Terminating Participant definition

Terminating Participant means a person whose full participation in Qualifying Income has been terminated pursuant to this Plan. Following the action or event in a Plan Year that results in a Participant becoming a Terminating Participant, the person shall remain a Participant for that Plan Year and for succeeding Plan Years for purposes of such Participant's rights to Terminating Qualifying Income. A Terminating Participant shall cease to be a Participant when all portfolio investments held by the Company at the time such person became a Terminating Participant are sold or otherwise disposed of by the Company (determined on a first-in, first-out basis).
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Terminating Participant has the meaning provided in Article 27.3(b)(i).
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Terminating Participant means a person whose full participation in Qualifying Income has been terminated other than for Cause pursuant to this Plan. Following the action or event in a Plan Year that results in a Participant becoming a Terminating Participant, the person shall remain a Participant for that Plan Year and for succeeding Plan Years for purposes of such Participant's rights to Terminating Qualifying Income. A Terminating Participant shall cease to be a Participant when all portfolio
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Examples of Terminating Participant in a sentence

  • With respect to any Terminating Participant, terminating nonqualifying gain is intended to reduce Net Realized Income by the portion of net after-tax realized gains attributable to increases in asset values after the time such person becomes a Terminating Participant, as well as by the amount of nonqualifying gain (as defined in "Qualifying Income"), and shall be so interpreted.

  • In cases where the present value of a vested or payable benefit of a Terminating Participant is not greater than $1,000, the benefit shall be paid in a lump-sum distribution as soon as practicable after Termination.

  • As soon as practicable following the end of each Plan Year, the Committee shall determine whether, and if so, how much, Qualifying Income exists with respect to such Plan Year and whether, and if so, how much, Terminating Qualifying Income or Post-Participation Qualifying Income exists with respect to any Terminating Participant or New Participant.

  • Effective for Participants Terminating on and after January 1, 1998, in cases where the present value of a vested or payable benefit of a Terminating Participant is not greater than $5,000 (and, in the case of a distribution made prior to October 17, 2000, was not greater than $5,000 at the time of any prior distribution), the benefit shall be paid in a lump-sum distribution as soon as practicable after Termination.

  • If a Participant Terminates for any reason not described in Section 16.01[1], [2] or [3], [a] all outstanding unvested Awards that have not been designated as Performance-Based Awards will be forfeited on the Termination date and [b] all vested Options and SARs then held by a Terminating Participant and that have not been designated as Performance-Based Awards may be exercised before the earlier of [i] 90 days after Termination or [ii] the Expiration Date specified in the associated Award Agreement.

  • That substitution is intended to ensure that such a Terminating Participant does not share in any net after-tax realized gains attributable to asset values as of such person's New Participant Measuring Date, and the provisions of this Plan shall be so interpreted.

  • In the event a New Participant becomes a Terminating Participant, the definition of Terminating Qualifying Income shall be modified by substituting such Participant's New Participant Measuring Date for September 30, 1997, wherever the latter date appears in such definition.

  • Upon the termination of employment of any Full Participant or New Participant for any reason other than termination by the Company for Cause, such Full Participant or New Participant shall become a Terminating Participant.

  • A Terminating Participant shall forfeit his right to receive delivery of the Shares, other property or Proceeds if during the one year period following his termination of employment, he directly or indirectly solicits or induces any other employee of the Company or its subsidiaries to terminate his or her employment with the Company.

  • The words "Terminating Participant" shall mean a Participant who terminates his employment for reasons other than those set forth in Subsection 2.1(m).

Related to Terminating Participant

  • 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.

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

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

  • Major Participant means each Equity Member and each member of the Proposer’s organization: (a) with primary responsibility for design; (b) with primary responsibility for construction; or (c) with a proposed subcontract with a value greater than or equal to 5% of the contract price or $20 million, whichever is greater.

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

  • Covered Participant means a Participant who is a “covered employee” as defined in Section 162(m)(3) of the Code, and any individual the Committee determines should be treated as such a covered employee.

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

  • 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.

  • Program participant means an individual certified by the secretary as a program participant under Iowa Code section 9E.3.

  • Employee Participant means an Employee who holds an outstanding Award under the terms of the Plan.

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

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

  • 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).

  • Non-U.S. Participant means any Participant that if it were a Lender would qualify as a Non-U.S. Lender.

  • Section 162(m) Participant means any key Employee designated by the Administrator as a key Employee whose compensation for the fiscal year in which the key Employee is so designated or a future fiscal year may be subject to the limit on deductible compensation imposed by Section 162(m) of the Code.

  • Participating employee means an employee whose election to participate in a Plan has been approved by the employer.

  • Qualified Participant means an individual who is a participant of Tier 2 and who meets 1 of the following requirements:

  • Participating Employer means any trade or business (whether or not incorporated) which adopts this Plan with the consent of the Company identified in the Adoption Agreement.

  • 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.

  • Reporting Participant means a Participant who is subject to the reporting requirements of Section 16 of the Exchange Act.

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

  • Eligible employer means an employer that:

  • Eligible Executive means any employee of the Company or an Affiliate of the Company who (i) is designated by the Committee as an “Eligible Executive” who is eligible to participate in the Plan; (ii) has executed and returned a Participation Agreement to the Company; (iii) is not covered under any other severance plan, policy, program or arrangement sponsored or maintained by the Company or any of its Affiliates; and (iv) is not a party to an employment or severance agreement with the Company or any of its Affiliates pursuant to which such employee is eligible for severance payments or benefits. The Committee shall have the sole discretion to determine whether an employee is an Eligible Executive. Eligible Executives shall be limited to a select group of management or highly compensated employees within the meaning of Sections 201, 301 and 401 of ERISA.

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

  • 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.

  • Non-Key Employee means any Employee who is not a Key Employee.

Most Referenced Clauses

Most Referenced Definitions