Exempt Participant definition

Exempt Participant is a Participant who is not subject to the joint and survivor requirements of Article VI. The spousal consent requirement in this paragraph does not apply if the Exempt Participant and his spouse are not married throughout the one year period ending on the date of the Participant's death, or if the Participant's spouse is the Participant's sole primary Beneficiary.
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Exempt Participant means any Participant (i) whose employment with the Company terminates as a result of such Participant's death or Disability (as defined below); (ii) which the Plan Committee determines (in its sole discretion) will be exempted from the forfeiture provisions described above and will therefore be entitled to have Awards become vested upon termination of employment; or (iii) whose employment with the Company is on a part-time basis at the date of grant of Awards and is employed by the Company on a part-time basis at the time of the Vesting Event. "Disability" means any physical or mental incapacitation which results in a Participant's inability to perform such Participant's duties and responsibilities to the Company for a total of [60] business days during any twelve-month period, as determined in good faith by the Plan Committee.
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Exempt Participant means any Participant (i) whose employment with the Company terminates as a result of such Participant's death or Disability (as defined below) and (ii) which the Plan Committee determines (in its sole discretion) will be exempted from the forfeiture provisions described above and will therefore be entitled to have Awards become vested upon such termination. "Disability" means any physical or mental incapacitation which results in a Participant's inability to perform such Participant's duties and responsibilities to the Company for a total of 60 business days during any twelve-month period, as determined in good faith by the Plan Committee. Receipt of an Award by any Participant in any one year does not entitle such Participant to receive an Award in any other year.
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Examples of Exempt Participant in a sentence

  • An "Exempt Participant" is a Participant who is not subject to the joint and survivor requirements of Article VI.

  • If the Plan is a profit sharing plan, the Beneficiary designation of a married Exempt Participant is not valid unless the Participant's spouse consents (in a manner described in Section 6.05) to the Beneficiary designation.

  • The spousal consent requirement in this paragraph does not apply if the Exempt Participant and his spouse are not married throughout the one year period ending on the date of the Participant's death, or if the Participant's spouse is the Participant's sole primary Beneficiary.

  • The Beneficiary designation of a married Exempt Participant, as described in Section 6.04(G), is not valid unless the Participant's spouse consents (in a manner described in Section 6.04(A)(7)) to the Beneficiary designation.

  • The Beneficiary designation of a married Exempt Participant, as described in Section 6.04(G), is not valid unless the Participant’s spouse consents (in a manner described in Section 6.04(A)(7)) to the Beneficiary designation.

  • Do not apply because the Plan is not an ERISA Plan or do not apply to an Exempt Participant as described in Section 6.04(G).

  • The spousal consent requirement in this Section 8.01(B) does not apply if the Participant's spouse is the Participant's sole primary Beneficiary, or if the Exempt Participant and his/her spouse are not married throughout the one-year period ending on the date of the Participant's death.

  • If the Plan is a profit sharing plan, the Beneficiary designation of a married Exempt Participant, as described in Section 6.04(H), is not valid unless the Participant's spouse consents (in a manner described in Section 6.05) to the Beneficiary designation.

  • If the Employer elects to apply the one-year marriage rule under this Section 7.05(A)(3), but the Participant is not an Exempt Participant (such that the QJSA and QPSA requirements apply to the Participant), the one-year marriage rule under Section 6.04(B) applies to the QPSA.

  • If the Plan is a Profit Sharing Plan which the Employer under Section 6.04(G) has elected in its Adoption Agreement to exempt all Exempt Participants from the QJSA and QPSA requirements of Section 6.04, the Beneficiary designation of a married Exempt Participant, as described in Section 6.04(G), is not valid unless the Participant's spouse consents (in a manner described in Section 6.04(A)(7)) to the Beneficiary designation.

Related to Exempt Participant

  • 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;

  • CDS Participant means a broker, dealer, bank or other financial institution or other person for whom, from time to time, CDS effects book entries for the Units deposited with CDS.

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

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

  • Section 162(m) Participant means any key Employee designated by the Administrator as a key Employee whose compensation for the fiscal year in which the key Employee is so designated or a future fiscal year may be subject to the limit on deductible compensation imposed by Section 162(m) of the Code.

  • Designated Participant means a key Employee of the Company or any other Participating Company who is designated by the Committee in writing to participate in the Program.

  • Qualified Participant means any Participant or Former Participant who has completed ten (10) Years of Service as a Participant and has attained age 55.

  • 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.

  • Exchange Participant means (a) the Bank which is a person registered as a China Connect Exchange Participant (as defined in the SEHK China Connect Rules) by SEHK; or (b) where the context requires, any China Connect Exchange Participant (as defined in the SEHK China Connect Rules).

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

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

  • Market Participant means a Market Buyer, a Market Seller, an Economic Load Response Participant, or all three, except when such term is used in Tariff, Attachment M, in which case Market Participant shall mean an entity that generates, transmits, distributes, purchases, or sells electricity, ancillary services, or any other product or service provided under the PJM Tariff or Operating Agreement within, into, out of, or through the PJM Region, but it shall not include an Authorized Government Agency that consumes energy for its own use but does not purchase or sell energy at wholesale.

  • Current Participant means a Class Member who has an Active Account in one or both the Plans as of August 5, 2020.

  • 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).

  • Active Participant means a Participant who has satisfied the eligibility requirements under Section 3 and who has at least 1,000 Hours of Service during the current Plan Year. However, a Participant shall not qualify as an Active Participant unless (i) he is in active Service with an Employer as of the last day of the Plan Year, or (ii) he is on a Recognized Absence as of that date, or (iii) his Service terminated during the Plan Year by reason of Disability, death, or Normal Retirement.

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

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

  • Loan Participant means each Purchaser and its respective successors and registered assigns, including any Certificate Holder.

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

  • 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.

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

  • California Participant means a Participant whose Award is issued in reliance on Section 25102(o) of the California Corporations Code.

  • Grandfathered Stockholder has the meaning set forth in Section 1.1.

  • Eligible employer means any municipality with a municipal

  • 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:

  • Qualified employee means an individual who: