Company Accruals definition

Company Accruals means the amounts credited to the Deferred Compensation Reserve pursuant to Section 3.2.
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Company Accruals shall equal those accrued amounts pertaining to the Company or the Surviving Company as set forth in Schedule 1C.1(g) as Company Accruals, as such Schedule is updated prior to the Effective Time as contemplated by this Section 1C.1(g). At least seven (7) business days prior to the Closing, the Company’s Chief Executive Officer and Controller shall deliver to Buyer and Merger Co. a certified good faith estimate of the Company Allocation (including the Company Scheduled Obligations and Company Accruals) together with supporting documentation for such estimates and any additional information reasonably requested by Buyer and Merger Co. In the event that Buyer and Merger Co. agree with the estimates set forth in such certificate, the Buyer shall so notify the Company and the Company Allocation and Company Accruals set forth therein shall be deemed to be finally determined. In the event that Buyer and Merger Co. disagree with any of such good faith estimates of the Company Allocation and Company Accruals set forth on such certificate, the Buyer shall notify the Company within three (3) business days of receipt thereof and the parties shall thereafter negotiate in good faith to resolve any disagreement. Upon mutual reconciliation by the parties of the appropriate amounts to be attributed to the Company Allocation and/or Company Accruals, such amounts shall be deemed to be finally determined for purposes of setting such amounts at the Closing (such amount the “Initial Company Allocation”) (but which remain subject to potential further adjustment pursuant to Section 1C.1(h)).
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Company Accruals has the meaning set forth in Section 1C.1(g).
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Examples of Company Accruals in a sentence

  • For purposes of the preceding sentence, Company Accruals allocated in a given calendar year shall be deemed allocated on March 1 of such calendar year.

  • All vesting on Company Accruals is subject to a Participant’s compliance with the Company’s Non-Competition Agreement.

  • Such additional Company Accruals may be made in accordance with procedures established by the Company at the time such Company Accruals are allocated to a Participant’s Account.

  • If the Participant is a current or former Non-Employee Director at the time Deferred Compensation or Company Accruals are credited to the Participant’s account under this Plan, no tax shall be paid with respect to such amounts and no reduction to reflect such taxes shall be made in the amounts credited.

  • Undistributed Company Accruals shall be forfeited upon a finding by the Company that a Participant has engaged in competition with the Company.

  • A separate change may be made with respect to each Election Year beginning on or after January 1, 2001, and with respect to the Participant’s Account attributable to Deferred Compensation and Company Accruals as of December 31, 2000.

  • Notwithstanding the foregoing of this Section 3.3(b), and subject to the approval of the HR Officer, a Participant shall become fully vested in Company Accruals and the related earnings allocated to the Participant’s account if the Participant’s Separation from Service is due to Retirement, Death or Permanent Disability.

  • The Company may make discretionary Company Accruals for each Election Year to be allocated to the Deferred Compensation Reserve on behalf of Participants.

  • If a Participant is found to have engaged in competition with the Company, the Participant shall forfeit all undistributed Company Accruals, whether vested or unvested.

  • Notwithstanding the foregoing, a Participant shall only be eligible for Company Accruals for Compensation earned during periods in which the Participant is eligible to participate in the Profit Sharing Plan.

Related to Company Accruals

  • Company Account means the bank or/and electronic Account of the Company, and the Company Account in the Processing Center.

  • Intercompany Account means any receivable, payable or loan between any member of the Ensign Group, on the one hand, and any member of the Pennant Group, on the other hand, that exists prior to the Effective Time and is reflected in the records of the relevant members of the Ensign Group and the Pennant Group, except for any such receivable, payable or loan that arises pursuant to this Agreement or any Ancillary Agreement.

  • Intercompany Accounts has the meaning set forth in Section 2.03(a).

  • Deferred Compensation Account means the account maintained with respect to each Participant under the Plan. The Deferred Compensation Account shall be credited with Participant Deferral Credits and Employer Credits, credited or debited for deemed investment gains or losses, and adjusted for payments in accordance with the rules and elections in effect under Section 8. The Deferred Compensation Account of a Participant shall include any In-Service or Education Account of the Participant, if applicable.

  • Thrift Plan means the Financial Institutions Thrift Plan, a qualified and tax-exempt defined contribution plan and trust under Sections 401(a) and 501(a) of the Code, as adopted by the Bank.

  • Company Matching Contributions means the Company contributions described in Section 3.4.

  • Company Contributions means the contributions made by the Company pursuant to Section 3.3.

  • Employer Matching Contributions means the Employer matching contributions made to the Trust Fund pursuant to Article V (Employer Matching Contributions).

  • Compensation Plans shall have the meaning set forth in Section 3.11(b).

  • Deferred Compensation Plan means any plan, agreement or arrangement maintained by the Company from time to time that provides opportunities for deferral of compensation.

  • Deferrals means the amount of the Director’s Compensation that the Director elects to defer according to this Agreement.

  • Company Contribution Account means (i) the sum of the Participant’s Company Contribution Amounts, plus (ii) amounts credited or debited to the Participant’s Company Contribution Account in accordance with this Plan, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant’s Company Contribution Account.

  • Company Matching Account means (i) the sum of all of a Participant's Annual Company Matching Amounts, plus (ii) amounts credited in accordance with all the applicable crediting provisions of this Plan that relate to the Participant's Company Matching Account, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant's Company Matching Account.

  • Subsidy Account If the Trust Estate contains any Subsidy Loans, the deposit account or accounts created and maintained by the Servicer for deposit of Subsidy Funds and amounts payable under interest subsidy agreements relating to mortgage loans other than the Mortgage Loans.

  • Matching Contribution Account means the separate, individual account established on behalf of a Participant to which the Matching Contributions made on such Participant's behalf are credited, together with all earnings and appreciation thereon, and against which are charged any withdrawals, loans and other distributions made from such account and any losses, depreciation or expenses allocable to amounts credited to such account.

  • Retirement Plans means the retirement income, supplemental executive retirement, excess benefits and retiree medical, life and similar benefit plans providing retirement perquisites, benefits and service credit for benefits at least as great in the aggregate as are payable thereunder prior to a Change in Control;

  • Qualified Plans has the meaning set forth in Section 5.20.

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • Accumulated contributions means the sum of all

  • Deferral Contributions are Salary Reduction Contributions and Cash or Deferred Contributions the Employer contributes to the Trust on behalf of an Eligible Employee, irrespective of whether, in the case of Cash or Deferred Contributions, the contribution is at the election of the Employee. For Salary Reduction Contributions, the terms "deferral contributions" and "elective deferrals" have the same meaning.

  • Employee Account means any brokerage account or unit investment trust account in which the Van Kampen Employee has any direct or indirect beneficial ownership.

  • Non-U.S. Benefit Plan has the meaning set forth in Section 3.20(a).

  • Company Pension Plan means each: (a) Company Employee Plan that is an “employee pension benefit plan,” within the meaning of Section 3(2) of ERISA; or (b) other occupational pension plan, including any final salary or money purchase plan.

  • Contribution Account means an account, or accounts, into which the Accountholder and employer contributions are deposited by the TPA, and from which HSA dollars are swept into the Cash Account.

  • Matching Contributions are contributions made by the Employer on account of elective deferrals under a Code Section 401(k) arrangement or on account of employee contributions. Matching contributions also include Participant forfeitures allocated on account of such elective deferrals or employee contributions.

  • Qualified Plan means a Pension Plan that is intended to be tax-qualified under Section 401(a) of the IRC.