Separation From Service

Separation From Service. Termination of a Director's service as a non-employee member of the Board consistent with Code Section 409A and the regulations promulgated thereunder.

Separation From Service. Separation from Service

Separation From Service. A 'separation from service' within the meaning of Code section 409A.

Separation From Service. The Participant resigns, dies, retires or otherwise has a termination of employment with the Company; provided, however, that no such termination shall be deemed to have occurred while the Participant is on military or sick leave or other bona fide leave of absence of six months or less, or of more than six months if the Participant's right to re-employment with the Company is provided either by statute or by contract

Separation From Service. Shall mean, with respect to any given Participant, such person's termination of employment where it is reasonably anticipated that no further services would be performed after that date or that the level of bona fide services the Participant would perform after that date (whether as an employee or independent contractor) would permanently decrease to no more than 20 percent of the average level of bona fide services performed over the immediately preceding thirty-six (36)-month period (or if... less, the period of the Participant's employment). All capitalized terms which are not otherwise defined in the Plan shall have the meaning provided under the NASDAQ OMX Savings Plan. View More

Separation From Service. Shall mean the Participant's termination of employment with the Company and its Affiliates whether on account of death, retirement, disability or otherwise. The Company will determine whether a Participant has incurred a Separation from Service based on the facts and circumstances and as described in Treas. Reg. §1.409A-1(h)(1)(ii). A Participant incurs a Separation from Service if the Company and the Participant reasonably anticipate, based on the facts and circumstances, the Participant will... not perform any additional services after a certain date or that the level of bona fide services (whether performed as an employee or as an independent contractor) will permanently decrease to no more than 20% of the average level of bona fide services performed over the immediately preceding 36-month period (or, if less, the period the employee has rendered service to the Company) ("Average Prior Service"). A Participant is presumed to have incurred a Separation from Service if the Participant's service level decreases to 20% or less than the Average Prior Service and is presumed to not have incurred a Separation from Service if the Participant's service level continues at a rate which is 50% or more of the Average Prior Service. No presumption applies where the Participant's service level is more than 20% and less than 50% of the Average Prior Service. A Participant does not incur a Separation from Service if the Participant is on military leave, sick leave, or other bona fide leave of absence if such leave does not exceed a period of 6 months, or if longer, the period for which a statute or contract provides the Participant with the right to reemployment with the Company. If a Participant's leave exceeds 6 months but the Participant is not entitled to reemployment under a statute or contract, the Participant incurs a Separation from Service on the next day following the expiration of 6 months, (12 months where a leave of absence is due to a condition that may constitute a disability unless the Company or the Participant terminate the leave sooner). In accordance with and subject to Treas. Reg. §1.409A-1(h)(4), if the Company sells its assets to an unrelated party purchaser where the Participants otherwise would incur a Separation from Service and where such Participants will provide services to the purchaser after the sale closing, the Company and the purchaser retain discretion no later than the asset sale closing date to specify in writing whether the Participants will incur a Separation from Service; provided however that all affected Participants shall be treated uniformly. View More

Separation From Service. A separation from service with the Firm for purposes of Section 409A determined using the default provisions set forth in Treasury Regulation §1.409A-1(h) or any successor regulation thereto. For purposes of this definition, Morgan Stanley's subsidiaries and affiliates include (and are limited to) any corporation that is in the same controlled group of corporations (within the meaning of Section 414(b) of the Internal Revenue Code) as Morgan Stanley and any trade or business that is under... common control with Morgan Stanley (within the meaning of Section 414(c) of the Internal Revenue Code), determined in each case in accordance with the default provisions set forth in Treasury Regulation §1.409A-1(h)(3) View More

Separation From Service. Means a "separation from service" with the Company and its Affiliates within the meaning of Code section 409A.

Separation From Service. With respect to a Director, the Director's separation from service (within the meaning of Section 409A of the Internal Revenue Code and the regulations and other guidance issued thereunder) with the group of service recipients that includes the Company and each Affiliated Company (as hereinafter defined). A Director's Separation from Service does not occur so long as the Director continues to provide services to the Company or any Affiliated Company as a director, an employee or an independent... contractor. For purposes of this definition, "Affiliated Company" shall mean any incorporated or unincorporated trade or business or other entity or person, other than the Company, that along with the Company is considered a single employer under Section 414(b) or Section 414(c) of the Internal Revenue Code View More

Separation From Service. A termination of employment or other event as defined under Section 409A. Generally, a Separation of Service is deemed to have occurred when a Participant's services have been reduced to a rate that is expected to be 20% or less of the average rate of services performed by the Participant in the 36 months preceding the reduction.