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How is Employment Costs defined in a legal contract?

• Employment Costs means all salaries, wages, commissions, bonuses, holiday pay, sick pay, national insurance contributions, pension contributions made on behalf of an employee, and all other financial benefits related to employment.
  Seen in 8 SEC filings
• Employment Costs means all salaries, wages, sick pay, holiday pay, pension contributions, bonuses, commission, maternity, paternity and adoption pay, redundancy pay, expenses including travel and subsistence allowances and disturbance pay, tribunal awards or pre-dispute resolution settlements, national insurance contributions, and all regular employment costs.
  Seen in 7 SEC filings
• Employment Costs means wages, holiday pay, employment benefit, costs, redundancy costs and unfair dismissal costs in respect of all transferring staff.
  Seen in 6 SEC filings
• Employment Costs means salaries, wages, commissions, bonuses, all statutory contributions, holiday pay, national insurance contributions, pension contributions made on behalf of the employee, and employment benefit, costs, redundancy costs and unfair dismissal costs in respect of all transferring staff.
  Seen in 6 SEC filings
• Employment Costs means all costs, expenses, charges and contributions arising or accrued in connection with the contract of employment or its termination, including, without limitation, all salaries, wages, bonus, commission, benefit costs, holiday pay, notice pay, redundancy pay, taxation and national insurance contributions and contributions to retirement benefit schemes.
  Seen in 5 SEC filings

Note: pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

• Employment Costs means all financial benefits including salaries, wages, commissions, bonuses, holiday pay, sick pay, pension contributions, and national insurance contributions made towards an employee.

Relevant Contract Types

• Employment Contract
• Independent Contractor Agreement
• Non-Compete Agreement
• Non-Disclosure Agreement
• Partnership Agreement

Relevant Circumstances

• Hiring an employee
• Contract renewals
• Promotions and bonuses
• Staff reductions or layoffs
• Business mergers or acquisitions

Relevant Sectors

• Corporate
• Education
• Healthcare
• Information Technology
• Retail

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Genie Definition 2

• Employment Costs means all financial liabilities, such as redundancy pay, costs of unfair dismissal, and tribunal awards associated with transferring staff.

Relevant Contract Types

• Employment Agreement
• Severance Agreement
• Business Transfer Agreement
• Change in Control Agreement

Relevant Circumstances

• Employee termination, resignation, or retirement
• Mergers and acquisitions
• Business restructuring
• Employee transfers or reassignments

Relevant Sectors

• Corporate
• Government
• Non-Profit
• Real Estate
• Technology

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