Separation From Service

Separation From Service. A Participant's termination of employment with the Company and all of its Subsidiaries for reasons other than death. Whether a Separation from Service has occurred is determined in accordance with the requirements of Code Section 409A based on whether the facts and circumstances indicate that the Company and Participant reasonably anticipated that no further services would be performed after a certain date or that the level of bona fide services Participant would perform after such date... (whether as an employee or as an independent contractor) would permanently decrease to no more than 20% of the average level of bona fide services performed (whether as an employee or an independent contractor) over the immediately preceding 36 month period (or the full period of services to the Company and its Subsidiaries if the Participant has been providing services to the Company and its Subsidiaries less than 36 months). 1 View More

Separation From Service. Means a separation from service with the Company and all of its subsidiaries within the meaning of Treasury Regulation § 1.409A-1(h).

Separation From Service. Is intended to have the same meaning as under Code section 409A and any regulations or guidance issued under such provision.

Separation From Service. A Participant's separation from service with the Company and its affiliates within the meaning of Prop. Treas. Reg. §1.409A-1(h) or any successor thereto.

Separation From Service. Means a "separation from service" under Code § 409A(a)(2)(A)(i) and the regulations promulgated thereunder.

Separation From Service. Means the termination of the Employee's employment with the Service Recipient, determined as follows: (a) The Employee's employment will be considered terminated effective as of the date that both the Employee and the Participating Employer reasonably anticipate, based on all of the facts and circumstances, that either (A) no services will be performed by the Employee for the Service Recipient after such date, whether as an employee or as an independent... contractor, or (B) the level of bona fide services that the Employee will perform for the Service Recipient after such date, whether as an employee or as an independent contractor, will be permanently reduced to no more than twenty percent (20%) of the average level of bona fide services the Employee performed over the immediately preceding thirty-six (36) month period (or, if less, the Employee's full period of service to the Service Recipient). (b) If the Employee is on a "bona fide leave of absence" (as defined below) from the Service Recipient, the Employee's employment will be considered terminated, notwithstanding that the Employee is reasonably expected to return to perform services for the Service Recipient (at a level such that the Employee's employment is not terminated pursuant to subsection (a) above), on the later of: (A) the first date immediately following the end of the Six-Month Period (as defined below), or (B) the date the Employee's right to reemployment under applicable law or contract, if any, expires. A "bona fide leave of absence" is a leave of absence, including military leave or sick leave, in which there is a reasonable expectation that the Employee will return to perform service for the Service Recipient. The "Six-Month Period" is the period that begins on the date the leave of absence commences and ends on the date that is six months thereafter. (c) The foregoing definition is intended to meet the requirements for a "separation from service" from the Service Recipient within the meaning of Section 409A(a)(2)(A)(i) of the Code and Treasury Regulations Section 1.409A-1(h), and shall be interpreted, construed, administered and applied consistently therewith. Without limiting the generality of the foregoing, for purposes of this 4 definition, the definition of the term "Participating Employer" set forth below shall be modified as provided in Treasury Regulations Section 1.409A-1(h)(3). View More

Separation From Service. Means an employee, director, and contractor to the Company, Bank, and all Parents and Related Entities has a "separation from service" within the meaning of Section 409A, including when the Participant dies, retires or has a termination of service as explained in the following provisions: (i) The employment relationship is treated as continuing intact while the Participant is on military leave, sick leave, or other bona fide leave of absence, if the period of leave does not exceed six... (6) months or, if longer, as long as the employee's right to reemployment with the Company, Bank, a Parent or a Related Entity is provided by statute or contract. A leave of absence is bona fide only if there is a reasonable expectation that the employee will return to perform services for the Company, Bank, Parent, or Related Entity. If the period of leave exceeds six (6) months and the Participant's right to reemployment is not provided by statute or contract, the employment relationship is deemed to terminate on the first day immediately following the six (6) month period; (ii) A director or contractor has a separation from service upon the expiration of the contract, and if there is more than one contract, all contracts, under which the director or contractor performs services as long as the expiration is a good faith and complete termination of the contractual relationship; and (iii) If a Participant performs services in more than one capacity, the Participant must separate from service in all capacities as an employee, director, and contractor. Notwithstanding the foregoing, if a Participant provides services both as an employee and a director, the services provided as a director are not taken into account in determining whether the Participant has a separation from service as an employee under a nonqualified deferred compensation plan in which the Participant participates as an employee and that is not aggregated under Section 409A with any plan in which the Participant participates as a director. In addition, if a Participant provides services both as an employee and a director, the services provided as an employee are not taken into account in determining whether the Participant has a separation from service as a director under a nonqualified deferred compensation plan in which the Participant participates as a director and that is not aggregated under Section 409A with any plan in which the Participant participates as an employee. View More

Separation From Service. Means the Executive's "separation from service" (within the meaning of Section 409A (as defined below)) from the Company occurring as a result of the Executive's termination of employment either: (a) by the Company without Cause (as defined below); or (b) by the Executive with Good Reason (as defined below). Termination of the Executive's employment under any other circumstances shall not constitute a Separation from Service for purposes of the Executive's eligibility to receive payments and... benefits under Sections 2 and 3 of this Agreement. View More

Separation From Service. An involuntary separation from service within the meaning of Section 409A of the Code.

Separation From Service. Any termination of employment with the Corporation for any reason; provided, however, that no Separation from Service is deemed to occur while the Executive is on military leave, sick leave or other bona fide leave of absence that does not exceed six (6) months, or if longer, the period during which the Executive's right to reemployment with the Corporation is provided either by statute or by contract. For purposes of determining whether a Separation from Service from the Corporation has... occurred, "Affiliates" will be identified in accordance with Code section 414(b) or (c), except that in applying Code section 1563(a)(1), (2), and (3) for purposes of Code section 414(b) or in applying Treas. Reg. §1.414(c)-2 for purposes of Code section 414(c), the language "at least 50 percent" shall be used instead of the language "at least 80 percent" each place it appears in such Code and regulations sections. Whether the Executive has incurred a Separation from Service shall be determined in accordance with the 409A Guidance (as defined in paragraph 8) View More