ESOP Allocation definition

ESOP Allocation means the number of shares allocable to the individual account of a participant in the ESOP pursuant to Article IV of the ESOP.
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ESOP Allocation means the portion of each Participant's Accounts that are invested by the Trustee in shares of Company Stock pursuant to the direction of the Participant under Section 3.07 and any Matching Contributions made by the Company pursuant to Section 4.01(b) that are either made in the form of Company Stock or cash, which is used to acquire shares of Company Stock. ESOP Allocations, if any, are intended to constitute an employee stock ownership plan within the meaning of Code Section 4975(e)(7) and the Trustee may invest up to 100% of the assets of all ESOP Allocations in shares of Company Stock in accordance with the terms of Article XIV.
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ESOP Allocation means a percentage based on the percentage of a Recently Converted Thrift’s value typically given to senior officers under an Employee Stock Ownership Plan, according to Office of Thrift Supervision guidelines and industry practices.
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Examples of ESOP Allocation in a sentence

  • A salaried employee of the Company and/or the Bank who is eligible to receive the benefit of an ESOP Allocation, the total amount of which is reduced by reason of the limitation on the amount of compensation which may be taken into account for the purpose of calculating allocations pursuant to Sections 401(a)(17), 414 and 415 of the Code shall be eligible to be selected by the Boards of Directors of the Company and the Bank to participate in the Plan.

  • Except as otherwise expressly provided herein, all terms and conditions of the ESOP applicable to an ESOP Allocation will also be applicable to an allocation of Stock Units pursuant to this Plan.

  • ARTICLE THREE SUPPLEMENTAL ESOP ALLOCATIONS A Participant in the Plan shall receive a Supplemental ESOP Allocation of Stock Units each year at the same time that allocations of Company Common Stock related to Company Contributions (as such term is defined in Section 4.01 of the ESOP) are made pursuant to Section 5.04 of the ESOP.

  • AWI shall cause the ESOP to be amended, and shall cause the ESOP to be administered in such a manner so that each AO Employee who participates in the ESOP shall receive thereunder an allocation of such number of shares of capital stock of AWI as he would have received had he been a participant through and until the last day of the ESOP Allocation Period (as defined in the ESOP) in which the Closing Date occurs.


More Definitions of ESOP Allocation

ESOP Allocation means an allocation to the individual account of a participant in the ESOP pursuant to Article V of the ESOP.
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ESOP Allocation means the number of shares allocable to the individual account of a participant in the ESOP pursuant to Article 5 of the ESOP.
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