Employee Note definition

Employee Note means an unsecured promissory note executed by an Employee to the order of a Borrower or a Subsidiary, evidencing a loan to such Employee.
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Employee Note shall have the meaning such term is given in Section 4.4 hereof.
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Employee Note and "Employee Notes" have the meanings stated in Section 2.1(g).
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Examples of Employee Note in a sentence

  • Employee's obligations under the Employee Note shall be secured by a pledge of all of the shares of Common Stock purchased hereunder to the Company and in connection therewith, Employee shall enter into a pledge agreement in the form of ANNEX B attached hereto.

  • Date) (Signature) Exhibit GCNR ANNUAL HOLDINGS REPORT (This report must be accurate within 45 days of submission) Employee: Note: In lieu of completing sections 1 and 2 below, you may attach duplicate copies of your most recent brokerage or custodian statements provided they are current within 45 days of the date of this report and sign below certifying that all required information has been provided.

  • After the occurrence and continuance of any Event of Default hereunder or a default under an Employee Note, all such applications shall be made in accordance with the terms of clause (c) immediately below.

  • Prior to the occurrence and continuance of an Event of Default hereunder or of a default under an Employee Note, the Agent shall apply all Collections to the payment of costs or expenses, interest, fees, and principal attributable to the Notes to which the Collections apply, in that order.

  • All payments of principal, interest, fees, and costs or expenses by the Borrower prior to the occurrence and continuance of an Event of Default under Article VIII hereof, or by the issuer of an Employee Note prior to the occurrence and continuance of a default under such Employee Note, shall be distributed to the Banks by the Agent as provided in this Section.

  • Upon and in the event of the issuance of the Conversion Shares (as such term is defined in the Note and Key Employee Note), such Conversion Shares shall be duly authorized, fully paid and non-assessable.

  • Upon the --------------------------------------- cancellation of the Employee Note pursuant to Section 2 hereof, all amounts due and owing under the Employee Note by Employee to the Company shall be forgiven by the Company, the Security Agreement shall be terminated and Employee shall have no further obligation to the Company under the Employee Note or the Security Agreement.

  • Employee will effect payment for the Initial Shares by delivery to the Company of Employee's promissory note in favor of the Company, attached hereto as Exhibit D, in the principal amount of $500,000 (the "Employee Note") in accordance with the terms of the Stockholder's Agreement.

  • The obligations of the Employee under this Employee Note may not be assigned by the Employee without the prior written consent of ACE.

  • The Seller hereby directs the Purchaser to withhold the Aggregate Employee Note Payoff Amount, solely for administrative convenience, pursuant to Section 3.1(b)(i)(iii), in deemed satisfaction of the Employee Note Payoff Amount owed by each applicable equityholder of Seller that is an obligor under an Employee Note.


More Definitions of Employee Note

Employee Note means a subordinated convertible promissory note in the aggregate amount of $1,000,000, reduced in the manner and payable on the terms set forth in Section 3.5.
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Employee Note means the unsecured, subordinated, non-interest bearing promissory notes of Microtek to the order of the persons identified on Schedule 2.1(b)(iii) to the Deka Acquisition Agreement, in an original aggregate principal amount not to exceed $1,250,000, all of which notes shall be in form and substance satisfactory to the Agent.
Sample 1
Employee Note. The Company shall repay the loan, in full, Employee made to the Company in the amount of $21,000, plus $1,768.54, which represents interest accrued at the rate of 8% per annum from June 27, 2018 through August 16, 2019 simultaneously with the date the Severance is paid;
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Related to Employee Note

  • Company Employee Agreement means any management, employment, severance, change in control, transaction bonus, consulting, repatriation or expatriation agreement or other contract between any Group Company and any current or former employee, director or officer of such Group Company.

  • Employee Agreement means each management, employment, severance, consulting, relocation, repatriation, expatriation, visas, work permit or other agreement, contract or understanding between the Company or any Affiliate and any Employee;

  • Employment Agreement means each management, employment, severance, consulting, relocation, repatriation, expatriation, visas, work permit or other agreement, or contract between the Company or any Affiliate and any Employee.

