Key Employee Exception Clause Samples

Key Employee Exception a. Employees of the university who, during a period of family leave taken pursuant to I. A., B., or C., Available Leave, above, are within the top 5% of the university's employees with respect to gross income paid by the university, are "Key Employees" and may be denied leave as set out above if such leave will, as can be established by the university, cause substantial and grievous economic or other organizational harm to the university. b. Employees of the university who, during a period of family leave taken under any enabling provision, are within the top 10% of the university's employees with respect to gross income paid by the university are also "Key Employees" and may be denied reinstatement as set out above, if such reinstatement will, as can be established by the university, cause substantial and grievous economic or other organizational harm to the university. c. Key Employees must be individually noticed by the university, prior to taking leave, that they are Key Employees and that leave and/or position restoration may be denied them depending upon their Key Employee status and type of leave desired. d. An employee on leave who, during the leave, becomes a Key Employee or a Key Employee who failed to receive such notice prior to commencement of leave and who would not otherwise be entitled to leave or would not otherwise be reinstated pursuant to this provision, will be notified by the university immediately and given an opportunity to immediately return from leave with full restoration to his/her position prior to denial of further leave or denial of reinstatement.
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Key Employee Exception. (Added March 9, 2005) Notwithstanding anything contained herein to the contrary, to the extent the Executive is deemed a “key employee” for purposes of Section 409A of the Internal Revenue Code of 1986, as amended, and notwithstanding any contrary provision which exists in any of the Company’s deferred compensation plans, any distribution of deferred compensation to the Executive will be delayed for a period of 6 months after the Termination Date as required by Section 409A of the Internal Revenue Code of 1986, as amended.
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Key Employee Exception. If an employee has gross income that is within the top 10 percent of the College's employees within 75 miles of the College's primary work site during the calendar year in which leave is taken, the College reserves the right not to restore the employee to his or her prior position with the College if the College will suffer substantial and grievous economic injury to its operations because of the restoration. At the time that leave is granted under this procedure, the College will inform the employee that the employee is within the top 10 percent and also explain the possible consequence that restoration may be denied. If the College determines during the employee's leave that the employee is not to be restored to employment, the employee will be notified immediately and given the opportunity to return from leave and be restored to his or her position. If the employee does not return from leave, the employee can petition for reinstatement at the end of the leave period and will be notified, by certified mail, whether the employee will not be restored because doing so would cause the College substantial and grievous harm.
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Related to Key Employee Exception

  • Employee Eligibility For purposes of this section, “eligible employee” shall be defined by the Public Employees’ Medical and Hospital Care Act.

  • Key Employee Key employee means any employee or former employee (including any deceased employee) who at any time during the plan year that includes the determination date was an officer of the employer having annual compensation greater than $130,000 (as adjusted under Section 416(i)(1) of the Code for plan years beginning after December 31, 2002), a 5-percent owner of the employer, or a 1-percent owner of the employer having annual compensation of more than $150,000. For this purpose, annual compensation means compensation within the meaning of Section 415(c)(3) of the Code. The determination of who is a key employee will be made in accordance with Section 416(i)(1) of the Code and the applicable regulations and other guidance of general applicability issued thereunder.

  • Key Employees The Adviser is not aware that (i) any of its executives, key employees or significant group of employees plans to terminate employment with the Adviser or (ii) any such executive or key employee is subject to any noncompete, nondisclosure, confidentiality, employment, consulting or similar agreement that would be violated by either the Adviser’s present or proposed business activities, except, in each case, as would not reasonably be expected, individually or in the aggregate, to have an Adviser Material Adverse Effect.

  • Disabled Employees If an employee becomes disabled with the result that he is unable to carry out the regular functions of his position, the Hospital may establish a special classification and salary with the hope of providing an opportunity of continued employment.

  • Long-Term Disability (Employee Paid Plans) a) All permanent Teachers shall participate in the long-term disability plan (LTD Plan) as a condition of employment, subject to the terms of the LTD plan. b) The Board shall cooperate in the administration of the LTD Plan. It is understood that administration means that the Board will co-operate with the enrolment and deduction of premiums and provide available necessary data to the insurer, upon request. The Board will remit premiums collected to the carrier on behalf of the Teachers. c) Where the plan administrator implements changes in the terms and conditions of the LTD Plan or the selection of an insurance carrier, the Board shall, for administrative purposes, be advised of changes at least thirty (30) days prior to the date the changes are to be implemented.