Top-50 Employee definition

Top-50 Employee means an employee who meets the key employee requirements of Code Section 416(i)(1)(A)(i), (ii) or (iii) (applied in accordance with the regulations thereunder and disregarding Code Section 416(i)(5)) at any time during the 12-month period ending each December 31st. If an employee is a Top-50 Employee as of any December 31st, the person is treated as a Top-50 Employee for the 12-month period beginning on the March 1st following that December 31st.
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Top-50 Employee means an employee described in the Company’s Procedures for Determining Top-50 Employees under Code Section 409A, as amended from time to time.
Sample 1
Top-50 Employee means an employee of the Company or an Employer who is a U.S. taxpayer or is on the U.S. payroll and, at any time during the 12-month period ending each December 31st is: (a) one of the 50 top-paid employees of the Company or an Employer who is either an officer or a director and has annual compensation greater than $140,000 (as indexed); (b) a five-percent owner (as defined in Code Section 416(i)(1)(B)) of the Company or an Employer; or (c) a one-percent owner (as defined in Code Section 416(i)(1)(B)) of the Company or an Employer with annual compensation of more than $150,000. When identifying Top-50 Employees, the term “annual compensation” shall mean compensation required to be reported as taxable income on IRS Form W-2, plus elective deferrals under Code sections 125(a), 132(f)(4) and 402(e)(3), but disregarding the compensation of nonresident aliens who do not participate in the Plan. If an employee is a Top-50 Employee as of any December 31st, he shall be treated as a Top-50 Employee for the 12-month period beginning on the March 1st following that December 31st. NOTE: Effective as of January 1, 2009, the foregoing shall be replaced in its entirety with the following: “Top-50 Employee” means an employee described in the Company’s Procedures for Determining Top-50 Employees under Code Section 409A, as amended from time to time.
Sample 1

Examples of Top-50 Employee in a sentence

  • Pursuant to Section 5.1(b) above, a six month delay may be required for any such distribution to a Top-50 Employee.

  • Top-50 Employee A “specified employee” under Section 409A of the Tax Code, determined by Interpublic in accordance with Treas.

  • Notwithstanding any other provision of the Plan to the contrary, distributions to be made to a Top-50 Employee upon his retirement or other termination of employment shall not be made before the date that is six (6) months after the Top-50 Employee’s retirement or other separation from service.

  • Ø If Interpublic determines that you are a Top-50 Employee, the lump-sum payment will be delayed until the earlier of (a) the first day of the seventh month that starts after your Termination of Employment or (b) the first day of the first month that starts after your death.

  • Your Award amount will be paid as follows: • If you retire in the first or second fiscal year of the Performance Period, payment of your Award amount shall be made during the 2 1/2-month period following the end of the calendar year in which you retire; provided, however, that if you are a Top-50 Employee (as determined in accordance with Code Section 409A), the payment will not be made earlier than the date that is six months following your separation from service (as defined in Code Section 409A).

  • If Interpublic determines that you are a Top-50 Employee, payment of your vested benefit will be delayed until the earlier of (a) the first day of the seventh month that starts after your Termination of Employment or (b) the first day of the first month that starts after your death (the “Delayed Payment Date”).

  • Your Award amount will be paid as follows: • If you retire in the second year of the Performance Period, payment of your Award amount shall be made during the 21/2 month period following the end of the calendar year in which you retire; provided, however, that if you are a Top-50 Employee (as determined in accordance with Code Section 409A), the payment will not be made earlier than the date that is six months following your separation from service (as defined in Code Section 409A).

  • Ø Unless Interpublic determines that you are a Top-50 Employee, the lump-sum payment will be made within 30 days after your Termination of Employment.

  • Pursuant to subsection 5.1(b) above, a six-month delay shall be required for any such distribution to a Top-50 Employee.

  • Notwithstanding any other provision of the Plan to the contrary: (i) distributions to be made to a Top-50 Employee upon his Separation from Service shall not be made before the date that is six months after the Top-50 Employee’s Separation from Service; and (ii) if any applicable payment period begins in one Plan Year and ends in the following Plan Year, the Participant shall not have the right to designate the year of the payment.


More Definitions of Top-50 Employee

Top-50 Employee means an employee described in the Company’s Procedures for Determining Top-50
Sample 1

Related to Top-50 Employee

  • Public employee means an individual holding a position by appointment or employment in the government of this state, in the government of 1 or more of the political subdivisions of this state, in the public school service, in a public or special district, in the service of an authority, commission, or board, or in any other branch of the public service, subject to the following exceptions:

  • SpinCo Employee has the meaning set forth in the Employee Matters Agreement.

