Specified Employee definition: Copy, customize, and use instantly
Introduction
The term “Specified Employee” is an individual designated by an organization or a governing body, often for regulatory or compliance purposes, who meets certain criteria based on compensation, responsibilities, or ownership interest in the organization. Specified employees are typically subject to special tax regulations, particularly related to the Internal Revenue Code and Section 409A, which governs deferred compensation. This term is commonly used in contexts involving retirement plans, executive compensation, and tax law.
Below are various examples of how "Specified Employee" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Specified Employee" in tax law
This definition connects "Specified Employee" to tax law.
"Specified Employee" refers to an individual who meets the criteria under Section 409A of the Internal Revenue Code, which includes individuals with significant compensation or control over an organization, triggering special tax rules related to deferred compensation.
Definition of "Specified Employee" in retirement plans
This definition ties "Specified Employee" to retirement plans.
"Specified Employee" means a person classified under IRS regulations for retirement plans, generally due to their role in the organization and compensation level, and who may be subject to additional rules regarding the distribution of retirement benefits.
Definition of "Specified Employee" in deferred compensation
This definition applies "Specified Employee" to deferred compensation.
"Specified Employee" refers to an executive or employee with a substantial level of compensation or ownership, subject to specific rules under Section 409A of the Internal Revenue Code regarding the timing and conditions for receiving deferred compensation.
Definition of "Specified Employee" in executive compensation
This definition links "Specified Employee" to executive compensation.
"Specified Employee" means an individual, typically a top executive, whose compensation package includes substantial deferred compensation that is governed by special rules to avoid early taxation and ensure compliance with regulatory standards.
Definition of "Specified Employee" in corporate governance
This definition connects "Specified Employee" to corporate governance.
"Specified Employee" refers to senior executives or key individuals in an organization who hold significant authority, compensation, or ownership, often subject to stricter governance and disclosure requirements.
Definition of "Specified Employee" in employee benefits
This definition ties "Specified Employee" to employee benefits.
"Specified Employee" means an individual in an organization whose benefits, such as stock options, retirement plans, or other compensation mechanisms, are subject to special rules due to their position or level of income.
Definition of "Specified Employee" in tax reporting
This definition links "Specified Employee" to tax reporting.
"Specified Employee" refers to an employee whose financial compensation, ownership stake, or responsibilities exceed certain thresholds set by tax authorities, triggering different reporting requirements and potential tax implications.
Definition of "Specified Employee" in public company regulations
This definition connects "Specified Employee" to public company regulations.
"Specified Employee" means an executive or key employee at a publicly traded company whose compensation is subject to enhanced regulatory scrutiny, including reporting and compliance with IRS guidelines for deferred compensation.
Definition of "Specified Employee" in succession planning
This definition applies "Specified Employee" to succession planning.
"Specified Employee" refers to key personnel in an organization, identified for succession planning due to their significant roles, compensation packages, or ownership interests, often subject to special rules in planning for their retirement or transition.
Definition of "Specified Employee" in stock options
This definition ties "Specified Employee" to stock options.
"Specified Employee" refers to an individual who holds significant stock options or equity interests in an organization, often subject to specific tax treatment regarding the timing and taxation of stock option exercises.
Definition of "Specified Employee" in compensation agreements
This definition links "Specified Employee" to compensation agreements.
"Specified Employee" means an individual whose compensation agreement includes deferred or performance-based components that are subject to special tax rules and guidelines under Section 409A.
Definition of "Specified Employee" in payroll taxes
This definition connects "Specified Employee" to payroll taxes.
"Specified Employee" refers to an employee whose compensation level or stock ownership triggers specific payroll tax obligations, such as additional reporting or higher rates under applicable tax law.
Definition of "Specified Employee" in IRS guidelines
This definition ties "Specified Employee" to IRS guidelines.
"Specified Employee" means an individual who falls under the IRS guidelines for deferred compensation plans, typically due to the nature of their compensation, responsibilities, or ownership in a business.
Definition of "Specified Employee" in taxation of deferred compensation
This definition applies "Specified Employee" to the taxation of deferred compensation.
"Specified Employee" refers to a highly compensated employee whose deferred compensation is subject to additional tax rules, including rules governing the timing of when income is recognized and taxed under Section 409A.
Definition of "Specified Employee" in pension plans
This definition connects "Specified Employee" to pension plans.
"Specified Employee" refers to an employee who is eligible for specific pension or retirement benefits based on their role in the company and who may be subject to unique reporting and tax rules.
Definition of "Specified Employee" in tax compliance
This definition ties "Specified Employee" to tax compliance.
