Equivalent Employment definition

Equivalent Employment means, with respect to a Business Employee other than a Business Employee entitled to benefits under the Cree, Inc. Severance Plan – Vice President Level, a position of initial employment with the Buyer or one of its Affiliates (a) with a base salary or hourly rate that is at least 90% of the Continuing Employee’s base salary or hourly rate while employed by the Seller or one of its Affiliates immediately prior to the Closing; (b) at a grade level that is equivalent in all material respects with the grade level of the position held by the Business Employee while employed by the Seller or one of its Affiliates immediately prior to the Closing, or no more than the equivalent of one (1) job level below such level, as determined by the Buyer or its applicable Affiliate in consultation with the Seller; and (c) that is in a location that is at or within less than 50 miles from the Business Employee’s job location while employed by the Seller or one of its Affiliates immediately prior to the Closing. With respect to a Business Employee entitled to benefits under the Cree, Inc. Severance Plan – Vice President Level, “Equivalent Employment” means a position of initial employment with the Buyer or one of its Affiliates that (i) does not or would not result in a material reduction in such Business Employee’s (A) authority, duties or responsibilities with the Seller or one of its Affiliates immediately prior to the Closing or (B) overall annual compensation, including base salary, target annual compensation (bonus), or long-term incentive compensation (including equity compensation) with the Seller or one of its Affiliates immediately prior to the Closing, and (ii) is in a location that is at or within less than 35 miles from such Business Employee’s principal place of employment with the Seller or one of its Affiliates immediately prior to the Closing. If each applicable prong of this definition is not met, then the employment shall not constitute “Equivalent Employment.”
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Equivalent Employment means, (1) with respect to a Business Employee other than a Business Employee eligible for benefits under the Wolfspeed, Inc. Severance Plan – Vice President Level, a position of initial employment with the Buyer or one of its Affiliates (a) with a base salary or hourly rate that is at least 90% of the Business Employee’s base salary or hourly rate while employed by the Seller or one of its Affiliates immediately prior to the Closing; (b) at a grade level that is materially consistent with the grade level of the position held by the Business Employee while employed by the Seller or one of its Affiliates immediately prior to the Closing, or no more than the equivalent of one (1) job level below such level, as determined by the Buyer or its applicable Affiliate following consultation with the Seller; and (c) that is in a location that is at or within less than 50 miles from the Business Employee’s job location while employed by the Seller or one of its Affiliates immediately prior to the Closing, and (2) with respect to a Business Employee eligible for benefits under the Wolfspeed, Inc. Severance Plan – Vice President Level, a position of initial employment with the Buyer or one of its Affiliates that (i) does not or would not result in a material reduction in such Business Employee’s (A) authority, duties or responsibilities with the Seller or one of its Affiliates immediately prior to the Closing or (B) overall annual compensation, including base salary, target annual compensation (bonus), or long-term incentive compensation (including equity compensation) with the Seller or one of its Affiliates immediately prior to the Closing, and (ii) is in a location that is at or within less than 35 miles from such Business Employee’s principal place of employment with the Seller or one of its Affiliates immediately prior to the Closing. If each applicable prong of this definition is not met, then the employment shall not constitute “Equivalent Employment.”
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Equivalent Employment means an employment offer made prior to a Layoff Event:
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Examples of Equivalent Employment in a sentence

  • The words “Full-Time Equivalent Employment Position” or “Full-Time Equivalent Employment Positions” mean and include a job requiring a minimum of One Thousand Nine Hundred Twenty (1,920) hours of work averaged over a twelve (12) month period.

  • The words “Full-Time Equivalent Employment Position” mean a combination of employees with jobs located within the corporate limits of the City, each of which individually is not a Full-Time Employment Position because the employee is not employed a minimum of One Thousand Five Hundred and Sixty (1,560) hours averaged over a twelve (12) month period, but which, in combination, are counted as the equivalent for a Full-Time Employment Position.

  • Failure of Owner to comply with employing and maintaining the minimum number of Full-Time Equivalent Employment Positions shall entitle the PEDC to require Owner to pay to the PEDC $100 per day for each day of such failure to comply.

  • Developer covenants and agrees beginning on February 1, 2024, and during the Term of this Agreement, Developer shall deliver to BCDC an annual compliance verification signed by a duly authorized representative of Developer that shall certify the number of Full-Time Equivalent Employment Positions, and shall disclose and certify the average wage for all Full-Time Equivalent Employment Positions (the “Annual Compliance Verification”).

  • Developer covenants and agrees beginning on February 1, 2025, and during the Term of this Agreement, Developer shall deliver to BCDC an annual compliance verification signed by a duly authorized representative of Developer that shall certify the number of Full-Time Equivalent Employment Positions, and shall disclose and certify the average wage for all Full-Time Equivalent Employment Positions (the “Annual Compliance Verification”).

  • Owner covenants and agrees by the September 1st, 2022, and thereafter during the Term of this Agreement employ and maintain a minimum of (45) Full-Time Equivalent Employment Positions (“FTEP”) working at the Company on the Property.

