Severance of Service definition

Severance of Service means the earlier of:
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Severance of Service means termination of an Employee from a Participating Employer.
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Severance of Service means an Employee’s death, retirement, or other termination of employment with the Company’s control group of companies as defined under IRC section 414(b) or (c) and the accompanying regulations, but substituting a 50 percent ownership level for the 80 percent ownership level in section 414(b) and (c) and the accompanying regulations.
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Examples of Severance of Service in a sentence

  • Also, if the Agency recorded a Notice of Severance of Service to the property, the Agency shall, if requested, record a “Release Agreement” stating that the water service is being reinstated, if the person requesting reinstatement of service pays the Agency any required recording fees assessed by others.

  • Close liaison with the local authorities, most importantly the OSCB, assessment teams, early intervention services, and the MASH, is vital in order that appropriate support and training can be given.

  • Other provisions notwithstanding, a Participant determined to be a Specified Employee who is entitled to a distribution as a result of a Severance of Service shall receive the initial benefit payment six (6) months after the Severance of Service or, if earlier, his date of death.

  • Actuarial valuations shall take into account, among other items, earnings or losses on the assets and forfeitures arising from Severance of Service or any other reason.

  • Subject to the provisions of Article 7, upon a Participant's Severance of Service prior to attaining his or her Early Retirement Date, the Participant shall be entitled to receive his or her Accrued Benefit payable at the Normal Retirement Date.

  • If a Participant had no vested interest in his Accrued Benefit at the time he or she incurred a Severance of Service, then such Participant shall be deemed to have received a distribution of his or her Vested Accrued Benefit for purposes of this section.

  • If a Participant is not 100% vested in his or her Account Balance and the nonvested portion is not forfeited because no distribution has been made, it will be forfeited five years from the date of the Participant's Severance of Service, if the Participant is not reemployed during that period.

  • If the Participant does not complete an initial Distribution Election Form, the Participant’s benefit will be paid as a single sum on the later of attainment of age 55 or Severance of Service.


More Definitions of Severance of Service

Severance of Service occurs on the earlier of: (i) the date the Employee quits, retires, is discharged or dies; and (ii) the first anniversary of the first date of a period in which the Employee remains absent from service with the Employer (with or without pay) for any reason other than quit, retirement, discharge, death, authorized leave of absence or Disability (such as vacation, holiday, sickness, unauthorized leave of absence or layoff).
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Related to Severance of Service

  • Termination of Services means Participant’s Termination of Consultancy, Termination of Directorship or Termination of Employment, as applicable.

  • Severance from Employment means severance from employment with the Employer and any Related Entity. However, a Severance from Employment also occurs on any date on which an Employee ceases to be an employee of a public school, even though the Employee may continue to be employed by a Related Employer that is another unit of the State or local government that is not a public school or in a capacity that is not employment with a public school (e.g., ceasing to be an employee performing services for a public school but continuing to work for the same State or local government employer).

  • Severance from Service Date means the earlier of:

  • Separation from Service means a “separation from service” with the Company within the meaning of Section 409A of the Code and the Department of Treasury regulations and other guidance promulgated thereunder.

  • Termination of Employment means that the Executive ceases to be employed by the Company for any reason, voluntary or involuntary, other than by reason of a leave of absence approved by the Company.

  • Involuntary Termination of Employment means the Termination of Service by the Company or Subsidiary other than a termination for Cause, or termination of employment by a Participant Employee for Good Reason.

  • Termination of Service means:

  • Level of service has the meaning set forth in Section 2.02(c).

  • Employment benefits means all benefits provided or made

  • Qualifying Termination of Employment means a Participant’s Termination of Employment (i) by the Company without Cause or (ii) by the Participant with or without Good Reason or by reason of Retirement.

  • Separation Benefits has the meaning accorded such term in Section 3.04.

  • Severance Compensation means the compensation set forth in (i), (ii), and (iv) above.

  • Severance Pay means any amount that is payable in cash and is identified by a Participating Company as severance pay, or any amount which is payable on account of periods beginning after the last date on which an employee (or former employee) is required to report for work for a Participating Company.

  • Separates from Service or “Separation from Service” means the Participant’s termination of service as a non‑employee director and as an employee of UGI for any reason other than death and shall be determined in accordance with section 409A of the Code.

  • Severance Benefit means the payment of severance compensation as provided in Article III.

  • Severance Benefits means the payment of severance compensation as provided in Section 3.3 herein.

  • Termination Benefits means the benefits described in Section 4.1(b).

