Separation from Service Benefit definition

Separation from Service Benefit means the benefit set forth in Article 5.
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Separation from Service Benefit means the benefit set forth in Section 5.1.
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Examples of Separation from Service Benefit in a sentence

  • Separation from Service Benefit means the benefit payable to a Participant under the Plan following the Participant’s Separation from Service.

  • If the Separation from Service Benefit is to be paid in the form of installments, any subsequent installment payments will be paid on the anniversary of the date such payments commence.

  • Permissible alternate forms of payment for the Separation from Service Benefit are: (A) substantially equal annual installments over a period of two to ten years, as elected by the Participant, or (B) a lump sum payment of a designated percentage of the Separation from Service Benefit, with the balance paid in substantially equal annual installments over a period of two to ten years, as elected by the Participant.

  • A Participant may also specify in his or her Compensation Deferral Agreement the Payment Schedule applicable to his or her benefits, including his or her Separation from Service Benefit and Specified Date Benefit(s), subject to the terms of the Plan.

  • Should an event occur that triggers payment of a Separation from Service Benefit under Article 5, any Annual Deferral Amount, plus amounts credited or debited thereon, that is subject to a Short-Term Payout election under Section 4.1 shall not be paid in accordance with Section 4.1 but shall be paid in accordance with Article 5.

  • The payout shall not exceed the lesser of the Participant’s Account Balance, calculated as if such Participant were receiving a Separation from Service Benefit, or the amount reasonably needed to satisfy the Unforeseeable Financial Emergency.

  • Separation from Service Benefit means the benefit payable under the Plan in accordance with Section 6.1(a).

  • A Participant who is entitled to receive a Separation from Service Benefit shall receive payment of such benefit in a single lump sum, unless the Participant elects an alternate form of payment on the initial Compensation Deferral Agreement upon which an allocation of Deferrals is made to the Separation from Service Account (or the initial Compensation Deferral Agreement that precedes the Plan Year in which a Discretionary Contribution is allocated to the Separation from Service Account).

  • Payment of the Separation from Service Benefit will be made (or begin in the case of installments) according to the Participant’s election on: (i) first Business Day that follows the first January 15th following the Participant’s Separation from Service, or (ii) the first anniversary of the date specified in the immediately preceding (i).

  • If the Payment Schedule for a Separation from Service Benefit is not specified in a Compensation Deferral Agreement, the Payment Schedule shall be in a single lump sum and the distribution will be made as soon as is administratively practical on or after the first Business Day that follows the first January 30th following the Participant’s Separation from Service.

Related to Separation from Service Benefit

  • Separation from Service means a “separation from service” (within the meaning of Section 409A).

  • Severance from Service Date means the earlier of:

  • 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.

  • Termination of Employment means that the Executive ceases to be employed by the Company for any reason, voluntary or involuntary, other than by reason of a leave of absence approved by the Company.

  • Severance from Employment means severance from employment with the Employer and any Related Entity. However, a Severance from Employment also occurs on any date on which an Employee ceases to be an employee of a public school, even though the Employee may continue to be employed by a Related Employer that is another unit of the State or local government that is not a public school or in a capacity that is not employment with a public school (e.g., ceasing to be an employee performing services for a public school but continuing to work for the same State or local government employer).

  • Termination Benefit means the benefit set forth in Article 7.

  • Specified Employee means a key employee (as defined in Section 416(i) of the Code without regard to paragraph 5 thereof) of the Company if any stock of the Company is publicly traded on an established securities market or otherwise.

  • Service benefit means the credit toward retirement benefits as determined by the

  • Change in Control Benefit means the benefit described in Section 2.4.

  • 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.

  • Severance Benefit means the payment of severance compensation as provided in Article III.

  • Normal Retirement Benefit means the benefit described in Section 2.1.

  • Qualified employee means an individual who:

  • Separation Benefits has the meaning accorded such term in Section 3.04.

  • Involuntary Termination of Employment means any termination of Executive's employment by the Company and its subsidiaries, other than a termination for Cause or due to death or Disability.

  • Disability retirement for plan 1 members, means the period

  • Qualified employment position means a permanent full-time

  • Change in Control Benefits means the following benefits:

  • Retirement Age means the earlier to occur of:

  • Disability benefit recipient means a member who is receiving a disability benefit.

  • Section 409A Deferred Compensation means compensation provided pursuant to an Award that constitutes nonqualified deferred compensation within the meaning of Section 409A.

  • Section 409A Change in Control means a change in the ownership or effective control of the Company, or in the ownership of a substantial portion of the Company’s assets, as provided in Section 409A(a)(2)(A)(v) of the Code and Treasury Regulations Section 1.409A-3(i)(5) (without regard to any alternative definition thereunder).

  • Termination Benefits means the benefits described in Section 4.1(b).

  • Retirement Benefit means the benefit set forth in Article 5.

  • war disablement pension means any retired pay or pension or allowance payable in respect of disablement under an instrument specified in section 639(2) of the Income Tax (Earnings and Pensions) Act 2003;

  • Nonqualifying Termination means a termination of the Executive’s employment (1) by the Company for Cause, (2) by the Executive for any reason other than a Good Reason, (3) as a result of the Executive’s death or (4) by the Company due to the Executive’s absence from his duties with the Company on a full-time basis for at least 180 consecutive days as a result of the Executive’s incapacity due to physical or mental illness.