  • Further, Developer covenants and agrees beginning on July 1, 2024, and during the Term of this Agreement, Developer shall deliver to EDC an annual compliance verification signed by a duly authorized representative of Developer that shall certify the number of Full-Time Equivalent Employment Positions, and shall disclose and certify the average wage for all Full-Time Equivalent Employment Positions (the “Annual Compliance Verification”).

  • Historic Hospitality Management covenants and agrees beginning on December 1, 2020, and during the Term of this Agreement, Historic Hospitality Management shall deliver to Lender an annual compliance verification signed by a duly authorized representative of Historic Hospitality Management that shall certify the number of Full-Time Equivalent Employment Positions, and shall disclose and certify the average wage for all Full-Time Equivalent Employment Positions (the “Annual Compliance Verification”).

  • The words “Full-Time Equivalent Employment Position” or “Full-Time Equivalent Employment Positions” mean and include a job requiring a minimum of two thousand hours of work over a twelve (12) month period.

  • The Developer covenants and agrees beginning on February 1, 2024, and annually thereafter during the Term of this Agreement, there will be a total of three (3) Annual Compliance Verifications due and submitted to the BCDC covering the Full-Time Equivalent Employment Positions created and maintained during the Term of this Agreement.


More Definitions of Equivalent Employment

Equivalent Employment means a position, which is commensurate in all material respects, including, without limitation, with respect to the level of compensation and responsibility, to Executive’s position immediately prior to the Change in Control, and which is principally conducted at a location within fifty (50) miles of Executive’s principal place of employment immediately prior to the Change in Control.
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Equivalent Employment means a position of employment with Buyer or one of its Affiliates with respect to a Continuing Employee with the following terms: (i) base salary or hourly rate that is at least 90% of the Continuing Employee’s base salary or hourly rate while employed by Seller or one of its Affiliates immediately prior to the Closing; (ii) at a grade level that is equivalent in all respects with the grade level of the position held by the Continuing Employee while employed by Seller or one of its Affiliates immediately prior to the Closing, or no more than the equivalent of one (1) job level below such level, as determined by Seller or its applicable Affiliate; and (iii) that is in a location that is at or within less than 50 miles from the Continuing Employee’s job location while employed by Seller or one of its Affiliates immediately prior to the Closing. If all three prongs of this definition are not met, then the employment shall not constitute “Equivalent Employment.” Subject to applicable Law, nothing herein shall require Buyer to maintain any particular terms or conditions of employment for any Continuing Employee for any period of time following the Closing, subject to Buyer’s obligations to provide severance benefits under Section 9.3 and Buyer’s obligation to comply with Section 9.8. Further, nothing herein shall be deemed to alter the at-will status of any Continuing Employee.
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Equivalent Employment means employment of a similar nature to the employment held by the worker when he suffered the employment injury, from the standpoint of vocational qualifications required, wages, social benefits, duration and working conditions;
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Equivalent Employment or “Equivalent Job” shall mean a person or persons employed by Company for at least Forty (40) hours per week at an hourly wage or salaried equivalent as may be required by the Council for the Town of Tazewell as provided in this Ordinance. A single Equivalent Job may mean one employed individual, or multiple employed individuals, whose aggregate hours of employment, at the required wage or salaried equivalent, equals at least Forty (40) hours per week. The Tazewell Town Council may modify the meaning of Equivalent Employment or Equivalent Job by requiring a minimum hourly wage or salaried equivalent. Until such designation is made the required hourly wage shall be the Federal Minimum wage.
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Equivalent Employment means a position of employment with Buyer or one of its Affiliates with respect to a Continuing Employee with the following terms: (i) base salary or hourly rate that is at least 90% of the Continuing Employee’s base salary or hourly rate while employed by Seller or one of its Affiliates immediately prior to the Closing; (ii) at a grade level that is equivalent in all respects with the grade level of the position held by the Continuing Employee while employed by Seller or one of its Affiliates immediately prior to the Closing, or no more than the equivalent of one (1) job level below such level, as determined by Seller or its applicable Affiliate; and (iii) that is in a location that is at or within less than 50 miles from the Continuing Employee’s job location while employed by Seller or one of its Affiliates immediately prior to the Closing. If all three prongs of this definition are not met, then the employment shall not constitute “Equivalent Employment.” Subject to applicable Law, nothing herein shall require Buyer to maintain any particular terms or conditions of employment for any Continuing Employee for any period of time following the Closing, subject to Buyer’s obligations to provide severance benefits under S ection 9 .3 and Buyer’s obligation to comply with S ection 9.8. Further, nothing herein shall be deemed to alter the at-will status of any Continuing Employee.
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Equivalent Employment means, (1) with respect to a Business Employee other than a Business Employee eligible for benefits under the Wolfspeed, Inc. Severance Plan – Vice President Level, a position of initial employment with the Buyer or one of its Affiliates (a) with a base salary or hourly rate that is at least 90% of the Business Employee’s base salary or hourly rate while employed by the Seller or one of its Affiliates immediately prior to the Closing; (b) at a grade level that is materially consistent with the grade level of the position held by the Business Employee while employed by the Seller or one of its Affiliates immediately prior to the Closing, or no more than the equivalent of one
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Related to Equivalent Employment

  • Gainful employment means paid employment for not less than 30 hours in each week for a period of not less than 12 months;

  • Active Employment means you must be actively at work for the Sponsor:

  • Fixed-term employment means employment for a specified term or ascertainable period. The contract for this employment will specify the starting and finishing dates of that employment, (or in lieu of a finishing date, will specify the circumstance(s) or contingency relating to a specific task or project, upon the occurrence of which the term of the employment shall expire).

