Common use of Status Change Clause in Contracts

Status Change. Generally, if an employee performs services both as an employee and an independent contractor, the employee must separate from service both as an employee and as an independent contractor pursuant to standards set forth in Treasury Regulations to be treated as having a separation from service. However, if an employee provides services to affiliates as an employee and as a member of the Board of Directors, the services provided as a director are not taken into account in determining whether the employee has a separation from service as an employee for purposes of this Agreement.

Status Change. Generally, if an employee performs services both as an employee and an independent contractor, the employee must separate from service both as an employee and as an independent contractor pursuant to standards set forth in Treasury Regulations to be treated as having a separation from service. However, if an employee provides services to an employer or its affiliates as an employee and as a member of the Board of DirectorsBoard, the services provided as a director are not taken into account in determining whether the employee has a separation from service as an employee for purposes of this Agreement.

Status Change. Generally, if an employee performs services both as an employee and an independent contractor, the employee must separate from service both as an employee and as an independent contractor pursuant to standards set forth in Treasury Regulations to be treated as having a separation Separation from serviceService. However, if an employee Employee provides services to affiliates the Corporation or any of its Affiliates as an employee and as a member of the Board of Directors, the services provided as a director are not taken into account in determining whether the employee Employee has a separation from service as an employee for purposes of this Agreement.

Status Change. Generally, if an employee Employee performs services both as an employee and an independent contractor, the employee Employee must separate from service both as an employee employee, and as an independent contractor pursuant to standards set forth in Treasury Regulations Regulations, to be treated as having a separation Separation from serviceService. However, if an employee Employee provides services to affiliates the Company as an employee and as a member of the Board of Directors, the services provided as a director are not taken into account in determining whether the employee Employee has a separation Separation from service Service as an employee for purposes of this Agreement.

Status Change. Generally, if an employee Employee performs services both as an employee and an independent contractor, the employee Employee must separate from service both as an employee and as an independent contractor contractor, pursuant to standards set forth in the applicable regulations promulgated by the Secretary of Treasury Regulations under Code Section 409A (“Treasury Regulations”), to be treated as having a separation from service. However, if an employee Employee provides services to affiliates the Company as an employee and as a member of the Board of DirectorsBoard, the services provided as a director are not taken into account in determining whether the employee Employee has a separation from service as an employee for purposes of this Agreement.

Status Change. Generally, if an employee performs services both as an employee and an independent contractor, the employee must separate from service both as an employee and as an independent contractor pursuant to standards set forth in Treasury Regulations to be treated as having a separation from service. However, if an employee provides services to affiliates as an employee and as a member of the Board of DirectorsBoard, the services provided as a director are not taken into account in determining whether the employee has a separation from service as an employee for purposes of this Agreement.