Separation From Service definition: Copy, customize, and use instantly
Introduction
The term "Separation From Service" refers to the termination of an individual's employment or relationship with a company. It can trigger various contractual or legal effects, such as the eligibility for severance pay, the vesting of benefits, or the distribution of deferred compensation. It is essential for determining rights and obligations upon the end of the service period.
Below are various examples of how "Separation From Service" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Separation From Service" as termination of employment
This definition ties "Separation From Service" to the termination of employment with an organization.
"Separation From Service" refers to the voluntary or involuntary termination of an individual's employment with the company, whether due to resignation, retirement, dismissal, or any other reason that ends the individual's service.
Definition of "Separation From Service" as defined in retirement plans
This definition connects "Separation From Service" to retirement plans and pension eligibility.
"Separation From Service" means the event in which an employee's employment with the company ends, triggering eligibility for retirement benefits, pension distributions, or the start of the retirement process under the company's retirement plan.
Definition of "Separation From Service" as related to severance pay
This definition links "Separation From Service" to entitlement to severance pay.
"Separation From Service" refers to the termination of employment that makes an employee eligible for severance pay or benefits under the company's severance policy, provided the termination meets the terms outlined in the agreement.
Definition of "Separation From Service" for deferred compensation plans
This definition applies "Separation From Service" to deferred compensation arrangements.
"Separation From Service" means the end of an employee's service, which may trigger the distribution of deferred compensation or other benefits as governed by the terms of a non-qualified deferred compensation plan.
Definition of "Separation From Service" in relation to tax implications
This definition connects "Separation From Service" to the tax treatment of employment termination.
"Separation From Service" refers to the event that occurs when an employee terminates their employment, with specific tax implications depending on the type of compensation and benefits involved.
Definition of "Separation From Service" for retirement savings
This definition links "Separation From Service" to retirement savings accounts.
"Separation From Service" means the event where an employee's employment ends, potentially triggering the distribution or rollover of funds in retirement savings accounts like 401(k)s or IRAs.
Definition of "Separation From Service" as it applies to stock options
This definition ties "Separation From Service" to the treatment of stock options and equity grants.
"Separation From Service" refers to the termination of employment that may impact the vesting or exercise of stock options, including the timeline and eligibility for exercising options upon separation.
Definition of "Separation From Service" in the context of employee benefits
This definition connects "Separation From Service" to the continuation or termination of employee benefits.
"Separation From Service" means the event where an employee’s employment ends, triggering changes to benefits such as healthcare, life insurance, or other employee perks under the company's benefit policies.
Definition of "Separation From Service" for bonus eligibility
This definition ties "Separation From Service" to bonus and incentive payments.
"Separation From Service" refers to the termination of employment, which may impact the eligibility for payment of bonuses or other incentive-based compensation according to the company's policies.
Definition of "Separation From Service" as a change in control event
This definition applies "Separation From Service" to a change in control situation.
"Separation From Service" means the termination of employment that occurs as a result of a change in control, such as a merger or acquisition, and may trigger accelerated vesting of equity or severance pay.
Definition of "Separation From Service" for non-compete agreements
This definition connects "Separation From Service" to non-compete and confidentiality obligations.
"Separation From Service" refers to the termination of employment that triggers the applicability of non-compete and confidentiality provisions, as specified in the employee's agreement.
Definition of "Separation From Service" for early retirement
This definition links "Separation From Service" to early retirement scenarios.
"Separation From Service" means the voluntary or involuntary termination of employment that qualifies as early retirement, often impacting eligibility for early retirement benefits and pension distributions.
Definition of "Separation From Service" as it relates to notice requirements
This definition connects "Separation From Service" to required notice periods.
"Separation From Service" refers to the termination of employment, either voluntary or involuntary, and includes the requirement for providing notice to the company as specified in the employment contract or company policy.
Definition of "Separation From Service" for tax-qualified retirement plans
This definition ties "Separation From Service" to tax-qualified retirement plans.
"Separation From Service" refers to the termination of an employee's employment, which may trigger the distribution or rollover of assets from a tax-qualified retirement plan such as a 401(k) or pension plan.
Definition of "Separation From Service" for stock-based compensation
This definition applies "Separation From Service" to stock-based compensation arrangements.
