Plan Participant definition

Plan Participant means any Insured and Dependent for whom the required premium is paid and a person in a Class of Eligible Persons for whom the required premium is paid making insurance in effect for that person. A Dependent covered is not a Plan Participant, but rather a Dependent.
Plan Participant means a person who is eligible to receive, and is receiving, a pension benefit from the Plan.
Plan Participant means an individual eligible to participate in this Plan (and, thus, to potentially receive bonus(es) under this Plan) if s/he meets each of the following conditions: • Is a regular employee of the Company (temporary and contract personnel are not eligible) and begins employment with the Company prior to October 1, 2013; • Is not a participant in any other GenMark bonus, incentive, variable or sales compensation plan; • Is provided with notice of eligibility to participate in this Plan, including his/her target bonus percentage opportunity under this Plan which is based on his/her position at GenMark; and • Remains employed by GenMark in a position eligible to participate in this Plan through both the Performance Period and through the date bonuses are paid to Participants under this Plan. Once an individual ceases to meet any of the above conditions, the employee ceases to be a Plan Participant and is not eligible to receive or keep any bonus under this Plan. HOW THIS PLAN WORKS This Plan is administered by the Compensation Committee of GenMark’s Board of Directors (the “Compensation Committee”), in its sole business judgment and discretion. The Compensation Committee intends to administer this Plan in accordance with the Performance Goals (as defined below), although it retains the legal right to full and absolute discretion and authority to administer the Plan differently, taking into account any other facts, factors and circumstances that may be relevant at the time bonus pool funding and bonus award determinations are made. Such other facts, factors and circumstances may prompt the Compensation Committee to administer this Plan differently than the Performance Goals may direct, although all of the factors covered by the Performance Goals below will be considered by the Compensation Committee in making bonus pool funding and bonus award determinations. In a snapshot, the Plan works as follows: At the conclusion of the Performance Period, once the Company’s financials have been calculated and results are determined, a bonus pool may be released based on identified criteria. A bonus payout may be calculated based on GenMark’s performance as measured against Financial Goals, Product Development Goals, Organization Goals, and/or Individual Goals, in each case as approved by the Compensation Committee during the first quarter of 2013 (collectively, the “Performance Goals”). Based on performance thresholds, payouts may occur between 0 – 150% of target. Durin...

Examples of Plan Participant in a sentence

All costs and expenses incurred in the administration of the Plan shall be paid by the Corporation; however, each Plan Participant shall bear all costs and expenses incurred by such individual in the sale or other disposition of any shares purchased under the Plan.

A form indicating the beneficiary designations of a Plan Participant.

Such account shall reflect the number of Phantom Shares credited to the Plan Participant under the Plan.

The person or persons last designated in writing by a Plan Participant in accordance with procedures established by the Committee to receive the amounts payable under the Plan in the event of the Plan Participant’s death.

A Plan Participant may also name a Contingent Beneficiary(ies) to receive amounts payable under the Plan upon the Participant’s death if there is no surviving Primary Beneficiary(ies).


More Definitions of Plan Participant

Plan Participant means each of Robert E. Ostendorf, Jr., Gary LaChey, Frank Headington, Timothy Koller, William Martin, Steve Shaffer, John Andrews, Robert Gitter, Dennis O’Brien, Joseph Harvey, Ronald Schmucker, Jeffrey S. Jenkins and any other employee of the Company Group selected by the Board or the Committee.”
Plan Participant means any current employee of the Company that is designated by the Chief Executive Officer (“CEO”), and approved by the Compensation Committee of the Board as eligible to participate in this Plan. Newly hired or newly promoted employees must be approved by the CEO to participate in the Plan. The CEO or Board will determine the level of participation eligible to the new employee.
Plan Participant means a Participant, Terminated Participant or Transferee.
Plan Participant means:
Plan Participant means an individual eligible to participate in this Plan (and, thus, to potentially receive bonus(es) under this Plan) if s/he satisfies each of the following conditions:
Plan Participant means a Director or Senior Management Employee of Lorus;