"Specified Employee" refers to an individual whose compensation structure or ownership stake requires specific compliance with tax laws, especially regarding the timing and treatment of deferred compensation under IRS rules.
Definition of "Specified Employee" in financial planning
This definition links "Specified Employee" to financial planning.
"Specified Employee" means a key executive or owner whose financial planning is impacted by their eligibility for specialized tax rules or compensation packages, including deferred compensation or stock ownership plans.
Definition of "Specified Employee" in company benefit plans
This definition connects "Specified Employee" to company benefit plans.
"Specified Employee" refers to an individual who participates in a company's benefit plans, including stock options or deferred compensation plans, and is subject to specific IRS regulations.
Definition of "Specified Employee" in tax deferral
This definition ties "Specified Employee" to tax deferral.
"Specified Employee" means a senior employee whose deferred compensation is subject to specific deferral rules and tax regulations designed to minimize immediate tax liabilities.
Definition of "Specified Employee" in employer reporting
This definition applies "Specified Employee" to employer reporting.
"Specified Employee" refers to a key employee whose compensation or ownership interest is significant enough to require special reporting by the employer under IRS guidelines or other regulatory frameworks.
Definition of "Specified Employee" in stock-based compensation
This definition connects "Specified Employee" to stock-based compensation.
"Specified Employee" means an individual who receives substantial stock-based compensation, which is subject to specific rules for taxation and reporting under Section 409A of the Internal Revenue Code.
Definition of "Specified Employee" in corporate tax returns
This definition links "Specified Employee" to corporate tax returns.
"Specified Employee" refers to employees whose compensation, stock holdings, or tax deferral status require specific disclosure and tax treatment on a corporation’s tax return.
Definition of "Specified Employee" in governance policies
This definition ties "Specified Employee" to governance policies.
"Specified Employee" refers to high-ranking employees in an organization, whose compensation packages and roles in governance necessitate special rules or disclosures as part of corporate governance policies.
Definition of "Specified Employee" in company audits
This definition applies "Specified Employee" to company audits.
"Specified Employee" means an individual whose compensation or ownership is scrutinized during company audits due to regulatory requirements or internal policies relating to deferred compensation or executive benefits.
Definition of "Specified Employee" in company ownership
This definition connects "Specified Employee" to company ownership.
"Specified Employee" refers to an employee who owns a significant stake in the company, which may trigger special rules for deferred compensation, taxation, and reporting under applicable laws.
Definition of "Specified Employee" in salary caps
This definition links "Specified Employee" to salary caps.
"Specified Employee" means an employee who exceeds certain salary or compensation thresholds, subject to salary caps and restrictions on benefits as defined under regulatory frameworks.
Definition of "Specified Employee" in business restructuring
This definition connects "Specified Employee" to business restructuring.
"Specified Employee" refers to key individuals whose employment agreements, compensation structures, or ownership interests are subject to particular treatment during a business restructuring process.
Definition of "Specified Employee" in financial reporting
This definition ties "Specified Employee" to financial reporting.
"Specified Employee" refers to an employee whose compensation is disclosed in financial reporting, due to the significance of their role or salary in relation to the company’s financial statements.
Definition of "Specified Employee" in nonqualified deferred compensation plans
This definition links "Specified Employee" to nonqualified deferred compensation plans.
"Specified Employee" refers to an individual subject to special provisions under nonqualified deferred compensation plans due to their compensation level, ownership, or seniority within the organization.
Definition of "Specified Employee" in deferred income tax liability
This definition applies "Specified Employee" to deferred income tax liability.
"Specified Employee" refers to an individual whose deferred income tax liability is subject to special rules because of their compensation or ownership interests in the organization.
Definition of "Specified Employee" in pension benefits
This definition ties "Specified Employee" to pension benefits.
"Specified Employee" refers to an employee whose pension benefits or retirement plans are structured to comply with specific tax deferral rules or regulations for high-level employees.
Definition of "Specified Employee" in IRS reporting requirements
This definition connects "Specified Employee" to IRS reporting requirements.
"Specified Employee" refers to an individual whose compensation, deferred benefits, or equity holdings trigger additional IRS reporting requirements for compliance purposes.
Definition of "Specified Employee" in corporate tax law
This definition applies "Specified Employee" to corporate tax law.
"Specified Employee" refers to an individual whose compensation or ownership in a company subjects them to specific corporate tax laws regarding tax deferral, deductions, or credits.
Definition of "Specified Employee" in the context of business regulation
This definition links "Specified Employee" to business regulation.
"Specified Employee" means an individual in a business whose level of compensation or ownership requires the application of specialized business regulations concerning deferred compensation or executive benefits.
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.