Group II Participant definition
Examples of Group II Participant in a sentence
However, on the Effective Date you will cease to be a Group I Participant and will become a Group II Participant in the CIC Plan by virtue of your ceasing to be a member of Amgen's Operating Committee.
If a Participant under this Plan is entitled to a SSORP Component and is a Group II Participant in the SSORP, the SSORP Component shall be converted from the form of a single life annuity to a lump sum and then paid in five installments, with the first installment paid within the 90-day period beginning on the Participant’s Benefit Commencement Date specified in Section 4.7 (but subject to Section 5.1) and the last four installments paid on anniversaries of the Benefit Commencement Date.
A Group II Participant shall be credited with a Company Matching Contribution equal to 4.5% of his/her Basic Compensation for each payroll period during which he/she is deferring at least 6% of Basic Compensation.
The Company has not violated any current effective PRC laws and regulations on social insurance and housing reserve fund, including the requirements on payments of social insurance and housing reserve fund for employees; there is neither employment litigation nor arbitration that may cause Material Adverse Effect on business of the Company, nor any pending or, to the knowledge of the Company, threatened strikes and disputes with labor unions or other labor organizations.
A Group II Participant shall be fully vested in his/her Company Basic Contributions upon completion of three years of Vesting Service.