SEPARATION FROM definition

SEPARATION FROM. SERVICE shall have the meaning determined pursuant to regulations or other guidance issued with regard to Section 409A of the Code. Until further guidance is issued, Separation from Service shall mean Termination of Employment as defined in Section 1.22.
View Source
SEPARATION FROM. Service shall mean any termination of the Executive’s employment with the Bank pursuant to which the level of services provided by the Executive to the Bank (whether as an employee or as a consultant) is permanently reduced to a level of services that is 49% or less than the services provided in the immediately preceding 36 months and with respect for which the Bank and Executive reasonably anticipate that a significant reduction in the Executive’s services will lead to a cessation of services or a reduction to less than 20% of the Executive’s previous level of services. This definition is intended to comply with the definition of Separation from Service in Section 409A of the Code and the regulations issued thereunder.
View Source
SEPARATION FROM. Service shall mean any termination of employment with the Bank and any affiliate of the Bank pursuant to which the aggregate level of services provided by the Executive to the Bank and any such affiliate of the Bank (whether as an employee or a consultant) is permanently reduced to a level of services that is 49% or less than the level of services provided in the immediately preceding 12 months. This definition is intended to comply with Section 409A and the regulations issued thereunder. 2. Section 3.1 of the SERP be amended by deleting in its entirety the sentence following the bullet point that begins “The Executive shall have the right until the later of……”, and replacing it with the following” The Executive shall have the right until December 31, 2008, to elect the form of payment in which his or her benefit is to be paid.” 3. A new Section 3.19 shall be added to the SERP as follows:
View Source

Examples of SEPARATION FROM in a sentence

  • By: Its: THE GRANTEE ACKNOWLEDGES AND AGREES THAT THE UNITS SHALL VEST, IF AT ALL, ONLY DURING THE PERIOD THAT THE GRANTEE IS PROVIDING SERVICES TO THE COMPANY OR A RELATED ENTITY AND HAS NOT OTHERWISE INCURRED A SEPARATION FROM SERVICE OR AS OTHERWISE SPECIFICALLY PROVIDED HEREIN (NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED THIS AWARD OR ACQUIRING SHARES HEREUNDER).

  • PARTICIPANT ELECTIONS PRIOR TO SEPARATION FROM SERVICE - REGULAR MATCHING CONTRIBUTIONS ACCOUNT AND EMPLOYER CONTRIBUTIONS ACCOUNT.

  • Therefore, by this release I GIVE UP ANY RIGHT TO MAKE A CLAIM, BRING A LAWSUIT, FILE AN ADMINISTRATIVE CHARGE OF DISCRIMINATION OR OTHERWISE SEEK MONEY DAMAGES OR COURT ORDERS AS A RESULT OF MY EMPLOYMENT BY DATALINK, OR OF MY SEPARATION FROM EMPLOYMENT WITH DATALINK.

  • ANY DISPUTE ARISING OUT OF THIS AGREEMENT, THE EMPLOYEE'S APPLICATION FOR EMPLOYMENT, THE EMPLOYEE'S RELATIONSHIP WITH THE COMPANY, OR THE EMPLOYEE'S EMPLOYMENT OR SEPARATION FROM EMPLOYMENT SHALL BE SUBJECT TO ARBITRATION PURSUANT TO THE COMPANY'S ARBITRATION PROCEDURES.

  • SEPARATION FROM EMPLOYMENT Upon separation from employment, including retirement, sick leave cannot be converted to vacation leave, or otherwise paid to a worker, unless disability is the reason for termination, in which case sick leave will be paid.

  • THE PARTIES AGREE TO WAIVE ANY RIGHT TO A JURY TRIAL IF ANY CLAIM ARISING OUT OF EMPLOYEE’S EMPLOYMENT, HIS SEPARATION FROM THAT EMPLOYMENT AND/OR THIS AGREEMENT IS FILED IN COURT.

  • SEPARATION FROM SERVICE -- The termination or permanent severance of a Participant's employment with the employer for any reason that is a separation from service within the meaning of the Plan.

  • EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING BROUGHT BY ANY PARTY HERETO ARISING OUT OF OR RELATED TO THIS AGREEMENT OR EXECUTIVE’S EMPLOYMENT WITH OR SEPARATION FROM COMPANY.

  • SAFE HARBOR CONTRIBUTIONS MADE ARE SUBJECT TO THE WITHDRAWAL RESTRICTIONS OF CODE SECTION 401(k)(2)(B) AND TREASURY REGULATIONS SECTION 1.401(k)-1(d); SUCH CONTRIBUTIONS (AND EARNINGS THEREON) MUST NOT BE DISTRIBUTABLE EARLIER THAN SEPARATION FROM SERVICE, DEATH, DISABILITY, AN EVENT DESCRIBED IN CODE SECTION 401(k)(10), OR IN THE CASE OF A PROFIT-SHARING OR STOCK BONUS PLAN, THE ATTAINMENT OF AGE 59 1/2.

  • NOTWITHSTANDING ANY OTHER PROVISION OF THIS AGREEMENT, IF YOU ARE A SPECIFIED EMPLOYEE (WITHIN THE MEANING OF SECTION 409A), NO PAYMENTS SHALL BE MADE TO YOU PURSUANT TO THIS AWARD DUE TO A SEPARATION FROM SERVICE FOR ANY REASON BEFORE THE DATE THAT IS SIX MONTHS AFTER THE DATE ON WHICH YOU INCUR SUCH SEPARATION FROM SERVICE.