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
The SERP also provides the Executive with the opportunity to earn a Supplemental ESOP Benefit and Supplemental Savings Benefit in the event certain benefits under these tax-qualified retirement plans are cut back due to the Internal Revenue Code limits on compensation.
The SERP also provides the Executive with the opportunity to earn a Supplemental ESOP Benefit and a Supplemental Savings Benefit in the event certain benefits under these Bank’s tax-qualified retirement plans are cut back due to the Internal Revenue Code limits on compensation.
More Definitions of Supplemental ESOP Benefit
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 the Executive pursuant to Section 9.2 of the Agreement.
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 payable from the Plan attributable to the supplemental ESOP contributions and earnings thereon.
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.