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Employer Shares definition

Employer Shares or "Shares" means securities which constitute "employer securities" under Section 409(l) of the Code and "qualifying employer securities" under Section 4975(e)(8) of the Code and Section 407(d)(5) of ERISA.
Sample 1Sample 2
Employer Shares means shares of common stock of Johnson & Johnson.
Sample 1Sample 2
Employer Shares means shares of common stock of Johnson & Johnson, or shares of convertible preferred stock of Johnson & Johnson (including fractional shares) which qualify as an employer security under Code Section 409(l). Except as required by Code Section 409(h) and by Treasury Regulation sections 54.4975‑7(b)(9), (10), or as otherwise required or permitted by Code Section 409(l) or other applicable law, no Employer Shares that were acquired through an Acquisition Loan may be subject to a put, call or other option, or buy‑sell or similar arrangement while held by, and when distributed from, the Plan, whether or not the Plan is an employee stock ownership plan, within the meaning of Code Section 4975(e)(7) at that time.
Sample 1

Examples of Employer Shares in a sentence

  • Any securities or other property received by the Trustee as a result of having tendered Employer Shares after a tender offer shall be held, and any cash so received shall be held, in the account or investment fund from which the corresponding shares were tendered.

  • The Trustee shall vote Employer Shares attributable to the proportionate value in each Member’s Account in accordance with directions of each Member to whose Account such proportionate value has been credited to the extent of his share interest (which shall include fractional as well as whole shares) therein.

  • Any Employer Shares which, following the Trustee’s tender thereof, have not been accepted by the party making such a tender offer and are returned to the Trustee, shall be credited to the Accounts of Members for whom such shares were tendered in proportion to the shares that were tendered by each such Member.

  • The ESOP component of the Plan is designed to invest primarily in Employer Shares.

  • Agere agrees that it will continue to maintain a Lucent Stock Fund and a Lucent Employer Shares Fund under the Agere Savings Plans to hold shares of Lucent Common Stock credited to Transferred Individuals under the corresponding investment funds under the Lucent Savings Plans.

  • In the event any rights, warrants, or options are issued on the Shares, the Trustee on behalf of Participants shall sell them and invest the proceeds in Employer Shares, which shall be equitably allocated to each Participant's Account Balance on the basis of the ratio of the Shares in each such Account Balance to the total Shares in all Participants' Account Balances.

  • Participants are entitled to obtain a certificate representing the Participant Shares and Employer Shares held in their Account by delivering to the Administrator a written request in the form prescribed by the Administrator.

  • The Participant shall not be permitted to withdraw or sell any of the Employer Shares credited to the Participant’s Account.

  • Any Plan assets not invested in Employer Shares shall be invested in other investment vehicles by the Trustee, in its discretion, pursuant to the provisions of the Trust Agreement.

  • Subject to compliance with applicable laws, Participants are entitled to sell all Participant Shares and Employer Shares held in their Account at any time.

Related to Employer Shares

  • Employer Stock means any class of common stock of Quest Diagnostics or the preferred stock of Quest Diagnostics that is convertible into common stock.

  • Employer Securities means common stock, any other type of stock or any marketable obligation (as defined in Section 407(e) of ERISA) issued by the Company or any Affiliate of the Company; provided, however, that if Employer Securities are purchased with borrowed funds, Employer Securities, to the extent required by Section 4975 of the Code, shall only include

  • Company Stock means, collectively, the Company Common Stock and the Company Preferred Stock.

  • Company Stock Fund means a hypothetical investment fund pursuant to which Deferred Stock Units are credited with respect to a portion of an Award subject to an Election, and thereafter until (i) the date of distribution or (ii) the effective date of a Diversification Election, to the extent a Diversification Election applies to such Deferred Stock Units, as applicable. The portion of a Grantee’s Account deemed invested in the Company Stock Fund shall be treated as if such portion of the Account were invested in hypothetical shares of Common Stock or Special Common Stock otherwise deliverable as Shares upon the Vesting Date associated with Restricted Stock or Restricted Stock Units, and all dividends and other distributions paid with respect to Common Stock or Special Common Stock were held uninvested in cash and credited with interest at the Applicable Interest Rate as of the next succeeding December 31 (to the extent the Account continues to be deemed credited in the form of Deferred Stock Units through such December 31).

