nonqualified definition
nonqualified. “Nonqualified” simply means that the arrangement does not meet the various requirements of Section 401 of the Internal Revenue Code. In order to be a “qualified” plan, a plan must meet those Section 401 requirements. Typical “qualified” plans include pension plans, profit-sharing plans, 401(k) plans, money purchase plans, and Keogh plans. The fact that a NQDC does not have to satisfy the detailed requirements of Section 401 makes NQDC arrangements different from “qualified” plans in many important ways. Some of the major differences are:
nonqualified stock options in Circuit City stock, that will be scheduled to vest in June 2006. In addition, the Executive will receive fifty thousand (50,000) "sign-on" nonqualified stock options in Circuit City stock, that will be scheduled to vest in four (4) equal installments over the next four (4) years from the date of the formal grant of such stock options.
nonqualified. This contract issued to other than a qualified plan. OWNER: See "You, Your, Yours" below.
More Definitions of nonqualified
nonqualified stock option and is not intended to qualify as an “incentive stock option.”
nonqualified. The Certificate issued to other than a qualified plan.
nonqualified stock options rather than "incentive" stock options. All other stock options held by Will▇▇▇▇ ▇▇▇ch were not vested and exercisable as of March 15, 1995 are terminated and of no further force and effect.
nonqualified. This contract issued other than as a qualified plan.
nonqualified which means that there is a significant amount of flexibility in establishing the plan terms, as long as certain legal requirements are met.