After Separation From Service Sample Clauses

After Separation From Service. 10.6(c)(1)
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After Separation From Service. Subject to the rules in this section 9, section l0, Benefit Payment Forms - Joint and Survivor Annuity Requirements, and section 11, Minimum Distribution Requirements, the nonforfeitable portion of each Participant's Account (as determined in accordance with section 8) shall not be payable to such Participant before he or she separates from service with the Employer and all Affiliates.
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After Separation From Service. Subject to the rules in this (S)9, (S)10, Benefit Payment Forms - JOINT AND SURVIVOR ANNUITY REQUIREMENTS, and (S)11, MINIMUM DISTRIBUTION REQUIREMENTS, the nonforfeitable portion of each Participant's Account (as determined in accordance with (S)8) shall not be payable to such Participant before he or she separates from service with the Employer and all Affiliates.
Sample 1
After Separation From Service. If, after the Executive incurs a Separation from Service, a Change of Control Event occurs (which shall be considered an intervening event for purposes of Code Section 409A that permits an acceleration of payments), and the Executive or Spouse, as applicable, has not yet received all amounts due under the SERP, then the Employer shall cash out, in a single lump sum payment amount, the present value of any remaining payments yet to be made to or on behalf of the Executive. Present value in this situation shall be determined as of the first day of the month following the month in which the Change of Control Event is determined to have occurred and shall be based on the assumption that the recipient of the monthly payments has the life expectancy assigned to a person of the same age under the Funded Plan’s general mortality assumptions used for funding purposes. The Applicable Interest Rate shall be used to determine present value.
Sample 1

Related to After Separation From Service

  • Separation from Service A termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the payment of any amounts or benefits upon or following a termination of employment unless such termination also constitutes a “Separation from Service” within the meaning of Section 409A and, for purposes of any such provision of this Agreement, references to a “termination,” “termination of employment,” “separation from service” or like terms shall mean Separation from Service.

  • Death After Separation from Service But Before Benefit Distributions Commence If the Executive is entitled to benefit distributions under this Agreement, but dies prior to the commencement of said benefit distributions, the Bank shall distribute to the Beneficiary the same benefits that the Executive was entitled to prior to death except that the benefit distributions shall commence within thirty (30) days following receipt by the Bank of the Executive’s death certificate.

  • Separation from Employment Employees who leave the District with a vacation balance shall have their vacation balance cashed out. If vacation is loaded on July 1st, the vacation balance shall be pro-rated prior to cash out.

  • Termination of Employment Executive's employment hereunder may be terminated under the following circumstances:

  • Specified Employee Notwithstanding anything in this Agreement to the contrary, if Executive is deemed by the Company at the time of Executive’s Separation from Service to be a “specified employee” for purposes of Section 409A, to the extent delayed commencement of any portion of the benefits to which Executive is entitled under this Agreement is required in order to avoid a prohibited distribution under Section 409A, such portion of Executive’s benefits shall not be provided to Executive prior to the earlier of (i) the expiration of the six-month period measured from the date of Executive’s Separation from Service with the Company or (ii) the date of Executive’s death. Upon the first business day following the expiration of the applicable Section 409A period, all payments deferred pursuant to the preceding sentence shall be paid in a lump sum to Executive (or Executive’s estate or beneficiaries), and any remaining payments due to Executive under this Agreement shall be paid as otherwise provided herein.

  • Distributions on Account of Separation from Service If and to the extent required to comply with Section 409A, no payment or benefit required to be paid under this Agreement on account of termination of the Executive’s employment shall be made unless and until the Executive incurs a “separation from service” within the meaning of Section 409A.

  • Exercise After Termination of Employment (A) Except as otherwise provided in this Agreement, the OPTION shall be exercisable only while the OPTIONEE is in the employment of the COMPANY and then only if the OPTION has become exercisable by its terms, and if not exercisable by its terms at the time the OPTIONEE ceases to be in the employment of the COMPANY, shall immediately expire on the date of termination of employment.

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