Examples of ESOP Component in a sentence

Prior to the Closing Date, the ESOP received a favorable determination letter from the IRS that the ESOP is tax-qualified and tax exempt under Sections 401(a) and 501(a), respectively, of the Code and that the ESOP Component is an “employee stock ownership plan”, within the meaning of Section 4975(e)(7) of the Code.
Profit Sharing Contributions to either the Non-ESOP Component or the ESOP Component of the Plan shall be made by the due date of the Company’s tax return (including extensions) for the year to which such contributions relate.
The Company shall make any Profit Sharing Contributions under the ESOP Component in the form of Company Stock or cash to be invested in Company Stock, as determined by the Board of Directors of the Company in its sole discretion.
Distributions may not be made to an alternate payee under a qualified domestic relations order, as defined in Section 414(p) of the Code, from the ESOP Component before the earliest of the Participant’s (i) attainment of age fifty (50) or (ii) termination of employment.
The Committee may appoint different administrators for the ESOP Component and the Non-ESOP Components of the Plan.

More Definitions of ESOP Component

ESOP Component means the portion of the Participants’ Accounts invested in the AEP Stock Fund. These amounts are designated as, and are intended to constitute, an employee stock ownership plan within the meaning of Section 4975(e)(7) of the Code and Section 407(d)(6) of ERISA.

ESOP Component as defined in the recitals to this Agreement. --------------

ESOP Component means the employee stock ownership plan component of the ESOP. “ESOP Documentation” means the collective reference to (a) the Appleton Papers

ESOP Component means the component of the Plan that is designed to qualify as a stock bonus plan under Section 401(a) of the Code and as an employee stock ownership plan under Section 4975(e)(7) of the Code, which is described in Article XV of the Plan.

ESOP Component means the portion of the Plan

ESOP Component. With respect to any Valuation Date on or after January 1, 2019, that portion of the Trust that is invested in Company Stock. Elective contributions made pursuant to Section 3, Rollover Contributions and transfers accepted pursuant to Section 4, and Company contributions made pursuant to Section 5 shall be deemed to be held in the ESOP Component as of the Valuation Date such contributions or amounts are used to acquire Company Stock pursuant to a Participant’s election under Section 7. The ESOP Component is intended to constitute an employee stock ownership plan (“ESOP”) within the meaning of Code Section 4975(e)(7) and Treasury Regulation Section 54.4975-11(a)(5), as well as a qualified stock bonus plan and a qualified cash or deferred arrangement, within the meaning of Code Sections 401(a) and 401(k)(2).

ESOP Component means the portion of the Plan that is invested in the Common Stock Fund, and the portion of the Plan that is attributable to Before-Tax Contributions made during the Plan Year in which occurs the determination date. Notwithstanding the foregoing, on December 31 of each Plan Year, any funds held in the ESOP Component of the Plan that are not invested in the Common Stock Fund will be transferred to the Non-ESOP Component of the Plan.