Prorated Basis definition

Prorated Basis means the total amount of Relocation Expenses made on Employee’s behalf at the time of the termination of employment, times a fraction, the numerator of which is the number of complete months since Employee had relocated his family to San Antonio, the denominator of which is 12. Employee agrees that the reimbursement amount owed to the Company shall be made immediately by a cash payment on Employee’s last date of employment. If Employee has not submitted the reimbursement amount to the Company as agreed to herein, Employee authorizes Company to deduct the reimbursement amount from any amount due to Employee, including any compensation or reimbursement. Tax consequences, if any, that are related to relocation expenses or other payments by or from the Company are the sole responsibility of Employee.
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Prorated Basis means (A) for any Tranche that is scheduled to vest on the Vesting Date next following the date of termination, the number of RSUs in such Tranche multiplied by the following fraction: the number of days the Participant worked during the one year period immediately prior to the Vesting Date of such Tranche divided by 365, and (B) for any Tranche that is not scheduled to vest on the Vesting Date next following the date of termination, none of the RSUs in such Tranche(s), or
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Prorated Basis means the total amount of Relocation Expenses made on Employee’s behalf at the time of the termination of employment, times a fraction, the numerator of which is the number of complete months Employee was actually employed by the Company, the denominator of which is 12. Employee agrees that reimbursement amount owed to the Company shall be made immediately by a cash payment on Employee’s last date of employment. If Employee has not submitted the reimbursement amount to the Company as agreed to herein, Employee authorizes Company to deduct the reimbursement amount from any amount due to Employee, including any compensation or reimbursement.
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Examples of Prorated Basis in a sentence

  • In the event employment ends within the first year following Employee’s relocation of his family to San Antonio for any reason other than termination by the Company without Cause or by Employee for Good Reason, Employee agrees to reimburse the Relocation Expenses on a Prorated Basis.

  • In the event employment ends within the first year for any reason other than termination by the Company without Cause, Employee agrees to reimburse the Relocation Expenses on a Prorated Basis.

Related to Prorated Basis

  • Adjusted Basis has the meaning given such term in Section 1011 of the Code.

  • Unallocated Basis means, with respect to the holding of gold, that the holder is entitled to receive delivery of Physical Gold in the amount standing to the credit of the holder’s account, but the holder has no ownership interest in any particular gold that the custodian maintaining that account owns or holds.

  • net earnings means such earnings as are calculated in accordance with paragraph 42 or 52, as the case may be;

  • consolidated basis means on the basis of the consolidated situation;

  • Net Taxable Income has the meaning set forth in Section 4.01(b)(i).