Examples of Eligible Team Member in a sentence
Delay in Payment to Certain Eligible Team Members: Notwithstanding anything to the contrary in the Plan, if an Eligible Team Member is a “specified employee” within the meaning of Section 409A of the Code as of his or her Date of Termination, any payments otherwise due under the Plan during the six (6) month period after the Date of Termination shall be deferred and such deferred amounts will be paid during the seventh (7th) month following such six (6) month anniversary.
The severance period will begin as soon as practicable following the Revocation Period, provided that the waiver and release agreement submitted by the Eligible Team Member meets all the requirements described in Section 4.1 of this document titled “Waiver and Release Agreement” and is not revoked during the Revocation Period.
In addition, regular severance pay may be reduced for any amounts or financial obligations owed by the Eligible Team Member to Tyson Foods, an Affiliate, or any employee benefit plan established or maintained by Tyson Foods or an Affiliate, including but not limited to any overpayment of any kind and any outstanding bills, advances, relocation costs, or debts.
No Eligible Team Member or other person shall acquire by reason of the Plan any right in or title to any assets, funds, or property of the Participating Employer.
In no event shall an Eligible Team Member or any other person be entitled to challenge a decision of the Plan Administrator in court or in any other administrative proceeding unless and until the claim and appeals procedures established under the Plan have been complied with and exhausted.