Five Percent Owners Sample Clauses
The "Five Percent Owners" clause defines individuals or entities that own at least five percent of a company's stock or equity interests. In practice, this clause is used to identify significant stakeholders for purposes such as compliance with tax regulations, reporting obligations, or eligibility for certain corporate actions. By clearly specifying who qualifies as a five percent owner, the clause ensures transparency and helps the company meet legal and regulatory requirements related to ownership disclosure.
Five Percent Owners. The required beginning date of a Participant who is a five percent (5%) owner during any year beginning after December 31, 1979, is the first day of April following the later of:
(1) the calendar year in which the Participant attains age seventy and one-half (70-1/2), or
(2) the earlier of the calendar year with or within which ends the Plan Year in which the Participant becomes a five percent (5%) owner, or the calendar year in which the Participant retires. The required beginning date of a Participant who is not a five percent (5%) owner who attains age seventy and one-half (70-1/2) during 1988 and who has not retired as of January 1, 1989, is April 1, 1990.
(iii) Five percent (5%) owner. A Participant is treated as a five percent (5%) owner for purposes of this Section if such Participant is a five percent (5%) owner as defined in section 416(i) of the Code (determined in accordance with section 416 but without regard to whether the Plan is Top-Heavy) at any time during the Plan Year ending with or within the calendar year in which such owner attains age sixty-six and one-half (66-1/2) or any subsequent Plan Year.
(iv) Once distributions have begun to a five percent (5%) owner under this Section, they must continue to be distributed, even if the Participant ceases to be a five percent (5%) owner in a subsequent year.
Five Percent Owners. The required beginning date of a Participant who is a five percent (5%) owner during any year beginning after December 31, 1979, is the first day of April following the later of:
Five Percent Owners. If the Participant is a five-percent owner of the Employer during any year beginning after December 31, 1979, the Participant's required beginning date shall be the first day of April following the later of: (1) the calendar year in which the Participant attains age 70 1/2, or (2) the earlier of the calendar year with or within which ends the Plan Year in which the Participant becomes a five-percent owner or the calendar year in which the Participant retires. Once minimum distributions have commenced to a five-percent owner under this Article 8.6, they must continue to be made even if the Participant ceases to be a five-percent owner in a subsequent year. For purposes of this Article 8.6, a Participant is treated as a five-percent owner if such Participant is a five- percent owner as defined in Section 416(i) of the Code (without regard to whether the Plan is a top-heavy plan) at any time during the Plan Year ending with or within the calendar year in which such owner attains age 66 1/2 or any subsequent Plan Year.
Five Percent Owners. The Required Beginning Date of a ------------------- Participant or Former Participant who is a Five Percent Owner during any year beginning after December 31, 1979, is the first day of April following the later of:
(1) the calendar year in which the Participant attains age seventy and one-half (70 1/2) years, or
(2) the earlier of the calendar year with or within which ends the Plan Year in which the Participant becomes a Five Percent Owner, or the calendar year in which the Participant retires.