Common use of Shareholder Employee Clause in Contracts

Shareholder Employee. The term Shareholder-Employee means, in the case of an Employer or Affiliated Employer which is an electing small business corporation, an individual who is an employee or officer of such electing small business corporation and owns, or is considered as owning within the meaning of Code Section 318(a)(1), on any day during the taxable year of such corporation, more than 5% of the outstanding stock of the corporation.

Shareholder Employee. The term Shareholder-Employee means, in the case of an Employer or Affiliated Employer which is an electing small business corporation, an individual who is an employee or officer of such electing small business corporation and owns, or is considered as owning within the meaning of Code Section 318(a)(1§318(a)(l), on any day during the taxable year of such corporation, more than 5% of the outstanding stock of the corporation.

Shareholder Employee. The term Shareholder-Employee means, means a Participant who owns more than five percent (5%) of the Employer's outstanding capital stock during any year in which the case of an Employer or Affiliated Employer which is an electing small business corporation, an individual who is an employee or officer of such electing small business corporation and owns, or is considered elected to be taxed as owning within the meaning of a Small Business Corporation under Code Section 318(a)(1), on any day during 1362(a) and who receives income from the taxable year of such corporation, more than 5% of the outstanding stock of the corporationEmployer for personal services.

Shareholder Employee. The term Shareholder-Employee means, in the case of an Employer or Affiliated Employer which is an electing small business corporation, an individual who is an employee or officer of such electing small business corporation and owns, or is considered as owning within the meaning of Code Section §318(a)(1), on any day during the taxable year of such corporation, more than 5% of the outstanding stock of the corporation.