Shareholder Employee. An Employee or officer who owns [or is considered as owning within the meaning of Code Section 318(a)(1)], on any day during the taxable year of an electing small business corporation (S Corporation), more than 5% of such corporation’s outstanding stock.
Appears in 8 contracts
Samples: Participation Agreement (Sterling Chemicals Inc), Prototype Defined Contribution Plan (FNB United Corp.), Nonstandardized Adoption Agreement (Chicopee Bancorp, Inc.)
Shareholder Employee. An Employee or officer who owns [or is considered as owning within the meaning of Code Section 318(a)(1)], on any day during the taxable year of an electing small business corporation (S Corporation), more than 5% of such corporation’s 's outstanding stock.
Appears in 2 contracts
Samples: Nonstandardized Adoption Agreement (Banctrust Financial Group Inc), Measurement Specialties Inc
