ESOP Compensation definition
ESOP Compensation means the total payments received by a Participant from the Employer during the Plan Year and reportable on his Internal Revenue Service Form W-2, including any amounts deferred by a Participant under a qualified cash or deferred arrangement maintained by the Employer pursuant to Section 401(k) of the Code and the amount of any reduction in a Participant's compensation under a cafeteria plan maintained by the Employer pursuant to Section 125 of the Code, and excluding amounts in excess of $60,000, multiplied by the sum of one (1) plus a fraction, the numerator of which is the Participant's Years of Service (not to exceed twenty (20)) and the denominator of which is forty (40).
ESOP Compensation means the non-cash charge portion of the ESOP compensation expense reflected in Company’s financial statements.
ESOP Compensation the non-cash charge portion of the ESOP compensation expense reflected in Borrower’s financial statements.
Examples of ESOP Compensation in a sentence
Requirements of Law: all laws, ordinances, orders, judgments, rules ------------------- and regulations applicable to the Mortgaged Property.
Under the terms of the ESOP and the ESOP Sharing Agreement, the Company is not, and will not at any time (by means of an amendment to the ESOP Plan or otherwise) be, liable for the ESOP Compensation Expense or ESOP Repurchase Payments related to any Persons that are not employees of the Company and its Subsidiaries.
More Definitions of ESOP Compensation
ESOP Compensation means Borrower's compensation expense determined in accordance with the American Institute of Certified Public Accountants Statement of Position 93-6.