Non-Key Eligible Employee definition

Non-Key Eligible Employee means those Eligible Employees who are not Key Eligible Employees and includes a former Key Eligible Employee.
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Examples of Non-Key Eligible Employee in a sentence

  • Notwithstanding any other language herein, a Non-Key Eligible Employee may not fail to receive a defined contribution minimum allocation because either (1) said Eligible Employee was excluded from participation (or accrues no benefit) merely because the Employee's compensation is less than the stated amount, or (2) the Employee is excluded from participation (or accrues no benefit) merely because of a failure to make Elective Deferrals.

  • For each Plan Year in which the Plan is Top-Heavy or Super Top-Heavy, minimum Employer contributions for a Participant who is a Non-Key Eligible Employee shall be required to be made on behalf of each Participant who is employed by the Employer on the last day of the Plan Year, regardless of the level of his Compensation and regardless of the number of Hours of Service he has completed during such Plan Year.

  • In determining whether a Non-Key Eligible Employee has received any required minimum contribution, the contributions allocated to such Non-Key Eligible Employee made pursuant to Section 4.1(a) or (b) shall not be considered minimum contributions.

  • Notwithstanding any provisions herein to the contrary, no Key Employee may have allocated to the Key Employee's Account for such Plan Year Before-Tax, Company Matching or Supplemental Contributions which, expressed as a percentage of the Key Employee's Compensation, exceed the Company Matching and Supplemental Contribution also expressed as a percentage of Compensation, of that Non-Key Eligible Employee whose Company Matching and Supplemental Contribution is the lowest percentage.

  • A Participant who is a Non-Key Eligible Employee shall not fail to accrue a Minimum Annual Retirement Benefit because of (i) his level of Compensation or (ii) a failure to make mandatory Eligible Employee contributions.

  • Notwithstanding any provisions herein to the contrary, no Key Employee may have allocated to the Key Employee's 88 Account for such Plan Year Before-Tax, Company Matching or Supplemental Contributions which, expressed as a percentage of the Key Employee's Compensation, exceed the Company Matching and Supplemental Contribution also expressed as a percentage of Compensation, of that Non-Key Eligible Employee whose Company Matching and Supplemental Contribution is the lowest percentage.

Related to Non-Key Eligible Employee

  • Eligible Employee means full-time and part-time employees in the bargaining unit who have completed four hundred and fifty (450) hours of service and who are not prohibited from contributing to the Plan by legislation or the Plan rules because of their age or because they are in receipt of a pension from the Plan.

  • Eligible employer means any municipality with a municipal

  • Non-Key Employee means any Employee who is not a Key Employee.

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

  • Eligible Employees means each employee of the Company or an Affiliate.

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

  • Active Participant means, with respect to any day or date, a Participant who is in Service on such day or date; provided, that a Participant shall cease to be an Active Participant (i) immediately upon a determination by the Committee that the Participant has ceased to be an Employee or Independent Contractor, or (ii) at the end of the Plan Year that the Committee determines the Participant no longer meets the eligibility requirements of the Plan.

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

  • Key Executive means an employee of a Textron Company who has been and continues to be designated as a Key Executive under the Plan by Textron’s Chief Executive Officer and Chief Human Resources Officer.

  • Key Employee means any executive-level employee (including, division director and vice president-level positions) as well as any employee who, either alone or in concert with others, develops, invents, programs, or designs any Company Intellectual Property (as defined in the Purchase Agreement).

  • 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.

  • Retirement Eligible means that the Participant has either attained age 55 and completed ten (10) years of Service as an Employee or attained age 60 and completed five (5) years of Service as an Employee.

  • Covered Executive means any “executive officer” of the Company as defined under Rule 10D-1.

  • 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.

  • Qualified Participant means a Participant who has attained age 55 and who has completed at least 10 years of participation in the Plan.

  • Participating employee means an employee whose election to participate in a Plan has been approved by the employer.

  • 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.

  • Plan Participant means a person who is eligible to receive, and is receiving, a pension benefit from the Plan.

  • Active Employee means a contributing member of the TRS who is employed by a public school and is not entitled to coverage under a plan provided under Insurance Code Chapter 1551 (Texas Em- ployees Group Benefits Act) or 1601 (State University Employees Uniform Insurance Benefits Act).

  • Non-Employee Director means a Director who either (i) is not a current employee or officer of the Company or an Affiliate, does not receive compensation, either directly or indirectly, from the Company or an Affiliate for services rendered as a consultant or in any capacity other than as a Director (except for an amount as to which disclosure would not be required under Item 404(a) of Regulation S-K promulgated pursuant to the Securities Act (“Regulation S-K”)), does not possess an interest in any other transaction for which disclosure would be required under Item 404(a) of Regulation S-K, and is not engaged in a business relationship for which disclosure would be required pursuant to Item 404(b) of Regulation S-K; or (ii) is otherwise considered a “non-employee director” for purposes of Rule 16b-3.

  • 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;

  • Eligible Director means a person who is (i) a “non-employee director” within the meaning of Rule 16b-3 under the Exchange Act, and (ii) an “outside director” within the meaning of Section 162(m) of the Code.

  • 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).

  • Executive Employee means those employees of the Company of Grade Level 10 or above.