Payment Eligibility Date definition

Payment Eligibility Date means the first day of the month following the end of the quarter following the quarter in which a Participant terminates employment or dies.

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Payment Eligibility Date means the first day of the month following the day on which a Participant terminates employment or dies.

Payment Eligibility Date means the first day of the month following the day on which a Participant terminates employment or dies; provided, however, that if a Participant is a Key Employee and his or her employment terminates for any reason other than death, then the Payment Eligibility Date shall mean the last day of the six-month period immediately following the Participant’s termination of employment (or, if the Participant dies prior to the end of such six-month period, the date of the Participant’s death). Notwithstanding the foregoing, a termination of employment shall not be deemed to have occurred for any purpose under the Plan unless such termination of employment constitutes a “separation from service” as defined under Section 409A (or other applicable section) of the Code and any regulations promulgated thereunder.

Examples of Payment Eligibility Date in a sentence

Upon the Payment Eligibility Date, the Institution shall pay the Director an annual benefit equal to Six Thousand and 00/100th Dollars ($6,000.00).
Upon mutual agreement by the Institution and the Director, the Payment Eligibility Date shall be the date the deferred payment of the benefit is payable.
If such election is not made in accordance with this section, the Payment Eligibility Date shall be the Normal Benefit Age.
The “Release Effective Date” is the date the Release becomes enforceable, provided that if the 60-day period for providing an enforceable Release extends into a calendar year subsequent to the year containing the Payment Eligibility Date, the Release Effective Date will be treated, solely for payment timing purposes, as occurring no earlier than the first business day of such subsequent year unless payment may be made earlier consistent with Section 409A (as defined below).
NAME Accumulated Sick Leave at January 31st, 1975 days hours hours Maximum Payout * for Payment Eligibility Date ▇.

More Definitions of Payment Eligibility Date

Payment Eligibility Date means the first day of the month following the day on which a Participant termi- nates employment or dies.

Payment Eligibility Date means (1) with respect to a Participant who is not a Key Employee, the first day of the first calendar quarter following the termination of the Participant’s employment with the Company, or (2) with respect to a Participant who is a Key Employee, the first day of the seventh month following the termination of the Participant’s employment with the Company.

Payment Eligibility Date means the date elected by the Participant pursuant to Section 3.1(h).

Payment Eligibility Date means the first day of the month following the end of the calendar quarter in which a Participant ceases to be employed by the Bank, incurs a Disability or dies.

Payment Eligibility Date means the first day of the month following the end of the calendar quarter in which a Participant has a Separation from Service with the Bank for any reason, including by reason of Disability or death, subject to the provisions of Section 3.1(h).

Payment Eligibility Date means the first day of the month following the end of the calendar quarter in which a Participant ceases to provide service to the Bank as an Eligible Director, incurs a Disability or dies.

Payment Eligibility Date means the date (which shall be the first day of a calendar quarter) specified by the Participant on a form provided by the Committee prior to July 30, 1995 or, if later, within 30 days of the date on which such person becomes a Participant. If the Participant specifies no Payment Eligibility Date, the Payment Eligibility Date shall be the first day of the calendar quarter following the Participant's death, Disability, or Termination of Employment.