Qualified Years definition

Qualified Years. As used herein, the term “qualified years”, with respect to any employee, shall refer to the number of consecutive periods, of three hundred sixty-five (365) days each, calculated backward from the date of his severance, in each of which the employee has been employed by Employer for two hundred (200) or more work days (including paid vacation days as work days), it being understood and agreed that if in any such three hundred sixty-five (365) day period such employee was employed for less than two hundred (200) work days by Employer, such three hundred sixty-five (365) day period shall not be counted as a qualified year but shall be “bridged” for displacement pay purposes, with the result that any such three hundred sixty-five (365) day period or periods prior to such “bridged” year in which employee was employed by Employer for two hundred (200) or more work days shall be counted as qualified years, provided, however, that any three hundred sixty-five (365) day period in which employee received any autho- rized leave of absence without pay shall be extended by the length of such leave, and provided, further, that the computation of qualified years shall be subject to the following exceptions: If an employee is determined to have less than two (2) qualified years, the employee shall be credited with a qualified year only if, in addition to having been employed for at least two hundred (200) or more days in the three hun- dred sixty-five (365) days immediately preceding the date of displacement, the employee shall have been employed for at least one (1) day during the first six (6) months of the eighteen (18) month period immediately preceding the date of displacement, in which case the employee shall be credited with one (1) qualified year. Sincerely, July 1,2013 Xx. Xxxxxxx X. Miller Vice President-in-Charge of the West Coast Office
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Qualified Years means any year in which a person worked at least four hundred (400) hours on which contributions were required to be paid to the Retired Employees Fund hereunder. In addition, any participant who was formerly a participant in the Film Producers/Film Craftsmen Pension Plan (“NABET Plan”) and who had earnings reported to that fund for each of the five years from 1987 through 1991, inclusive, wherein at least $8,000.00 was reported in each of four (4) out of the five (5) years, shall be credited with five (5) Qualified Years in the Retired Employees Fund hereunder.
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Qualified Years. As used herein, the term "qualified years," with respect to any employee, shall refer to the number of consecutive periods, of three hundred sixty-five (365) consecutive days each, calculated backward from the date of the employee’s severance, in each of which the employee has been employed by Producer for two hundred (200) or more work days (including paid vacation days as work days), it being understood and agreed that if in any such three hundred sixty-five (365) day period such employee was employed for less than two hundred (200) work days by Producer, such three hundred sixty-five
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Examples of Qualified Years in a sentence

  • For example, if a Participant receives additional Qualified Years in the Plan Years ending in 1990 and 1991 under Subsection (ii), Qualified Years earned in the Plan Years ending in 1992 and 1993 would not count as Qualified Years hereunder (although hours on which contributions were required to be paid and were actually paid to the Retired Employees Fund hereunder in 1992 and 1993 would be taken into account).

  • Such benefit and all Credited Hours and Qualified Years attributable to such benefit shall thereupon be disregarded for all purposes under this Plan.

  • In addition, if the Participant had either 18 or 28 Qualified Years at the end of the Plan Year ending in 1989, he shall be credited with an additional Qualified Year at the End of the Plan Year ending in 1991.

  • This range of options considers the technical solutions in relation to the preferred scope.

  • In this case, any additional Qualified Years earned by the Participant in addition to those credited under Subsection (ii) shall only count to the extent they exceed the Qualified Years credited under Subsection (ii).

  • Qualified Years as of the Date of Displacement Number of Weeks of Displacement Pay Payable The payment of displacement pay, as above provided, shall be separate and apart from any obligation Producer may have to pay severance pay to such displaced person under the provisions of Paragraph 68 hereof ("Severance Pay").

  • For example, if a Participant receives additional Qualified Years in the Plan Years ending in 1990 and 1991 under subsection (c), Qualified Years earned in the Plan Years ending in 1992 and 1993 would not count as Qualified Years under the Plan (although Credit Hours earned in these Plan Years would be taken into account).

  • In addition, effective for Participants whose Annuity Starting Date is on or after August 1, 1997, if the Participant has accumulated at least 30 Qualified Years and at least 60,000 Credited Hours at the time of his Annuity Starting Date (as calculated pursuant to Article I, Section 9(a)(3)) and retires prior to his 60th birthday, the benefits will be reduced actuarially for commencement prior to attainment of age 60.

  • Qualified Years as of the Date of Displacement Number of Weeks of Displacement Pay Payable The payment of displacement pay, as above provided, shall be separate and apart from any obligation Producer may have to pay severance pay to such displaced person under the provisions of Article 33 hereof (“Severance Pay”).

  • The Participants entitled to the benefits of this section shall not be entitled to the crediting of any additional Credited Hours because of this section, but only of additional Qualified Years.

Related to Qualified Years

  • One-hundred-year flood means a flood having a one per cent chance of being equaled or exceeded in any given year.

  • completed year of service means continuous service for one year;

  • 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.

  • Qualified Reservist Distribution means a distribution (i) from an IRA or elective deferrals under a section 401(k) or 403(b) plan, or a similar arrangement, (ii) to an individual ordered or called to active duty after September 11, 2001 (because he or she is a member of a reserve component) for a period of more than 179 days or for an indefinite period, and (iii) made during the period beginning on the date of the order or call and ending at the close of the active duty period.

  • Reviewed Year has the meaning ascribed to said phrase under Section 6225(d)(1) of the Code.

  • Plan Year(s means the approximate twelve-month periods between annual meetings of the shareholders of the Company, which, for purposes of the Plan, are the periods for which annual retainers are earned.