  • Terms of Service means those Support Services and Professional Services terms posted at xxxxx://xxx.xxxxxxx.xxx/jaggaer-one-terms-of-service/, which are incorporated herein. Client acknowledges and agrees it has read, understands and agrees to be bound by the Terms of Service.

  • Voluntary Termination for Good Reason means the Employee voluntarily resigns after the occurrence of any of the following (i) without the Employee’s express written consent, a material reduction of the Employee’s duties, title, authority or responsibilities, relative to the Employee’s duties, title, authority or responsibilities as in effect immediately prior to such reduction, or the assignment to Employee of such reduced duties, title, authority or responsibilities; provided, however, that a reduction in duties, title, authority or responsibilities solely by virtue of the Company being acquired and made part of a larger entity (as, for example, when the Senior Vice-President of a business unit of the Company remains as such following a Change of Control) shall not by itself constitute grounds for a “Voluntary Termination for Good Reason;” (ii) without the Employee’s express written consent, a material reduction, without good business reasons, of the facilities and perquisites (including office space and location) available to the Employee immediately prior to such reduction; (iii) a reduction by the Company in the base salary of the Employee as in effect immediately prior to such reduction; (iv) a material reduction by the Company in the aggregate level of employee benefits, including bonuses, to which the Employee was entitled immediately prior to such reduction with the result that the Employee’s aggregate benefits package is materially reduced (other than a reduction that generally applies to Company employees); (v) the relocation of the Employee to a facility or a location more than thirty-five (35) miles from the Employee’s then present location, without the Employee’s express written consent; (vi) the failure of the Company to obtain the assumption of this agreement by any successors contemplated in Section 7(a) below; or (vii) any act or set of facts or circumstances which would, under California case law or statute constitute a constructive termination of the Employee.

  • Nonqualifying Termination means a termination of the Executive’s employment (1) by the Company for Cause, (2) by the Executive for any reason other than a Good Reason, (3) as a result of the Executive’s death or (4) by the Company due to the Executive’s absence from his duties with the Company on a full-time basis for at least 180 consecutive days as a result of the Executive’s incapacity due to physical or mental illness.

  • Denial of Service Attack means an attack intended by the perpetrator to overwhelm the capacity of a Computer System by sending an excessive volume of electronic data to such Computer System in order to prevent authorized access to such Computer System.

  • Covered employment means employment in a covered position.

  • Date of Service means the date on which the client receives medical services or items, unless otherwise specified in the appropriate provider rules. For items that are mailed or shipped by the provider, the date of service is the date on which the order was received, the date on which the item was fabricated, or the date on which the item was mailed or shipped.

  • Disability Termination means termination by the Company of the Executive’s employment by reason of the Executive’s incapacitation due to disability. The Executive will be deemed to be incapacitated due to disability if at the end of any month the Executive is unable to perform substantially all of the Executive’s duties under this Agreement in the normal and regular manner due to illness, injury or mental or physical incapacity, and has been unable so to perform for either (i) three consecutive full calendar months then ending, or (ii) 90 or more of the normal working days during the 12 consecutive full calendar months then ending. Nothing in this paragraph alters the Company’s obligations under applicable law, which may, in certain circumstances, result in the suspension or alteration of the foregoing time periods.

  • Essential Health Benefits means, under section 1302(b) of the Patient Protection and Affordable Care Act, those health benefits to include at least the following general categories and the items and services covered within the categories: ambulatory patient services; Emergency Services; hospitalization; maternity and newborn care; mental health and substance abuse disorder services, including behavioral health treatment; prescription drugs; rehabilitative and habilitative services and devices; laboratory services; preventive and wellness services and chronic disease management; and pediatric services, including oral and vision care.

  • Accrued Professional Compensation means, at any given moment, all accrued, contingent and/or unpaid fees and expenses (including, without limitation, success fees) for legal, financial advisory, accounting and other services and reimbursement of expenses that are awardable and allowable under section 328, 330(a) or 331 of the Bankruptcy Code and were rendered before the Effective Date by any Retained Professional in the Chapter 11 Cases, or that are awardable and allowable under section 503 of the Bankruptcy Code, that have not been denied by a Final Order, all to the extent that any such fees and expenses have not been previously paid (regardless of whether a fee application has been filed for any such amount). To the extent that the Bankruptcy Court or any higher court denies or reduces by a Final Order any amount of a Retained Professional’s fees or expenses, then those reduced or denied amounts shall no longer constitute Accrued Professional Compensation.