Stock Account. The Stock Account of a Director shall be credited, as of the day the deferred Compensation otherwise would have been payable to such Director, with Stock Credits equal to the number of shares of Common Stock (including fractions of a share) that could have been purchased with the amount of such deferred Compensation at the Closing Price of shares of Common Stock on the day the deferred Compensation otherwise would have been payable to such Director. As of the date of any dividend record date for the Common Stock, the Director's Stock Account shall be credited with additional Stock Credits equal to the number of shares of Common Stock (including fractions of a share) that could have been purchased, at the Closing Price of shares of Common Stock on such date, with the amount which would have been paid as dividends on that number of shares (including fractions of a share) of Common Stock which is equal to the number of Stock Credits then attributed to the Director's Stock Account; provided, however, that in the event that there is not then in effect an election under Section 11.2 hereof to have any of such Director's Compensation credited to a Stock Account and, further, that the Director has elected under Section 11.5(a) hereof to transfer his or her Stock Account to a Cash Account then the amount which would have been credited to the Stock Account in accordance with this sentence but for this proviso shall instead be credited to such Director's Cash Account. In the case of dividends paid in property other than cash, the amount of the dividend shall be deemed to be the fair market value of the property at the time of the payment of the dividend, as determined in good faith by the Committee.
Stock Account. A Participant's Stock Account, as of any date, shall consist of the Compensation the Participant has elected to allocate to that Account under his or her Deferral Election Agreement(s) pursuant to Section 4.2, increased with earnings (including dividend equivalents) thereon and converted to Stock Units pursuant to Section 4.3(b) and reduced by distributions from the Account pursuant to Sections 4.4, 4.5 and 4.6. The Committee shall establish a separate Sub-Account under each of these Accounts for each Deferral Election Agreement entered into by the Participant pursuant to Section 4.2. As specified in Section 4.2, as part of a Participant's Deferral Election Agreement, the Participant shall elect how amounts deferred under each Deferral Election Agreement are to be distributed to him or her from among the available distribution options described in Section 4.4. The separate Sub-Accounts are established to account for the different distribution terms that may apply to each Sub-Account. The Corporation may combine Sub-Accounts that have identical distribution terms or may establish other Sub-Accounts for a Participant under the Plan from time to time in its discretion, as it deems appropriate or advisable. A Participant shall have a full and immediate nonforfeitable interest in his or her Accounts at all times.
Stock Account. A Stock Account shall be established for each Participant for the purpose of recording the Stock Deferrals credited on his or her behalf in accordance with Sections 4.2. and 4.4.
Stock Account. On the tenth day (or next business day if a weekend or holiday) of January, April, July and October of each year, FIRST shall determine the number of full shares of First Chicago Corporation stock which it could have purchased on that date with the amounts then in the Cash Account, based upon the closing price of such shares on the New York Stock Exchange on that date. Such shares shall be credited to the Stock Account and the amount in the Cash Account reduced accordingly. In addition, the Stock Account shall be credited with any stock splits or similar distributions which would have been payable on the number of shares then credited to such account. These amounts are to be established for bookkeeping purposes only, shall not represent either a cash deposit or actual shares, shall not give DIRECTOR any special right in cash or shares held or owned by FIRST, and shall not give rise to any cause of action by DIRECTOR against FIRST, except at such time as DIRECTOR shall become entitled to receive payment of compensation in accordance with the terms of this Agreement. FIRST shall furnish DIRECTOR quarterly statements showing the balances in each of these accounts as they exist at the time such statement is rendered.
Stock Account. The Bank shall maintain on its books a record of account in which the Bank shall make entries for each Advance and such other debits and credits as shall be appropriate in connection with the Stock Purchase Facility (the "Stock Account"). The Bank shall provide the Borrowers with a monthly statement of the Borrower's Stock Account, which statement shall be considered to be correct and conclusively binding on the Borrower unless the Borrower notifies the Bank to the contrary within 18 months after any Borrower's receipt of any such statement which it deems to be incorrect.
Stock Account. The Stock Account of a Participant shall be credited, ------------- as of the date the deferred Compensation otherwise would have been payable to such Participant, with Stock Credits equal to the number of shares of Common Stock (including fractions of a share) that could have been purchased with the amount of such deferred Compensation at the average of the Closing Prices of shares of Common Stock on each Business Day during the month immediately preceding the month in which such Stock Account is so credited. As of the date of any dividend record date for the Common Stock, the Participant's Stock Account shall be credited with additional Stock Credits equal to the number of shares of Common Stock (including fractions of a share) that could have been purchased, at the Closing Price of shares of Common Stock on such date, with the amount which would have been paid as dividends on that number of shares (including fractions of a share) of Common Stock which is equal to the number of Stock Credits then attributed to the Participant's Stock Account. In the case of dividends paid in property other than cash, the amount of the dividend shall be deemed to be the fair market value of the property at the time of the payment of the dividend, as determined in good faith by the Committee.
Stock Account all of the stock shall be distributed on the later of the 7th month following the Director’s separation from service or the January immediately following the calendar year in which the Director has a Separation from Service; or ___ the stock shall be distributed in ______ annual installments (not to exceed ten), beginning on the later of the 7th month following the Director’s separation from service or the January immediately following the calendar year in which the Director has a Separation from Service.
Stock Account. Any Share Award as to which a Participant has elected to defer delivery of the Shares shall be credited to the Participant's Stock Account and shall be deemed to be invested in a number of Deferred Shares equal to the number of Shares that would otherwise have been delivered to the Participant. Whenever a dividend other than a dividend payable in the form of Shares is declared with respect to the Shares, the number of Deferred Shares in the Participant's Stock Account shall be increased by the number of Deferred Shares determined by dividing (i) the product of (A) the number of Deferred Shares in the Participant's Stock Account on the related dividend record date and (B) the amount of any cash dividend declared by the Company on a Share (or, in the case of any dividend distributable in property other than Shares, the per share value of such dividend, as determined by the Company for purposes of income tax reporting) by (ii) the Fair Market Value on the related dividend payment date. In the case of any dividend declared on Shares which is payable in Shares, the Participant's Stock Account shall be increased by the number of Deferred Shares equal to the product of (i) the number of Deferred Shares credited to the Participant's Stock Account on the related dividend record date and (ii) the number of Shares (including any fraction thereof) distributable as a dividend on a Share. In the event of any change in the number or kind of outstanding Shares by reason of any recapitalization, reorganization, merger, consolidation, stock split or any similar change affecting the Shares, other than a stock dividend as provided above, the Committee shall make an appropriate adjustment in the number of Deferred Shares credited to the Participant's Stock Account.
Stock Account. The Committee shall establish and maintain, for the Participant, a Stock Account to record the value of the Participant's interest under the Plan. On the Effective Date, for the purpose of computing the value of the cash benefits to which Participant is entitled hereunder, the Participant's Stock Account shall be credited with 175,000 shares of Phantom Stock which shall be deemed to be the equivalent of an equal number of shares of Common Stock.
Stock Account. The Participant's right to the cash value of the amounts credited to his Stock Account shall become vested (non-forfeitable) in accordance with the following schedule, provided Participant is employed by the Company on each of the dates shown:
