Separation From Service

Separation From Service. The date which is the later of the Employee's separation from service as defined in Code Section 409A(a)(2)(A)(i), or in accordance with the following definition: The Employee's termination of employment with the Company, excluding death or Disability. The Employee shall not be deemed to have a Separation from Service while the Employee is on military leave, sick leave or other bona fide leave of absence if the period of the leave does not exceed six (6) months or, if longer, the Executive... Officer's right to reemployment with the Company is provided either by statute or contract. If the period of leave exceeds six (6) months and the Executive Officer's right to reemployment is not provided either by statute or contract, the Executive Officer shall be deemed to have a Separation from Service on the first day immediately following such six (6) month period. A termination of employment shall occur if, based on the facts and circumstances, the Executive Officer and the Company reasonably anticipate that no further services would be performed by the Executive Officer (whether as an employee or an independent contractor) after the termination date or that the level of the Executive Officer's services would permanently decrease to no more than 20% of the average level of bona fide services performed by the Executive Officer (whether as an employee or an independent contractor) over the immediately preceding 36-month period (or the period of time that the Executive Officer performed services for the Company, if less than 36 months). View More

Separation From Service. Shall have the meaning set forth and described in the final regulations promulgated under Code section 409A.

Separation From Service. The Participant's ceasing to be employed by the Company for any reason whatsoever, whether voluntarily or involuntarily, including by reason of early retirement, normal retirement, death or Disability, provided that transfer from the Company to a subsidiary or vice versa shall not be deemed a Separation from Service for purposes of this Plan. A Separation from Service shall also occur if (a) the Participant is on a leave of absence that exceeds 6 months and the Participant does not have a... statutory or contractual right of reemployment, in which case, Separation from Service shall be deemed to have occurred on the first day following the 6‐month period, (b) the Participant is on a leave of absence that exceeds 6 months and the Participant's statutory or contractual right of reemployment ends, in which case Separation from Service shall be deemed to have occurred on the first day following the end of the right of reemployment, or (c) the Company and the Participant reasonably anticipate that the level of services the Participant will perform for the Company (whether as an employee or an independent contractor) will permanently decrease to 20% or less of the average level of services performed for the Company over the preceding 36 months. Determination of whether a Separation from Service has occurred will be made subject to the facts and circumstances of each situation and will comply with Internal Revenue Code Section 409A. View More

Separation From Service. Shall mean Employee's 'separation from service' within the meaning of Treasury Regulation Section 1.409A-1(h) without regard to any permissible alternative definition thereunder.

Separation From Service. Means a separation from service within the meaning of Treasury Regulation § 1.409A-1(h).

Separation From Service. A Participant's Termination Date, or if the Participant continues to provide services following his or her Termination Date, such later date as is considered a separation from service from the Company and its Section 409A Affiliates within the meaning of Section 409A. Specifically, if the Participant continues to provide services to the Company or a Section 409A Affiliate in a capacity other than as an employee, such shift in status is not automatically a Separation from Service

Separation From Service. The date on which an Eligible Director ceases to provide services as a director of the Company and, if applicable, has completely terminated any other services that he or she provides for the Company or any of its affiliates (as determined within the meaning of Code Section 414(b) or (c), except that the phrase "at least 50%" shall be used in place of "at least 80%" each place it appears therein, or the regulations thereunder.

Separation From Service. A Director's "separation from service" with the Company within the meaning of Code Section 409A.

Separation From Service. The meaning set forth in, and whether Employee has experienced a Separation from Service shall be determined by Bank in accordance with, Treasury Regulations § 1.409A-1(h).

Separation From Service. A termination of the employment relationship of the Executive with the Company or an affiliate within the meaning of Section 409A of the Code and Treasury Regulation section 1.409A-1(h) or any successor thereto