Profit Sharing Participant definition

Profit Sharing Participant means an individual who has become a Profit Sharing Participant as provided in Article II and remained a Covered Employee at all times thereafter.
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Profit Sharing Participant means an individual who had a Profit Sharing Account as of December 31, 1999.
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Profit Sharing Participant means a Participant with respect to whom Excess Profit Sharing Contributions are made during a Plan Year.
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Examples of Profit Sharing Participant in a sentence

  • Any Shareholder holding the Class C Ordinary Shares (in respect of the Class C Ordinary Shares only and without prejudice to their rights attached to other Equity Securities) shall not be deemed as a Profit Sharing Participant for the purposes of Part A of Exhibit E or the Interim Sale Profit Sharing Mechanism in Section 6.3, as applicable, but shall nonetheless be entitled to receive the Distributed Proceeds and Sale Proceeds in its Pro Rata Portion as a Shareholder.

  • Participant -- An Incentive Compensation Participant or a Profit Sharing Participant, whichever is applicable.

  • Profit Sharing Participant -- A person who, on his/her Employee Service Record Form UG 100 or any successor thereof, is classified, for at least part of the Profit Sharing Year for which the Profit Sharing Payment is being made, as a regular full- time or regular part-time management employee, is not an Incentive Compensation Participant and, on December 31 of that Profit Sharing Year, is actively employed in any job classification, has retired.

  • There is a sense that producing the report more regularly than the current four-year interval would enhance its usefulness.


More Definitions of Profit Sharing Participant

Profit Sharing Participant means each Participant who (A) is not eligible to accrue future benefits under the AGL Resources Inc. Retirement Plan or any other defined benefit pension plan maintained by the Affiliates; (B) is a Covered Employee; (C) has reached the first day of the first pay period with his or her Employer after completing at least one Year of Service; and (D) either: (1) is employed by an Employer on the last day of the Plan Year, or (2) terminated employment with the Affiliates during the Plan Year due to death, due to Disability (as defined in Section 7.2(b)), after reaching age 65, or after reaching age 55 and completing 10 Years of Service.
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Profit Sharing Participant means any person employed by the Company provided:
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Related to Profit Sharing Participant

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

  • Profit Sharing Plan means a profit-sharing plan that is qualified pursuant to 26 U.S.C. § 401 of the Internal Revenue Code and subject to the Employee Retirement Income Security Act, and which provides for employer contributions in the form of cash, but not in the form of stock or other equity interests in a Medical Marijuana Business.

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

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

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

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.

  • 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.

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

  • 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.

  • 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).

  • Employer Contribution means the amount paid by an employer, as determined by the employer rate, including the normal and deficiency rates, contributions, and funds wherever used in this chapter.

  • Matching Contribution means Employer contributions made to this Plan or any other defined contribution plan by reason of Thrift Contributions or Elective Deferrals under this Plan.

  • Eligible employer means any municipality with a municipal

  • 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.

  • 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.

  • Elective Deferral Account means the account established hereunder to which Elective Deferrals (including a separate accounting for Catch-Up Contributions) are allocated. Amounts in the Participant's Elective Deferral Account are nonforfeitable when made and are subject to the distribution restrictions of Section 12.2(e). The Elective Deferral Account may consist of the

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

  • Plan Year means the calendar year.

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

  • Deferral Contribution means any contribution made to the Plan by the Employer in accordance with the provisions of Section 5.03.

  • 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.

  • Retirement fund means the "Washington law enforcement

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

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

  • Elective Contribution means the Employer contributions to the Plan of Deferred Compensation excluding any such amounts distributed as excess “annual additions” pursuant to Section 4.11(a). In addition, any Employer Qualified Non-Elective Contribution made pursuant to Section 4.7(b) which is used to satisfy the “Actual Deferral Percentage” tests shall be considered an Elective Contribution for purposes of the Plan. Any contributions deemed to be Elective Contributions (whether or not used to satisfy the “Actual Deferral Percentage” tests or the “Actual Contribution Percentage” tests) shall be subject to the requirements of Sections 4.2(b) and 4.2(c) and shall further be required to satisfy the nondiscrimination requirements of Regulation 1.401(k)-1(b)(5) and Regulation 1.401(m)-1(b)(5), the provisions of which are specifically incorporated herein by reference.