Group III Participant definition

Group III Participant means any Participant that is not a Group I Participant or Group II Participant.
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Group III Participant means each senior management-level employee of a Participating Company who (i) is on the U.S. payroll, (ii) is not a party to any other retention and/or severance agreement with the Participating Company Group that is not otherwise waived in accordance with Section 2.10, (iii) for the period commencing immediately before the Effective Date and ending on the Change of Control Date is continuously classified by the Company in its personnel records as a Director or Senior Director (or such other position determined by the Company prior to the Change of Control as equivalent thereto) or any more senior role of a Participating Company and (iv) as of the Change of Control Date is classified by the Company in its personnel records as a Director or Senior Director (or such other position determined by the Company prior to the Change of Control as equivalent thereto) of the Company.
Sample 1
Group III Participant means all other officers of the Company or its Subsidiaries designated by (a) the Plan Administrator or (b) the Company’s Chief Executive Officer; provided, that, the Chief Executive Officer may only designate officers who are Vice Presidents or above and who are required to enter into Non-Competition Agreements (or substantially similar non-competition agreements) by the Company. The Plan Administrator may delegate authority to designate additional Group III Participants to any officer of the Company. Without the written consent of the affected Participant, in the event of a Change of Control, a Participant who otherwise qualifies as a Group III Participant as of the Closing Time cannot thereafter be removed as a Group III Participant during the Protection Period (unless such removal is to designate such Group III Participant as a Group I or Group II Participant).
Sample 1

Examples of Group III Participant in a sentence

  • A Matching Allocation determined as follows will be made each calendar quarter to the Matching Account of each eligible Group I Participant, Group II Participant, and Group III Participant who has satisfied the applicable requirements of Sec.

Related to Group III Participant

  • Active Participant means, with respect to any day or date, a Participant who is in Service on such day or date; provided, that a Participant shall cease to be an Active Participant (i) immediately upon a determination by the Committee that the Participant has ceased to be an Employee or Independent Contractor, or (ii) at the end of the Plan Year that the Committee determines the Participant no longer meets the eligibility requirements of the Plan.

  • FTR Participant means any Market Participant that provides or is required to provide Collateral in order to participate in PJM’s FTR auctions.

  • Retired Participant means a person who has been a Participant, but who has become entitled to retirement benefits under the Plan.

  • L/C Participant shall have the meaning provided in Section 3.3(a).

  • Eligible Participant means an employee, officer, consultant or director of the Company or any Affiliate.

  • Covered Participant means a Participant who is a “covered employee” as defined in Section 162(m)(3) of the Code, and the regulations promulgated thereunder, and any individual the Committee determines should be treated as such a covered employee.

  • Qualified Participant means an individual who is a participant of Tier 2 and who meets 1 of the following requirements:

  • Inactive Participant means each Participant (other than a Retired Participant, Deceased Participant or Disabled Participant) who is not in active service as an Outside Director and is not actively employed by a Participating Company.

  • Program participant means an individual certified by the secretary as a program participant under Iowa Code section 9E.3.

  • Disabled Participant with respect to a loan if it has no right to exercise any voting or other control rights with respect to such loan (other than the right to approve amendments to the material economic terms of such loan).

  • Principal Participant means any of the following entities:

  • Former Participant means a person who has been a Participant, but who has ceased to be a Participant for any reason.

  • Employee Participant means an Employee who holds an outstanding Award under the terms of the Plan.

  • CDS Participant means a participant in CDS that holds security entitlements in Units on behalf of beneficial owners of those Units;

  • Designated Participant means such employees or officers of the Company or a related entity of the Company as the Board may designate from time to time as eligible to participate in the Plan;

  • Terminated Participant means a person who has been a Participant, but whose employment has been terminated other than by death, Total and Permanent Disability or retirement.

  • Eligible employer means an employer that:

  • Lower Tier Participant refers any participant who has entered into a covered transaction with a First Tier Participant or other Lower Tier Participants (such as subcontractors and suppliers).

  • Participant has the meaning specified in Section 10.06(d).

  • Plan Participant means a person who is eligible to receive, and is receiving, a pension benefit from the Plan.

  • Current Participant means a person who participated in the Plan during the Class Period and had an Active Account on May 11, 2018.

  • Eligible Earnings means the Grantee's base salary (prior to any deferrals under a cash or deferred compensation plan sponsored by the Corporation or an Affiliate) paid during the Plan Year. From time to time the Plan Administrator may, in its sole discretion, establish rules for determining the amounts of Eligible Earnings for employees who become Grantees other than on the first day of a Plan Year as well as any reduction of Eligible Earnings as a result of paid leave of absences.

  • Eligible Employee means full-time and part-time employees in the bargaining unit who have completed four hundred and fifty (450) hours of service and who are not prohibited from contributing to the Plan by legislation or the Plan rules because of their age or because they are in receipt of a pension from the Plan.

  • Loan Participant means each Purchaser and its respective successors and registered assigns, including any Certificate Holder.

  • Other Participant means a cooperative project participant other than the United States.

  • Non-U.S. Participant means any Participant that if it were a Lender would qualify as a Non-U.S. Lender.