ESOP Committee definition

ESOP Committee. The committee appointed by the Board as the Plan Administrator to, among its other duties: (i) convey the directions of Participants to the Trustee as to the voting or tender of shares of Employer Stock under Article V that are allocated to Participants' accounts and to notify the Trustee as to the voting of allocated shares of Employer Stock for which it does not receive timely directions from Participants and the tender of unallocated shares of Employer Stock in accordance with Article V; (ii) direct the Trustee as to the acquisition or disposition of Employer Stock, including the number of shares to purchase, the price of such shares and when to acquire such shares as provided in Section 8.2; and (iii) direct the Trustee to borrow funds to acquire Employer Stock, including the terms, amount and timing of any exempt loan. In the absence of the appointment of an ESOP Committee, the Company shall assume such responsibilities, except as otherwise restricted in the Plan. If the ESOP Committee (or any committee which is carrying out any or all of the functions of the ESOP Committee) decides that it cannot perform the functions required under Article V with respect to the voting or tender of shares of Employer Stock because of restrictions under ERISA or the Code, the Board shall designate a person, committee or entity to perform such functions.
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ESOP Committee means the committee appointed to administer the Plan pursuant to Section 11.
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ESOP Committee means The Elder-Beerman Stores Corp. Profit Sharing and Stock Ownership Plan Administration Committee.
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Examples of ESOP Committee in a sentence

  • Stumpf as the sole member of the ESOP Committee, effective April 29, 2009.

  • On January 27, 2009, the Board adopted the following resolutions (the “January 2009 Resolutions”) amending the ESOP Board Resolutions to allow the ESOP Committee to establish the voting rights of any series of ESOP Preferred Stock: RESOLVED that the resolution set forth in the [ESOP Board Resolutions] under the caption “Voting Rights of ESOP Preferred Stock” is hereby deleted in its entirety.

  • On January 27, 2009, the Board adopted the following resolutions (the “January 2009 Resolutions”) amending the ESOP Board Resolutions to allow the ESOP Committee to establish the voting rights of any series of ESOP Preferred Stock: RESOLVED that the resolution set forth in the ESOP Board Resolutions under the caption “Voting Rights of ESOP Preferred Stock” is hereby deleted in its entirety.

  • Stumpf as the sole member of the ESOP Committee, effective April 25, 2007.

  • Sloan as the sole member of the ESOP Committee, effective October 12, 2016.

  • The ESOP 2004, approved by the shareholders on September 19, 2005 provides for grant of 4,057 thousand options to employees of the Company by the ESOP Committee at an exercise price of Rs. 4 each, representing one share for each option upon exercise.

  • He is a member of the Audit Committee, Stakeholders Relationship Committee, Nomination, Remuneration and ESOP Committee, Allotment Committee, Fund Raising Committee and Restructuring Committee.

  • The options would be issued at an exercise price, which would be at a 20% discount to the latest available closing market price (at a stock exchange as determined by the Remuneration & ESOP Committee) on the date prior to the date on which the Remuneration & ESOP Committee finalises the specific number of options to be granted to the employees.

  • If, and to the extent, Shares acquired with proceeds of the Trust Loan, held in the Trust and not yet allocated to participant accounts are sold, then, to the extent allowable by the Exempt Loan Rules and applicable law, the Trustee, at the direction of the ESOP Committee administering the ESOP (the "Committee"), may apply the proceeds thereof toward the repayment of the Trust Loan.

  • The ESOP Committee shall comprise of any three Directors of the Board.


More Definitions of ESOP Committee

ESOP Committee means the committee appointed to administer the Plan pursuant to Section 11 thereof.
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ESOP Committee means the employee stock option plan committee of the Board of Directors described in Article 196 (2) (g);
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ESOP Committee means the Person or committee member appointed by the Board to serve on the ESOP Committee until such time such Person or member resigns, dies, or his or her replacement is appointed by the Board, and the ESOP Committee shall be responsible for benefit administration, including any representative (designated in writing as such) or designee thereof authorized to act on behalf of such ESOP Committee.
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Related to ESOP Committee

  • Plan Committee means a committee of two or more directors appointed by the Board to administer the Plan.

  • Administrative Committee means the committee in charge of Plan administration, as described in Article VII.

  • Benefits Committee means the Employee Benefits Committee of Textron.

  • Sub-Committee means a committee of a committee created by the board.

  • Retirement Committee means a committee consisting of the Company’s Vice President of Human Resources, the Director of HR Operations and the Compensation & Benefits Manager.

  • Policy Committee means the body created by this Agreement to approve the budget for the Consortium, to develop cooperative approaches regarding countywide GIS and the concerns of each party, and to perform such other functions as are set forth in this Agreement.

  • Investment Committee means the committee in charge of investment aspects of the Plan, as described in Article VII.

  • Appeal Committee means the appeal committee established by the Council in terms of section 12(3)(a);

  • Selection Committee means a committee of individual(s) who evaluate and rank proposals; conduct negotiations; and makes a contract award recommendation to the District and its respective Committees.

  • CSR Committee means the Corporate Social Responsibility Committee of the Board referred to in section 135 of the Act.

  • P&T committee means a committee of the hospital composed of physicians, pharmacists, and other health professionals that evaluates the clinical use of drugs within the hospital, develops policies for managing drug use and administration in the hospital, and manages the hospital drug formulary system. “Physician” means a person who is currently licensed in Iowa to practice medicine and surgery, osteopathic medicine and surgery, or osteopathy. A physician who executes a written protocol with an authorized pharmacist shall supervise the pharmacist’s activities involved in the overall management of patients receiving medications or disease management services under the protocol. The physician may

  • Plan Administrator means the plan administrator described in Article 8.

  • Nomination Committee means the nomination committee of the Board established in accordance with Article 114;

  • Transition Committee shall have the meaning set forth in Section 2.14.

  • Management Committee means in the case of a Competition which is an unincorporated association, the management committee elected to manage the running of the Competition and where the Competition is incorporated it means the Board of Directors appointed in accordance with the articles of association of that company.

  • Banning Committee means a Committee constituted for the purpose of these guidelines by the competent authority. The members of this Committee shall not, at any stage, be connected with the tendering process under reference.

  • Oversight Committee means the committee established to monitor the overall implementation of the Canada-Ontario-AMO-Toronto Agreement.

  • Review Committee or “Committee” means a committee established pursuant to rule Chapter 67-60, F.A.C.

  • Evaluation Committee means a body appointed to perform the evaluation of Offerors’ proposals.

  • the Committee means the Committee of Management of the Association referred to in rule 10 (1);

  • Compensation Committee means the Compensation Committee of the Board.

  • Nominating Committee means the nominating committee of the board of directors of the Company established pursuant to the Articles, or any successor committee.

  • Campaign committee means the committee designated by a candidate to receive all contributions

  • Appeals Committee means a Committee or Tribunal duly appointed by by-law to conduct hearings under this by-law;

  • Peer review committee means one or more persons acting in a peer review capacity who also serve as an officer, director, trustee, agent, or member of any of the following:

  • Board Committee means those individual Directors who have been appointed by the Board of Directors with the powers and responsibilities specified in Article V and to which has been delegated any fiduciary responsibilities of the Board of Directors with respect to the Plan.