2.6 CEO. The Chief Executive Officer of the Company who is a Participant in the Plan.
2.7 Code. The Internal Revenue Code of 1986, as amended from time to time (including any valid and binding governmental regulations, court decisions and other regulatory and judicial authority issued or rendered thereunder).
2.8 Company. The Plan Sponsor, its successor and assigns, and any of its Affiliates that, with the consent of the Plan Sponsor, adopt the Plan for the benefit of their employees. The Plan Sponsor may act on behalf of any such adopting Affiliate for purposes of the Plan.
2.9 Disabled or Disability. An incapacity that has resulted in qualification of a Participant to receive long-term disability benefits under the Companys Long Term Disability Insurance Plan. If the Participant is not covered by the Companys Long Term Disability Insurance Plan, the Participant is considered to have a Disability if the Participants incapacity results in a determination by the Social Security Administration that the Participant is entitled to a Social Security disability benefit. The Plan Administrator may establish uniform and nondiscriminatory time limits for such determination by the Social Security Administration and for notice of such determination to be provided to the Plan Administrator in order for such incapacity to be a Disability under the Plan.
2.10 Effective Date. The Plan is effective as of July 1, 2020.
2.11 Employment. A Participants employment with the Company, beginning on the Participants original date of hire (including the date of hire with the Manager, if applicable) and ending on the last official workday for which the Participant receives pay for service with the Company.
2.12 ERISA. The Employee Retirement Income Security Act of 1974, as amended from time to time (including any valid and binding governmental regulations, court decisions and other regulatory and judicial authority issued or rendered thereunder).
2.13 Involuntary Termination of Employment. A Participants termination of Employment by the Company without Cause, other than by reason of death or Disability.
2.14 Manager. Annaly Management Company LLC and members of any controlled group within the meaning of Code Sections 414(b) and (c) that includes the Manager.
2.15 Other Executive. Any employee other than the CEO who the Board has determined is an executive officer of the Company and who is a Participant in the Plan.
2.16 Participant. Any individual selected by the Plan Administrator to participate in the Plan pursuant to Article 3.
2.17 Plan. The Annaly Capital Management, Inc. Executive Severance Plan, as stated herein and as may be amended from time to time.