Company Stock Fund Sample Clauses

Company Stock Fund. A Company Stock Fund invested solely in Company Stock as more fully described in the Trust Agreement, except that to the extent necessary to effect distributions (or to meet other administrative requirements of the Plan), amounts held in the Company Stock Fund may be held in cash or such other short term investments as the Investment Committee deems suitable. Notwithstanding any other provision of the Plan to contrary, the Company Stock Matching Contributions Account is the only Plan Account that may be invested in the Company Stock Fund.
Sample 1
AutoNDA by SimpleDocs
Company Stock Fund. The Company Stock Fund, subject to the next following paragraph, shall be invested by the Trustee solely in Company Stock purchased by the Trustee in the open market or by private purchase from Fund American Enterprises Holdings, Inc. or others at the fair market value of such stock at the time of purchase as determined by the Trustee pursuant to Article IX(H). Company Stock may also be acquired within the Plan for the accounts of active Participants from the accounts of Participants who elect, or whose Beneficiaries elect, pursuant to Article V(J) or VI(C-1), to receive cash distributions from the Plan instead of shares of Company Stock allocated to their Company Stock Accounts or 401(k) accounts. All such acquisitions shall be at the fair market value of such shares at the close of the day of the transaction as determined by the Trustee pursuant to Article IX(H). In acquiring shares of Company Stock for the accounts of active Participants the Trustee may net purchases, including internal acquisitions of the kind described above, against sales of Company Stock. There shall be no percentage limitation on the portion of the 401(k) portion of the Trust which the Trustee may invest or hold in Company Stock. However, no Participant may direct that any portion of his Elective Contributions Account or Rollover Account be invested in the Company Stock Fund before the effective date of the registration of the Company Stock to be held in the Company Stock Fund with the U.S. Securities and Exchange Commission. Dividends, interest and other distributions received by the Trustee in respect of each Investment Fund, including the Company Stock Fund, shall be reinvested in the same Investment Fund. However, pending reinvestment, any such dividends, interest and other distributions in respect of the Company Stock Fund shall be invested by the Trustee in short-term fixed income investments, which may include units of participation in a short term fixed income fund maintained by the Trustee or a short term fixed income mutual fund.
Sample 1
Company Stock Fund. The Trustee shall establish a Company Stock Fund which shall be invested primarily in shares of common stock of UNUM Corporation and any other qualifying employer security within the meaning of Section 407(d)(5) of ERISA. The Trustee shall, as soon as practicable, apply amounts allocated to the Company Stock Fund to purchase Company stock on the open market or in private transactions, from the Company or otherwise, at current market value. Pending investment in Company stock, the Trustee shall invest amounts allocated to and dividends or other amounts received by the Company Stock Fund in short- term cash equivalents including, but not limited to, short- term debt obligations issued or guaranteed by the United States government, money market funds and savings accounts. Notwithstanding the provisions of this Section 5.2 to the contrary, the Trustee shall be under no duty or obligation to invest any assets of the Trust in shares of common stock of the Company unless the Company shall determine that (a) such shares constitute "qualifying employer securities" within the meaning of Section 407 of ERISA and (b) such investment is not prohibited by Section 404, 406 or 407 of ERISA.
Sample 1
Company Stock Fund the Company Stock Fund established pursuant to Section 6.2 to hold the ESOP Portion of the Plan.
Sample 1
Company Stock Fund. In addition to the Investment Subfunds created pursuant to Section 6.1, the Trustee also shall maintain an Investment Subfund referred to as the Company Stock Fund, which shall serve as a vehicle for the investment of Participants’ Accounts and shall be managed by the Trustee. The Company Stock Fund shall constitute the ESOP Portion of the Plan.
Sample 1
Company Stock Fund. As soon as practical xxxer the Administrator has complied with the registration requirements of the Securities Act of 1933 the preceding sentence shall no longer apply. APPENDIX B - PAYMENT OF PLAN FEES AND EXPENSES As of the Effective Date, payment of Plan fees and expenses shall be as follows:
Sample 1

Related to Company Stock Fund

  • Company Stock The Certificates and stock powers, duly endorsed, transferring the Company Stock to Subsidiary and the officer and director resignations required in Section 4.6;

  • Company Stock Plans (a) The Company shall take such action as shall be required:

