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

  • 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.

  • 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.

  • A Legacy Plan Participant who terminates employment with the Company and its subsidiaries on account of a Disability and who receives benefits under the disability plan of the Company or a subsidiary until his Normal Retirement Date shall be deemed to have retired on his Normal Retirement Date under this Plan.

  • 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.

  • The payments shall commence with the month following the month in which the Legacy Plan Participant dies and shall end with the later to occur of the month in which (a) the 180th monthly payment is made or (b) the Legacy Plan Participant would have attained his Normal Retirement Date.

  • A Legacy Plan Participant whose employment with the Company and its subsidiaries terminated prior to his Early Retirement Date 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 his Early Retirement Date occurs and at least 90 days prior to his Early Retirement Date.

  • 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.

  • Benefits shall be paid in the Normal Benefit Form unless the Legacy Plan Participant, as applicable, elects an Optional Form of Benefit permitted under Section 7.2 in accordance with Sections 2.4 or 2.5.

Related to Legacy Plan Participant

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

  • 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.

  • 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).

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

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

  • SpinCo Employee has the meaning set forth in the Employee Matters Agreement.

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

  • Prospective employee means any individual who has committed to become an employee of the Company within sixty (60) days from the date an Award is granted to such individual.

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

  • 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.

  • Administrative employee means an employee who normally supervises persons engaged in office administration, construction, security or maintenance work who are represented by another trade union. This definition includes employees who share a community of interest with “supervisors”.

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

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

  • Major Participant means each Equity Member and each member of the Proposer’s organization: (a) with primary responsibility for design; (b) with primary responsibility for construction; or (c) with a proposed subcontract with a value greater than or equal to 5% of the contract price or $20 million, whichever is greater.

  • Eligible employer means an employer that:

  • 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.