ESOP Accounts definition

ESOP Accounts means the Company Matching Account - ESOP, Account, Deferral Account - - ESOP, Employee After-Tax Contributions Account - ESOP, Defined Company Contributions Account - - ESOP, Dividend Reinvestment Account - ESOP, Rollover Account - ESOP, and to the extent invested in the ESOP Entergy Corporation Stock Fund, any other Member Account.

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ESOP Accounts means the Member’s Company Common Stock Account, Prior ESOP Company Account, and Prior ESOP Employee Matching Account.

ESOP Accounts means the accounts maintained for a Participant in which his allocated share of Employer contributions and Amounts Forfeited and any adjustments relating thereto are recorded, unless otherwise directed in the Plan. The contributions allocated to such accounts shall be all Employer contributions which are designed to be invested primarily in Qualifying Employer Securities and Employer Securities. Subaccounts shall be established as needed.

Examples of ESOP Accounts in a sentence

• Upon release of the Qualifying Employer Securities from the suspense account, they shall be available for allocation to the Participants’ ESOP Accounts.

• Notwithstanding any other provisions of the Plan to the contrary, a Participant who attains age 701/2 may elect to receive distribution of his Separate Accounts or Separate ESOP Accounts beginning as of April 1 of the calendar year following the calendar year in which he attains age 701/2, regardless of whether his Settlement Date has occurred.

• Any such payment shall be charged to the Separate Accounts or Separate ESOP Accounts of the person found incapable of attending to his financial affairs and shall be a complete discharge of any liability therefor under this Agreement.

• If tender or exchange instructions for Shares allocated to the Separate Accounts and Separate ESOP Accounts of any Participant are not timely received by the Trustee, the Trustee will treat the non-receipt as a direction not to tender or exchange such Shares.

• As of the date an Employee first becomes a Participant, there shall be established two Separate ESOP Accounts in his name, a Stock Account and a Cash Account, to reflect the interest of the Participant in the ESOP Fund.

• For all purposes of this Agreement, the balance of the Separate ESOP Accounts of each Participant as of any date shall be the balance of each account after all credits and charges thereto, for and as of that date, have been made as provided in this Agreement.

• Unless a Participant elects otherwise, in no event shall distribution of the nonforfeitable portion of his Separate ESOP Accounts be made later than one year after the close of the Plan Year in which the Participant separates from service by reason of his attainment of age 55, disability, death, or other termination of employment.

• A discontinuance of contributions shall not constitute a formal termination of the Plan and shall not preclude later contributions, but all ESOP Accounts not theretofore fully vested shall become fully vested in the respective Participants notwithstanding the provisions of Section 6.2. In such event, Employees who become eligible to enter the Plan subsequent to the discontinuance shall receive no benefits.

• The written explanation provided by the Committee shall include a description of the consequences of the Participant or Beneficiary electing an immediate distribution of his vested Separate Accounts and Separate ESOP Accounts instead of deferring payment to his attainment of age 62.

• Notwithstanding anything to the contrary contained in this Agreement, upon attainment of age 55 a Participant’s right to receive distribution of the balance of his Separate Accounts and Separate ESOP Accounts as of his Settlement Date, in accordance with the provisions of this Article IX, shall be fully vested and nonforfeitable.

More Definitions of ESOP Accounts

ESOP Accounts means the Employer Matching Contribution Account, the Employer Performance Contribution Account, and the Discretionary Contribution Account referenced in Section 11.03(h).

ESOP Accounts means a Participant's ESOP Account and ESOP Diversification Account.

ESOP Accounts means the following individual Accounts:

ESOP Accounts means those Accounts constituting the ESOP portion of the Plan. The ESOP Accounts shall be invested in the Company Stock Fund.

ESOP Accounts means the accounts maintained for a Participant in which his allocated share of Employer contributions and Amounts Forfeited and any adjustments relating thereto are recorded, unless otherwise directed in the Plan. The contributions allocated to such accounts shall be all Employer contributions which are designed to be invested primarily in Qualifying Employer Securities and Employer Securities. Subaccounts shall be established as needed. Provided, Employer Matching Contributions made pursuant to Section 5.2(a) of the Plan, plus any and all income or losses on such contributions (the “Matching Contribution Account”) shall be considered a subaccount within this ESOP Account.