SERP Account definition

SERP Account means the Employer’s accounting of the accumulated amounts credited by the Employer plus accrued interest.

SERP Account or the “Account” means an account maintained under this Agreement on or after the effective date.

SERP Account means the account established to reflect the interest of a SERP Participant in SERP benefits that may be payable under this Plan.

Examples of SERP Account in a sentence

• This means that a Participant who has accrued more than one DC SERP Account component (such as, due to a Separation from Service and subsequent rehire) must satisfy the vesting requirements applicable to each such component.

• No payments shall be made from a Participant’s DC SERP Account except to the extent such Participant is vested in his or her DC SERP Account.

• If a Participant Separates from Service after becoming 100% vested in a particular DC SERP Account component, the Participant will be fully vested in any additional accruals under the same DC SERP Account component following rehire or return (even if the Participant fails to be at the applicable pay level for 36 consecutive months following rehire or return).

• Separate vesting requirements apply to each component of a Participant’s DC SERP Account described in Sections 4.4(C)(i)(a), (i)(b), and (ii).

• The Participant will not, however, be fully vested in any amounts accrued under a different DC SERP Account component unless and until the corresponding applicable vesting requirements under this Section 5.5 otherwise have been satisfied.

More Definitions of SERP Account

SERP Account means a bookkeeping account established by SunTrust for a Participant who changes from a position eligible to participate in the SERP to one that is not eligible and credited with a SERP Benefit under Section 3.8.

SERP Account means the account maintained on the books of the Company for the Employee under Article 4.

SERP Account means the account established and maintained for each SERP Participant which shall consist of:

SERP Account means the account established and maintained for each Participant pursuant to Section 7.3 below.

SERP Account means the account that the Company sets up to keep track of each individual's accrued SERP Awards and Investment Results.

SERP Account means the bookkeeping reserve account established pursuant to Article III and distributed pursuant to Article IV.

SERP Account means, an account to which the Employer shall credit all Performance-based Contributions or P&L Contributions allocated thereto. Each Participant’s SERP Account shall be utilized solely as a device for the termination and measurement of the amounts to be paid to the Participant pursuant to the Plan and related Participation Agreement. A Participant’s SERP Account shall not constitute or be treated as a trust fund of any kind.