Separation From Service

Separation From Service. A Participant's death, retirement or other termination of association with the Company, provided that such separation constitutes a separation from service for purposes of Section 409A of the Code

Separation From Service. Means the severance of Participant's employment with the UBI or Affiliate for any reason. A Participant separates from service with the UBI or affiliate if he or she dies, retires, separates from service because of the Participant's Disability, or otherwise has a termination of employment with the UBI or Affiliate. However, 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 such... leave does not exceed six months, or if longer, so long as the Participant's right to reemployment with UBI or Affiliate is provided either by statute or by contract. If the period of leave exceeds six months and the Participant's right to reemployment is not provided either by statute or by contract, the employment relationship is deemed to terminate on the first date immediately following such six-month period. Notwithstanding the foregoing, where a leave of absence is due to any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than six months, where such impairment causes the employee to be unable to perform the duties of his or her position of employment or any substantially similar position of employment, a 29-month period of absence shall be substituted for such six-month period. In addition, notwithstanding any of the foregoing, the term "Separation from Service" shall be interpreted under this Plan in a manner consistent with the requirements of Code Section 409A including, but not limited to (i) an examination of the relevant facts and circumstances, as set forth in Code Section 409A and the regulations and guidance thereunder, in the case of any performance of services or availability to perform services after a purported termination or Separation from Service, (ii) in any instance in which such Participant is participating or has at any time participated in any other plan which is, under the aggregation rules of Code Section 409A and the regulations and guidance issued thereunder, aggregated with this Plan and with respect to which amounts deferred hereunder and under such other plan or plans are treated as deferred under a single plan, (hereinafter sometimes referred to as an "Aggregated Plan" or together as the "Aggregated Plans,") then in such instance Participant shall only be considered to meet the requirements of a Separation from Service hereunder if such Participant meets (a) the requirements of a Separation from Service under all such Aggregated Plans and (b) the requirements of a Separation from Service under this Plan which would otherwise apply (iii) in any instance in which a Participant is an employee and an independent contractor of the Company or any Affiliate or both the Participant must have a Separation from Service in all such capacities to meet the requirements of a Separation from Service hereunder, although, notwithstanding the foregoing, if a Participant provides services both as an employee and a member of the Board of Directors of UBI or any Affiliate or both or any combination thereof, the services provided as a director are not taken into account in determining whether the Participant has had a Separation from Service as an employee under this Plan, provided that no plan in which such Participant participates or has participated in his capacity as a director is an Aggregated Plan and (iv) a determination of whether a Separation from Service has occurred shall be made in accordance with Treasury Regulations Section 1.409A-1(h)(4) or any similar or successor law, regulation of guidance of like import, in the event of an asset purchase transaction as described therein. View More

Separation From Service. Shall have the meanings attributed to such terms under section 409A of the Code and the treasury regulations and other guidance promulgated thereunder

Separation From Service. A separation from service, within the meaning of Treas. Regs. §1.409A-1(h), with State Street and any other company that would be treated as a single employer with State Street under the first sentence of Treas. Regs. §1.409A-1(h)(3); and correlative terms shall be construed to have a corresponding meaning.

Separation From Service. The Participant's separation from service as a director and independent contractor with the Company (and all entities with whom the Company would be considered a single employer under Sections 414(b) and 414(c) of the Code), voluntarily or involuntarily, for any reason, provided such Separation from Service constitutes a "separation from service" within the meaning of Section 409A of the Code.

Separation From Service. A Participant's "separation from service," as that term is defined in Section 409A(a)(2)(A)(i) of the Code and regulations of the Treasury thereunder, from the Company. For the avoidance of doubt, a Non-Employee Director who ceases to provide services as a Director of the Company and who immediately thereafter becomes an employee of the Company may incur a Separation from Service for purposes of this Plan, to the extent set forth in Section 409A and the regulations thereunder

Separation From Service. A separation from service with the Corporation and its affiliates (other than due to death or disability) within the meaning of Code Section 409A(a)(2)(A)(i) and Treas. Reg. Section 1.409A-1(h)

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. Termination of a Participant's employment as a common-law employee of the Corporation

Separation From Service. Separation from Service