  • Guidance Note Include the above provision when dealing with the appointment of English process agent by a non English incorporated Guarantor]  

  • Prior Employment Agreement has the meaning set forth in the recitals hereto.

  • Employment Agreements shall have the meaning provided in Section 5.05.

  • Executive Severance Plan means the Company’s Senior Executive Employee Severance Pay Plan, as in effect from time to time.

  • Severance Agreement means the Amended and Restated Key Executive Severance Agreement, dated as of the date hereof, between the parties, as it may be amended from time to time, that provides for certain benefits related to termination of the Executive’s employment that are unrelated to a Change of Control.

  • Deferred Compensation Agreement means an agreement to participate and to defer compensation between a Participant and the Company in such form and consistent with terms of the Plan as the Company may prescribe from time to time.

  • Employment Contract means any contract between the Corporation or any Designated Affiliate and any Eligible Employee, Eligible Director or Other Participant relating to, or entered into in connection with, the employment of the Eligible Employee, the appointment or election of the Eligible Director or the engagement of the Other Participant or any other agreement to which the Corporation or a Designated Affiliate is a party with respect to the rights of such Participant in respect of a change in control of the Corporation or the termination of employment, appointment, election or engagement of such Participant;

  • Employment Date means the first date as of which an Employee is credited with an Hour of Service, provided that, in the case of a Break in Service, the Employment Date shall be the first date thereafter as of which an Employee is credited with an Hour of Service.

  • Restricted Employee means any person who was a director, employee or consultant of the Company at any time within the Relevant Period who by reason of that position and in particular his seniority and expertise or knowledge of Confidential Information or knowledge of or influence over the clients, customers or contacts of the Company is likely to cause damage to the Company if he were to leave the employment of the Company and become employed by a competitor of the Company;

  • Former Employee means all individuals (including common law employees, independent contractors and individual consultants) who were employed or engaged by the Company in connection with the Business but who are no longer so employed or engaged on the date hereof.

  • Executive Employee means those employees of the Company of Grade Level 10 or above.

  • Restricted Stock Purchase Agreement means a written agreement between the Company and the Optionee evidencing the terms and restrictions applying to stock purchased under a Stock Purchase Right. The Restricted Stock Purchase Agreement is subject to the terms and conditions of the Plan and the Notice of Grant.

  • Severance Date means the date on which an Executive incurs a Severance, which shall be the date of termination as determined under Section 5.2.

  • Public employee means an individual holding a position by appointment or employment in the government of this state, in the government of 1 or more of the political subdivisions of this state, in the public school service, in a public or special district, in the service of an authority, commission, or board, or in any other branch of the public service, subject to the following exceptions:

  • Employee Signature Date: Employer Signature: Date:

  • Restrictive Covenant Agreement means any agreement, and any attachments or schedules thereto, entered into by and between the Participant and the Partnership or its Affiliates, pursuant to which the Participant has agreed, among other things, to certain restrictions relating to non-competition (if applicable), non-solicitation and/or confidentiality, in order to protect the business of the Partnership and its Affiliates.

  • Non-Key Employee means any Employee who is not a Key Employee.

  • Company Employee means an employee of the Company or any of its Subsidiaries.

  • Offer Letter means the letter given to the Trainee providing him/her with an offer to join Infosys after the successful completion of the Program as a full-time employee in the capacity of a systems engineer, subject to terms and conditions contained in the offer letter.

  • Change in Control Severance Benefits means the benefits payable pursuant to Section 3 of this Agreement.

  • Restricted Stock Agreement means the agreement between the Company and the recipient of a Restricted Share that contains the terms, conditions and restrictions pertaining to such Restricted Share.

  • Noncompetition Agreement has the meaning given in Section 3.2.

  • Stock Option Agreement means the agreement between the Company and an Optionee that contains the terms, conditions and restrictions pertaining to his or her Option.