  • Competitive employment means work in the competitive labor market that is performed on a full-time or part-time basis in an integrated setting and for which the client is compensated at or above the minimum wage, but not less than the customary wage and level of benefits paid by the employer for the same or similar work performed by individuals who are not disabled.

  • Self-employment shall be where a Claimant sets up his/her own business and is responsible for paying his/her tax and National Insurance.

  • Covered employment means employment in a covered position.

  • Male employee means an employed male who is caring for a child borne of his spouse or a child placed with the employee for adoption purposes.

  • Qualifying Termination of Employment means a Participant’s Termination of Employment (i) by the Company without Cause or (ii) by the Participant with or without Good Reason or by reason of Retirement.

  • Termination of Employment means that the Executive ceases to be employed by the Company for any reason, voluntary or involuntary, other than by reason of a leave of absence approved by the Company.

  • Current Employee has the meaning set forth in Section 7.8(a).

  • Customized employment means an approach to supported employment which individualizes the employment relationship between employees and employers in ways that meet the needs of both. Customized employment is based on an individualized determination of the strengths, needs, and interests of the person with a disability and is also designed to meet the specific needs of the employer. Customized employment may include employment developed through job carving, self-employment or entrepreneurial initiatives, or other job development or restructuring strategies that result in job responsibilities being customized and individually negotiated to fit the needs of the individual with a disability. Customized employment assumes the provision of reasonable accommodations and supports necessary for the individual to perform the functions of a job that is individually negotiated and developed.

  • self-employment route means assistance in pursuing self-employed earner’s employment whilst participating in—

  • Seasonal employment means the employment of 1 or more individuals primarily hired to perform services during regularly recurring periods of 26 weeks or less in any 52-week period other than services in the construction industry.

  • Permanent Employee means an employee who has successfully completed probationary period on initial appointment.

  • Active Employee means a contributing member of the TRS who is employed by a public school and is not entitled to coverage under a plan provided under Insurance Code Chapter 1551 (Texas Em- ployees Group Benefits Act) or 1601 (State University Employees Uniform Insurance Benefits Act).

  • Retired employee means an employee of the state who retired after April 29, 1971,

  • Involuntary Termination of Employment means the Termination of Service by the Company or Subsidiary other than a termination for Cause, or termination of employment by a Participant Employee for Good Reason.

  • Newly hired employee or “New Hire” means any employee, whether permanent, full-time, or part-time, hired by the Office and who is still employed as of the date of new employee orientation. It also includes all employees who are or have been previously employed by the Office and whose current position has placed them in the bargaining unit represented by CSEA. For those latter employees, for purposes of this article only, the “date of hire” is the date upon which the employees’ employment status changed as such that the employee was placed in the CSEA unit.

  • Post-Employment Period means the eighteen month period beginning on the date of termination of the Executive's employment with the Employer. If any covenant in this Section 8.2 is held to be unreasonable, arbitrary or against public policy, such covenant shall be considered to be divisible with respect to scope, time, and geographic area, and such lesser scope, time, or geographic area, or all of them as a court of competent jurisdiction may determine to be reasonable, not arbitrary, and not against public policy, shall be effective, binding, and enforceable against the Executive. The period of time applicable to any covenant in this Section 8.2 will be extended by the duration of any violation by the Executive of such covenant. The Executive shall, while the covenant under this Section 8.2 is in effect, give notice to the Employer, within ten days after accepting any other employment, of the identify of the Executive's employer. The Employer may notify such employer that the Executive is bound by this Agreement and, at the Employer's election, furnish such employer with a copy of this Agreement or relevant portions thereof.

  • Female employee means an employed female who is pregnant or is caring for a child she has borne or a child who has been placed with her for adoption purposes.

  • Relevant Employee means the Previous Contractor Employees, the Previous Contractor Third Party Employees and Previous Contractor Sub-contractor Employees;

  • Supported employment means the ongoing supports to participants who, because of their disabilities, need intensive ongoing support to obtain and maintain an individual job in competitive or customized employment, or self-employment, in an integrated work setting in the general workforce at or above the state’s minimum wage or at or above the customary wage and level of benefits paid by the employer for the same or similar work performed by individuals without disabilities. The outcome of this service is sustained paid employment at or above the minimum wage in an integrated setting in the general workforce in a job that meets personal and career goals. Supported employment services can be provided through many different service models.

  • Fixed term employee means a person engaged for a specified term or for the duration of a specified task in accordance with section 37(3)(b) of the State Service Act 2000.

  • Parent Employee means, a current employee of Parent or any of its Subsidiaries.

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

  • Ceased employment means anyone who has exited the organisation for whatever reason, including resignations, redundancies and dismissals.