Retirement Eligible Director definition

Retirement Eligible Director means an Eligible Director who has completed at least five years of Director Service and has attained age 55.

Examples of Retirement Eligible Director in a sentence

  • A Retirement Eligible Director who makes the election provided in this Section 3(b) must waive any right to the conversion of the reduction in the amount of the life insurance.

  • A Retirement Eligible Director whose Normal Retirement Date occurs after the Effective Date and who, in accordance with Section 3(b)(5) below, elected to receive the optional death and retirement benefit described in Section 3(b)(3) below shall receive such optional death and retirement benefit.

  • This account could have been provided total access to the master repository, or restricted access using path-based permissions.

  • A Retirement Eligible Director who resigns from the Board of Directors on or after January 1, 1993 and prior to such director’s Normal Retirement Date may elect the optional death and retirement benefit described in Section 3(b)(3) below, with approval of the Board of Directors.

  • A Retirement Eligible Director who resigns from the Board of Directors on or after January 1, 1993 and prior to such director's Normal Retirement Date and who, in accordance with Section 3(b)(5) below, elected to receive the optional death and retirement benefit described in Section 3(b)(3) below shall receive such optional death and retirement benefit with approval of the Board of Directors.

Related to Retirement Eligible Director

  • 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.

  • 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.

  • 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 Directors means, with respect to a Regulated Fund and a Potential Co-Investment Transaction, the members of the Regulated Fund’s Board eligible to vote on that Potential Co-Investment Transaction under Section 57(o) of the Act (treating any registered investment company or series thereof as a BDC for this purpose).

  • Separates from Service or “Separation from Service” means the Participant’s termination of service as a non‑employee director and as an employee of UGI for any reason other than death and shall be determined in accordance with section 409A of the Code.

  • Deferred Retirement Date means, in the case of any Participant who continues in employment after his Normal Retirement Date, the first day of any month following his actual retirement.

  • Active Participant means a Participant who has satisfied the eligibility requirements under Section 3 and who has at least 1,000 Hours of Service during the current Plan Year. However, a Participant shall not qualify as an Active Participant unless (i) he is in active Service with an Employer as of the last day of the Plan Year, or (ii) he is on a Recognized Absence as of that date, or (iii) his Service terminated during the Plan Year by reason of Disability, death, or Normal Retirement.

  • Disability Retirement Date means the first day of the month following the last day of paid employment;

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

  • 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.

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

  • Eligible employer means any municipality with a municipal

  • Disability retirement for plan 1 members, means the period

  • Employee Director means a member of the Board of Directors of the Company that is also an Employee of the Company.

  • Nonemployee Director means a Director who is not an Employee.

  • Accrued Benefit means the amount standing in a Participant's Account(s) as of any date derived from both Employer contributions and Employee contributions, if any.

  • FTR Participant means any Market Participant that provides or is required to provide Collateral in order to participate in PJM’s FTR auctions.

  • Severance from Service Date means the earlier of:

  • Deferral Year means each calendar year during which the Trustee makes, or is entitled to make, Compensation Deferrals under Section 3 hereof.

  • Deferral Date means the date Fees would otherwise have been paid to the Participant.

  • Plan Benefit means the benefit payable to a Participant as calculated in Article V.

  • Retirement Age means the earlier to occur of:

  • 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).

  • Deferral Election means the Participant’s election under Section 3.1 to defer all or a portion of his or her Compensation.

  • Retirement Date means the date as of which a Participant retires for reasons other than Total and Permanent Disability, whether such retirement occurs on a Participant's Normal Retirement Date or Late Retirement Date (see Section 6.1).

  • Pre-Retirement Survivor Benefit means the benefit set forth in Article 6.