Shareholder-Employee definition

Shareholder-Employee means a Participant who owns more than five percent (5%) of the Employer's outstanding capital stock during any year in which the Employer elected to be taxed as a Small Business Corporation under the applicable Code Section.

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Shareholder-Employee means a Participant who owns (or is considered as owning) more than five percent (5%) of the outstanding stock of an S Corporation on any day during the taxable year of reference of such S Corporation. In determining the percent of a Participant's ownership of the outstanding stock, the family attribution rules of section 318(a) (1) of the Code, or nay other applicable section of the Code pertaining thereto shall apply.

Shareholder-Employee means an Employee who owns, at the time an Incentive Stock Option is granted, stock representing more than ten percent (10%) of the total combined voting power of all classes of stock of Company or a Subsidiary. For this purpose, the attribution of stock ownership rules of Code Section 424(d) shall apply.

Examples of Shareholder-Employee in a sentence

• Employees No loan shall be granted to an Owner-Employee or Shareholder-Employee unless an exemption has been obtained for such loan from the Secretary of Labor under section 408 of the Act (and such loan is exempt from the excise tax imposed under section 4975 of the Code).

• Employees No loan shall be granted to an Owner-Employee or Shareholder-Employee unless an exemption has been obtained for such loan from the Secretary of Labor under Section 408 of the Act (and such loan is exempt from the excise tax imposed under Section 4975 of the Code).

• A Participant who is an Owner-Employee (including other persons described in Code §4975(f)(6)), or who is a Shareholder-Employee may not receive a loan from the Plan, unless he/she has obtained a prohibited transaction exemption from the DOL.

• No Participant loan will be made to any Shareholder-Employee or Owner-Employee unless a prohibited transaction exemption for such loan is obtained from the Department of Labor or the prohibition against loans to such individuals is formally withdrawn by statute or by action of the Treasury or the Department of Labor.

• A Participant who is an Owner-Employee (including other persons described in Code ss.4975(f)(6)), or who is a Shareholder-Employee may not receive a loan from the Plan, unless he/she has obtained a prohibited transaction exemption from the DOL.

More Definitions of Shareholder-Employee

Shareholder-Employee means a Participant who owns (or is deemed to own pursuant to Code Section 318(a)(1)) more than five percent (5%) of the Employer's outstanding capital stock during any year in which the Employer elected to be taxed as a Small Business Corporation (S Corporation) under the applicable Code sections relating to Small Business Corporations.

Shareholder-Employee means an Employee who owns stock representing more than ten percent (10%) of the total combined voting power of all classes of stock of Holding Company or of any Subsidiary or parent company. For this purpose, the attribution of stock ownership rules provided in Section 424(d) of the Code shall apply.

Shareholder-Employee means an Employee who owns stock representing more than ten percent (10%) of the total combined voting power of all classes of stock of the Employer or of any Parent or Subsidiary. For this purpose, the attribution of stock ownership rules provided in Section 425(d) of the Internal Revenue Code shall apply.

Shareholder-Employee means an individual who is a shareholder of the Employer, if the Employer is an S corporation as defined in Code section 1361, and who owns more than five percent (5%) of the combined voting power of all classes of common stock of the Employer eligible to vote.

Shareholder-Employee means an employee of a subchapter S corporation (Section 1361, et seq., of the Code) who owns more than five percent (5%) of the outstanding stock of such corporation.

Shareholder-Employee means a Participant who owns more than five (5%) percent of the Employer's outstanding capital stock interest during any year in which the Employer elects to be taxed as an "S" corporation under the Code.

Shareholder-Employee means an Employee who owns stock representing more than ten percent (10%) of the total combined voting power of all classes of stock of the Employer or of any Subsidiary; for this purpose, the attribution of stock ownership rules provided in Section 424 of the Code apply.