Specified Employee Defined Clause Samples
The "Specified Employee Defined" clause establishes the criteria for identifying which employees are considered "specified employees" under a particular plan or regulation, often in the context of deferred compensation or tax rules. Typically, this involves referencing objective standards such as job title, compensation level, or other factors set by law or company policy, and may include a list or description of qualifying positions. The core function of this clause is to ensure clarity and compliance with legal requirements by precisely defining who is subject to special rules or restrictions, thereby preventing ambiguity and potential disputes.
Specified Employee Defined. For purposes of this Agreement, the term “Specified Employee” means certain officers and highly-compensated employees of the Company as defined in Treas. Reg. § 1.409A-1(i), and as determined in accordance with such procedures as may be adopted from time to time by the Company.
Specified Employee Defined. As used in this Agreement, the term “Specified Employee” means a “specified employee” as defined in Section 409A(a)(2)(B)(i) of the Code. By way of clarification, “specified employee” means a “key employee” (as defined in Section 416(i) of the Code, disregarding Section 416(i)(5) of the Code) of the Company. Employee shall be treated as a key employee if the Employee meets the requirement of Section 416(i)(1)(A)(i), (ii), or (iii) at any time during the twelve (12) month period ending on an “identification date”. If Employee is a “key employee” as of an identification date, he shall be treated as a Specified Employee for the twelve (12) month period beginning on the first day of the fourth month following such identification date. For purposes of any Specified Employee determination hereunder, the “identification date” shall mean the last day of the calendar year.
Specified Employee Defined. “Specified Employee” shall mean an employee who at the time of Separation from Service is a key employee of Rural/Metro, if any stock is publicly traded on an established securities market or otherwise. For purposes of this Agreement, an employee is a key employee if the employee meets the requirements of Code Section 416(i)(1)(A)(i), (ii), or (iii) (applied in accordance with the regulations thereunder, disregarding Section 416(i)(5)) at any time within the twelve- (12-) month period ending on December 31 (the “identification period”). If the employee is a key employee during an identification period, the employee is treated as a key employee for purposes of this Agreement during the twelve- (12-) month period that begins on the first day of January following the close of the identification period.