Separated from Service definition

Separated from Service means termination of the Employee’s employment as a common-law employee of the Company. A Separation from Service will not be deemed to have occurred if the Employee continues to provide services to the Company in a capacity other than as an employee and if the Employee is providing services at an annual rate that is fifty percent (50%) or more of the services rendered, on average, during the immediately preceding three full calendar years of employment with the Company (or if employed by the Company less than three years, such lesser period) and the annual remuneration for such services is fifty percent (50%) or more of the annual remuneration earned during the final three full calendar years of employment (or if less, such lesser period); provided, however, that a Separation from Service will be deemed to have occurred if the Employee’s service with the Company is reduced to an annual rate that is less than twenty percent (20%) of the services rendered, on average, during the immediately preceding three full calendar years of employment with the Company (or if employed by the Company less than three years, such lesser period) or the annual remuneration for such services is less than twenty percent (20%) of the annual remuneration earned during the three full calendar years of employment with the Company (or if less, such lesser period).
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Separated from Service means Executive’s termination of employment from Orion and each entity that is required to be included in Orion’s controlled group of corporations within the meaning of Code Section 414(b), or that is under common control with Orion within the meaning of Code Section 414(c); provided that the phrase “at least 50 percent” shall be used in place of the phrase “ at least 80 percent” each place it appears therein or in the regulations thereunder (collectively, “409A affiliates”). Notwithstanding the foregoing:
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Separated from Service means either: (i) the reduction of Grantee’s employment services to the Company to an annual rate less than twenty percent (20%) of the services rendered by the Grantee, on average, during the immediately preceding three full calendar years of employment with the Company (or, if employed by the Company less than three years, such lesser period) and with annual remuneration for such services less than twenty percent (20%) of the annual remuneration earned by Grantee during the three full calendar years of employment with the Company (or if less, such lesser periods) or such other reduction in Grantee’s employment which, based on the applicable facts and circumstances, indicates that the Company and Grantee did not intend for Grantee to provide more than insignificant employment services to the Company; or (ii) termination of Grantee’s employment as a common-law employee of the Company; provided, however, that a Separation from Service will not be deemed to have occurred if the Grantee continues to provide services to the Company following such termination of employment in a capacity other than as an employee at an annual rate that is fifty percent (50%) or more of the services rendered, on average, by Grantee during the immediately preceding three full calendar years of employment with the Company (or, if employed by the Company less than three years, such lesser period) and the annual remuneration for such services is fifty percent (50%) or more of the annual remuneration earned by Grantee during the final three full calendar years of employment (or, if less, such lesser period).
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Examples of Separated from Service in a sentence

  • The Employer will contribute % of each Participant's Includible Compensation each Plan Year commencing with the Plan Year in which the Participant has Separated from Service and then for the next calendar years (not to exceed 5 calendar years) following the Plan Year in which the Participant Separated from Service.

  • If the Company cures the Good Reason condition during the Cure Period, and Employee Separates from Service due to such condition (notwithstanding its cure), then Employee shall not be deemed to have Separated from Service for Good Reason.

  • Notwithstanding any other provision of this Section 4(a) to the contrary, no Event of Termination shall be deemed to have occurred unless the Executive also has Separated from Service with the Company, as defined in Exhibit A, in accordance with Internal Revenue Code Section 409A and the regulations promulgated thereunder (“Section 409A”).

  • If, in the absence of a Change of Control, Executive terminates his/her employment under this Agreement for Good Reason and is Separated from Service, Executive shall be entitled to severance and benefits as if Executive were terminated by the Corporation without Cause under Section 7.

  • The Employer will contribute % of each Participant’s Includible Compensation each Plan Year commencing with the Plan Year in which the Participant has Separated from Service and then for the next calendar years (not to exceed 5 calendar years) following the Plan Year in which the Participant Separated from Service.

  • Each Participant who Separated from Service more than six months before the date of a Change of Control, including those already receiving installment payments, will be paid a single payment of his entire remaining vested Account balance on the date of a Change of Control or as soon thereafter as is administratively practicable.

  • The term “Early Voluntary Termination” means that the Director, prior to attaining the Early Retirement Age, has voluntarily Separated from Service with the Company.

  • Any amount that (i) is payable upon termination of Executive’s employment with the Company under any provision of this Agreement, and (ii) is subject to the requirements of Code Section 409A, shall not be paid unless and until the Executive has Separated from Service.

  • No former Employee will be eligible to receive such an allocation for a calendar year beginning more than 5 years after the Employee Separated from Service.] Eligible Former Employees.

  • In the event that Executive is Separated from Service as a result of “Permanent Disability” during the Term, Executive shall receive a lump sum payment equal to (90) days of Executive’s then applicable Base Salary.


More Definitions of Separated from Service

Separated from Service means that the Executive has experienced a Termination of Employment. In the event that an Executive continues to provide services considered “significant” to the Bank, either as an employee or as an independent contractor, a Separation from Service will not be deemed to have occurred. “Significant” services, for purposes of this Agreement, are those where (1) the Executive provides services in the capacity as an employee at an annual rate equal to at least 20 percent of the services rendered during the immediately preceding three full calendar years of employment, and the annual remuneration for such services is equal to at least 20 percent of the average remuneration earned during the immediately preceding three full calendar years of employment (or, if the Executive was employed for less than three years, such lesser period); or (2) the Executive continues to provide services to the Bank in a capacity other than as an employee, and if the Executive provide those services at an annual rate that is at least 50 percent or more of the service rendered, on average, during the final three full calendar years of employment (or, if less, such lesser period) and the annual remuneration for such services is at least 50 percent or more of the average annual remuneration earned during the immediately preceding three full calendar years of employment (or if less, such lesser period). This definition of Separation from Service shall at all times be construed to comply with the rules set forth in the 409A Proposed Regulations, issued September 29, 2005, or any subsequent regulations.
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Separated from Service means the termination of an employment relationship between the Company and an Employee resulting from resignation, discharge, retirement, or failure to return from work after an authorized leave of absence.
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Related to Separated from Service

  • 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.

  • Severance from Service Date means the earlier of:

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

  • Severance from Employment means the severance of the Participant’s employment with the City. A Participant shall be deemed to have severed his or her employment with the City when, in accordance with the established practices of the City, the employment relationship is considered to be terminated.

  • Termination of Service means: