Newly Eligible Participant definition

Newly Eligible Participant means any Eligible Employee who (i) has a Commencement Date after January 1, 2018, (ii) as of his Commencement Date, is not eligible to participate in an “aggregated plan,” and (iii) if he previously participated in the Plan or an “aggregated plan”, has as of his Commencement Date either (A) received payments of all amounts previously deferred under the Plan and any “aggregated plan” as of the Commencement Date, and on or before the last payment was not eligible to continue participation in the Plan or any “aggregated plan” for periods after the last payment, or (B) regardless of whether he has received full payment of all amounts deferred under the Plan or an “aggregated plan,” ceased to be eligible to participate in the Plan and any “aggregated plan” (other than the accrual of earnings) for a period of at least twenty-four (24) consecutive months prior to his new Commencement Date. For purposes of this definition, an “aggregated plan” is any plan that is required to be aggregated with the Plan under Code Section 409A. For purposes of clarity, the portion of the Plan consisting of the right to defer Base Compensation and Annual Bonuses shall be treated as separate and apart from, and shall not aggregated with, the portion of the Plan consisting of the right to receive credits of Company Contributions.

Newly Eligible Participant means a person who first

Newly Eligible Participant means a participant who first

Examples of Newly Eligible Participant in a sentence

• If a Newly Eligible Participant fails to make a Deferral Election within 30 days of initial eligibility to participate, then such Newly Eligible Participant may make an initial Deferral Election (and Distribution Election, pursuant to Section 6.2(b) below) only with respect to Fees and Director Stock Awards earned in subsequent calendar years.

• If the Deferral Request is not submitted and accepted within 30 days, the Newly Eligible Participant shall not be permitted to make a Deferral Request with respect to any portion of the Award for such year.

• Notwithstanding the provisions of Section 3(a)(i), an Employee who is newly hired and therefore qualifies as a Newly Eligible Participant is eligible to participate in the Plan Year in which he or she is first hired, subject to the provisions of Section 3.3, and in the immediately following Plan Year if his or her base salary is equal to or exceeds the Code Section 401(a)(17) limit for the then-current Plan Year.

• Unless the Participant is a Newly Eligible Participant as provided in subsection (b) below, such Deferral Request must be filed with and accepted by the Committee or its designee by no later than December 31 of the year immediately prior to the year for which such Award is made.

• This Section 3.1 applies to each Eligible Employee or Director who is a Newly Eligible Participant in the portion of the Plan relating to the right to defer Base Salary or Director Fees and whose Deferral Commencement Date occurs after the first day of a calendar year but prior to December 1 of such calendar year (or such earlier date as specified by the Committee from time to time).

More Definitions of Newly Eligible Participant

Newly Eligible Participant means any Eligible Employee or Director who (i) has a Commencement Date after January 1, 2008, (ii) as of his Commencement Date, is not eligible to participate in an “aggregated plan”, and (iii) if he previously participated in the Plan or an “aggregated plan”, has either (A) received payments of all amounts previously deferred under the Plan and any “aggregated plan” as of the Commencement Date, and on or before the last payment was not eligible to continue participation in the Plan or any “aggregated plan” for periods after the last payment, or (B) regardless of whether he has received full payment of all amounts deferred under

Newly Eligible Participant means any Eligible Employee or Director who has not previously participated in the Plan or an “aggregated plan” and is not currently a participant of an “aggregated plan”. For purposes of this definition, an “aggregated plan” is any plan that is required to be aggregated with the Plan under Section 409A of the Code. For purposes of clarity, the portion of the Plan consisting of the right to defer Base Salary, Incentive Compensation and Director Fees shall be treated as separate and apart from, and shall not aggregated with, the portion of the Plan consisting of the right to receive credits of Company Contributions.

Newly Eligible Participant means an Eligible Employee who is not, and has not been, eligible to make any deferral elections under any nonqualified deferred compensation plan that would be aggregated with this Plan under Section 409A of the Code and the guidance issued thereunder.

Newly Eligible Participant means a Director or Key Executive who first becomes eligible to participate in the Plan following the commencement of a given Year.

Newly Eligible Participant means an Employee who has been determined eligible to participate in the Plan for the first time during the applicable Plan Year or an Employee who has experienced a Termination and is re-hired and becomes eligible to participate in the Plan again whether during the same Plan Year or a subsequent Plan Year.

Newly Eligible Participant means a Participant who has become eligible to participate in the Plan within the last thirty (30) days.

Newly Eligible Participant means a Non-Employee Director who is not previously eligible to make any deferral elections under any nonqualified deferred compensation plan that would be aggregated with this Plan under Section 409A of the Code and the regulations promulgated thereunder.