Eligible Executive definition

Eligible Executive means an employee of the Company selected as being eligible to participate in this Plan under Section C.1.a.
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.

Examples of Eligible Executive in a sentence

  • Notwithstanding the foregoing, during a Change in Control Protection Period, no amendment or termination of the Plan or the Release shall impair any rights of, or obligations to, any Eligible Executive under the Plan (including the removal of an individual as an Eligible Executive) or the Release unless such Eligible Executive expressly consents to such amendment or termination.

  • All benefits due to an Eligible Executive under the Plan are unfunded and unsecured and are payable out of the general assets of the Company.

  • Any Eligible Executive that the Committee determines is entitled to severance payments or benefits under the Plan is not required to file a claim for such payments or benefits.

  • Any Eligible Executive (i) who is not paid severance payments or benefits hereunder and who believes that such Eligible Executive is entitled to severance payments or benefits hereunder or (ii) who has been paid severance payments or benefits hereunder and believes that such Eligible Executive is entitled to greater benefits hereunder may file a claim for severance payments or benefits under the Plan in writing with the Committee.

  • In the event an Eligible Executive is covered by any other plan, program, policy, individually negotiated agreement or other arrangement, in effect as of the Eligible Executive’s Date of Termination, that may duplicate the payments and benefits provided for in Sections 5(a) or 5(b), as applicable, the Committee is specifically empowered to reduce or eliminate the duplicative benefits provided for under the Plan.


More Definitions of Eligible Executive

Eligible Executive means an Executive who is eligible to participate in the Plan as provided in Section 2.01.
Eligible Executive means the Company's Chief Executive Officer and each other executive officer of the Company that the Committee determines, in its discretion, is or may be a "covered employee" of the Company within the meaning of Section 162(m) of the Code and Section 1.162-27(c)(2) of the Regulations.
Eligible Executive means those persons described in Article IV hereof.
Eligible Executive means the Company's Chief Executive Officer and any other designated executive officer of the Company that in the Committee's judgment could, in the absence of the Plan, be paid compensation the deductibility of which, to the Company, could be limited by Section 162(m) of the Code.
Eligible Executive means an employee of the Employer, or its affiliate or subsidiary, who is eligible to participate in this Plan under Section C.
Eligible Executive means a key employee of the Company or any of its subsidiaries who: (a) is designated by the Administrator as eligible to participate in the Plan; and (b) qualifies as a member of theselect group of management or highly compensated employees” under ERISA.