LTD Employee definition

LTD Employee means any individual who is receiving long term disability benefits or long term income replacement benefits from any Heritage Company or a member of their respective Groups or is otherwise treated by any such entity as being on long term sick leave or disability status under the applicable Law in the applicable jurisdiction.

LTD Employee means any employee of (i) a Transferred Entity or (ii) Parent or any of its Subsidiaries who is primarily engaged to provide services to the Business, in each case, who is, immediately before the Closing, on a leave of absence from Parent or one of its Subsidiaries (including the Transferred Entities) and receiving benefits under Parent’s long-term disability plan.

LTD Employee has the meaning set forth in Section 10.1(f)(iv).

Examples of LTD Employee in a sentence

• The Employer shall contract for a long term disability plan, as provided in the current LTD Employee Benefit Booklet.

• The Parties hereto agree that none of the transactions contemplated by the Separation Agreement or any of the Ancillary Agreements, including this Agreement, shall result in any SpinCo Employee, SpinCo LTD Employee or Former SpinCo Employee being deemed to have incurred a termination of employment or being eligible to receive severance benefits, solely as a result of the Distribution.

• For the avoidance of doubt, other than the benefits provided under any Honeywell LTD Plan to any SpinCo LTD Employee, all Liabilities with respect to SpinCo LTD Employees (including, without limitation, any Liabilities arising out of any such SpinCo LTD Employee ceasing to participate in, or receive benefits under, any Honeywell LTD Plan for any reason) shall be treated as a Liability of SpinCo and the SpinCo Group in accordance with Section 2.05.

• The obligations under this Agreement of the Party that will become the employer (directly or indirectly) of a Returning LTD Employee that would otherwise commence on the MatCo Distribution Date or AgCo Distribution Date shall not commence until the Return from LTD Date, and, for the avoidance of doubt, such delay shall not constitute a breach of obligations under Section 1.04.

• SpinCo shall, or cause a SpinCo Group member to, offer (upon substantially comparable terms and conditions of employment) employment to each SpinCo LTD Employee when such SpinCo LTD Employee returns to work within the latest of (i) the time period prescribed under applicable Law, (ii) the applicable leave policy governing such employee at the time the disability commenced and (iii) six (6) months, and shall hire each SpinCo LTD Employee who accepts such offer of employment.

More Definitions of LTD Employee

LTD Employee means each Employee who is, immediately before the Closing, on a leave of absence from the Purchased Companies and receiving benefits under a long-term disability plan sponsored by Seller or an Affiliate thereof.

LTD Employee means each Business Employee on Leave who is receiving, or is receiving short-term disability benefits and is reasonably likely to receive, long-term disability benefits under a Seller Company Plan that is not maintained by a Business Company.

LTD Employee means an individual who is, immediately before the Closing, on a leave of absence from one of the Transferred Companies (or from any member of the Parent Group listed on S ection 6.1(a) of the Seller Disclosure Schedule if such individual was primarily engaged in rendering services in respect of the Business immediately prior to such leave of absence) and receiving benefits under Parent’s long-term disability plan.

LTD Employee means an individual who is, immediately before the Closing, on a leave of absence from one of the Transferred Companies (or from any member of the Parent Group listed on Section 6.1(a) of the Seller Disclosure Schedule if such individual was primarily engaged in rendering services in respect of the Business immediately prior to such leave of absence) and receiving benefits under Parent’s long-term disability plan.

LTD Employee means each Business Employee who is receiving (i) long-term disability benefits as of the Closing Date or (ii) short-term disability benefits as of the Closing Date that are expected to continue for more than six months from the commencement of such benefits (as determined in good faith by Seller consistent with past practice), in the case of each of clauses (i) and (ii), pursuant to a Seller Benefit Plan.

LTD Employee means a “Save-A-Lot LTD Employee” (as defined in the Separation Agreement).

LTD Employee means any individual who (i) would, if such individual were actively employed immediately prior to the Closing Date, be a Business Employee, but which employee is instead on the Closing Date (x) absent due to receiving long term disability benefits under an applicable Business Benefit Plan or (y) not employed and on an approved leave of absence with a right to reinstatement and (ii) presents him/herself for active employment to Purchaser, a Conveyed Company or a successor entity of any Asset Selling Entity, as applicable, within six (6) months after the Closing Date (or within such longer period as may be required by applicable Law or Collective Bargaining Agreement).