TRASOP Account definition

TRASOP Account means the TRASOP Account formerly maintained under the ESRP, which has been transferred to this Plan.

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TRASOP Account which means a Participant's interest in the Plan's assets composed of the amount allocated under the Plan as of the Effective Date, if any (as identified by the Administrator), including amounts allocated from the WHITMAN CORPORATION TAX REDUCTION ACT STOCK OWNERSHIP PLAN, if any, which continue to be accounted for under the Plan consistent with the former provisions of the Plan (as identified by the Administrator), plus all income and gains credited to, and minus all losses, expenses, withdrawals and distributions charged to, such Account.

TRASOP Account means an account maintained on behalf of an Employee by the Trustee under the TRASOP, in which is shown the number of Shares beneficially owned thereunder by the Employee, as determined under the provisions and requirements of the TRASOP.

Examples of TRASOP Account in a sentence

• When requesting a withdrawal, any withdrawal amount shall come only from his or her Accounts, in the following priority order of Accounts: Post-Tax Account QVEC Account TRASOP Account ESOP Account Rollover Account Former Matching Contribution Account Pay Based Account Matching Account Catch-up Account Pre-Tax Account Special Account.

• Subject to the legal limit described in (c) below, the maximum a Participant may borrow, including the outstanding balance of existing Plan loans, is fifty percent (50%) of vested balance of the following Accounts: Pre-Tax Account Catch-up Account Special Account Matching Account Former Matching Contribution Account ESOP Account TRASOP Account Rollover Account and Post-Tax Account.

• Subject to the legal limit described in (c) below, the maximum a Participant may borrow, including the outstanding balance of existing Plan loans, is fifty percent (50%) of vested balance of the following Accounts: Pre-Tax Account Catch-up Account Special Account Matching Account Pay Based Account Former Matching Contribution Account ESOP Account TRASOP Account Rollover Account and Post-Tax Account.

• When requesting a withdrawal, any withdrawal amount shall come only from his or her Accounts, in the following priority order of Accounts: Post-Tax Account QVEC Account TRASOP Account ESOP Account Rollover Account Former Matching Contribution Account Matching Account Catch-up Account Pre-Tax Account Special Account.

• When requesting a withdrawal, any withdrawal amount shall come only from his or her Accounts, in the following priority order of Accounts: Post-Tax Account QVEC Account TRASOP Account ESOP Account Rollover Account Former Matching Contribution Account Effective as of January 1, 2000, Pay Based Account.

More Definitions of TRASOP Account

TRASOP Account which means a Participant's interest in the Plan's assets composed of the Parker Drilling Company Employee Stock Ownership Plan amount allocated under the Plan, as of January 1, 1999, if any (as identified by the Committee), plus all income and gains credited to, and minus all losses, expenses, withdrawals and distributions charged to, such Account.

TRASOP Account which means a Participant's interest in the Plan's assets composed of an amount allocated from the Whitman Plan on and after January 1, 1998, if any, (as identified by the Administrator) plus all income and gains credited to, and minus all losses, expenses, withdrawals and distributions charged to, such Account.

TRASOP Account which means a Participant's interest in the Plan's assets composed of the Parker Drilling Company Employee Stock Ownership Plan amount allocated under the Plan, as of January 1, 1999,

TRASOP Account means that portion of the Participant’s Account that is attributable to the merger of the Company’s TRASOP Plan into the Plan, as adjusted for subsequent investment gains, losses, income and expenses. A Participant shall be at all times vested in his TRASOP Account.

TRASOP Account means that portion of the Participant's Account Balance that is attributable to the merger of the Company's TRASOP Plan into this Plan, as adjusted for subsequent investment gains, losses, income and expenses. A Participant shall be at all times vested in his TRASOP Account Balance.

TRASOP Account which means a Participant’s interest in the Plan’s assets composed of the amount allocated under the Plan as of the Effective Date, if any (as identified by the Administrator), including amounts allocated from the ▇▇▇▇▇▇▇ Corporation Tax Reduction Act Stock Ownership Plan, if any, which continue to be accounted for under the Plan consistent with the former provisions of the Plan (as identified by the Administrator), plus all income and gains credited to, and minus all losses, expenses, withdrawals and distributions charged to, such Account. With respect to an Alternate Payee or Beneficiary, references to Accounts will be deemed to be references to all or that portion of a Participant’s Catch-up Account, ESOP Account, Former Matching Contribution Account, Matching Account, Pay Based Account, Post-Tax Account, Pre-Tax Account, QVEC Account, Rollover Account, Special Account and TRASOP Account which, under the terms of the Plan, has been allocated to an Account maintained for such Alternate Payee or Beneficiary, plus all income and gains credited to, and minus all losses, expenses and withdrawals charged to, such Account. References herein to Accounts will also be deemed to include each of a Participant’s Accounts and references herein to an Account will be deemed to include any or each of the Participant’s Accounts. Effective on and after August 5, 1999, a Participant’s Accounts will be reduced by the amounts allowed under Sections 401(a)(13)(C) and (D) of the Code for crimes against the Plan. Notwithstanding the above, each of the Accounts for each Hussmann Participant and Midas Participant shall be reduced to zero effective as of the date of transfer of liabilities and assets of such Accounts to the Hussmann Plan and Midas Plan, respectively.

TRASOP Account which means a Participant’s interest in the Plan’s assets composed of the amount allocated under the Plan as of the Effective Date, if any (as identified by the Administrator), including amounts allocated from the ▇▇▇▇▇▇▇