Qualified Year definition

Qualified Year as used herein shall mean a Computation Year during which a Participant shall have accumulated at least 400 Credited Hours. 42Section 24A. Spouse The term “spouse” as used herein, whether or not capitalized, shall include a same sex spouse married in a jurisdiction that legally recognizes same sex marriage at the time the marriage is entered into, provided such marriage remains valid and recognized in the jurisdiction in which the marriage occurred.

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Qualified Year as used herein shall mean a Computation Year during which a Participant shall have accumulated at least 400 Credited Hours. The term “spouse” as used herein, whether or not capitalized, shall include a same sex spouse married in a jurisdiction that legally recognizes same sex marriage at the time the marriage is entered into, provided such marriage remains valid and recognized in the jurisdiction in which the marriage occurred. 45 Section 22 is AMENDED in its entirety, August 27, 2003, retroactively effective October 23, 2002. 47 AMENDED – Amendment XXXIV, February 28, 2001, retroactively effective December 26, 1999. 48 ADDED – Amendment LXXVIII, February 25, 2010, effective June 1, 2010. 1993 Restated Trust Agreement (Inclusive of Amendments I through XCV)

Qualified Year means each Plan Year in which the Company achieves Net Profit that is at least 80% of the applicable Net Profit Target for such Plan Year (for the avoidance of doubt, “Qualified Year” includes any Plan Year in which Net Profit exceeds 100% of the applicable Net Profit Target for such Plan Year).

Examples of Qualified Year in a sentence

In addition to the requirements set forth above, no Employee (other than an Employee who is already a Participant on August 2, 1992) shall become a Participant until the last day of the Computation Year in which he completes a Qualified Year (or, if earlier, the July 1 following the completion of the twelve month period, starting on the date the Employee earns his first Credited Hour, during which the Employee accumulates 400 Credited Hours).
In addition, if the Participant had either 18 or 28 Qualified Years at the end of the Plan Year ending in 1989, he shall be credited with an additional Qualified Year at the End of the Plan Year ending in 1991.
This Agreement constitutes and will continue to constitute a legal, valid and enforceable obligation of the Purchaser.
In addition, if the Participant had either 18 or 28 Qualified Years at the end of the Plan Year ending in 1989, he shall be credited with an additional Qualified Year at the end of the Plan Year ending in 1991.

More Definitions of Qualified Year

Qualified Year as used herein is set forth in Section 24 of Article I of the Motion Picture Industry Pension Plan Restated 1993 Trust Agreement, revised January 2015.)