Upon a Participant definition

Upon a Participant s Termination of Employment (for any reason other than Retirement), the vested portion of the Participant's SERP benefits shall be distributed to the Participant in a lump sum cash payment as soon as administratively practicable after the Valuation Date coinciding with or immediately following such Termination of Employment. The amount to be distributed to a Participant pursuant to this Section 5.2 shall be the value of the vested portion of the Participant's Account as of the Valuation Date coinciding with or immediately following the Participant's Termination of Employment.
Sample 1
Upon a Participant s Retirement, the Participant's SERP benefits shall be distributed to the Participant in a lump sum cash payment or in substantially equal annual cash installments over a fixed period not to exceed such period established by the Committee or its delegate, as elected by the Participant in accordance with Section 5.5.
Sample 1
Upon a Participant s Retirement on or after his Normal Retirement Date, all amounts credited to the Participant's Account shall become fully vested and nonforfeitable and such Account shall be distributed in accordance with this Article.
Sample 1

Examples of Upon a Participant in a sentence

  • Upon a Participant ceasing to be an Eligible Participant for Cause, any vested or unvested Option granted to such Participant shall terminate automatically and become void immediately.

  • Upon a Participant ceasing to be an Eligible Participant for “cause”, all unexercised vested or unvested Share Units and Options granted to such Participant shall terminate on the effective date of the termination as specified in the notice of termination.

  • Upon a Participant ceasing to be an Eligible Participant for Cause, any vested or unvested Option or SAR granted to such Participant shall terminate automatically and become void immediately.

  • Upon a Participant ceasing to be an Eligible Participant for any reason, any Unvested Shares that have not vested at such time shall automatically and without any requirement of notice to such Participant, or other action by or on behalf of the Corporation, be deemed to have been reacquired by the Corporation from such Participant, and thereafter shall cease to represent any ownership in the Corporation by the Participant or rights of the Participant as a shareholder of the Corporation.

  • Upon a Participant ceasing to be an Eligible Participant for “Cause”, all unexercised vested or unvested Awards granted to such Participant shall terminate on the effective date of the termination as specified in the notice of termination.

  • Upon a Participant ceasing to be an Eligible Participant by reason of death, any vested Option or SAR granted to such Participant may be exercised by the liquidator, executor or administrator, as the case may be, of the estate of the Participant for that number of Shares only which such Participant was entitled to acquire under the respective Options or SARs (the “Vested Awards”) hereof on the date of such Participant’s death.

  • Upon a Participant ceasing to be an Eligible Participant by reason of death, any vested Option granted to such Participant may be exercised by the liquidator, executor or administrator, as the case may be, of the estate of the Participant for that number of Shares only which such Participant was entitled to acquire under the respective Options (the “Vested Awards”) on the date of such Participant’s death.

  • Upon a Participant ceasing to be an Eligible Participant as a result of his or her employment or service relationship with the Company or a Subsidiary being terminated without Cause, (i) any unvested Option granted to such Participant shall terminate and become void immediately and (ii) any vested Option granted to such Participant may be exercised by such Participant.

  • Upon a Participant electing a voluntary leave of absence of more than twelve (12) months, including maternity and paternity leaves, the Board may determine, at its sole discretion but subject to applicable laws, that such Participant’s participation in the Plan shall be terminated, provided that all vested Options or SARs in the Participant’s Account shall remain outstanding and in effect until the applicable exercise date, or an earlier date determined by the Board at its sole discretion.

  • Upon a Participant ceasing to be an Eligible Participant as a result of his or her employment or service relationship with the Corporation or a Subsidiary being terminated without Cause, (i) any unvested Option or SAR granted to such Participant shall terminate and become void immediately and (ii) any vested Option or SAR granted to such Participant may be exercised by such Participant as the rights to exercise accrue.


