Eligible Employee Definition Example with 5 Variations
This page contains an example definition of Eligible Employee, followed by definitions with minor variations. You can view the differences between the example and variations by selecting the "Show Differences" option.
Eligible Employee. Shall mean any individual who is a common law employee of the Company or any Designated Subsidiary whose customary employment with the Company or any Designated Subsidiary is at least twenty (20) hours per week and more than five (5) months in any calendar year, or any lesser number of hours per week and/or number of months in any calendar year established by the Administrator (if required under applicable local law) for purposes of any separate Offerings. For purposes of the Plan, the...
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Found in
VIVUS INC contract
Variations
Eligible Employee. Shall mean means any individual who is a common law employee of the Company or any Designated Subsidiary whose customary employment with the Company or any Designated Subsidiary an Employer and is customarily employed for at least twenty (20) hours per week and more than five (5) months in any calendar year, or any lesser number of hours per week and/or number of months in any calendar year established by the Administrator (if required under applicable local law) for purposes of any separate...
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Found in
Tesla contract
Eligible Employee. Shall mean means any individual who is a common law employee of the Company or any Designated Subsidiary whose customary employment with the Company or any Designated Subsidiary an Employer and is at least customarily employed for more than twenty (20) hours per week and more than five (5) months in any calendar year, or any lesser number of hours per week and/or number of months in any calendar year established by the Administrator (if required under applicable local law) for purposes of any...
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Found in
Marcus & Millichap, Inc. contract
Eligible Employee. Shall mean any individual who is a common law employee of the Company or any of its Designated Subsidiary whose customary employment with the Company or any Designated Subsidiary Subsidiaries and is customarily employed for at least twenty (20) hours per week and more than five (5) months in any calendar year, or any lesser number of hours per week and/or number of months in any calendar year established by the Administrator (if required under applicable local law) for purposes of any separate...
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Found in
QUICKLOGIC CORPORATION contract
Eligible Employee. Shall mean any individual who is a common law employee of providing services to the Company or any a Designated Subsidiary whose customary employment with the Company or any Designated Subsidiary and is customarily employed for at least twenty (20) hours per week and more than five (5) months in any calendar year, year by the Employer, or any lesser number of hours per week and/or number of months in any calendar year established by the Administrator (if required under applicable local law) Applicable Laws) for purposes of any separate Offerings. Offering or for Participants in the Non-423 Component. For purposes of the Plan, the employment relationship shall will be treated as continuing intact while the individual is on sick leave or other leave of absence approved by that the Company. Employer approves or is legally protected under Applicable Laws with respect to the Participant's participation in the Plan. Where the period of leave exceeds three (3) months and the individual's right to reemployment is not guaranteed either by statute or by contract, the employment relationship will be deemed to have terminated three (3) months and one (1) day following the commencement of such leave. The Administrator, in its discretion, from time to time may, prior to an Enrollment Date for all options to be granted on such Enrollment Date in an Offering, determine (on (for each Offering under the 423 Component, on a uniform and nondiscriminatory basis or as otherwise permitted by U.S. Treasury Regulation Regulations Section 1.423-2) that the definition of Eligible Employee will or will not include an individual if he or she: (i) (a) has not completed at least two (2) years of service since his or her last hire date (or such lesser period of time as may be determined by the Administrator in its discretion), (ii) (b) customarily works not more than twenty (20) hours per week (or such lesser period of time as may be determined by the Administrator in its discretion), (iii) (c) customarily works not more than five (5) months per calendar year (or such lesser period of time as may be determined by the Administrator in its discretion), (iv) (d) is a highly compensated employee within the meaning of Code Section 414(q) of the Code, 414(q), or (v) (e) is a highly compensated employee within the meaning of Code Section 414(q) of the Code with compensation above a certain level or is an officer or subject to the disclosure requirements of Section 16(a) of the Exchange Act, provided the exclusion is applied with respect to each Offering under the 423 Component in an identical manner to all highly compensated individuals of the Employer whose Employees employees are participating in that Offering. Each exclusion shall will be applied with respect to an Offering under the 423 Component in a manner complying with U.S. Treasury Regulation Regulations Section 1.423-2(e)(2)(ii). Such exclusions may be applied with respect to an Offering under the Non-423 Component without regard to the limitations of U.S. Treasury Regulations Section 1.423-2
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Found in
NavSight Holdings, Inc. contract
Eligible Employee. Shall mean any individual who is a common law employee of the Company or any Designated Subsidiary whose customary employment with the Company or any Designated Subsidiary an Employer and is customarily employed for at least twenty (20) 20 hours per week and more than five (5) months in any calendar year, or any lesser number of hours per week and/or number of 5 months in any calendar year established by the Administrator (if required under applicable local law) for purposes of any separate...
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