Supplemental ESOP Account definition

Supplemental ESOP Account means an account established by an Employer, pursuant to Section 5.01 of the Plan, with respect to a Participant's Supplemental ESOP Benefit.

Supplemental ESOP Account means a bookkeeping account that is credited with Stock Units and Employer Contributions to reflect all Shares and Employer Contributions (including any reallocation of amounts forfeited upon the termination of employment of others participating in the ESOP), respectively, that cannot be allocated to a Member’s account under the ESOP due to the Applicable Limitations.

Supplemental ESOP Account means the account established for a Participant under the Supplemental ESOP Plan.

Examples of Supplemental ESOP Account in a sentence

• For each Participant who is credited with a benefit pursuant to Section 9.2, the Employer shall establish, as a memorandum account on its books, a Supplemental ESOP Account.

• Cash contributions credited to a Participant’s Supplemental ESOP Account shall be credited at least annually with earnings and losses at a rate equal to the combined weighted return provided to the Participant’s non-stock accounts under the ESOP.

• An amount equal to the vested percentage (pursuant to the vesting schedule in Section 3.3) of the Deferral Account balance, calculated as of the date of the Accelerated Distribution Event, plus 100% of the Supplemental ESOP Account and Supplemental Savings Account.

• Each year, the Committee shall credit to the Participant’s Supplemental ESOP Account the amount of benefits determined under Section 9.2 for that year.

More Definitions of Supplemental ESOP Account

Supplemental ESOP Account means the bookkeeping account to which a Participant’s Annual ESOP Credits and earnings thereon are credited.

Supplemental ESOP Account means the account maintained by the Company under the Plan for each Participant who receives Supplemental ESOP Allocations under the Plan.

Supplemental ESOP Account means an account established by the Bank, pursuant to Section 9.3 of the Agreement, with respect to the Executive’s Supplemental ESOP Benefit.

Supplemental ESOP Account means the account maintained under the Plan for each Participant who receives Supplemental ESOP Allocations under the Plan (and earnings thereon); provided, however, that no Supplemental ESOP Allocation shall be made to the Supplemental ESOP Account of any Participant for any Plan Year that begins on or after January 1, 2005.