  • Anniversary Year The one-year period beginning on the Closing Date and ending on the first anniversary thereof, and each subsequent one-year period beginning on the day after the end of the preceding Anniversary Year and ending on next succeeding anniversary of the Closing Date.

  • Qualified Matching Contributions means Matching Contributions which are immediately nonforfeitable when made, and which would be nonforfeitable, regardless of the age or service of the Employee or whether the Employee is employed on a certain date, and which may not be distributed, except upon one of the events described under Section 401(k)(2)(B) of the Code and the regulations thereunder.

  • Non-Elective Contribution means the Employer contributions to the Plan excluding, however, contributions made pursuant to the Participant's deferral election provided for in Section 4.2 and any Qualified Non-Elective Contribution used in the "Actual Deferral Percentage" tests.

  • Benefit Distribution Date means the date upon which all or an objectively determinable portion of a Participant’s vested benefits will become eligible for distribution. Except as otherwise provided in the Plan, a Participant’s Benefit Distribution Date shall be determined based on the earliest to occur of an event or scheduled date set forth in Articles 4 through 9, as applicable.

  • Semi-Annual Distribution Date means the "Distribution Dates" set forth under "Summary of Essential Financial Information--Estimated Distributions--Semi-Annual Distributions" in the Prospectus Part I for a Trust.

  • Qualified Matching Contribution means any employer contribution allocated to an Eligible Employee's account under any plan of an Employer or a Related Company solely on account of "elective contributions" made on his behalf or "employee contributions" made by him that is a qualified matching contribution as defined in regulations issued under Code Section 401(k), is nonforfeitable when made, and is distributable only as permitted in regulations issued under Code Section 401(k).

  • Election Date has the meaning specified in Section 312(h).

  • Qualified Retirement means any termination of your employment with the Company Group that occurs on or after your 60th birthday, at a time when no member of the Company Group is entitled to discharge you for Cause, so long as you have served the Company Group continuously for at least the five-year period immediately preceding that termination.

  • Eligible Earnings means the Grantee's base salary (prior to any deferrals under a cash or deferred compensation plan sponsored by the Corporation or an Affiliate) paid during the Plan Year. From time to time the Plan Administrator may, in its sole discretion, establish rules for determining the amounts of Eligible Earnings for employees who become Grantees other than on the first day of a Plan Year as well as any reduction of Eligible Earnings as a result of paid leave of absences.

  • Current Distribution Date means a Distribution Date specified as a reference date for calculating the Expected Distributions with respect to the Certificates of any Trust as of such Distribution Date.

  • Post-Distribution Period means any Tax Period beginning after the Distribution Date and, in the case of any Straddle Period, the portion of such Tax Period beginning on the day after the Distribution Date.

  • Profit Distribution Date means the date on which the Management Company decides to distribute the profits (if any).

  • Qualified Nonelective Contributions means contributions of the Plan Sponsor or an Affiliate, other than Matching Contributions or Elective Deferrals, which are nonforfeitable when made, and which would be nonforfeitable regardless of the age or service of the Employee or whether the Employee is employed on a certain date, and which may not be distributed, except upon one of the events described under Code Section 401(k)(2)(B) and the regulations thereunder.

  • Required Beginning Date means April 1 of the calendar year following the later of:

  • Monthly Distribution Date means the "Distribution Dates" set forth under "Summary of Essential Financial Information--Estimated Distributions" in the Prospectus Part I for a Trust.

  • Available Excluded Contribution Amount means the aggregate amount of Cash or Cash Equivalents or the fair market value of other assets (as reasonably determined by the Borrower, but excluding any Cure Amount and any Contribution Indebtedness Amount) received (or deemed to be received) by the Borrower or any of its Restricted Subsidiaries after the Closing Date from:

  • the specified year means the school year beginning at or about the beginning of September 2023;

  • Subsequent Distribution Date means the last Business Day of the month following the end of each calendar quarter after the Effective Date; provided, however, that if the Effective Date is within thirty (30) days of the end of a calendar quarter, then the first Subsequent Distribution Date will be the last Business Day of the month following the end of the first (1st) calendar quarter after the calendar quarter in which the Effective Date falls.

  • True-Up Date means the date which is forty-five (45) days after the latest to occur of the Termination Date of this Agreement, the Termination Date of the Commercial Agreement or disposition of all Assets pursuant to this Agreement or the Commercial Agreement.

  • Class A-PO Deferred Amount For any Distribution Date prior to the Subordination Depletion Date, the difference between (A) the sum of (x) the amount by which the sum of the Class A-PO Optimal Principal Amounts for all prior Distribution Dates exceeded the amounts distributed on the Class A-PO Certificates on such prior Distribution Dates pursuant to Paragraph third clause (2) of Section 4.01(a) and (y) the sum of the product for each Discount Mortgage Loan which became a Liquidated Loan at any time on or prior to the last day of the Applicable Unscheduled Principal Receipt Period for Full Unscheduled Principal Receipts for the current Distribution Date of (a) the PO Fraction for such Discount Mortgage Loan and (b) an amount equal to the principal portion of Realized Losses (other than Bankruptcy Losses due to Debt Service Reductions) incurred with respect to such Discount Mortgage Loan and (B) the sum of (x) the sum of the Class A-PO Recoveries for such Distribution Date and prior Distribution Dates and (y) amounts distributed on the Class A-PO Certificates on prior Distribution Dates pursuant to Paragraph fourth of Section 4.01(a). On and after the Subordination Depletion Date, the Class A-PO Deferred Amount will be zero. No interest will accrue on any Class A-PO Deferred Amount.