Inactive Participant definition

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.

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Inactive Participant means any individual who was an Active Participant, but is no longer an Eligible Employee and who has an Account under the Plan.

Inactive Participant means a Participant who is not an Active Participant.

Examples of Inactive Participant in a sentence

• An Inactive Participant shall not be entitled to receive an allocation of contributions or forfeitures under the Plan for the period that he is not an Eligible Employee and wages and other payments made to him by the Employer or a Related Employer for services other than as an Eligible Employee shall not be included in Compensation for purposes of determining the amount and allocation of any contributions to the Account of such Inactive Participant.

• Subject to the provisions of the Plan, the Employer may direct the Trustee to transfer all or a specified portion of the Trust assets to any other plan or plans maintained by the Employer or the employer or employers of an Inactive Participant or Participants, provided that the Trustee has received evidence satisfactory to it that such other plan meets all applicable requirements of the Code.

• Such Inactive Participant shall continue to receive credit for Vesting Service completed during the period that he continues in the employ of the Employer or a Related Employer.

• If any Active Participant ceases to be an Eligible Employee, but continues in the employ of the Employer or a Related Employer, such Employee shall cease to be an Active Participant, but shall continue as an Inactive Participant until his entire Account balance is forfeited or distributed.

• If a Participant ceases to be an Eligible Employee due to a change in employment status while remaining employed by the Employer or any Affiliated Business, he shall become an Inactive Participant until he again becomes an Employee who satisfies the employment status required to become an Eligible Employee.

More Definitions of Inactive Participant

Inactive Participant means each Participant (other than a Deceased Participant) who is not actively serving as a member of the Board.

Inactive Participant means each Participant (other than a Deceased Participant or a Disabled Participant) who is not actively employed by the Company.

Inactive Participant means a Participant who is not an Employee or Director.

Inactive Participant means each Participant who is not in active service as an Outside Director and is not actively employed by a Participating Company.

Inactive Participant means any Employee or former Employee who has ceased to be a Participant and on whose behalf an Account is maintained under the Plan.

Inactive Participant means an individual who at one point was a Participant in the Plan or a predecessor non-qualified deferred compensation plan and has an undistributed Account Balance, but is no longer eligible to make deferral elections under the Plan by reason of such individual's removal under Section 2.4 hereof or otherwise.

Inactive Participant means an Active Participant who ceases to be an Employee but who remains an employee of an Affiliate which is not a Participating Employer, and who has in the Plan a Total Balance which is greater than zero. An Inactive Participant shall continue to be treated the same as an Active Participant in every respect except that no contributions of any type shall be allocated to his Accounts with the exception of those to which he may be entitled for the Plan Year in which he ceases to be an Active Participant. He shall not be allowed to make any contributions unless and until he again becomes an Active Participant.