Most Recent Years definition

Most Recent Years means the three calendar years immediately preceding the year of termination; provided, however that if, at the time of termination Executive has not been employed by the Company for the entire year in each of the three immediately calendar years, then “Most Recent Years” means the immediately preceding calender year(s) (not to exceed two years) during which Executive was employed for the entire year by the Company. In addition, upon a termination of Executive’s employment due to death or Disability, stock options then held by Executive will be exercisable to the extent and for such periods indicated in, and otherwise be governed by, the plans and programs (and agreements and other documents thereunder) pursuant to which such stock options were granted. Furthermore, for the period extending from such termination until Executive reaches age 65, Executive shall continue to participate in all health, medical and life insurance plans, programs and arrangements (including those self-funded by the Company) under Section 5(b) in which Executive was participating immediately prior to termination (“Insurance Plans”), as if Executive had continued in employment with the Company during such period. To the extent that the Insurance Plans do not allow such continued participation, the Company shall make cash payments to Executive equivalent on an after-tax basis to the value of the benefits Executive would have received under the Insurance Plans if Executive had so continued in the employment of the Company during such period and had continued to participate in the Insurance Plans, provided that (i) the value of any insurance-provided benefits (including under self-funded Insurance Plans) will be based on the premium cost to Executive, which shall not exceed the highest risk premium charged by a carrier having an investment grade or better credit rating, and (ii) such cash payments by the Company shall be made within 60 days after the Executive submits reasonable evidence to the Company of Executive’s payment of such premiums.
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Most Recent Years means the immediately preceding calender year(s) (not to exceed two years) during which Executive was employed for the entire year by the Company. In addition, upon a termination of Executive’s employment due to death or Disability, stock options then held by Executive will be exercisable to the extent and for such periods indicated in, and otherwise be governed by, the plans and programs (and agreements and other documents thereunder) pursuant to which such stock options were granted. Furthermore, for the period extending from such termination until Executive reaches age 65, Executive shall continue to participate in all health, medical and life insurance plans, programs and arrangements (including those self-funded by the Company) under Section 5(b) in which Executive was participating immediately prior to termination (“Insurance Plans”), as if Executive had continued in employment with the Company during such period. To the extent that the Insurance Plans do not allow such continued participation, the Company shall make cash payments to Executive equivalent on an after-tax basis to the value of the benefits Executive would have received under the Insurance Plans if Executive had so continued in the employment of the Company during such period and had continued to participate in the Insurance Plans, provided that (i) the value of any insurance-provided benefits (including under self-funded Insurance Plans) will be based on the premium cost to Executive, which shall not exceed the highest risk premium charged by a carrier having an investment grade or better credit rating, and (ii) such cash payments by the Company shall be made within 60 days after the Executive submits reasonable evidence to the Company of Executive’s payment of such premiums.
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Examples of Most Recent Years in a sentence

  • Any Events that Had Significant Impact on Shareholders’ Equity or Security Price as Prescribed by Subparagraph 2, Paragraph 3, Article 36 of Securities and Exchange Act during the Most Recent Years and up to the Date of this Annual Report Printed...............................................................................................................................................

  • B.F., On the Structure of Turbulence and a Generalised Eddy Dissipation Concept for Chemical Reactions in Turbulent Flow, 19th AIAA Aerospace Science Meeting, 12-15 January 1981, St. Louis, Missouri, USA.

  • The Shares in the Company Held or Disposed of by Subsidiaries in the Most Recent Years 147iv.

  • The Shares in the Company Held or Disposed of by Subsidiaries in the Most Recent Years ........................

  • Private Placement Securities in the Most Recent Years .................................................................................

  • Number of Employees, Average Years of Services, Average Age, and Education in the Two Most Recent Years up to the Date of Publication of This Report 66 4.

  • Figure 4: Grade 12 Graduation – Students Completing Grade 12 Within Five Years: Baseline Year with Two Most Recent Years Notes:First Nations, Metis and Inuit (FNMI) student results are determined based on student self-identification.

  • The Shares in the Company Held or Disposed of By Subsidiaries in the Most Recent Years 186IV.

  • The Shares in the Company Held or Disposed of by Subsidiaries in the Most Recent Years 135iv.

