Stock Deferral Account definition

Stock Deferral Account means the subaccount established and maintained by Company for specified deferrals of Stock compensation by a Participant, as described in Article III. A Stock Deferral Account will be maintained solely as a bookkeeping entry by Company to evidence unfunded obligations of Company.

Stock Deferral Account means the account established and maintained by the Company for each Participant, which is to be credited, as set forth in Section 6, with the portion of a Participant’s Annual Fees which is payable in Stock and deferred pursuant to the Plan. Amounts credited to a Participant’s Stock Deferral Account will be expressed as a number of Stock Equivalents. Stock Deferral Accounts will be maintained by the Company solely as bookkeeping entries.

Stock Deferral Account means the account or subaccount established and maintained by the Company for specified deferrals of Stock compensation by a Participant, as described in Section 8. Stock Deferral Accounts will be maintained solely as bookkeeping entries by the Company to evidence unfunded obligations of the Company.

Examples of Stock Deferral Account in a sentence

• To the extent that an amount is payable to or on behalf of a Covered Executive with respect to the Automatic Stock Deferral Account in accordance with subsection 3.3, it shall be distributed by the Company in shares of Company Stock in a lump sum.

• In the event of any change in the number of outstanding Shares by reason of any stock dividend, stock split up, recapitalization, merger, consolidation, exchange of shares or other similar corporate change, the number of Units credited to each separate Stock Deferral Account and Stock Matching Account of a Participant shall be appropriately adjusted to take into account any such event.

• The Board of Directors of the Company, or the Organization and Compensation Committee, may, from time to time, amend or terminate the Plan, provided that no such amendment or termination of the Plan shall adversely affect any Stock Deferral Account or Stock Matching Account of a Participant as it existed immediately before such amendment or termination or the manner of distribution thereof, unless such Participant shall have consented thereto in writing.

• The Automatic Stock Deferral Account shall be adjusted from time to time to reflect the deemed reinvestment of dividends in accordance with the terms of the Company’s dividend reinvestment program, as in effect from time to time.

• On a quarterly basis, the Committee shall provide the Covered Executive with statements of the Covered Executive’s Automatic Cash Deferral Account and Automatic Stock Deferral Account.

More Definitions of Stock Deferral Account

Stock Deferral Account means the account established by the Company in the Participant's name to which Shares will be credited in accordance with the Stock Deferral Provisions.

Stock Deferral Account means a book entry account established by the Company to record the amounts credited pursuant to a Participant’s Deferral Election with respect to Compensation in the form of Common Stock (and earnings thereon).

Stock Deferral Account or "Stock Account Balance" shall mean: (i) the sum of the Annual Stock Deferral Amounts; plus (ii) amounts credited in accordance with all the applicable crediting provisions of this Plan that relate to the Stock Deferral Account; less (iii) all distributions made to the Non-Employee Director or his or her beneficiary pursuant to this Plan that relate to the Stock Deferral Account. This account, and each other specified account, shall be a bookkeeping entry only and shall be utilized solely as a device for the measurement and determination of the amounts to be paid to a Participant, or his or her designated Beneficiary, pursuant to this Plan.

Stock Deferral Account means the bookkeeping account used to record the interest of a Participant attributable to his deferred Stock Compensation and any stock dividends paid on the Common Stock credited to his Accounts.

Stock Deferral Account means the Account established for a Participant to record the Stock Units credited to the Participant.

Stock Deferral Account means the account maintained for an Eligible Director pursuant to Section 5.2 (b) or (c), or both, hereof.

Stock Deferral Account means (i) the sum of all shares of Stock deferred by a Participant as a result of all Annual Stock Deferral Amounts, less (ii) the number of shares of deferred Stock previously distributed to the Participant or his or her Beneficiary pursuant to this Plan. This portion of the Participant's Account Balance shall only be distributable in actual shares of Stock.