Company ESOP definition

Company ESOP means the Employee Stock Ownership Plan maintained by the Company Bank.

Company ESOP means that certain Employee Stock Ownership Plan, or the trust established under such plan, established by the Company.

Company ESOP has the meaning set forth in Section 7.9(b).

Examples of Company ESOP in a sentence

• Except for any obligations pursuant to this Agreement or as otherwise set forth above in this Section 3.03(a) and other than pursuant to the Company ESOP, as of the date of this Agreement, there are no options or other rights to acquire from the Company, or other obligation of the Company to issue, any additional Securities, and there are no outstanding obligations of the Company or any of its Subsidiaries to repurchase, redeem or otherwise acquire any Securities.

• Promptly following the receipt of a favorable determination letter from the IRS regarding the qualified status of the Company ESOP upon its termination, the account balances in the Company ESOP shall either be distributed to participants and beneficiaries or transferred to an eligible tax-qualified retirement plan or individual retirement account as a participant or beneficiary may direct.

• As soon as practicable following the receipt of a favorable determination letter from the IRS regarding the qualified status of the Company ESOP upon its termination, the account balances in the Company ESOP shall either be distributed to participants and beneficiaries or transferred to an eligible tax-qualified retirement plan or individual retirement account as a participant or beneficiary may direct.

• In connection with the termination of the Company ESOP, the Company shall promptly apply to the IRS for a favorable determination letter on the tax-qualified status of the Company ESOP on termination and any amendments made to the Company ESOP in connection with its termination or otherwise, if such amendments have not previously received a favorable determination letter from the IRS with respect to their qualification under Code Section 401(a).

• As soon as practicable after the date of this Agreement, the Company shall file or cause to be filed all necessary documents with the IRS for a determination letter for termination of the Company ESOP.

More Definitions of Company ESOP

Company ESOP means the Company’s employee stock option plan duly approved by the Board on 12 December 2014 and as amended from time to time.

Company ESOP means the Company’s 1984 Employee Stock Ownership Plan, as amended and restated, and the Company’s 2013 Employee Stock Ownership Plan, as amended and restated.

Company ESOP means the Company's 1998 Stock Incentive Plan.

Company ESOP shall have the meaning set forth in Section 6.15.

Company ESOP means the Clifton Savings Bank Amended and Restated Employee Stock Ownership Plan.

Company ESOP means the New England Bank Employee Stock Ownership Plan.

Company ESOP means the Athens Federal Community Bank Employee Stock Ownership Plan, as amended and restated effective January 1, 2015.