More Definitions of Upon a Participant

Upon a Participant s retirement, or if the Participant has terminated employment and attained age 55, the Participant may elect that his Account balance be distributed in two parts as a percent or in a dollar amount between:
Sample 1
Upon a Participant s: (i) retirement on or after his Normal Retirement Date; (ii) retirement due to disability; (iii) death; or (iv) termination of employment (subject to Section 4.09), he or his Beneficiary shall be entitled to payment in an amount determined in accordance with the provisions of Article 7, 8, 9, or 10. All distributions shall be either solely in cash or solely in whole shares of Company Stock (with the value of any fractional share paid in cash) to the extent such Participant's Account is invested in Company Stock, (but not both) as elected by the Participant or his Beneficiary. The amount to which a Participant is entitled shall be paid to him or his Beneficiary or to an Alternate Payee in: (i) a single lump sum distribution; or (ii) installments subject to the limitations set forth in Subsection 11.01(2)."
Sample 1
Upon a Participant s retirement at or after his Retirement Date, Disability, death or termination of employment, or the occurrence of his Required Beginning Date, the Participant, or in the case of his death, his Beneficiary, shall be entitled to receive a distribution of the assets in his Employee Account and that part of the assets in his Company Account in which he is vested. In the case of a Participant who incurs a One-Year Break-in-Service the assets in his Company Account in which he is vested shall be determined as of his date of termination of employment. The assets to which such Participant is entitled shall be distributed to him as promptly as possible after the end of the calendar month which is thirty (30) days after the later of (i) the date he filed his election under Section 8.2 as to the form of his distribution, (ii) the date he retired, became Disabled, died or terminated his employment or reached his Required Beginning Date or (iii) the anniversary of the date he retired, became Disabled, died or terminated his employment or reached his Required Beginning Date; provided, however, that if the distribution is one to which Sections 401(a) (11) and 417 of the Code do not apply, such distribution may commence less than 30 days after the notice required under Treas. Reg. ss. l.411(a)-11(c) is given, provided that:
Sample 1
Upon a Participant s: (i) retirement on or after his Normal Retirement Date; (ii) retirement due to Disability; (iii) death; or (iv) Termination of Employment (subject to SECTION 4.09), he or his Beneficiary shall be entitled to payment in an amount determined in accordance with the provisions of ARTICLE 7, 8, 9 or 10. All distributions shall be in either cash or in whole shares of Company Stock to the extent such Participant's Account is invested in Company Stock, as elected by the Participant or his Beneficiary. The amount to which a Participant is entitled shall be paid to him or his Beneficiary or to an Alternate Payee in: (i) a single lump sum distribution; or (ii) installments subject to the limitations set forth in SUBSECTION 11.01(2).
Sample 1

Related to Upon a Participant

  • A Participant or beneficiary ("claimant") who has not received benefits under the Plan that he or she believes should be paid shall make a claim for such benefits as follows:

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

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

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

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

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

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

  • Key participant means a sole proprietor, a partner in partnership, or a person with executive managerial control in a corporation. A person with executive managerial control includes persons such as a chief executive officer, chief operating officer and chief financial officer. This definition does not include non-executive managers such as farm, field, or shift managers.

  • Requesting Participant means a Participant initiating an RFQ.

  • U.S. Participant means a Participant who is a citizen of the United States or a resident of the United States, as defined in section 7701(a)(30)(A) and section 7701(b)(1) of the Code and any other Participant who is subject to tax under the Code with respect to compensatory awards granted pursuant to the Plan;

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

  • Designated Participant means such employees or officers of the Company or a related entity of the Company as the Board may designate from time to time as eligible to participate in the Plan;

  • 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.

  • 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.

  • 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.

  • 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.

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

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

  • First Tier Participant refers to the participant who has entered into a covered transaction with a grantee or subgrantee of Federal funds (such as the prime or general contractor). “Lower Tier Participant” refers any participant who has entered into a covered transaction with a First Tier Participant or other Lower Tier Participants (such as subcontractors and suppliers).

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

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

  • 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).

  • Study Participant means a person recruited to participate in the Study.

  • Plan Participant means a person who is eligible to receive, and is receiving, a pension benefit from the Plan.

  • Retired Participant means a person who has been a Participant, but who has become entitled to retirement benefits under the Plan.

  • Participants is defined in Section 12.2.1.