Employee Transaction Payments definition

Employee Transaction Payments means the transaction bonus payments described on Schedule 1.6(g) of the Company Disclosure Statement that shall be made by Company to the employees of Company identified on such Schedule 1.6(g) in connection with the transactions contemplated by this Agreement on the Closing Date, which amount shall equal $620,000.
Sample 1
Employee Transaction Payments means, without duplication, all amounts payable by any of the Target Companies, whether before or after the Closing Date, in respect of (a) change in control, transaction, retention or similar payments that are payable to any current or former employee, officer, director, consultant or other service provider of a Target Company solely on account of the consummation of the transactions contemplated hereby (and not, for the avoidance of doubt, (i) any such payment that is conditioned on continued employment for a period following such consummation, (ii) any amount that is payable regardless of whether the transactions contemplated hereby are consummated but that is accelerated as a result of the consummation of such transactions, or (iii) any payment due under the Phantom Plan or any award agreement thereunder) and (b) the employer portion of any payroll, social security, unemployment or similar Taxes due in connection with the payments set forth in clause (a) of this sentence.
Sample 1
Employee Transaction Payments means all payments to be made to any current or former employee, officer, director, consultant, or independent contractor of the Company in connection with the transactions contemplated hereby (other than any payments for a Stock Purchase as described in Section 2.1), including, without limitation, all change in control payments, all severance benefits, all retention or sale bonuses (including, without limitation, all amounts paid to executives of the Company in connection with this transaction), and all settlement payments in respect of existing non-competition agreements, which payments are identified on Schedule II attached hereto.
Sample 1

Examples of Employee Transaction Payments in a sentence

  • No provision of this Agreement is intended to confer upon any person or entity other than the Parties hereto any rights or remedies hereunder; except that (a) the Employee Transaction Payments are intended for the benefit of certain employees of the Company, (b) the provisions of ARTICLE 10 are intended for the benefit of the Buyer Indemnified Parties and the Seller Indemnified Parties, and (c) the provisions of Section 6.10 are intended for the benefit of the individuals described therein.


More Definitions of Employee Transaction Payments

Employee Transaction Payments means the aggregate amount MPC has committed to pay certain of its employees in order to avoid disruption of its business (excluding ordinary pay, severance payments and retention bonuses) pursuant to the MPC Products Corporation Change in Control Plan as approved by resolution of the board of directors of MPC on August 14, 2008.
Sample 1
Employee Transaction Payments means the aggregate amount of payments under any Employee Benefit Plans which the Targets are obligated to make to their employees in connection with the transactions contemplated by this Agreement that are not paid by the Targets or Seller or any of its Affiliates prior to or at Closing. Schedule 3.13(a) indicates all of the Employee Benefit Plans which may provide for Employee Transaction Payments.
Sample 1
Employee Transaction Payments means the payments to the employees pursuant to the employees’ respective letter agreements with Seller, which will in the aggregate equal $425,000 of cash upon payment of Seller Note 2, 87,700 Forcefield Shares at Closing, and $425,000 of cash, subject to reduction, upon payment of Seller Note 1, but which shall exclude any Company tax, social security, and other payroll withholding obligations and deductions in connection therewith)1.
Sample 1

Related to Employee Transaction Payments

  • Transaction Payroll Taxes means all employer portion payroll or employment Taxes incurred in connection with any bonuses, option cash-outs or other compensatory payments in connection with the Transactions.

  • Termination Payments has the meaning specified in Section 10(a).

  • Transaction Bonuses means the aggregate amount of any transaction bonuses, discretionary bonuses, “success” fees, change of control payments, retention bonuses, severance payments, payouts of deferred compensation and any similar or other payment obligations payable related to the consummation of the Merger, the terms of which have been agreed to by the Company or the Company Subsidiary prior to the Effective Time, including with respect to any Employee, any employer-side payroll or related Taxes payable with respect thereto.

