Section 9.6.5 Sample Clauses
Section 965 refers to a provision in the U.S. Internal Revenue Code that requires certain U.S. shareholders to pay a one-time transition tax on untaxed foreign earnings of specified foreign corporations. This clause applies to U.S. companies with ownership in foreign subsidiaries, mandating them to include previously deferred foreign income in their taxable income, even if the earnings were not repatriated. The core practical function of Section 965 is to address the accumulation of untaxed profits offshore by U.S. multinationals, ensuring these earnings are taxed as part of the transition to a new international tax system.
Section 9.6.5. The Company will not be required to include in income following the Closing any amount as a result of an election under Section 965(h) of the Code.
Section 9.6.5. Decreases of one (1) hour or more to a job assignment during any school year shall allow the 27 affected employee to bump a less senior employee in an equivalent position within their 28 classification. Within five (5) working days following notification of reduction, said employee 29 must submit a written request to bump.
Section 9.6.5. 29 A displaced employee selected for a vacant position must either accept or reject the position within 30 twenty-four (24) hours of the receipt of an offer of employment.
Section 9.6.5. 18 An employee on a leave of absence will return to the District to the position previously held or
Section 9.6.5. 20 The District agrees to compensate employees at their regular hourly rate of pay for all District 21 required and directed staff development opportunities which take place outside of the regular 22 work day. To receive compensation, the employee must have prior approval from their 24 (40) hours per week, overtime shall be paid. 25
Section 9.6.5. Neither the Company nor any of its Subsidiaries is liable for any Tax under Section 965 of the Code or has made an election pursuant to Section 965(h) of the Code.
Section 9.6.5. The Company has not been nor will be required to include in income any amount under Section 965 of the Code.
Section 9.6.5. No ANAC Company was required to include in its gross income any subpart F income (as defined in the Code) by reason of Section 965 of the Code, and no ANAC Company has made an election, or has any liability, pursuant to Section 965(h) of the Code.