Supplemental ESOP Benefit definition

Supplemental ESOP Benefit means the benefit credited to a Participant pursuant to Section 4.01 of the Plan.

Supplemental ESOP Benefit means the benefit attributable to a Participant under the Supplemental ESOP.

Supplemental ESOP Benefit means the benefit provided by this Agreement and calculated with reference to the limitations imposed by Section(s) 401(a)(17) and/or 415 of the Code on the Executive’s benefits under the ESOP. Such benefit shall be determined annually by multiplying the per share market price of the Bank’s stock on December 31 of each Plan Year by the following number of shares: the difference between (i) the number of shares which would have been allocated to the Executive’s ESOP Account for such Plan Year, had the limitation of Sections 401(a)(17) and 415 of the Code not been applicable, and (ii) the number of shares actually allocated to the Executive’s ESOP Account for such Plan Year (taking into account such Code limitations).

Examples of Supplemental ESOP Benefit in a sentence

• A Participant shall have a non-forfeitable right to the Supplemental ESOP Benefit credited to him under this Plan in the same percentage as he has to benefits allocated to him under the ESOP at the time the benefits become distributable to him under the ESOP.

• Supplemental ESOP Benefit Contributions and Supplemental ESOP Benefit Phantom Contributions, as applicable, shall be made or recorded in accordance with Subsection 2.1(a)(3).

• A Participant shall have a non-forfeitable right to the Supplemental ESOP Benefit credited to him under this Plan in the same percentage as he has benefits allocated to him under the ESOP at the time the benefits become distributable to him under the ESOP.

• A Participant's Supplemental ESOP Benefit shall be paid to the Participant or in the event of the Participant's death, to his beneficiary in the same form, time and medium (i.e., cash and/or shares of Common Stock) as his benefits are paid under the ESOP.

• A Participant’s Supplemental ESOP Benefit shall be paid to the Participant or, in the event of the Participant’s death, to his beneficiary (as designated on a form acceptable to the Employer), in a single lump sum payment as soon as administratively practicable (but no later than 60 days) following the Participant’s Separation from Service.

More Definitions of Supplemental ESOP Benefit

Supplemental ESOP Benefit means the benefit payable pursuant to section 3.1 of the Plan.

Supplemental ESOP Benefit means the benefit provided for a Participant under this Plan.

Supplemental ESOP Benefit means value of the Participant’s Account as of the most recent Valuation Date.

Supplemental ESOP Benefit means the benefit credited to a Participant’s Supplemental ESOP Account pursuant to Section 4.01 of the Plan.

Supplemental ESOP Benefit means the benefit provided by this BEP under Section 3.2(c) based on limitations imposed by Section 401(a)(17) and/or 415(c) of the Code.

Supplemental ESOP Benefit means the benefit payable to the Participant pursuant to the Plan, as determined in accordance with the provisions of Section 4.02 of the Plan.

Supplemental ESOP Benefit means the benefit payable from the Plan attributable to the supplemental ESOP contributions and earnings thereon.