  • Difficulties in Financial Turnover in the Most Recent Years and Up to the Date of Publication of the Annual Report of the Company and Its Affiliated Company 159VII.

Related to Most Recent Years

  • Most Recent Fiscal Year End has the meaning set forth in Section 4(g) below.

  • Adjustment Year has the meaning ascribed to said phrase under Section 6225(d)(2) of the Code.

  • Most Recent Fiscal Month End has the meaning set forth in Section 4(g) below.

  • Agreement Year means each twelve (12) month period of the term of this Agreement beginning on the first day of the calendar year except for the “First Agreement Year” which shall mean the period commencing on the Effective Date and ending on December 31, 2003.

  • Current year means the financial year, which has already commenced, but not yet ended;

  • Payment Year means the calendar year during which the applicable Initial Year Payments or Annual Payments are due pursuant to subsection V.B. Payment Year 1 is 2022, Payment Year 2 is 2023 and so forth. References to payment “for a Payment Year” mean the Initial Year Payments or Annual Payment due during that year. References to eligibility “for a Payment Year” mean eligibility in connection with the Initial Year Payments or Annual Payment due during that year.

  • Three-Year Period means, with respect to a Restatement, the three completed fiscal years immediately preceding the date that the Board, a committee of the Board, or the officer or officers of the Company authorized to take such action if Board action is not required, concludes, or reasonably should have concluded, that the Company is required to prepare such Restatement, or, if earlier, the date on which a court, regulator or other legally authorized body directs the Company to prepare such Restatement. The “Three-Year Period” also includes any transition period (that results from a change in the Company’s fiscal year) within or immediately following the three completed fiscal years identified in the preceding sentence. However, a transition period between the last day of the Company’s previous fiscal year end and the first day of its new fiscal year that comprises a period of nine to 12 months shall be deemed a completed fiscal year.

  • Assessment year means the period of twelve months commencing on the 1st day of April every year;

  • Prior Month Receipt Period With respect to each Distribution Date, the calendar month preceding the month in which such Distribution Date occurs.

  • Planning Period Quarter means any of the following three month periods in the Planning Period: June, July and August; September, October and November; December, January and February; or March, April and May.

  • Twelve-Month Period means a twelve-month period ending on the first anniversary of the Effective Date or on each subsequent anniversary thereof.

  • Most Recent Balance Sheet means the balance sheet contained within the Most Recent Financial Statements.

  • Fiscal Year End means December 31 of each calendar year.

  • Relevant Year t means the Financial Year for the purposes of which any calculation falls to be made; "Relevant Year t-1" means the Financial Year preceding Relevant Year t, and similar expressions shall be construed accordingly;

  • relevant year means a year commencing at 00:00 hours on 1 April and ending at 23:59 hours on the following 31 March;

  • First Year means the intake group of Students for the most junior class or year in a school.

  • Gas Year means the period of 365 or 366 Gas Days, as the case may be, beginning at October 1st at 06:00 hours (Belgian time) and ending at September 30th 06:00 hours (Belgian time) of the next year.

  • Previous year means the year preceding the current year;

  • Contract Year means each period of twelve (12) consecutive months during the Initial Term of this Agreement, with the first Contract Year commencing on the Effective Date, and with each subsequent Contract Year commencing on the anniversary of the Effective Date.

  • Preceding year means a period of 12 consecutive months fixed by the division

  • Income year means any year or accounting period beginning 1 July of one calendar year and ending 30 June of the following calendar year or any other period that the Trustees by resolution adopt;

  • Year means a calendar year.

  • Quarterly Period means each period of three (3) consecutive months ending on March 31, June 30, September 30, and December 31.

  • Sales Year means the calendar year during which the Company sold Cigarettes in a Beneficiary State requiring the deposit of QEF Principal.

  • Calendar Year means each successive period of twelve (12) months commencing on January 1 and ending on December 31.

  • Grant Year has the same meaning as in subclause 1(1) of Schedule 1 of HESA; ‘HESA’ means the Higher Education Support Xxx 0000; ‘maximum basic grant amount’ or ‘MBGA’ has the same meaning as in subclause 1(1) of Schedule 1 of HESA.