Examples of Qualtrics Employee in a sentence
Except to the extent otherwise provided herein, SAP and Qualtrics shall adopt, or shall cause to be adopted, all reasonable and necessary plan amendments to prevent the IPO from constituting a termination of employment of any Qualtrics Employee, Transferring Employee or Qualtrics-Aligned Employee for purposes of triggering a distribution under any SAP Plan or any Qualtrics Plan.
The Exchanged Awards shall retain the same vesting and payment schedule as the Existing Awards but shall otherwise be governed by the terms and conditions of the 2021 Qualtrics Employee Omnibus Equity Plan (the “2021 Plan”).
SAP and Qualtrics shall use reasonable best efforts to cause, in the manner described herein, the accounts under the SAP 401(k) Plan of each eligible Qualtrics Employee and each eligible Transferring Employee to be transferred to the Qualtrics 401(k) Plan as soon as practicable after the Implementation Date.
To the extent that Qualtrics’ human resources (“HR”) department is not involved at the outset of any HR matter relating to any Qualtrics Employee or Qualtrics-Aligned Employee, SAP shall promptly involve Qualtrics’ HR department.
Prior to the IPO Date, Qualtrics shall adopt (i) the 2021 Plan and (ii) the 2021 Qualtrics Employee Stock Purchase Plan (the “ESPP”), and each plan shall be approved by Qualtrics’ sole stockholder.
Upon such involvement, Qualtrics shall be responsible for all HR matters relating to any Qualtrics Employee and SAP and Qualtrics shall coordinate with respect to all HR matters relating to any Qualtrics-Aligned Employee.
Qualtrics shall continue to retain all applicable employee records, data or information, and compliance-related training documents (collectively, “Employment Files”), with respect to each Qualtrics Employee, and SAP shall maintain Employment Files for each Qualtrics-Aligned Employee, in accordance with all applicable laws.
In determining whether a Qualtrics Employee is vested in his or her account under the Qualtrics 401(k) Plan, if applicable, the Qualtrics 401(k) Plan shall credit each Qualtrics Employee with at least the individual’s service credited under the SAP 401(k) Plan; provided, however, that in no event shall Qualtrics be required to provide any service or any other benefit-affecting credits to any individual to the extent that the provision of such credits would result in any duplication of benefits.
Short-term incentive compensation and commission payments earned or accrued by any Qualtrics Employee or Qualtrics-Aligned Employee for the fiscal year 2020 and beyond shall be Liabilities of Qualtrics pursuant to the terms and conditions of the applicable short-term incentive compensation plan or policy.
See Section 1 (“Eligible Employees; Fixed Value Rights and/or Existing RSUs; Number of Qualtrics RSUs to be Issued in Exchange; Expiration Date; Fractional Shares; 2021 Qualtrics Employee Omnibus Equity Plan”) for more information on the Exchange Ratio.