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

  • FICASH II Transaction means a repurchase transaction in which the Repurchase Date is the Banking Day next following the Sale Date and for which one or more of the following two categories of securities, as specified by the Funds, shall constitute Eligible Securities: (x) securities issued by the government of the United States of America that are direct obligations of the government of the United States of America, or (y) securities issued by or guaranteed as to principal and interest by the government of the United States of America, or by its agencies and/or instrumentalities, including, but not limited to, the Federal Home Loan Bank, Federal Home Loan Mortgage Corp., Government National Mortgage Association, Federal National Mortgage Association, Federal Farm Credit Bank, Federal Intermediate Credit Bank, Banks for Cooperatives, and Federal Land Banks.

  • FICASH III Transaction means a repurchase transaction in which the Repurchase Date is the Banking Day next following the Sale Date and for which securities issued by the government of the United States of America that are direct obligations of the government of the United States of America shall constitute Eligible Securities.

  • Lease Termination Payments means all payments received by or on behalf of any Seller with respect to a Lease with respect to any terminations, surrenders, modifications, renewals or amendments of any such Lease.

  • Exception Payments means payments to deposit accounts or brokerage accounts, payments to settle securities transactions (including, without limitation, stocks, bonds, securities, futures (forex), options, or an investment interest in any entity or property).

  • Termination Payment has the meaning set forth in Section 6.03.

  • Scheduled Funded Debt Payments means, as of any date of determination for the Borrower and its Subsidiaries, the sum of all scheduled payments of principal on Funded Debt for the applicable period ending on the date of determination (including payments due on Capital Leases and mortgaged real properties (including any Mortgaged Properties) during the applicable period ending on the date of determination).

  • Earn-Out Payments has the meaning set forth in Section 2.3(a).

  • Earnout Payments has the meaning set forth in Section 2.2(a).

  • Termination Payment Date means the date on which the RECIPIENT is required to repay to ECOLOGY any outstanding balance of the loan and all accrued interest.

  • Closing Date Payment has the meaning set forth in Section 2.04(a)(i).

  • Eligible Transactions means any retail transactions for the purchase of goods and/or services successfully charged to your Principal Credit Card and which are posted on UOB’s systems but excluding the Excluded Transactions (as defined below). For the avoidance of doubt, Eligible Transactions made in foreign currencies will be converted into Singapore dollars based on UOB’s then prevailing exchange rate applicable at the time of exchange. The transaction amount posted in your Principal Credit Card account will be used for the purposes of computing the Qualifying Spend amount for this Promotion.

  • Net Cash Payments means, with respect to any Disposition, the aggregate amount of all cash payments received by the Company and its Restricted Subsidiaries directly or indirectly in connection with such Disposition, whether at the time of such Disposition or after such Disposition under deferred payment arrangements or Investments entered into or received in connection with such Disposition (including, without limitation, Disposition Investments); provided that:

  • Swap Termination Payment Upon the designation of an “Early Termination Date” as defined in the Swap Agreement, the payment to be made by the Swap Administrator to the Swap Provider from payments from the Trust Fund, or by the Swap Provider to the Swap Administrator for payment to the Trust Fund, as applicable, pursuant to the terms of the Swap Agreement.

  • 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.

  • Deferred Consideration shall have the meaning ascribed to such term in Section 4(d).

  • Change in Control Payments means any payments made or to be made by the Company to the Company Key Employees or any other Person pursuant to that certain Data Management & Research, Inc. Change in Control Plan dated as of August 1, 2000 or otherwise as a result of the consummation of the transactions contemplated by this Agreement, including any Taxes paid or payable by the Company as a result of such payments.

  • Delayed contribution payment means an amount paid by an employee for purchase of current service. The amount shall be determined using the same formula in KRS 61.5525, and the payment shall not be picked up by the employer. A delayed contribution payment shall be deposited to the member's account and considered as accumulated contributions of the individual member. In determining payments under this subsection, the formula found in this subsection shall prevail over the one found in KRS 212.434;

  • Capitation Payment means a payment the STATE makes periodically to the MCO for each Enrollee covered under the Contract for the provision of services as defined in Article 6 regardless of whether the Enrollee receives these services during the period covered by the payment.

  • Equity Contribution Agreement means the Equity Contribution Agreement, to be dated as of the Closing Date, by and among Guarantor, Borrower and Administrative Agent.

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

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

  • Deferred Intercompany Transaction has the meaning set forth in Treas. Reg. Section 1.1502-13.