Personal Holding Corporation definition

Personal Holding Corporation means a corporation that is controlled by an Eligible Person and the shares of which are beneficially owned by the Eligible Person and the spouse, minor children or minor grandchildren of the Eligible Person;

Personal Holding Corporation means a corporation that is controlled by an Eligible Person (who is a natural person) and the shares of which are beneficially owned by the Eligible Person and the spouse, minor children or minor grandchildren of the Eligible Person;

Personal Holding Corporation means a corporation that is controlled by the Optionholder and the shares of which are beneficially owned by the Optionholder and/or the spouse, minor children or minor grandchildren of the Optionholder;

Examples of Personal Holding Corporation in a sentence

• Personal Holding Corporation: Accounts of corporations controlled by a customer provided that the beneficial ownership of a majority of the equity capital of the corporation is held by persons other than the customer, as might be the case in a corporation created pursuant to an estate freeze.

• Options are non-assignable and, accordingly, a Participant exercising an Option may subscribe for Shares only in his or her own name, on behalf of a Trust, in the name of his or her Personal Holding Corporation or in his or her capacity as a legal representative.

• Any Options held by the Personal Holding Corporation of a Canadian Participant shall terminate immediately upon that corporation ceasing to qualify as a Personal Holding Corporation as provided by Section 1(k) hereof.

• For the purposes of this Plan, Options held by the Personal Holding Corporation of a Director and/or Senior Officer Participant shall be considered to be held by that Director and/or Senior Officer Participant.

• A person exercising an Option may subscribe for Shares only in his or her own name, on behalf of a Trust established for his or her sole benefit, in the name of his or her Personal Holding Corporation or in his or her capacity as a legal representative.

More Definitions of Personal Holding Corporation

Personal Holding Corporation means a corporation Controlled by an Eligible Individual, the issued and outstanding shares of which are, and will continue to be, beneficially owned, directly or indirectly, only by such Eligible Individual and/or the spouse, children and/or grandchildren of such Eligible Individual;

Personal Holding Corporation means a corporation that is controlled by a Non-Employee Director and the shares of which are beneficially owned by the Non-Employee Director and the spouse, minor children or minor grandchildren of the Non-Employee Director;

Personal Holding Corporation means a corporation Controlled by a Director and/or Senior Officer Participant;

Personal Holding Corporation means a corporation Controlled by a Director and/or SeniorOfficer Participant;

Personal Holding Corporation means a corporation controlled by a Participant, the issued and outstanding voting shares of which are beneficially owned, directly or indirectly, by such Participant and/or the spouse, children and/or grandchildren of such Participant;

Personal Holding Corporation means a corporation Controlled by a Director and/or Senior Officer Participant; “Plan” means this Stock Option Plan;

Personal Holding Corporation means a personal holding corporation that is either wholly owned, or controlled by, the Participant, and the shares of which are held directly or indirectly by any of the Participant or the Participant’s spouse, minor children and/or minor grandchildren;