Severance Participant definition

Severance Participant means a Participant who the Compensation Committee has designated as an individual eligible for the benefits set forth in Article 6. Exhibit A sets forth the list of Severance Participants as of the Effective Date, which may be amended by the Compensation Committee as described in Section 3.3.
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Severance Participant means the Class B and C officers of the Company. 2.32 “Specified Employee” means any Participant who is a “key employee” (as defined in Code Section 416(i) without regard to paragraph (5) thereof), as determined by the Company in accordance with its uniform policy with respect to all arrangements subject to Code Section 409A, based upon the 12 month period ending on each December 31st (such 12 month period is referred to below as the “identification period”). All Participants who are determined to be key employees under Code Section 416(i) (without regard to paragraph (5) thereof) during the identification period shall be treated as Specified Employees for purposes of the Plan during the 12 month period that begins on the first day of the fourth month following the close of such identification period. 2.33 “Subsidiary” means any corporation, partnership, venture or other entity in which the Company holds, directly or indirectly, a 50% or greater ownership interest. The Compensation Committee may, at its sole discretion, designate, on such terms and conditions as the Compensation Committee shall determine, any other corporation, partnership, limited liability company, venture or other entity a Subsidiary for purposes of this Plan. 2.34 “Termination” or “Terminates” means a “separation from service” from the Company or any member of its Controlled Group within the meaning of Treasury Regulation Section 1.409A-1(h).
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Severance Participant means each of the Participants listed on Schedule C.
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Examples of Severance Participant in a sentence

  • For purposes of participation in the Reorganization Retention Plan, Executive shall be considered a Participant with a separate employment agreement with the Company and thus shall not be a Severance Participant under the terms of the Reorganization Retention Plan.

  • Subject to certain conditions as established in the KERP Plan, the Enhanced Severance Participants will be entitled to receive a lump sum cash payment equal to the sum of the Severance Participant's current annual salary on the termination date plus such Enhanced Severance Participant's target annual bonus with respect to the year in which the termination date occurs, multiplied by the change of control severance multiplier applicable to such Enhanced Severance Participant.

  • In addition, the Severance Participant will continue to be covered by all life, health care, medical and dental insurance plans and programs (excluding disability) for a period of months equal to the Severance Participant's applicable severance multiplier multiplied by 12.

  • In addition to Cash Severance, Participant shall be paid his or her annual bonus determined under the MPP for the year of the Qualifying Termination prorated for the period beginning on the first day of the current bonus year and ending on the date of the Qualifying Termination.

  • No Severance Participant had authority to make company-wide decisions for the Debtors, and no Severance Participant is a director, officer, or person in control of the debtors.

  • To the extent that any benefit extended under this Section 6.1(d) would result in taxable compensation for the Severance Participant, the Severance Participant shall be solely responsible for any such taxes.

  • Notwithstanding the foregoing, in the event a Severance Participant becomes reemployed with another employer and becomes eligible to receive group health plan coverage from such employer, the Company’s obligations under this Section 6.1(d) shall cease as of the date such Severance Participant commences such new employment.

  • Notwithstanding the foregoing, in the event any portion of the Gross-Up Payment to be refunded to the Company has been paid to any Federal, state or local tax authority, repayment thereof shall not be required until actual refund or credit of such portion has been made to the Enhanced Severance Participant, and interest payable to the Company shall not exceed interest received or credited to the Enhanced Severance Participant by such tax authority for the period it held such portion.

  • Anything in this Plan to the contrary notwithstanding, ADC’s obligation to continue health and welfare benefits for any Severance Participant or Enhanced Severance Participant shall cease if and when such Participant becomes employed by a third party that provides such Participant with health and welfare benefits.

  • On 18 August 2019, during the night, alleged members of the imbonerakure militia assassinated Grégoire Nsanzimana following an ambush in the Rugari area, in the commune and province of Muyinga.


More Definitions of Severance Participant

Severance Participant means each Participant who is entitled to severance benefits under Section 3.01 and who is not an Enhanced Severance Participant entitled to severance benefits under Section 3.02.
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Severance Participant means the Class A, B and C officers of the Company.
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Severance Participant means an employee of the Company or its affiliates who has been selected by the Committee to participate in the severance portion of the Plan and is so designated in a writing, in the form of the “Acknowledgment Form” attached hereto as Exhibit A and identifying the Severance Period, executed by a duly authorized member of the Committee or the CEO, on behalf of the Company, and by such Participant for the purpose of affirming his agreement to be bound by the terms of the Plan.
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Related to Severance Participant

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

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

  • 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.

  • 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.

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

  • 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.

  • Eligible Executive means an employee of the Company selected as being eligible to participate in this Plan under Section C.1.a.

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

  • 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).

  • Severance Benefits mean the payment of severance compensation as provided in Section 2.3 herein.

  • Eligible Employee means full-time and part-time employees in the bargaining unit who have completed four hundred and fifty (450) hours of service and who are not prohibited from contributing to the Plan by legislation or the Plan rules because of their age or because they are in receipt of a pension from the Plan.

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

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

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

  • 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.

  • 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;

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

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

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

  • Change in Control Benefit means the benefit described in Section 2.4.

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

  • Severance Payment means any amount paid by a board to or in behalf of a superintendent on early termination of the superinten- dent’s contract that exceeds the amount earned by the superinten- dent under the contract as of the date of termination, including any amount that exceeds the amount of earned standard salary and benefits that is paid as a condition of early termination of the con- tract. Payments to a former superintendent who remains employed by a district in another capacity or contracts with a district to pro- vide the district services may be severance payments in whole or in part if the payments are compensation for the early termination of a prior employment agreement. Severance payments include any payment for actual or threatened litigation involving or related to the employment contract. Education Code 11.201(c); 19 TAC 105.1021(a)(1)

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

  • Eligible employer means any municipality with a municipal

  • Service benefit means the credit toward retirement benefits as determined by the

  • 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).