Separation Year definition

Separation Year means the calendar year in which the Separation Date occurs.
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Separation Year means the Company’s taxable year that includes the Separation Date.
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Separation Year means the Determination Year during which the Employee separates from service with the Employer or performs no services for the Employer. An Employee shall be deemed to have a Separation Year if, during a Determination Year prior to attainment of Age 55, the Employee's Annual Compensation is less than 50% of the Employee's average Annual Compensation for the three consecutive calendar years preceding such Determination Year during which the Employee receives the greatest amount of Annual Compensation from the Employer (or the total period of the Employee's service with the Employer, if less).
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Examples of Separation Year in a sentence

  • The total amount of the Severance Allowance provided in Section 3(a) shall be paid after the Eligible Executive’s Separation Date in a lump sum within thirty (30) days after the Eligible Executive signs and does not revoke the General Release, provided that the Eligible Executive signs the General Release no later than the last day of the 49-day consideration period and such payment shall occur (assuming no revocation) before March 15 of the year following the Separation Year.

  • An Eligible Executive who receives an Alternate AIP Award may not receive an AIP Award under the AIP Plan for the Separation Year under any circumstances.

  • Notwithstanding anything to the contrary in Section 3(i) above, for any Eligible Executive who participates in the Motorola Solutions Financial Planning Program on such Eligible Executive’s Separation Date, Motorola Solutions will pay the Eligible Executive’s financial planning vendor for services rendered pursuant to the Motorola Solutions Financial Planning Program through the later of (i) 12 months following the Separation Date or (ii) April 30 of the calendar year following the Separation Year.

  • The applicable pro rata amount shall be determined by multiplying (i) the product of the Eligible Executive’s Eligible Earnings, as defined in the AIP Plan, times his or her AIP Plan target percentage for the Separation Year times the business performance factor under the AIP Plan for the applicable organizational unit by (ii) a fraction, the numerator of which is the number of completed days of active work during the Separation Year and the denominator of which is 365.

  • An Eligible Executive who receives an Alternate MIP Award may not receive an MIP Award under the MIP Plan for the Separation Year under any circumstances.

  • Highly Compensated Former Employee means any Former Employee who had a Separation Year (within the meaning of Treasury Regulation Section 1.414(q)-1T Q&A-5) and was a Highly Compensated Active Employee for either the Separation Year or any Determination Year ending on or after the Employee's 55th birthday.

  • The applicable pro rata amount shall be determined by multiplying (i) the product of the Eligible Executive’s Eligible Earnings, as defined in the MIP Plan, times his or her MIP Plan target percentage for the Separation Year times the business performance factor under the MIP Plan for the applicable organizational unit by (ii) a fraction, the numerator of which is the number of completed days of active work during the Separation Year and the denominator of which is 365.

  • Notwithstanding anything to the contrary in Section 3(i) above, for any Eligible Executive who participates in the Motorola Financial Planning Program on such Eligible Executive’s Separation Date, Motorola will pay the Eligible Executive’s financial planning vendor for services rendered pursuant to the Motorola Financial Planning Program through the later of (i) 12 months following the Separation Date or (ii) April 30 of the calendar year following the Separation Year.

  • A Former Employee is a Highly Compensated Employee if (applying the rules of Section 13.02) the Former Employee was a Highly Compensated Employee during a Separation Year or during any Determination Year ending on or after the Former Employee’s 55th birthday.

  • A Former Employee is a Highly Compensated Employee if (applying the rules of Section 13.02) the Former Employee was a Highly Compensated Employee during a Separation Year or during any Determination Year ending on or after the Former Employee's 55th birthday.


More Definitions of Separation Year

Separation Year means any of the following years:
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Separation Year is the "determination year" in which an Employee separates from service.
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Separation Year means the determination year in which the Employee Severs from Service.
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Separation Year shall have the meaning set forth in Section 4(a).
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Related to Separation Year

  • transition year means the financial year of an issuer or business in which the issuer or business changes its financial year-end;

  • Termination Year means the calendar year in which the Employment Period is terminated.

  • Compensation Year means a period of 12 months expiring 31 March in any year;

  • Vacation Year means the twelve (12) month period commencing on the first (1st) day of April in each calendar year and concluding on the thirty-first (31st) day of March of the following calendar year.

  • Election Year means a year in which ordinary elections for local governments are required to be held;

  • Limitation Year means the Plan Year.

  • taxation year means the calendar year to which an assessment roll applies for the purposes of taxation;

  • Allocation Year Means (i) the period commencing on the Closing Date and ending on December 31, 2006, (ii) any subsequent period commencing on January 1 and ending on the following December 31, or (iii) any portion of the period described in clause (ii) for which the Company is required to allocate Profits, Losses and other items of Company income, gain, loss or deduction pursuant to Article V.

  • Determination Year means the Plan Year for which testing is being performed, and the “look-back year” means the immediately preceding twelve (12) month period.

  • Plan Year means the calendar year.

  • 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.

  • Compensation Period has the meaning specified in Section 2.12(c)(ii).

  • Deferral Year means each calendar year during which the Director makes, or is entitled to make, Compensation Deferrals under Section 3 hereof.

  • Excess Elective Deferrals means the amount of Elective Deferrals (as defined below) for a calendar year that the Participant designates to the Plan pursuant to the following procedure. The Participant’s designation: shall be submitted to the Administrator in writing no later than March 1; shall specify the Participant’s Excess Elective Deferrals for the preceding calendar year; and shall be accompanied by the Participant’s written statement that if the Excess Elective Deferrals is not distributed, it will, when added to amounts deferred under other plans or arrangements described in Section 401(k), 408(k) or 403(b) of the Code, exceed the limit imposed on the Participant by Section 402(g) of the Code for the year in which the deferral occurred. Excess Elective Deferrals shall mean those Elective Deferrals that are includible in a Participant's gross income under Section 402(g) of the Code to the extent such Participant's Elective Deferrals for a taxable year exceed the dollar limitation under such Code section.

  • Leave Year means the year ending with the anniversary date of the employee’s appointment.

  • Excess Compensation means Compensation in excess of the following Integration Level: (Choose (1) or (2))

  • Employment Year means each twelve-month period, or part thereof, during which Employee is employed hereunder, commencing on the Commencement Date and on the same day of the subsequent calendar year and each consecutive 12 month period thereafter.

  • Taxable Year means a taxable year of the Corporate Taxpayer as defined in Section 441(b) of the Code or comparable section of state or local tax law, as applicable (and, therefore, for the avoidance of doubt, may include a period of less than 12 months for which a Tax Return is made), ending on or after the IPO Date.

  • Elective Deferral means the portion of Compensation which is deferred by a Participant under Section 4.1.

  • Tax Year means a period beginning with 6th April in one year and ending with 5th April in the next;

  • Non-Highly Compensated Employee means an Employee who is not a Highly Compensated Employee.

  • Service Year means fiscal year, except that:

  • Earnable compensation means the full rate of the

  • Vesting Year means a unit of Service credited to a Participant pursuant to Section 9.2 for purposes of determining his vested interest in his Account.

  • Nonhighly Compensated Employee means an Employee who is not a Highly Compensated Employee.

  • Basic Compensation means Salary and Benefits.