Separation From Service Definition Example with 5 Variations

This page contains an example definition of Separation From Service, followed by definitions with minor variations. You can view the differences between the example and variations by selecting the "Show Differences" option.
Separation From Service. In accordance with Section 409A of the Internal Revenue Code ("Code") and the regulations promulgated thereunder, such that the Bank and Executive reasonably anticipate that the level of bona fide services Executive would perform after termination of employment would permanently decrease to a level that is less than 20% of the average level of bona fide services performed (whether as an employee or an independent contractor) over the immediately preceding thirty-six (36)-month period.
Found in OmniAmerican Bancorp, Inc. contract

Variations

Separation From Service. In in accordance with Code Section 409A of the Internal Revenue Code ("Code") and the regulations promulgated thereunder, such that the Bank and Executive reasonably anticipate that the level of bona fide services Executive would perform after termination of employment would permanently decrease to a level that is less than 20% of the average level of bona fide services performed (whether as an employee or an independent contractor) over the immediately preceding thirty-six (36)-month period.
Found in OBA Financial Services, Inc. contract
Separation From Service. In in accordance with Code Section 409A of the Internal Revenue Code ("Code") and the regulations promulgated thereunder, such that the Bank and Executive reasonably anticipate that the level of bona fide services Executive would perform after termination of employment would permanently decrease to a level that is less than 20% 50% of the average level of bona fide services performed (whether as an employee or an independent contractor) over the immediately preceding thirty-six (36)-month... period. View More Arrow
Found in 2 Contracts from Harvard Illinois Bancorp, Inc.
Separation From Service. In in accordance with Code Section 409A of the Internal Revenue Code ("Code") and the regulations promulgated thereunder, such that the Bank and Executive reasonably anticipate that the level of bona fide services Executive would perform after termination of employment would permanently decrease to a level that is less than 20% 50% of the average level of bona fide services performed (whether as an employee or an independent contractor) over the immediately preceding thirty-six (36)-month... period. View More Arrow
Found in Kearny Financial Corp. contract
Separation From Service. In in accordance with Code Section 409A of the Internal Revenue Code ("Code") and the regulations promulgated thereunder, such that the Bank and Executive reasonably anticipate that the level of bona fide services Executive would perform after termination of employment would permanently decrease to a level that is less than 20% 50% of the average level of bona fide services performed (whether as an employee or an independent contractor) over the immediately preceding thirty-six (36)-month... period. View More Arrow
Found in Pathfinder Bancorp, Inc. contract
Separation From Service. In in accordance with Code Section 409A of the Internal Revenue Code ("Code") and the regulations promulgated thereunder, such that the Bank and Executive reasonably anticipate that the level of bona fide services Executive would perform after termination of employment would permanently decrease to a level that is less than 20% of the average level of bona fide services performed (whether as an employee or an independent contractor) over the immediately preceding thirty-six (36)-month period.
Found in OBA Financial Services, Inc. contract
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