Separation Year definition

Separation Year means the calendar year in which the Separation Date occurs.

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Separation Year means the Company’s taxable year that includes the Separation Date.

Separation Year means the Determination Year during which the Employee separates from service with the Employer or performs no services for the Employer. An Employee shall be deemed to have a Separation Year if, during a Determination Year prior to attainment of Age 55, the Employee's Annual Compensation is less than 50% of the Employee's average

Examples of Separation Year in a sentence

With respect to a Former Employee whose Separation Year was prior to January 1, 1987, such Former Employee will be treated as a Highly Compensated Employee only if the Former Employee was a 5% Owner or received Compensation in excess of $50,000 during (i) the Former Employee's Separation Year (or the year preceding such Separation Year); or (ii) any year ending on or after such Former Employee's 55th birthday (or the last year ending before such Former Employee's 55th birthday).
A Former Employee is a Highly Compensated Employee if (applying the rules of Section 12.02 the Former Employee was a Highly Compensated Employee during a Separation Year or during any Determination Year ending on or after the Former Employee's 55th birthday.
A Former Employee is a Highly Compensated Employee if (applying the rules of Section 14.02(a) or (b)) the Former Employee was a Highly Compensated Employee during a Separation Year or during any Current Year ending on or after the Former Employee's 55th birthday.

More Definitions of Separation Year

Separation Year means the determination year in which the Employee Severs from Service.

Separation Year is the "determination year" in which an Employee separates from service.

Separation Year shall have the meaning set forth in Section 4(a).