How is Personnel Costs defined in a legal contract?
- Personnel Costs means the expenses associated with researchers, technicians, and other supportive staff involved in a particular project or activity. Seen in 53 SEC filings.
- Personnel Costs means the reasonable costs associated with employing staff or contracted personnel, including but not limited to salaries, benefits (such as car expenses or allowances), travel, lodging, meals, and office and computing supplies. Seen in 14 SEC filings.
- Personnel Costs means all expenses an employer incurs in relation to the employment of staff, including salary, bonuses, payroll taxes and benefits, but excluding share-based compensation. Seen in 13 SEC filings.
- Personnel Costs means the total cash compensation, costs of training programs, hiring expenses, severance payments, payroll taxes, workers’ compensation, travel expenses, incentive programs (e.g., workers’ compensation and risk management related incentive programs) and employee fringe benefits payable to such personnel. Seen in 12 SEC Filings
- Personnel Costs means expenses associated with the employment of staff by an employer, including all payroll and benefits but excluding share-based compensation and severance costs (other than for Seconded Personnel). Seen in 10 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.
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.
Genie Definition 1
- Personnel Costs means the expenses incurred for employing staff, covering salaries, benefits, and other essential costs related to their role.
Relevant Contract Types
Relevant Circumstances
- When hiring new employees or re-evaluating a current employee's compensation package
- When negotiating terms with an independent contractor or consultant
- When budgeting or reviewing financial records of the company
Relevant Sectors
Genie Definition 2
- Personnel Costs means payments like salaries, training expenses, hiring costs, severance payments, and employee benefits.
Relevant Contract Types
Relevant Circumstances
- When outsourcing tasks or projects to third-party companies
- When forming a partnership where employees from both parties will be involved
- When drafting a service agreement involving personnel from one party providing services to the other
Relevant Sectors
Personnel Costs means the expenses incurred for employing staff, covering salaries, benefits, and other essential costs related to their role.
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