Tier III Employee definition

Tier III Employee means each Board-elected officer who is not a Tier I Employee or Tier II Employee.

Tier III Employee means (a) each employee of the Company or a Subsidiary thereof who participated in the Plan as a Tier III Employee as of immediately prior to the Effective Date and who has not waived in writing the right to continue to participate in the Plan, and (b) each other employee of the Company or any Subsidiary thereof who is designated by the Committee as eligible to participate in this Plan as a Tier III Employee.

Tier III Employee means (a) each Board-elected officer as of May 14, 2019 who is not a Tier I Employee or Tier II Employee and who has not waived in writing the right to participate in this Plan, and (b) each other employee of the Company or any Subsidiary thereof who is designated by the Committee as eligible to participate in this Plan as a Tier III Employee.

Examples of Tier III Employee in a sentence

• Subject to Section 3.7 and Section 5 hereof, each Tier I Employee, Tier II Employee, Tier III Employee and Tier IV Employee who incurs a Severance during the Change in Control Protection Period shall be provided with outplacement services as if such employee had been terminated prior to the Change in Control Protection Period and had been entitled to receive outplacement benefits pursuant to the applicable provisions of Section 2 hereof (determined without regard to any service requirement).

• Each Tier I Employee, Tier II Employee, and Tier III Employee shall be a Participant.

• A Tier I Employee, Tier II Employee, or Tier III Employee, as applicable, unless otherwise designated by the Plan Administrator pursuant to Section 2.02.

• In addition, each Tier III Employee shall be provided with outplacement services for a number of months equal to the number of months during which he or she is receiving salary continuation payments (or would have received such payments if the Company had not elected to make a lump sum payment pursuant to Section 2.7).

• The Committee or the Board shall designate each Participant in the Plan as a Tier I, Tier II or Tier III Employee.

More Definitions of Tier III Employee

Tier III Employee means (i) any officer (other than an assistant officer) of the Company and (ii) any such other key executive of the Company or any of its subsidiaries or Affiliates as the Committee determines, which employee, in each case, is not a Tier I Employee or Tier II Employee.

Tier III Employee means any Eligible Employee included within the classification of a Tier III Employee as set forth on Exhibit A hereto.

Tier III Employee means an Eligible Employee in Pay Grade 7 through 12, determined as of the Severance Date, or any other Eligible Employee designated by the Company as a Tier III Employee.

Tier III Employee means any Eligible Employee who prior to a Change in Control was identified by the Company as a VP.

Tier III Employee means those executives and key employees of the Company Group who are designated at the Effective Date by Covanta as Tier III Employees for purposes of the Plan.

Tier III Employee means an Eligible Employee designated by the Compensation Committee as a Tier III Employee.

Tier III Employee means any Eligible Employee who has been employed by the Company or any of its Affiliates for less than three years as of the Severance Date and who is employed by the Company in a position or with a title below that of Vice President. Reductions in an Eligible Employee’s position or title following a Change in Control will not be given effect for purposes of determining an Eligible Employee’s status as a Tier III Employee hereunder.