ESOP Stock Account definition

ESOP Stock Account means that portion of the ESOP Account consisting of Stock.
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ESOP Stock Account means the portion, if any, of the Accounts of a Participant, expressed in shares of common stock of A.G. Edwards, Inc., from time to time invested in the Employer Stock Fund.
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ESOP Stock Account means the account established by the Plan Administrator for each Participant that is to be credited with allocations under the ESOP and shall include stock held by the Trustee and invested in the City National Common Stock Fund and other adjustments as required under Articles III, IV and X of the Plan.
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Examples of ESOP Stock Account in a sentence

  • Each Participant is solely responsible for any decision to defer compensation into his or her EDCP Stock Account, and to retain in his or her ESOP Stock Account any amounts credited thereto, and to transfer amounts to and from his or her Stock Accounts.

  • Upon the purchase of Company Stock with cash held in a Participant’s ESOP Cash Account, an appropriate number of shares of Company Stock shall be credited to the Participant’s ESOP Stock Account and the Participant’s ESOP Cash Account shall be charged by the amount of the cash used to purchase the Company Stock for the Participant’s ESOP Stock Account.

  • If a portion of a Participant's ESOP Account is forfeited, Stock allocated to said Participant's ESOP Stock Account shall be forfeited only after other assets are forfeited.

  • The Committee shall maintain the following ESOP Accounts in the name of each Participant: an ESOP Stock Account, a Profit Sharing Account, and an ESOP Cash Account.

  • Unless an earlier date is required by paragraphs (d), (e) or (f) of this Section, if a Participant resigns or is dismissed from the employ of the Employers and Controlled Group Members for a reason other than retirement, Total and Permanent Disability or death, the Participant will be eligible to receive a distribution of his ESOP Stock Account as soon as practicable following the Participant’s election to commence benefits, subject to paragraph (f) below.

  • For each of the first five (5) Plan years in the qualified election period, the Participant may elect to diversify an amount which does not exceed 25% of the number of shares allocated to his ESOP Stock Account since the inception of the Plan, less all shares with respect to which an election under this Section has already been made.

  • The Participant must repay in a single lump sum to the Trustee, without interest, the amount of cash, and fair market value of other property, received from his ESOP Stock Account and ESOP Cash Account.

  • Dividends on Stock which are received by the Trustee in the form of additional Stock shall be retained in the ESOP Stock Account, and shall be allocated among the Participant's Accounts and the Unallocated Stock Fund in accordance with their holdings of the Stock on which the dividends have been paid.

  • For the last year of the qualified election period, the Participant may elect to have up to 50 % of the value of his ESOP Stock Account committed to other investments, less all shares with respect to which an election under this Section has already been made.

  • Each ESOP Account (i.e., ESOP Stock Account and ESOP Cash Account) shall be adjusted as of each Valuation Date to reflect its pro rata share of the effect of income collected and accrued, realized and unrealized profits and losses and expenses of the ESOP portion of the Plan since the last Valuation Date.


More Definitions of ESOP Stock Account

ESOP Stock Account means an account maintained on the books of the OneBeacon Insurance Company Employee Stock Ownership Plan prior to the merger of said Plan with the OneBeacon 401(k) Savings Plan. Upon such merger such Account was renamed the Employer Discretionary Contributions Account and the balance in a Participant’s ESOP Stock Account immediately prior to the merger was the beginning balance in his Employer Discretionary Contributions Account immediately following the merger.
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ESOP Stock Account means the account established and maintained in the name of each Participant or Beneficiary to reflect his share of Company Stock.
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Related to ESOP Stock Account

  • 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 Account means the account maintained on behalf of the Participant by the Custodian for the purpose of holding Stock acquired under the Plan.

  • 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.

  • 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).

  • ESOP Account means a Participant’s account to which are credited Matching Contributions made to the Plan after March 31, 1989, and earnings and losses thereon.

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

  • Share Account A form of Deposit Account that each member is required to maintain to remain a member of BECU. We, us, our: BECU. You, your: Each person or entity, individually, and collectively, who opens, establishes, accesses, is named as an Account Holder or Authorized Signer or who applies for any Account.

  • Deferral Account means the Company's accounting of the Director's accumulated Deferrals plus accrued interest.

  • Unit Account means a notional account opened and managed by Us for You, in which the Units are allocated following the receipt of the Premium from You and in which the Units are cancelled by Us for the purpose of paying the benefits or for recovering the applicable charges;

  • Plan Account means the account established for each Participant pursuant to Section 8(a).

  • Stock Unit Account means the bookkeeping account established by the Company pursuant to Section 6.4.

  • 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

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

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

  • Participant’s Account means an account maintained for each Participant’s participation in DSUs and/or RSUs under the Plan;

  • Rollover Account means the account established hereunder to which amounts transferred from a qualified plan or individual retirement account in accordance with Section 4.6 are allocated.

  • Company Contribution Account means (i) the sum of the Participant’s Company Contribution Amounts, plus (ii) amounts credited or debited to the Participant’s Company Contribution Account in accordance with this Plan, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant’s Company Contribution Account.

  • Deferred Compensation Account means the account maintained with respect to each Participant under the Plan. The Deferred Compensation Account shall be credited with Participant Deferral Credits and Employer Credits, credited or debited for deemed investment gains or losses, and adjusted for payments in accordance with the rules and elections in effect under Section 8. The Deferred Compensation Account of a Participant shall include any In-Service or Education Account of the Participant, if applicable.

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

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • Matching Contribution Account means the separate, individual account established on behalf of a Participant to which the Matching Contributions made on such Participant's behalf are credited, together with all earnings and appreciation thereon, and against which are charged any withdrawals, loans and other distributions made from such account and any losses, depreciation or expenses allocable to amounts credited to such account.

  • Rollover Contribution Account means the separate Account maintained for a Member to record such Member's share of the Trust Fund attributable to any Rollover Contribution made to the Plan on his behalf.

  • 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.

  • Profit Sharing Account means any one of the accounts so designated and provided for in Section 6.01.

  • ESOP means a Plan that is intended to satisfy the requirements of Section 4975(e)(7) of the IRC.

  • Company Matching Account means (i) the sum of all of a Participant's Annual Company Matching Amounts, plus (ii) amounts credited in accordance with all the applicable crediting provisions of this Plan that relate to the Participant's Company Matching Account, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant's Company Matching Account.