"Separation From Service" means the event in which an employee's relationship with the company ends, which may impact the vesting or exercise of stock-based compensation, such as restricted stock units (RSUs) or stock options.
Definition of "Separation From Service" for post-employment benefits
This definition connects "Separation From Service" to post-employment benefits.
"Separation From Service" refers to the termination of employment that may result in continued eligibility for post-employment benefits, including health insurance and pension benefits under COBRA or other plans.
Definition of "Separation From Service" as it applies to legal contracts
This definition links "Separation From Service" to contractual obligations.
"Separation From Service" refers to the termination of employment that may trigger specific legal obligations, such as the payment of severance or the fulfillment of non-compete agreements as outlined in the employee’s contract.
Definition of "Separation From Service" in relation to non-qualified plans
This definition ties "Separation From Service" to non-qualified retirement plans.
"Separation From Service" means the event where an employee's employment ends, which may trigger the provisions of non-qualified retirement plans, including the distribution or continuation of deferred compensation.
Definition of "Separation From Service" for incentive-based compensation
This definition connects "Separation From Service" to the treatment of incentive compensation.
"Separation From Service" refers to the event in which an employee’s employment ends, impacting the vesting, eligibility, and payment of incentive-based compensation such as performance bonuses or profit-sharing.
Definition of "Separation From Service" in the context of workers' compensation
This definition ties "Separation From Service" to workers' compensation eligibility.
"Separation From Service" means the termination of employment that may affect eligibility for workers' compensation benefits, particularly if the employee is injured during the course of employment prior to separation.
Definition of "Separation From Service" in relation to a company’s stock plan
This definition applies "Separation From Service" to a company’s stock plan.
"Separation From Service" refers to the termination of employment that affects an employee's ability to participate in a company's stock plan, including the treatment of any outstanding stock options or grants.
Definition of "Separation From Service" as it relates to retirement distribution timing
This definition connects "Separation From Service" to the timing of retirement distributions.
"Separation From Service" means the termination of employment that sets the timing for distributions from a retirement plan, such as a 401(k) or pension plan, which can be impacted by the individual’s age and retirement status.
Definition of "Separation From Service" for medical benefits
This definition ties "Separation From Service" to medical benefits continuation.
"Separation From Service" refers to the termination of employment, which may impact the continuation of medical benefits through COBRA or other health plans, depending on the individual’s eligibility.
Definition of "Separation From Service" for the eligibility of unemployment benefits
This definition connects "Separation From Service" to eligibility for unemployment compensation.
"Separation From Service" refers to the termination of employment that may impact an individual’s eligibility for unemployment benefits, depending on the circumstances surrounding the separation.
Definition of "Separation From Service" for the vesting of retirement contributions
This definition links "Separation From Service" to the vesting of retirement plan contributions.
"Separation From Service" means the event where an employee’s employment ends, which may impact the vesting of employer contributions to a retirement plan, such as a pension or 401(k) plan.
Definition of "Separation From Service" for continuation of employer-sponsored life insurance
This definition connects "Separation From Service" to life insurance coverage.
"Separation From Service" refers to the event where an employee’s employment ends, which may affect their eligibility for continued coverage under the company’s life insurance or accidental death and dismemberment insurance policies.
Definition of "Separation From Service" for non-solicitation clauses
This definition ties "Separation From Service" to non-solicitation clauses in employment agreements.
"Separation From Service" refers to the termination of employment, triggering the enforcement of non-solicitation clauses, which prevent the employee from contacting or recruiting current employees or clients for a specified period post-employment.
Definition of "Separation From Service" in relation to post-employment restrictions
This definition applies "Separation From Service" to post-employment non-compete or non-disclosure obligations.
"Separation From Service" means the event where an employee’s service with the company ends, triggering post-employment restrictions such as non-compete, non-disclosure, and confidentiality agreements.
Definition of "Separation From Service" as it relates to employer discretion
This definition links "Separation From Service" to employer discretion regarding benefits.
"Separation From Service" refers to the termination of an employee’s employment, and may include provisions for employer discretion in deciding whether benefits, such as severance or bonuses, will be provided following the separation.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.