  • Tipped employee means any employee engaged in an occupation in which s/he customarily and regularly receives more than $30 per month in tips. Tips include amounts designated as a tip by credit card customers on their charge slips. Nothing in this rule prevents an employer from requiring employees to share or allocate such tips or gratuities on a pre-established basis among other employees who customarily and regularly receive tips. Employer-required sharing of tips with employees who do not customarily and regularly receive tips, such as management or food preparers, or deduction of credit card processing fees from tipped employees, shall nullify allowable tip credits towards the minimum wage.

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

  • Qualifying Employee means any employee of Managing Agent or Parent or any of their respective subsidiaries who is and has been an employee of Managing Agent or Parent or any of their respective subsidiaries for at least thirty-six (36) months.

  • Casual Employee means an employee who has no set hours or days of work and who is normally asked to work as and when required.

  • Newly hired employee or “New Hire” means any employee, whether permanent, full-time, or part-time, hired by the Office and who is still employed as of the date of new employee orientation. It also includes all employees who are or have been previously employed by the Office and whose current position has placed them in the bargaining unit represented by CSEA. For those latter employees, for purposes of this article only, the “date of hire” is the date upon which the employees’ employment status changed as such that the employee was placed in the CSEA unit.

  • Company Employee means an employee of the Company or an employee of a Subsidiary of the Company, if any.

  • Ongoing employee means an employee who has been employed for at least one complete standard measurement period.

  • Retired employee means an employee of the state who retired after April 29, 1971,

  • Regular Employee is one who is hired to work on a full-time or part-time basis on regularly scheduled shifts of a continuing nature;

  • School employee means (1) a teacher, substitute teacher, school administrator, school superintendent, guidance counselor, psychologist, social worker, nurse, physician, school paraprofessional or coach employed by a local or regional board of education or working in a public elementary, middle or high school; or (2) any other individual who, in the performance of his or her duties, has regular contact with students and who provides services to or on behalf of students enrolled in a public elementary, middle or high school, pursuant to a contract with the local or regional board of education.

  • Key Employee means any executive-level employee (including, division director and vice president-level positions) as well as any employee who, either alone or in concert with others, develops, invents, programs, or designs any Company Intellectual Property (as defined in the Purchase Agreement).

  • Designated Employee means an employee who has been designated by the school to receive complaints of hazing, harassment and bullying pursuant to subdivision 16 V.S.A. 570a(a)(7). The designated employees for each school building are identified in Appendix A of this policy.

  • Former Employee means an individual who has severed employment with the Employer or an Affiliated Employer.

  • U.S. Employee means a person who is an employee of the Company (or of any Subsidiary) for purposes of section 422 of the Code.

  • Affiliated employee means any individual employed by a recipient who receives compensation directly from government assistance or a contract with the District of Columbia government, including any employee of a contractor or subcontractor of a recipient who performs services pursuant to government assistance or a contract. The term “affiliated employee” does not include those individuals who perform only intermittent or incidental services with respect to the government assistance or contract, or who are otherwise employed by the contractor, recipient or subcontractor.

  • Current Employee has the meaning set forth in Section 7.8(a).

  • Retained Employee does not include any individual who has a direct or an indirect ownership interest of at least five percent (5%) in the profits, equity, capital, or value of the Taxpayer, or a child, grandchild, parent, or spouse, other than a spouse who is legally separated from the individual, of any individual who has direct or indirect ownership interest of at least five percent (5%) of the profits, equity, capital or value of the Company.

  • Active Employee means a contributing member of the TRS who is employed by a public school and is not entitled to coverage under a plan provided under Insurance Code Chapter 1551 (Texas Em- ployees Group Benefits Act) or 1601 (State University Employees Uniform Insurance Benefits Act).

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

  • Transferred Employee has the meaning set forth in Section 6.01(a).

  • Relevant Employee means the Previous Contractor Employees, the Previous Contractor Third Party Employees and Previous Contractor Sub-contractor Employees;

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

  • Hired Employee has the meaning set forth in Section 6.1.6.

  • Regular Part-Time Employee means an employee who is appointed to a regularly scheduled position but works less than full-time. A regular part-time employee is entitled to all benefits outlined in the agreement on a pro rata basis, except where otherwise specified.