  • Plan Shares means shares of Common Stock held in the Trust which are awarded or issuable to a Participant pursuant to the Plan.

  • Company Stock Account means the account established and maintained in the name of each Participant or Beneficiary to reflect his share of the Trust Fund invested in Company Stock.

  • Stock Fund means that portion of the Trust Fund consisting of Stock.

  • Company Stock Options means all options to acquire shares of Company Common Stock from the Company, whether granted pursuant to the Company Stock Plans or otherwise.

  • Employer Contributions means the amount transferred by an employer to a funding account or a health reimbursement account.

  • Company Stock Option means an option to purchase shares of Common Stock.

  • Employer Contribution means the amount paid by an employer, as determined by the employer rate, including the normal and deficiency rates, contributions, and funds wherever used in this chapter.

  • Participating Shares means shares that entitle their holders to participate without limitation in distributions.

  • Elective Deferrals mean Compensation and Elective Deferrals for: . [Note: The Employer must complete the blank line with the applicable time period for computing the Basic Match, such as "each payroll period," "each calendar month," "each Plan Year quarter" or "the Plan Year."]

  • Vested Shares means "Vested Shares" as defined in the Award Agreement.

  • Qualified Matching Contributions means any Participating Employer Contributions to this Plan on behalf of Eligible Employees, provided that amounts attributable to such contributions are not distributable merely on account of the Employee’s hardship and are immediately vested.

  • Deferred Shares means an award made pursuant to Section 7 of this Plan of the right to receive Common Shares at the end of a specified Deferral Period.

  • Small employer carrier means any carrier that offers health

  • Unvested Shares means "Unvested Shares" as defined in the Award Agreement.

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

  • Elective Deferral Account means the account established hereunder to which Elective Deferrals (including a separate accounting for Catch-Up Contributions) are allocated. Amounts in the Participant's Elective Deferral Account are nonforfeitable when made and are subject to the distribution restrictions of Section 12.2(e). The Elective Deferral Account may consist of the

  • Qualified Matching Contribution means any employer contribution allocated to an Eligible Employee's account under any plan of an Employer or a Related Company solely on account of "elective contributions" made on his behalf or "employee contributions" made by him that is a qualified matching contribution as defined in regulations issued under Code Section 401(k), is nonforfeitable when made, and is distributable only as permitted in regulations issued under Code Section 401(k).

  • Deferred Stock Account means a bookkeeping account maintained by the Company for a Participant representing the Participant's interest in the shares credited to such Deferred Stock Account pursuant to Paragraph 7 hereof.

  • Employer Account The Participant's Matching 401(k) Contributions Account, Matching Thrift Contributions Account, Employer Contributions Account, Qualified Matching Contributions Account and Qualified Nonelective Contributions Account, as the case may be.

  • Employer/Owner means the DAKSHIN HARYANA BIJLI VITRAN NIGAM and the legal successors in title to the Employer/Owner but not (Except with the consent of the Contractor) any assignees of the Employer/Owner.

  • Restricted Shares shall have the respective meanings set forth in Section 2.14.

  • Qualified Nonelective Contributions means contributions other than Matching Contributions or Qualified Matching Contributions) made by the Employer and allocated to participants’ accounts that the participants may not elect to receive in cash until distributed from the Plan; that are nonforfeitable when made to the Plan; and that are distributable only in accordance with the distribution provisions (other than for hardships) applicable to Pre-Tax Contributions.

Most Referenced Clauses

Most Referenced Definitions