Vested Employee definition

Vested Employee means an Employee who has completed 5 years or more of Eligibility Service, or a former Employee who satisfied the vesting requirements of the Plan or the Predecessor Plan which were in effect at the time he ceased to accrue Eligibility Service, provided this sentence shall be effective September 1, 1988. If the Employee is eligible for a Cash Balance benefit under Article 4 of the Curtiss-Wright Corporation Retirement Plan, “Vested Employees” means an Employee who has completed 3 years or more of Eligibility Service.
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Vested Employee means:
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Vested Employee means an Employee, as defined above, who has at least five (5) years of Vested Service, or ten (10) years of Vested Service if the Employee last worked prior to January 1, 1999, and an Employee of the Union and/or Trustees, as defined above, who has at least five (5) years of Vesting Service.
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Examples of Vested Employee in a sentence

  • The term “Pension or Pensions” shall mean a payment made to a Retired Employee, Vested Employee or such individual’s Joint Pensioner according to the provisions of this Retirement System, other than a return of contributions with Interest.

  • Subject to Section 4, the Escrow Agent shall deliver to Employee the certificate representing the Vested Employee Shares on the Disbursement Date.

  • NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued) Vested Employee Benefits (Vacation, Personal, and Sick Leave) Vacation and sick days for the City’s salaried and some hourly employees are determined by the City’s personnel policies, and the remaining City’s hourly employees are determined by the union agreement between the City and the employees’ union.

  • Vested Employee Benefits Sick leave eligibility and accumulation is specified in negotiated labor contracts, and in individual employment contracts.

  • The Vested Employee, or the non-Vested Employee who has not incurred a Five-Year Break prior to January 1, 2012, will retain credit for all Vesting Service completed before a Break in Service regardless of the number of his or her One-Year Breaks.

  • Any Employee Shares that are not placed in the Earn-Out Pool pursuant to this Section 4, and that are not Vested Employee Shares, shall be deemed Unvested Employee Shares and subject to the rights of the Company under Section 5 herein.

  • MRC will then establish an Internal Controls implementation team to develop and implement new written policies and procedures.

  • Compensated Absences (continued) Vested Employee Benefits Payable (continued) Substantially, all Village employees are entitled to certain vacation and sick pay benefits that accrue and vest under various parameters.

  • Vested Employee EquityShares that have vested and have been exercised by employees under the Executive Performance Share Plan are classified and disclosed as Vested Employee Equity.

  • A Covered Vested Employee or the Beneficiary of a Covered Vested Employee may elect to receive either the Frozen GPU Benefit or any other benefit payable under the 1999 FirstEnergy Constituent Plan in full payment of the benefits owed to such Covered Vested Employee or Beneficiary under the 1999 FirstEnergy Constituent Plan.


More Definitions of Vested Employee

Vested Employee means an Employee who terminates employment with the Association at any time prior to retirement and is eligible for a retirement benefit in accordance with Section 5.1 or Section 15.5(b).
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Related to Vested Employee

  • 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.

  • 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.

  • 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.

  • Affected employee means an employee who would be affected by the grant or denial of a variance, or any one of the employee’s authorized representatives, such as the collective bargaining agent.

  • 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.

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

  • Restricted Employee means any person who was a director, employee or consultant of the Company at any time within the Relevant Period who by reason of that position and in particular his seniority and expertise or knowledge of Confidential Information or knowledge of or influence over the clients, customers or contacts of the Company is likely to cause damage to the Company if he were to leave the employment of the Company and become employed by a competitor of the Company;

  • Service employee, means any person engaged in the performance of this contract other than any person employed in a bona fide executive, administrative, or professional capacity, as these terms are defined in Part 541 of Title 29, Code of Federal Regulations, as revised. It includes all such persons regardless of any contractual relationship that may be alleged to exist between a Contractor or subcontractor and such persons.

  • 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.

  • Executive Employee means those employees of the Company of Grade Level 10 or above.

  • 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.

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

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

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

  • 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.

  • Male employee means an employed male who is caring for a child borne of his spouse or a child placed with the employee for adoption purposes.

  • Related Employer means the Employer and (a) any corporation that is a member of a controlled group of corporations as defined in Code Section 414(b) that includes the Employer and (b) any trade or business that is under common control as defined in Code Section 414(c) that includes the Employer.

  • 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).

  • 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.

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

  • 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).

  • 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.

  • Affiliated Employer means any corporation which is a member of a controlled group of corporations (as defined in Code Section 414(b)) which includes the Employer; any trade or business (whether or not incorporated) which is under common control (as defined in Code Section 414(c)) with the Employer; any organization (whether or not incorporated) which is a member of an affiliated service group (as defined in Code Section 414(m)) which includes the Employer; and any other entity required to be aggregated with the Employer pursuant to Regulations under Code Section 414(o).

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

  • Inactive Employee means an employee who is not actively at work due to approved leave of absence, short-term disability leave or military leave.

  • Continuing Employee has the meaning set forth in Section 6.7(a).