Common use of Shareholder Employee Clause in Contracts

Shareholder Employee. If Company is an S Corporation, an Employee of Company who either individually or together with his spouse, children, grandchildren and parents, owns more than 5% of Company's outstanding stock on any day during the Plan Year.

Shareholder Employee. If the Company is an S Corporation, an Employee of the Company who either individually or together with his spouse, children, grandchildren and parents, owns more than 5% of the Company's outstanding stock on any day during the Plan Year.