Eligible Executive definition

Eligible Executive means an employee of the Company selected as being eligible to participate in this Plan under Section C.1.a.

Eligible Executive means any employee of the Company or an Affiliate of the Company who (i) is designated by the Committee as an “Eligible Executive” who is eligible to participate in the Plan; (ii) has executed and returned a Participation Agreement to the Company; (iii) is not covered under any other severance plan, policy, program or arrangement sponsored or maintained by the Company or any of its Affiliates; and (iv) is not a party to an employment or severance agreement with the Company or any of its Affiliates pursuant to which such employee is eligible for severance payments or benefits. The Committee shall have the sole discretion to determine whether an employee is an Eligible Executive. Eligible Executives shall be limited to a select group of management or highly compensated employees within the meaning of Sections 201, 301 and 401 of ERISA.

Eligible Executive means a highly compensated or management level employee or Director of the Company selected by the Committee to be eligible to participate in the Plan.

Examples of Eligible Executive in a sentence

• Neither an Eligible Executive nor any other person shall have any right to sell, assign, transfer, pledge, anticipate or otherwise encumber, transfer, hypothecate or convey any amounts payable under the Plan prior to the date that such amounts are paid.

• Employment with the Company is at-will, and may be terminated by either the Company or the Eligible Executive at any time for any reason.

• All payments and benefits that become due to an Eligible Executive under the Plan will inure to the benefit of his or her heirs, assigns, designees or legal representatives.

• Notwithstanding the foregoing, the Company makes no representations that the payments and benefits provided under the Plan are exempt from, or compliant with, Section 409A and in no event shall the Company or any of its Affiliates be liable for all or any portion of any taxes, penalties, interest or other expenses that may be incurred by any Eligible Executive on account of non-compliance with Section 409A.

• If the Administrator determines that an executive is no longer an Eligible Executive, he or she shall remain a Participant in the Plan until all amounts credited to his or her Account prior to such determination are paid out under the terms of the Plan (or until death, if earlier).

More Definitions of Eligible Executive

Eligible Executive means the Corporation’s Chief Executive Officer and any other executive officer or other employee of the Corporation designated by the Committee.

Eligible Executive means a highly compensated or management level employee of an Employer selected by the Committee to be eligible to participate in the Plan.

Eligible Executive means the Company's Chief Executive Officer and each other executive officer of the Company or subsidiary that the Committee determines, in its discretion, is or may be a “covered employee” of the Company within the meaning of Section 162(m) of the Code and section 1.162-27(c)(2) of the Regulations.

Eligible Executive means an Executive who is eligible to participate in the Plan as provided in Section 2.01.

Eligible Executive means the Company's Chief Executive Officer and any other designated executive officer of the Company that in the Committee's judgment could, in the absence of the Plan, be paid compensation the deductibility of which, to the Company, could be limited by Section 162(m) of the Code.

Eligible Executive means an individual who is classified as an Executive Employee and:

Eligible Executive means those persons described in Article IV hereof.