  • Company Stock Options At the Effective Time, each Company Stock --------------------- Option shall be deemed to have been assumed by Evergreen, without further action by Evergreen, and shall thereafter be deemed an option to acquire, on the same terms and conditions as were applicable under such Company Stock Option, that number of shares of Surviving Corporation Common Stock that would have been received in respect of such Company Stock Option if it had been exercised immediately prior to the Effective Time (such Company Stock Options assumed by Evergreen, the "Assumed Chancellor Stock Options"); provided, however, that, for -------- ------- each optionholder, (i) the aggregate fair market value of Surviving Corporation Common Stock subject to Assumed Chancellor Stock Options immediately after the Effective Time shall not exceed the aggregate exercise price thereof by more than the excess of the aggregate fair market value of Company Common Stock subject to Company Stock Options immediately before the Effective Time over the aggregate exercise price thereof and (ii) on a share-by-share comparison, the ratio of the exercise price of the Assumed Chancellor Stock Option to the fair market value of the Surviving Corporation Common Stock immediately after the Effective Time is no more favorable to the optionholder than the ratio of the exercise price of the Company Stock Option to the fair market value of the Company Common Stock immediately before the Effective Time; and provided, -------- further, that no fractional shares shall be issued on the exercise of such ------- Assumed Chancellor Stock Option and, in lieu thereof, the holder of such Assumed Chancellor Stock Option shall only be entitled to a cash payment in the amount of such fraction multiplied by the closing price per share of Surviving Corporation Common Stock on the Nasdaq National Market on the business day immediately prior to the date of such exercise.

  • Company Stock Option Plans Simultaneously with the execution of this Agreement, the Board of Directors of the Company (or, if appropriate, any committee administering the Company Stock Option Plans) shall adopt such resolutions or take such other actions as are required to effect the transactions contemplated by Section 2.10 in respect of all outstanding Options and thereafter the Board of Directors of the Company (or any such committee) shall adopt any such additional resolutions and take such additional actions as are required in furtherance of the foregoing.

  • Shareholder Account The Transfer Agent shall cause each Sub-transfer Agent to apply the foregoing rule to each Sub-shareholder Account based on the records maintained by such Sub-transfer Agent; provided, that until the Sub-transfer Agent in respect of the ML Omnibus Account develops the data processing capability to conform to the foregoing requirements, such Sub-transfer Agent shall apply the foregoing rules to each Sub-shareholder Account with respect to the Date of Original Purchase of any Commission Share as though each such date were a separate Month of Original Purchase.

  • Creation of Escrow Account/Common Stock Account a. On or prior to the date of this Agreement the Escrow Agent shall establish an escrow account for the deposit of the Escrow Funds entitled as follows: eTotalSource, Inc./Cornell Capital Partners, LP. The Investor will wire funds to the account of the Escrow Agent as follows: Bank: Wachovia, N.A. of New Jersey Routing #: 031201467 Account #: 2020000659170 Name on Account: David Gonzalez Attorney Trust Accoxxx Xxxx xx Xxb-Account: eTotalSource, Inc./Cornell Capital Partners, LP Escrow account

  • Escrowed Shares a. With respect to the Escrowed Shares, upon an event of default as set forth in the Pledge Agreement, the Escrow Agent shall send written notice to the Transfer Agent ("Escrow Notice") to transfer such number of Escrow Shares as set forth in the Escrow Notice to the Buyers. Upon receipt of an Escrow Notice, the Transfer Agent shall promptly transfer such number of Escrow Shares to the Buyers as shall be set forth in the Escrow Notice delivered to the Transfer Agent by the Escrow Agent. Further, the Transfer Agent shall promptly transfer such shares from the Buyers to any subsequent transferee promptly upon receipt of written notice from the Buyers or their counsel. If the Escrow Shares are not registered for sale under the Securities Act of 1933, as amended, then the certificates for the Escrow Shares shall bear the legend set forth in Section 1b.

  • Merger Sub Common Stock At the Effective Time, each share of common stock, par value $0.01 per share, of Merger Sub (“Merger Sub Common Stock”) issued and outstanding immediately prior to the Effective Time shall be automatically converted into one fully paid and nonassessable share of common stock, par value $0.01 per share, of the Surviving Corporation.

  • Company Equity Awards With respect to any stock options, restricted stock or other equity awards (the “Equity Awards”) granted pursuant to any compensation plan of the Company or its Subsidiaries providing for the issuance of Equity Awards (the “Company Plans”), (A) each grant of an Equity Award was duly authorized no later than the date on which the grant of such Equity Award was by its terms to be effective by all necessary corporate action, and (B) each such grant was made in accordance with the terms of the Company Plans and all other applicable laws and regulatory rules or requirements.

  • Company Shares If the managing underwriter has not limited the number of Registrable Securities to be underwritten, the Company may include securities for its own account or for the account of others in such registration if the managing underwriter so agrees and if the number of Registrable Securities which would otherwise have been included in such registration and underwriting will not thereby be limited.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!