Definition of Tennination of Employment


Tennination of Employment means tetmination of employment from the Controlled Group, as determined in accordance with rules set forth in IRS regulations under Code Section 409A (generally a decrease in the performance of services to no more than 20% of the average for the preceding 36-month period); provided, however, to the extent petmitted by the regulations issued under Code Section 409A, a "Termination of Employment" does not occur if a Participant is on a military leave, sick leave or other bona fide leave of absence granted by the Company or an Affiliated Company.
Sample 1

Examples of Tennination of Employment in a sentence

The vested portion of the Participant's Account shall be paid (or commence to be paid in the case of installment payments) on the sixth month anniversary of the date of such Participant's Tennination of Employment.