of employment, an employee may not take vacation leave.
More Definitions of Employee Amount
Employee Amount means the number of Buyer Common Shares that, when multiplied by $46.15, will equal the aggregate amount owed under all severance, change of control, retention payments and similar obligations of the Company in connection with the Merger and the other transactions contemplated by this Agreement.
Employee Amount means without duplication, measured as of immediately prior to the Effective Time, (a) all amounts payable by the Company or any of its Subsidiaries pursuant to (i) any Transaction Bonus Plan, (ii) any other transaction, change in control bonus plan, severance plan, or change of control, retention or similar arrangement of the Company or any of its Subsidiaries, payable in connection with the Merger or any of the other transactions contemplated by this Agreement or upon related or concurrent or subsequent employment termination, or in combination with any other event, such payment is made on or prior to the Closing pursuant to, or under, an Employee Benefit Plan, a Contract or other arrangement entered into by the Company or any of its Subsidiaries prior to the Closing and (iii) to the extent not paid prior to the Effective Time, the amounts of any bonus to be paid in respect of the 2022 fiscal year (including, in each case, all of the employer portion of Taxes required to be paid in connection therewith, determined as if the applicable taxable period ended on the Closing Date), and (b) accrued and unused paid time off (PTO), but only to the extent credit for such PTO will be retained for the employees after the Closing; provided, however, “Employee Amount” shall not include any amounts payable after Closing as a result of any arrangements implemented by the Surviving Corporation or the Buyer after the Closing as a result of any arrangements entered into with or at the direction of the Buyer.
Employee Amount means the aggregate amount payable to employees of the Companies or any of the Subsidiaries pursuant to any change in control bonus plan, severance plan, change of control, retention or similar arrangement of the Companies or any Subsidiary, in each case payable solely as a result of the transactions contemplated by this Agreement.
Employee Amount means the aggregate amount payable to employees or consultants of the Company or any of the Subsidiaries pursuant to any change in control bonus plan, severance plan, change of control, retention or similar arrangement of the Company or any Subsidiary, plus the employer’s share of Taxes payable with respect to all such amounts, in each case payable as a result of the Merger and the other transactions contemplated by this Agreement (and specifically excluding (a) any amounts payable after Closing as a result of any arrangements implemented by the Surviving Corporation or the Buyer after the Closing and (b) any broad-based severance plan or policy of the Company in place as of the date of this Agreement and described in Section 2.22 of the Disclosure Schedule).
Employee Amount means all amounts payable by the Company pursuant to (a) any Transaction Bonus Plan or (b) any other change in control bonus plan, severance plan, change of control, retention or similar arrangement of the Company or any Subsidiary, in each case of this clause (b) payable as a result of the Merger or any of the other transactions contemplated by this Agreement; provided, however, that “Employee Amount” shall (w) include all amounts payable by or on behalf of the Company in connection with or as a result of the termination of the Company Employees listed on Schedule 5.1(i) and any other Company Employees terminated by the Company prior to the Closing, (x) exclude all Taxes, (y) exclude any change in control bonus plan, severance plan, change of control, retention or similar arrangement to the extent triggered by or resulting from actions taken by Buyer, the Surviving Corporation, any of its or their Affiliates or any Company Employee, in each case, after the Effective Time, and (z) exclude any amounts included as current liabilities in the calculation of Closing Net Working Capital to the extent resulting in a dollar for dollar adjustment in the Estimated Closing Adjustment or Final Closing Adjustment.
Employee Amount means an amount of cash equal to one million five hundred eighty seven thousand five hundred and ninety-four U.S. dollars ($1,587,594.00).
Employee Amount means the aggregate amount payable to employees and consultants of the Company or any of the Subsidiaries (a) for amounts payable with respect to accrued bonus and vacation through the Effective Time and (b) pursuant to any single trigger change in control bonus plan, any severance arrangement set forth on Schedule I, single trigger change of control, retention or similar single trigger arrangement of the Company or any Subsidiary, in each case (i) to the extent in existence as of the date of this Agreement and (ii) payable solely as a result of the consummation of the Merger and the other transactions contemplated by this Agreement.