Employer Shares definition

Employer Shares or "Shares" means securities which constitute "employer securities" under Section 409(l) of the Code and "qualifying employer securities" under Section 4975(e)(8) of the Code and Section 407(d)(5) of ERISA.
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Employer Shares means shares of common stock of Johnson & Johnson.
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Employer Shares means shares of common stock of Johnson & Johnson, or shares of convertible preferred stock of Johnson & Johnson (including fractional shares) which qualify as an employer security under Code Section 409(l). Except as required by Code Section 409(h) and by Treasury Regulation sections 54.4975‑7(b)(9), (10), or as otherwise required or permitted by Code Section 409(l) or other applicable law, no Employer Shares that were acquired through an Acquisition Loan may be subject to a put, call or other option, or buy‑sell or similar arrangement while held by, and when distributed from, the Plan, whether or not the Plan is an employee stock ownership plan, within the meaning of Code Section 4975(e)(7) at that time.
Sample 1

Examples of Employer Shares in a sentence

  • The provisions of this paragraph (iv) shall apply in the event a tender offer or exchange offer for Employer Shares is commenced by a person or persons (hereinafter, a “tender offer”), including, but not limited to, a tender offer or exchange offer within the meaning of the Securities Exchange Act of 1934, as from time to time amended and in effect.

  • Each Member and Beneficiary is hereby designated as a named fiduciary with respect to the decision whether to tender or exchange certain Employer Shares, as follows.

  • The ESOP component of the Plan is designed to invest primarily in Employer Shares.

  • Upon timely receipt of such directions, the Trustee shall on each such matter vote as directed the number of Employer Shares (including fractional shares) which are subject to such Member’s or Beneficiary’s directions, and the Trustee shall have no discretion in such matter.

  • If the Trustee does not receive timely instructions from a named fiduciary as to the manner in which to respond to such a tender offer, the Trustee shall not tender or exchange any of the Employer Shares (including fractional shares) which are subject to such named fiduciary’s direction, and the Trustee shall have no discretion in such matter.

  • The Trustee shall, separately, in the case of each of the Employer Shares, vote the whole and fractional allocated Employer Shares for which it has not received direction in the same proportion as the directed shares of such allocated Employer Shares are voted.

  • The Trustee shall have no discretion or authority to sell, exchange or transfer any Employer Shares pursuant to such tender offer except to the extent, and only to the extent, provided in this Plan or the Certificate of Designation for the Employer Shares.

  • Any securities or other property received by the Trustee as a result of having tendered Employer Shares after a tender offer shall be held, and any cash so received shall be held, in the account or investment fund from which the corresponding shares were tendered.

  • The Trustee shall vote Employer Shares attributable to the proportionate value in each Member’s Account in accordance with directions of each Member to whose Account such proportionate value has been credited to the extent of his share interest (which shall include fractional as well as whole shares) therein.

  • At least 30 days prior to the commencement of any calendar quarter in a Plan Year, a Director may elect to have the Employer credit to the Director's Account an amount equal to any whole percentage or dollar amount (or shares of stock of the Employer ("Shares") to the extent that the Base Retainer would otherwise be paid in Shares) of the Director's Base Retainer, if any, to be earned for the balance of such Plan Year.

Related to Employer Shares

  • Employer Stock means securities of the Employer which constitute "qualifying employer securities" with respect to the Plan within the meaning of Section 407 of ERISA.

  • Employer Securities means common stock, any other type of stock or any marketable obligation (as defined in Section 407(e) of ERISA) issued by the Company or any Affiliate of the Company; provided, however, that if Employer Securities are purchased with borrowed funds, Employer Securities, to the extent required by Section 4975 of the Code, shall only include

  • Company Stock means, collectively, the Company Common Stock and the Company Preferred Stock.

