Protected Participant definition

Protected Participant means a Participant who is an Employee when a Change in Control of the Corporation occurs.
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Protected Participant means an Eligible Employee that the Committee determines to be either (i) identified as of October 16, 1990 under the Prior Plan or (ii) subject to an employment contract, offer letter or similar agreement with Citicorp or one of its affiliates that requires such Eligible Employee to participate in the Plan in accordance with the terms in effect prior to the Effective Date.
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Examples of Protected Participant in a sentence

  • The Corporation shall pay to a Protected Participant or a Protected Participant’s surviving spouse all legal fees and expenses incurred by the Protected Participant or the Protected Participant’s surviving spouse in making a claim for benefits or otherwise in seeking to obtain or enforce any right or benefit provided by this Plan.

  • In the case of a Participant (other than a Protected Participant) who dies before attaining the Early Retirement Date, no benefits under this Plan are payable after the Participant’s death.

  • In the case of any Protected Participant who dies at any time, except as otherwise provided in Section 5(c), the Protected Participant’s surviving spouse, if any, is entitled to receive the spouse’s death benefit described in Section 5(b).

  • Except in the case of a Protected Participant, if the Participant’s Termination Date occurs before the Participant attains the Early Retirement Date, the Participant’s (and the surviving spouse’s) right to benefits under this Plan shall be completely forfeited.

  • The spouse’s death benefit under this Section 5(b) shall be a monthly payment for the spouse’s life beginning on the first day of the calendar month coincident with or immediately following the date of the Participant’s death (or, in the case of a Protected Participant only, the date that would have been the Protected Participant’s 55th birthday, if later than his or her date of death).

  • In the case of a Participant (other than a Protected Participant) who dies after attaining the Early Retirement Date, except as otherwise provided in Section 5(c), the Participant’s surviving spouse, if any, is entitled to receive the spouse’s death benefit described in Section 5(b).

  • A “Protected Benefit”, as determined under Sections 4.2(b) and 4.3(b), is a benefit which is only applicable to a Protected Participant.

  • In the case of a Protected Participant or his or her surviving spouse, all of the Protected Participant’s right to benefits under this Plan (except the surviving spouse’s right to receive death benefits under Section 5) shall be completely forfeited if the Protected Participant dies before his or her Payment Date.

  • Notwithstanding the foregoing, for three years following a Change-of-Control: (a) the Plan may not be amended in any manner adverse to any individual who is a Participant in the Plan immediately before the Change-of-Control (a "Protected Participant"), or a beneficiary of a Protected Participant; and (b) the Plan may not be terminated with respect to Protected Participants and their beneficiaries.

  • In the case of a Protected Participant or his or her surviving spouse, all of the Protected Participant’s right to benefits under this Plan (except the surviving spouse’s right to receive death benefits under Section 5) shall be completely forfeited if the Protected Participant dies before his or her Benefit Determination Date.

Related to Protected Participant

  • 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).

  • 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.

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

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

  • 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.

  • Other Participant means a cooperative project participant other than the United States.

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

  • 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.

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

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

  • Designated Participant means such employees or officers of the Company or a related entity of the Company as the Board may designate from time to time as eligible to participate in the Plan;

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

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

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

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

  • A Participant or beneficiary ("claimant") who has not received benefits under the Plan that he or she believes should be paid shall make a claim for such benefits as follows:

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

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

  • 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.

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

  • First Tier Participant refers to the participant who has entered into a covered transaction with a grantee or subgrantee of Federal funds (such as the prime or general contractor). “Lower Tier Participant” refers any participant who has entered into a covered transaction with a First Tier Participant or other Lower Tier Participants (such as subcontractors and suppliers).

  • U.S. Participant means a Participant who is a citizen of the United States or a resident of the United States, as defined in section 7701(a)(30)(A) and section 7701(b)(1) of the Code and any other Participant who is subject to tax under the Code with respect to compensatory awards granted pursuant to the Plan;

  • Study Participant means a person recruited to participate in the Study.

  • Clearing Participant means a person admitted as a participant under the Clearing Rules.

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