Examples of ESOP Contribution in a sentence
Subject to the limitations described in Article V, each Employer shall make a Qualified Nonelective Non-ESOP Contribution, a Qualified Nonelective ESOP Contribution, or both in such amount, if any, as the Board shall determine.
Janet MahonBoard Secretary/EA to CEO[Monday to Thursday, 8.30am – 2.30pm] LAURA FERGUSSON REHABILITATION224 Great South Road, PO Box 17-045, Greenlane, Auckland 1546Tel: +64 9 524 0537 / Mob s 9(2)(a)/ Fax: +64 9 529 0123 Disclaimer and Notice:Released under the Official Information Act 1982This e-mail message is privileged and confidential.
Subject to the limitations described in Article V, each Employer shall make a Qualified Nonelective Non- ESOP Contribution, a Qualified Nonelective ESOP Contribution, or both in such amount, if any, as the Board shall determine.
Sartain relies upon Article 7 of the 2002 Plan, which states in part that “[t]he ESOP Contribution Account invested in Qualifying Employer Securities shall be payable as soon as administratively feasible following the end of the Plan Year in which the Participant terminates employment .
Notwithstanding the foregoing, if any Participant has so elected pursuant to the terms of the TRAESOP and/or PAYSOP or, effective November 25, 2013, regarding the Participant’s ESOP Contribution Source Account, any cash dividends received on Common Shares allocated to such Participant’s TRAESOP/PAYSOP Source Account and ESOP Contribution Source Account shall instead be paid to such Participant on a quarterly basis pursuant to the procedures under Section 404(k) of the Code.