Six Month Rule definition

Six Month Rule means the requirement under Code Section 409A to delay for six months the payment of certain severance amounts payable to certain “specified employees” within the meaning of Code Section 409A.
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Examples of Six Month Rule in a sentence

  • The Six Month Rule -New employees should be closely observed in the first six months and periodically thereafter.

  • Promptly following a Triggering Event for a Participant, the Company shall make such further deposits in cash in an amount that is sufficient to pay such Participant the severance amounts to which such Participant is or may become entitled under the terms of the applicable Agreement, which amounts either are delayed in accordance with the Six Month Rule or depend on the Participant’s termination after the Change of Control, and to maintain such amounts until the obligations hereunder are fully paid.

  • Six Month Rule Applies: For six months after John’s death, the account will be insured for $500,000 as though John was still living.

  • Six Month Rule – No person will be considered for any volunteer position involving contact with minors until she/he has been involved with Ridgecroft School for a minimum of six (6) months.

  • In the event a person transfers membership from another church and upon the provision of appropriate references and other background information, this Six Month Rule may be waived.

  • In the event the Participant dies while employed by the Bank, but prior to the commencement of benefits under Section 1, Paragraph A (except on account of the Six Month Rule as defined therein), the Participant’s beneficiary as designated on the Beneficiary Designation Form (pursuant to the rules on beneficiary designations set forth in Paragraph 1.A.), shall receive a lump sum death benefit of $200,000.

  • Six Month Rule Applies:For six months after John’s death, the account will be insured for$500,000 as though John was still living.

  • The Six Month Rule means that Residents Forum will not reconsider any issues discussed at a resident’s forum or any decision taken by a committee in the six months preceding the date of the forum.The Residents Forum may also be a forum for certain consultations from the Council as decided by the Chairman.At Residents Forum issues will be considered in order of receipt.

  • Saying that she had been unaware of the Six Month Rule (Local Government Act 1972 sect.85 which provided for vacation of office through failure to attend meetings without sending Apologies, for six consecutive months), she said that regret- tably she had been caught by it, so was no longer a Member of Bow Parish Council.

  • Such comments will be invited entirely at the discretion of the Residents Forum chairman.The Six Month Rule shall apply whereby matters dealt with cannot be raised again within this period.

Related to Six Month Rule

  • Three-Month Secondary CD Rate means, for any day, the secondary market rate for three-month certificates of deposit reported as being in effect on such day (or, if such day is not a Business Day, the next preceding Business Day) by the Board through the public information telephone line of the Federal Reserve Bank of New York (which rate will, under the current practices of the Board, be published in Federal Reserve Statistical Release H.15(519) during the week following such day) or, if such rate is not so reported on such day or such next preceding Business Day, the average of the secondary market quotations for three-month certificates of deposit of major money center banks in New York City received at approximately 10:00 a.m., New York City time, on such day (or, if such day is not a Business Day, on the next preceding Business Day) by the Administrative Agent from three negotiable certificate of deposit dealers of recognized standing selected by it.

  • Limited Indexation Month means any month specified in the relevant Final Terms for which a Limited Indexation Factor is to be calculated;

  • Month means calendar month.

  • Three-Month Term SOFR Conventions means any determination, decision or election with respect to any technical, administrative or operational matter (including with respect to the manner and timing of the publication of Three-Month Term SOFR, or changes to the definition of “Floating Interest Period”, timing and frequency of determining Three-Month Term SOFR with respect to each Floating Interest Period and making payments of interest, rounding of amounts or tenors, and other administrative matters) that the Company decides may be appropriate to reflect the use of Three-Month Term SOFR as the Benchmark in a manner substantially consistent with market practice (or, if the Company decides that adoption of any portion of such market practice is not administratively feasible or if the Company determines that no market practice for the use of Three-Month Term SOFR exists, in such other manner as the Company determines is reasonably necessary).

  • 12-Month Period means a rolling 12-month period measured backward from the date leave is taken and continuous with each additional leave day taken.

  • Three-Month Term SOFR means the rate for Term SOFR for a tenor of three months that is published by the Term SOFR Administrator at the Reference Time for any Floating Interest Period, as determined by the Calculation Agent after giving effect to the Three-Month Term SOFR Conventions.

  • Change in Control Protection Period means the period commencing on the date a Change in Control occurs and ending on the first anniversary of such date.

  • A month means a month according to Gregorian calendar.

  • Energy year or "EY" means the 12-month period from June 1st

  • Model Year means the CI engine manufacturer’s annual production period, which includes January 1st of a calendar year, or if the manufacturer has no annual production period, the calendar year.

  • Average Monthly Compensation means the quotient determined by dividing the sum of the Employee’s then current Base Salary (as defined in Section 4.1 hereof) and the greater of the most recently paid Incentive Compensation (as defined in Section 4.2 hereof) or the average of Incentive Compensation paid over the three most recent years by twelve.

  • Average final compensation means the average annual creditable compensation of a member during

  • 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.

  • Twelve-Month Period means a twelve-month period ending on the first anniversary of the Effective Date or on each subsequent anniversary thereof.

  • Base Period Income is an amount equal to Executive's "annualized includable compensation" for the "base period" as defined in Sections 280G(d)(1) and (2) of the Code and the regulations adopted thereunder. Generally, Executive's "annualized includable compensation" is the average of Executive's annual taxable income from Company for the "base period," which is the five calendar years prior to the year in which the Change of Control occurs. These concepts are complicated and technical and all of the rules set forth in the applicable regulations apply for purposes of this Agreement.

  • Contract Year means each period of twelve (12) consecutive months during the Initial Term of this Agreement, with the first Contract Year commencing on the Effective Date, and with each subsequent Contract Year commencing on the anniversary of the Effective Date.

  • Proration Month means the month for which capacity is to be allocated under Item 7.

  • Operating Month for a Shipper or Transferor means any calendar month in which Carrier either transports Crude Petroleum or recognizes and records a change in ownership of Crude Petroleum for the account of such Party. For purposes hereof the calendar month shall be deemed to begin at 7:00 a.m. (Central Time) on the first day of such month.

  • Prior Month Receipt Period With respect to each Distribution Date, the calendar month preceding the month in which such Distribution Date occurs.