Separation Account definition

Separation Account means the Participant Account distributable in the event of the Participant’s Separation from Service in accordance with Section 6.1.
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Separation Account means: (i) the sum of the Participant’s Annual Deferral Amount that may be allocated in whole or in part by a Participant pursuant to his or her deferral election to the Separation Account for each Plan Year, plus (ii) amounts credited (net of amounts debited, which may result in an aggregate negative number) from Deemed Investment Options, less (iii) all distributions made to, or withdrawals by, the Participant and his or her Beneficiary, and tax withholding amounts which may have been deducted from the Participant’s Separation Account. At the time of the Participant’s deferral election for each Plan Year, the Participant may specify the form in which payment shall be made to the Participant or his or her Beneficiary from this Account. The Participant may be permitted to change the form of payment subject to Paragraph 6.7 (Subsequent Changes in the Time or Form of Payment) below.
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Separation Account means a portion of a Participant's Account reflecting an amount to be distributed pursuant to Participant's election under Section 7.01(a)(i).
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Examples of Separation Account in a sentence

  • In the event there is a Change of Control of Cendant, (i) any amounts remaining in the Separation Account shall be repaid to Realogy and Wyndham prior to such Change of Control based on their respective Applicable Percentage and Cendant shall no longer have any rights with respect to administering Separation Expenses pursuant to this Section 5.6 and (ii) Realogy shall administer any remaining Separation Expenses in accordance with Article VII.

  • No Separation Account shall be created in the event a Travelport Sale is not completed.

  • All representations and warranties contained herein and in the LTIP Agreement, the SAR Agreement, the SERP, the Restoration Plan, the PBEC and the Separation Account shall survive the execution and delivery of this Agreement.

  • If at the end of any applicable month the funds in the Separation Account are greater than the then applicable Separation Fund Amount, such excess shall be a Cendant Contingent Asset and Cendant shall promptly pay to Realogy and Wyndham such amounts based on their Applicable Percentage.

  • If the Plan Administrator possesses (or is deemed to possess, as provided in Paragraph 4.3(c) above) at any time Deemed Investment directions of less than 100% of a Participant’s Separation Account, or Plan Sponsor Contribution Account, the Participant shall be deemed to have directed that the undesignated portion of the said Account(s) be deemed to be invested in a money market, fixed income, or similar fund made available under this Plan as determined by the Plan Administrator.

  • This Agreement, the LTIP Agreement, the SAR Agreement, the SERP, the Restoration Plan, the PBEC and the Separation Account contain the complete agreement among the parties hereto and supersede any prior understandings, agreements or representations by or among the parties hereto, written or oral, that may have related to the subject matter hereof in any way, including, without limitation, the Employment Agreement.

  • On the first day of each month following April 1, 2007, Cendant shall provide Realogy and Wyndham with a statement setting forth the amount of cash in the Separation Account.

  • Annual Deferral Amounts shall be credited to a Participant’s Separation Account at the time such amounts would otherwise have been paid to a Participant.

  • In the event that any such statement provides that the funds in the Separation Account are less than the then applicable Separation Fund Amount, each of Realogy and Wyndham shall, promptly following receipt of such statement, deposit an amount equal to their respective Applicable Percentage of such deficiency into such Separation Account.


More Definitions of Separation Account

Separation Account means an Account established for distribution of Participant deferrals elected pursuant to Section 3.5(b) or (c) of the Plan to commence following Separation from Service or, in the absence of such election, which are defaulted to payment under the provisions of Section 3.5.1.
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Separation Account means an Account established by the Committee in accordance with a Participant’s Compensation Deferral Agreement to record Deferrals allocated to such Account by the Participant and that are payable upon the Participant’s Separation from Service in accordance with Section 6.3.
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Separation Account shall have the meaning set forth in Section 5.6.
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Separation Account means a portion of a Participant’s Account reflecting an amount to be distributed pursuant to Participant’s election on Termination of Employment.
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Separation Account means a Participant Account distributable upon Separation from Service in accordance with Section 6.1.
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Related to Separation Account

  • Retention Account means, an interest bearing USD account in the name of the Borrowers opened or (as the context may require) to be opened by the Borrowers with the Bank and includes any sub-accounts thereof and any other account designated in writing by the Bank to be the Retention Account for the purposes of this Agreement;

  • Distribution Accounts Collectively, the Upper-Tier REMIC Distribution Account, the Lower-Tier REMIC Distribution Account, the Excess Interest Distribution Account (and in each case any subaccount thereof), all of which may be subaccounts of a single Eligible Account.

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • Rollover Contribution Account means, for any Participant, the account described in Section 12.1 or 12.2, as established by the Administrator or the Trustee, to which the Participant's Rollover Contribution, if any, is allocated.

  • Company Contribution Account means (i) the sum of the Participant’s Company Contribution Amounts, plus (ii) amounts credited or debited to the Participant’s Company Contribution Account in accordance with this Plan, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant’s Company Contribution Account.