Qualified Separation definition

Qualified Separation means a separation from service (i) on or after attaining Normal Retirement Age, (ii) on account of Disability, or (iii) on account of death.
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Qualified Separation has the meaning set forth in Section 5.
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Qualified Separation means a termination of employment (i) on or after attaining Normal Retirement Age, (ii) on account of Disability, or (iii) on account of death.
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Examples of Qualified Separation in a sentence

  • The severance payments described above will be paid in accordance with the Company’s standard payroll procedures, and, subject to your satisfaction of the Release Requirement (as defined below), will commence on the first payroll date that follows the Release Effective Date, and once they commence will be retroactive to the date of your Qualified Separation.

  • Upon termination of the Grantee’s employment with the Company for any reason other than death, Disability, Qualified Separation from Service with accelerated vesting by the Committee, or a termination without Cause following a Change in Control, all unvested Restricted Stock Units shall be immediately forfeited to the Company.

  • Unvested Shares shall become Vested Shares upon the date of the Participant’s (i) death, (ii) disability, (iii) attainment of age 65, or (iv) Qualified Separation From Service (as defined in the Plan), subject to any additional limitations necessary to ensure that the grant of Awarded Shares is not subject to interest and penalties under Section 409A of the Code and the regulations thereunder.

  • In addition, if a Change in Control (as defined below) is consummated and a Qualified Separation occurs within the Change in Control Period, then 100% of the then-unvested portion of any stock option or restricted stock award issued to you by the Company shall vest as of the Release Effective Date.

  • If the Grantee’s employment is terminated due to a Qualified Separation from Service, the Committee may determine, in its sole discretion, that all remaining unvested Restricted Stock Units shall be 100% vested a of such termination date.

  • Qualified Separation shall mean a separation by an employee from the active employ of an Affiliate (i) on or after his obtaining Normal Retirement Age, (ii) on account of his becoming Disabled, (iii) due to his death, or (iv) on account of a Leave of Absence or Maternity or Paternity Leave.

  • In the case of Unvested Class C Units that are exchanged and/or redeemed pursuant to this Section 5(b) following a Qualified Separation, the Common Units and/or Shares received upon the exchange and/or redemption of such Class C Units shall be subject to the same vesting terms and conditions as such Class C Units.

  • His Employment, if any, is not terminated prior to his Qualified Retirement Date or Qualified Separation Date, if any, because of unsatisfactory job performance or one or more violations of the Company’s Disciplinary Guidelines or Code of Conduct.

  • Unvested Shares shall become Vested Shares upon the date of the Participant’s (i) death, (ii) disability, (iii) attainment of age 65, or (iv) Qualified Separation From Service (as defined in the Plan), subject to any additional limitations necessary to ensure that the grant of Shares is not subject to interest and penalties under Section 409A of the Code and the regulations thereunder.

  • Any amounts subsequently allocated to the ESOP Account of a Participant who incurs a Qualified Separation shall be distributed as soon as administratively practicable following the date of such allocation.


More Definitions of Qualified Separation

Qualified Separation means where Xx. Xxxx voluntarily resigns as an officer of Bancshares and the Bank and, in the sole discretion of Bancshares, determines that Xx. Xxxx continues to add value to Bancshares and the Bank. Factors to be considered in this determination include, but are not limited to: (1) Xx. Xxxx'x promotion and support of the interests of the Bank in the marketplace and community; (2) Xx. Xxxx'x promotion and support of the interests of the Bank with clients, venture capitalists and prospective Bank clients; (3) Xx. Xxxx'x promotion and support of the interests of the Bank through civic activities; (4) Xx. Xxxx'x continued service to the Bank (i.e., as a consultant); (5) Xx. Xxxx'x continued addition of value to a Bank-related project; or (6) Xx. Xxxx providing referrals to the Bank. Bancshares' shall make this determination one time only, within three (3) months following Xx. Xxxx'x separation.
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Qualified Separation means a separation by an Employee from the active employ of an Affiliate (i) on or after his attaining Normal Retirement Age, (ii) on account of his becoming Disabled, or (iii) due to his death.
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Qualified Separation has the meaning set forth under Severance Benefits above.
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Related to Qualified Separation

  • Qualified service provider means a Person with specific educational training or at least two years of experience in delivering the Supportive Service(s).

  • Qualified Sale means a sale made by a qualified person through a charitable auction.

  • Qualifying Company means a qualifying company within the meaning of section 110 of the Taxes Act;

  • Qualifying contribution means, with respect to a

  • Qualifying Transaction means a transaction where a CPC acquires Significant Assets, other than cash, by way of purchase, amalgamation, merger or arrangement with another Company or by other means.

  • Qualified Settlement Fund or “Settlement Fund” means the interest-bearing, settlement fund account to be established and maintained by the Escrow Agent in accordance with Article 5 herein and referred to as the Qualified Settlement Fund (within the meaning of Treas. Reg. § 1.468B-1).

  • qualified supplier means a supplier that a procuring entity recognises as having satisfied the conditions for participation;

  • Qualified Non-Elective Contribution means any Employer contributions made pursuant to Section 4.1(c) and Section 4.6(b) and Section 4.8(f). Such contributions shall be considered an Elective Contribution for the purposes of the Plan and may be used to satisfy the "Actual Deferral Percentage" tests or the "Actual Contribution Percentage" tests.

  • Qualifying Termination means a termination of the Executive’s employment either (i) by a Company Group member without Cause (excluding by reason of Executive’s death or Disability) or (ii) by the Executive for Good Reason, in either case, during the Change in Control Period (a “Qualifying CIC Termination”) or outside of the Change in Control Period (a “Qualifying Non-CIC Termination”).

  • Qualifying Acquisition has the meaning specified in Section 5.03.

  • Qualified Retirement means a retirement from Service by the Executive in which, at the time of such retirement, the sum of the Executive’s age and aggregate 12-month completed periods of Service (whether or not such completed 12-month periods are consecutive), in each case without giving credit for any partial years, equals or exceeds 75.

  • Qualified wages means wages you paid during the one-year period beginning with the date an ex-offender begins working for you. Only wages that are subject to unemployment tax under IRC Section 3306 qualify. This includes amounts in excess of the maximum taxable wage. Wages paid during any period for which you received federally funded payments for on-the-job training for the ex-offender do not qualify.

  • Qualified distribution means a distribution from a Roth Elective Deferral Account after the Participant has satisfied a five year tax holding period and has attained age 59½, died, or become Disabled, in accordance with Code Section 402A(d). The five year tax holding period is the period of five consecutive taxable years that begins with the first day of the first taxable year in which the Participant makes a designated Roth Elective Deferral under the Plan or to another retirement plan which amount was directly rolled over to the Plan, and ends when five consecutive taxable years have been completed.

  • Certified seed means seed produced from plants grown directly from FOUNDATION SEED or REGISTERED SEED, cultivated according to certification regulations and that meets the specifications of the official seed certifying agency of the jurisdiction in which the seed is/was produced.

  • Qualified Subsidiary means any direct or indirect Domestic Subsidiary or Eligible Foreign Subsidiary.

  • Qualified small business means an entity, whether organized as a corporation, partnership, or proprietorship, organized for profit with its principal place of business located within this state and which meets the following criteria:

  • Excluded Contribution means net cash proceeds, marketable securities or Qualified Proceeds received by the Issuer from