Legacy Plan Participant definition

Legacy Plan Participant means such term as is defined in the Legacy Plan.
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Legacy Plan Participant means any Vested Participant or Eligible Employee who, as of the Amendment Effective Date, is:
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Legacy Plan Participant means (i) either a Legacy Rohm and Haas Plan Participant or a Legacy Morton Plan Participant, as defined below (collectively referred to as "Legacy Plan Participants") who irrevocably elected in 2001, through the Pension Choice process, to remain covered by the benefit structure of a Legacy Plan and (ii) Eligible Employees of Morton International, Inc. who are hired on or after January 1, 2001 and are not eligible to participate in the Standard portion of the Plan.
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Examples of Legacy Plan Participant in a sentence

  • If a Participant who is not a Legacy Plan Participant separates from service prior to the date that the Participant would have become vested in the Legacy Plan had the Participant been a Legacy Plan Participant, the Participant forfeits the benefits accrued pursuant to Article IV hereunder.

  • Conversely, if the Participant would have had a vested interest in benefits under the Legacy Plan had the Participant been a Legacy Plan Participant, the Participant has a similarly vested interest in the corresponding benefits pursuant to Article IV under this Supplemental Plan.

  • The rights and benefits of a Legacy Plan Participant shall not be governed by the terms of this Plan.

  • Subject to Section 6.1, the beneficiary of a Legacy Plan Participant who dies while not in the employ of the Company or a subsidiary but before he has attained his Normal Retirement Date, shall be entitled to a monthly death benefit with 120 monthly payments guaranteed commencing with the month following the month in which the Legacy Plan Participant dies equal to the Monthly Base Benefit Amount under Section 1.20.

  • The Plan Account of each Participant (other than a Legacy Plan Participant) shall be credited with a Retirement Contribution based on a percentage of his or her Compensation for a Plan Year provided that the Participant is an Eligible Employee on the last day of such Plan Year.

  • For purposes of calculating such a Legacy Plan Participant's Monthly Base Benefit Amount under Section 1.20 (a), "Years of Service" shall include all periods during which the Legacy Plan Participant received disability benefits up to his Normal Retirement Date or the Amendment Effective Date, as applicable, and (b) "Compensation" for each Plan Year during the Disability shall mean the Legacy Plan Participant's Compensation for the last full Plan Year of his active employment.

  • This Section 4.4 shall apply to any Participant who is not a Legacy Plan Participant.

  • The beneficiary of a Legacy Plan Participant shall have the right to postpone the commencement of benefits under this Section 8.2 until a later month designated by the beneficiary, but not later than the calendar month next following the month in which the Legacy Plan Participant's 65th birthday would have occurred.

  • A Legacy Plan Participant who terminates employment with the Company and its subsidiaries on his Normal Retirement Date shall receive a monthly retirement benefit equal to his Monthly Base Benefit Amount calculated as a Normal Benefit Form and payable in the Normal Benefit Form, or Optional Form of Benefit if properly elected pursuant to Section 2.4 and subject to any applicable penalties under Section 2.5, commencing on his Designated Benefit Commencement Date.

  • A Legacy Plan Participant may elect to receive an Early Retirement Benefit hereunder by filing a Benefit Election Form with the Administrator no later than December 31 in the year prior to the year in which he terminates employment with the Company and at least 90 days prior to his Designated Benefit Commencement Date.

Related to Legacy Plan Participant

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

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

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

  • Participating employee means an employee whose election to participate in a Plan has been approved by the employer.

  • 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).

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

  • CDS Participant means a broker, dealer, bank or other financial institution or other person for whom, from time to time, CDS effects book entries for the Units deposited with CDS.

  • SpinCo Employee means any individual who, immediately following the Distribution Date, will be employed by Spinco or any member of the Spinco Group in a capacity considered by Spinco to be common law employment, including active employees and employees on vacation and approved leaves of absence (including maternity, paternity, family, sick, short-term or long-term disability leave, qualified military service under the Uniformed Services Employment and Reemployment Rights Act of 1994, and leave under the Family Medical Leave Act and other approved leaves).

  • Prospective employee means an assessed individual who is anticipated to be hired upon completion of training.

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

  • Section 162(m) Participant means any key Employee designated by the Administrator as a key Employee whose compensation for the fiscal year in which the key Employee is so designated or a future fiscal year may be subject to the limit on deductible compensation imposed by Section 162(m) of the Code.

  • Current Participant means a Class Member who has an Active Account in one or both the Plans as of August 5, 2020.

  • Active Employee means a contributing member of the TRS who is employed by a public school and is not entitled to coverage under a plan provided under Insurance Code Chapter 1551 (Texas Em- ployees Group Benefits Act) or 1601 (State University Employees Uniform Insurance Benefits Act).

  • Covered Employer means the City of Cambridge or a Beneficiary of Assistance.

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

  • Participating Employer means any trade or business (whether or not incorporated) which adopts this Plan with the consent of the Company identified in the Adoption Agreement.

  • 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.

  • Qualified Participant means a Participant who has attained age 55 and who has completed at least 10 years of participation in the Plan.

  • Retirement Plans means the retirement income, supplemental executive retirement, excess benefits and retiree medical, life and similar benefit plans providing retirement perquisites, benefits and service credit for benefits at least as great in the aggregate as are payable thereunder prior to a Change in Control;

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

  • Eligible employer means any municipality with a municipal

  • 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.

  • Newly hired employee or “New Hire” means any employee, whether permanent, full-time, or part-time, hired by the Office and who is still employed as of the date of new employee orientation. It also includes all employees who are or have been previously employed by the Office and whose current position has placed them in the bargaining unit represented by CSEA. For those latter employees, for purposes of this article only, the “date of hire” is the date upon which the employees’ employment status changed as such that the employee was placed in the CSEA unit.