  • Company Stock Fund means a hypothetical investment fund pursuant to which Deferred Stock Units are credited with respect to a portion of an Award subject to an Election, and thereafter until (i) the date of distribution or (ii) the effective date of a Diversification Election, to the extent a Diversification Election applies to such Deferred Stock Units, as applicable. The portion of a Grantee’s Account deemed invested in the Company Stock Fund shall be treated as if such portion of the Account were invested in hypothetical shares of Common Stock or Special Common Stock otherwise deliverable as Shares upon the Vesting Date associated with Restricted Stock or Restricted Stock Units, and all dividends and other distributions paid with respect to Common Stock or Special Common Stock were held uninvested in cash and credited with interest at the Applicable Interest Rate as of the next succeeding December 31 (to the extent the Account continues to be deemed credited in the form of Deferred Stock Units through such December 31).

  • Plan Shares means shares of Common Stock held in the Trust which are awarded or issuable to a Participant pursuant to the Plan.

  • Company Stock Account means the account established and maintained in the name of each Participant or Beneficiary to reflect his share of the Trust Fund invested in Company Stock.

  • Stock Fund means that portion of the Trust Fund consisting of Stock.

  • Company Stock Options shall have the meaning given to such term in Section 3.3(a) hereof.

  • Employer Contributions means all amounts paid into ASRS by an

  • Company Stock Option means any option to purchase Company Common Stock granted under any Company Stock Plan.

  • Sponsor Shares shall have the meaning given in the Recitals hereto.

  • Employer Contribution means the amount paid by an employer, as determined by the employer rate, including the normal and deficiency rates, contributions, and funds wherever used in this chapter.

  • Participating Shares means shares that entitle their holders to participate without limitation in distributions.

  • Elective Deferrals are all Salary Reduction Contributions and that portion of any Cash or Deferred Contribution which the Employer contributes to the Trust at the election of an Eligible Employee. Any portion of a Cash or Deferred Contribution contributed to the Trust because of the Employee's failure to make a cash election is an elective deferral. However, any portion of a Cash or Deferred Contribution over which the Employee does not have a cash election is not an elective deferral. Elective deferrals do not include amounts which have become currently available to the Employee prior to the election nor amounts designated as nondeductible contributions at the time of deferral or contribution.

  • Vested Shares means "Vested Shares" as defined in the Award Agreement.

  • Qualified Matching Contributions means Matching Contributions which are immediately nonforfeitable when made, and which would be nonforfeitable, regardless of the age or service of the Employee or whether the Employee is employed on a certain date, and which may not be distributed, except upon one of the events described under Section 401(k)(2)(B) of the Code and the regulations thereunder.

  • Deferred Shares means an award made pursuant to Section 7 of this Plan of the right to receive Common Shares at the end of a specified Deferral Period.

  • Small employer carrier means any carrier that offers health benefit plans covering eligible employees of one or more small employers in this state.

  • Unvested Shares means "Unvested Shares" as defined in the Award Agreement.

  • Employer Matching Contributions means the Employer matching contributions made to the Trust Fund pursuant to Article V (Employer Matching Contributions).

  • Elective Deferral Account means the account established hereunder to which Elective Deferrals (including a separate accounting for Catch-Up Contributions) are allocated. Amounts in the Participant's Elective Deferral Account are nonforfeitable when made and are subject to the distribution restrictions of Section 12.2(e). The Elective Deferral Account may consist of the

  • Qualified Matching Contribution means any employer contribution allocated to an Eligible Employee's account under any plan of an Employer or a Related Company solely on account of "elective contributions" made on his behalf or "employee contributions" made by him that is a qualified matching contribution as defined in regulations issued under Code Section 401(k), is nonforfeitable when made, and is distributable only as permitted in regulations issued under Code Section 401(k).

  • Deferred Stock Account means a bookkeeping account maintained by the Company for a Participant representing the Participant's interest in the shares credited to such Deferred Stock Account pursuant to Paragraph 7 hereof.

  • Employer Account The Participant's Matching 401(k) Contributions Account, Matching Thrift Contributions Account, Employer Contributions Account, Qualified Matching Contributions Account and Qualified Nonelective Contributions Account, as the case may be.

  • Employer/Owner means the DAKSHIN HARYANA BIJLI VITRAN NIGAM and the legal successors in title to the Employer/Owner but not (Except with the consent of the Contractor) any assignees of the Employer/Owner.

  • Restricted Shares shall have the respective meanings set forth in Section 2.14.