Separates definition

Separates or "SEPARATION" or similar shall mean a Participant's termination of employment with the Company or any affiliate of the Company for any reason (including death or disability); provided that, with respect to Post-2004 Deferrals, such terms shall have such meaning as provided under the Act.

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Separates and “Separation” shall mean a Participant’s termination of employment with Snap-on Incorporated and any subsidiary employer for any reason (including death or disability).

Separates. SEPARATED," or "SEPARATION" shall mean an Employee's ceasing to be an Employee by reason of a termination of employment with the Employer for any reason (including death or Disability), and a Director's ceasing to serve on the Board.

Examples of Separates in a sentence

If the Executive voluntarily Separates from Service during the Service Period, excluding a Separation from Service for Good Reason as described in Subsection 3(c), this Agreement shall terminate without further obligations of the Company to the Executive under this Agreement, other than for payment of Accrued Obligations and the timely payment or provision of Other Benefits.
If the Executive Separates from Service before the Executive’s Normal Retirement Date for reasons other than death and a Change of Control has not occurred, the Bank shall pay to the Executive the benefit described in this Section 2.2.
Absent any delay imposed by Code Section 409A, (i.e. the 5 year delay for subsequent deferral elections, the 6 month delay for specified employees, etc.), payments shall commence or be made on the first day of the first month following the month in which Participant Separates From Service and shall continue thereafter for a period of one hundred and twenty (120) months.
If the Participant Separates from Service with the Employer, the vested balance in the Deferred Compensation Account shall be paid to the Participant by the Employer as provided in Section 7.
The term “Applicable Percentage” is the percentage of the Executive Benefit to which Executive may be entitled based on (a) the date on which the Executive Separates From Service or Terminates Employment with the Bank or (b) the circumstances described herein.
If the Executive Separates from Service on or after the Executive’s Normal Retirement Date for reasons other than death, the Bank shall pay to the Executive the benefit described in this Section 2.1.
During the Key Employee Delay, interest shall accrue on the Severance Amount at the “prime rate” as reported by SunTrust Bank or its successor on the date Executive Separates from Service or, if such rate is not reported on such date, such rate as so reported on the last business day before Executive Separates from Service.
Notwithstanding the foregoing, if Executive is a Key Employee, the Severance Amount shall be paid in a lump sum on the first day of the seventh month following the date on which Executive Separates from Service (or, if earlier, the first day of the month after Executive’s death) (the “Key Employee Delay”).
Separates no later than one hundred and eighty (180) days following the date of application for the benefit.
Payment of this annual amount shall be made in twelve (12) substantially equal monthly installments on the first day of each month, with payments commencing the month following the month in which Director Separates from Service, continuing monthly thereafter until Director’s death (with 2% annual increase).

More Definitions of Separates

Separates and “Separation” shall mean a Participant’s termination of employment with Snap-on Incorporated and any subsidiary

Separates. Separated,"or "Separation" ................................. 9 "Shares" ................................................................ 9 "Stock" ................................................................. 9 "Stock Plan" ............................................................ 9 "Trust" ................................................................. 9 "Trustee" ............................................................... 9 "Valuation Date" ........................................................ 9 "Value" ................................................................. 10 "Vested" ................................................................ 10 NON-QUALIFIED DEFERRED COMPENSATION PLAN This Agreement, entered into effective December 30, 1998, and restated in its entirety in the form hereof on July 22, 1999, but effective as of December 30, 1998, establishes the FelCor Lodging Trust Incorporated Non-Qualified Deferred Compensation Plan, an unfunded, non-qualified, deferred compensation plan, designed primarily to provide additional benefits to a select group of management personnel and Directors in order to retain and motivate such individuals whose efforts are critical to the success of the Company. Because the Plan is unfunded and is maintained by the Company primarily for the purpose of providing deferred compensation for a select group of management or highly compensated employees, the Plan is exempt from the participation, vesting, funding and fiduciary responsibility requirements of parts 2, 3 and 4 of Title I of ERISA.

Separates or "Separation" or similar shall mean a Participant's termination of employment with an Employer for any reason (including death or disability).

Separates. “Separated,” or “Separation” shall mean an Employee’s ceasing to be an Employee by reason of a termination of employment with the Employer for any reason (including death or Disability), and a Director’s ceasing to serve on the Board.

Separates means to separate from employment with the Company and its Affiliates no later than the Eligible Participant's Qualified Separation Date and in accordance with the terms and conditions of the ISEP.