Participant Definition Example

Participant. Each Employee who is selected by the Administrator to participate in the Plan and is provided with (and, if applicable, countersigns) a Participation Notice in accordance with the Plan, other than any Employee who, at the time of his or her termination of employment, is covered by a plan or agreement with the Company or a subsidiary that provides for cash severance or termination benefits that explicitly supersedes and/or replaces the payments and benefits provided under this Plan. For the... avoidance of doubt, retention bonus payments, change in control bonus payments and other similar cash payments shall not constitute "cash severance" for purposes of this definition. View More