KSOP definition

KSOP has the meaning set forth in Section 6.1(n).

KSOP means Signature’s Employee Stock Ownership Plan and Trust effective April 1, 2015, as amended through the date hereof.

KSOP means the Krispy Kreme Profit-Sharing Stock Ownership Plan, as it may be amended from time to time.

Examples of KSOP in a sentence

• KTYB and SYBT shall take any and all actions as may be required to permit the Continuing Employees who are then actively employed to make rollover contributions to the SY Bank KSOP of “eligible rollover distributions” (with the meaning of Section 401(a)(31) of the Code) in the form of cash, notes (in the case of loans) or a combination thereof.

• Upon termination of the Home KSOP, all affected participants shall become fully vested in their accounts under the Home KSOP determined in accordance with the terms of the Home KSOP and applicable law.

• In connection with Executive’s participation in the KSOP, Executive shall be entitled to receive employer-matching contributions equal to one-hundred percent (100%) of the first five percent (5%) of Executive’s base salary, payable in accordance with, and subject to, the provisions, terms and conditions of the KSOP.

• As soon as practicable after receipt of such Final Determination Letter, distribution of benefits under the Home KSOP shall be made to the Home KSOP participants in compliance with the terms of the Home KSOP and the Final Determination Letter.

• Such actions shall include amending the Home KSOP to allocate any excess amounts in the Unallocated Reserve (as defined in the Home KSOP) that may exist after consummation of the Merger.

More Definitions of KSOP

KSOP has the meaning set forth in Section 5.15(d).

KSOP means the Appleton Paper Retirement Savings and Employee Stock Ownership Plan, as amended from time to time.

KSOP means the First Louisiana Bancshares, Inc. KSOP Plan.

KSOP means this employee stock ownership feature of the Plan, which is intended to satisfy Section 4975(e)(7) of the Code and applicable regulations.

KSOP means the Valley Resources, Inc. 401(k) Employee Stock Ownership Plan effective January 1, 1997 as defined by the KSOP Plan.

KSOP means the AIM Bancshares, Inc. 401(k) and Employee Stock Ownership Plan, dated January 1, 2007, and most recently amended and restated as of January 1, 2018, as amended through the date hereof.

KSOP means the Sawtek Inc. Employee Stock Ownership and 401(k) Plan and Trust dated as of July 16, 1997.