Define: Separation from Service
What does "Separation from Service" mean? The meaning differs based on the contract. We found 10 definitions across 26 companies in SEC filings.
Definition 1 (AMERICAN EXPRESS CO, seen in 1 filing)
Separation from Service means an employee has a Separation from Service with an employer if the employee dies, retires, or otherwise has a termination of his or her employment with such employer. Whether a Separation from Service has occurred is determined based on whether the facts and circumstances indicate that the employer and employee reasonably anticipated that no further services would be performed after a certain date or that the level of bona fide services the employee would perform after such date would permanently decrease to no more than 20% of the average level of bona fide services performed over the immediately preceding 36-month period.
Source: AMERICAN EXPRESS CO 10-K
Definition 2 (AFLAC INC, seen in 1 filing)
Separation from Service means a termination of employment with all Affiliates, determined in accordance with the rules prescribed under Code Section 409A.
Source: AFLAC INC 10-K
Definition 3 (AUTOMATIC DATA PROCESSING INC, seen in 1 filing)
Separation from Service means shall have the meaning set forth in Section 409A(a)(2)(A)(i) of the Code.
Source: AUTOMATIC DATA PROCESSING INC 10-Q
Definition 4 (BOEING CO, seen in 1 filing)
Separation from Service means an Employee s death, retirement or termination of employment from the Controlled Group within the meaning of Code section 409A. For purposes of determining whether a Separation from Service has occurred, Affiliates and Subsidiaries are defined by using the language at least 80 percent to define the controlled group under Code section 1563(a) in lieu of the 50 percent default rule stated in Treasury Regulation section 1.409A-1(h)(3). A Separation from Service is deemed to include a reasonably anticipated permanent reduction in the level of services performed by an Employee to less than 50 percent of the average level of services performed by the Employee during the immediately preceding 36-month period.
Source: BOEING CO 10-K
Definition 5 (CATERPILLAR INC, seen in 1 filing)
Separation from Service means separation from service as determined in accordance with any regulations, rulings or other guidance issued by the Department of the Treasury pursuant to Section 409A(a)(2)(A)(i) of the Code, as it may be amended or replaced from time to time.
Source: CATERPILLAR INC 10-K
Definition 6 (CINCINNATI FINANCIAL CORP, seen in 1 filing)
Separation from Service means a Participant s separation from service (as defined by Code 409A and the regulations thereunder) with the Company and all related employers under Code 414.
Source: CINCINNATI FINANCIAL CORP 10-K
Definition 7 (FORD MOTOR CO, seen in 1 filing)
Separation from Service means determined to have occurred on the date on which an Eligible Employee incurs a separation from service within the meaning of Code Section 409A.
Source: FORD MOTOR CO 8-K
Definition 8 (FORD MOTOR CO, seen in 1 filing)
Separation from Service means shall be determined to have occurred on the date on which an Eligible Executive incurs a separation from service within the meaning of Code Section 409A.
Source: FORD MOTOR CO 8-K
Definition 9 (Walmart Inc., seen in 1 filing)
Separation from Service means the Participant has a termination of employment with the Employer.
Source: Walmart Inc. 10-K
Definition 10 (FREEPORT-MCMORAN INC, seen in 1 filing)
Separation from Service means a termination of employment in such a manner as to constitute a separation from service as defined under Treasury Regulations Section 1.409A-1(h), for any reason other than death.
Source: FREEPORT-MCMORAN INC 10-K
Data extracted from 48 SEC EDGAR filings across 26 companies. Source: Material contracts (Exhibit 10) filed under Regulation S-K.
This page presents definitions found in actual SEC filings for informational purposes. The specific definition appropriate for your contract may vary based on jurisdiction, industry, and specific circumstances. Consult with a qualified attorney for legal advice.