ESOP Component definition

ESOP Component means the employee stock ownership plan component of the ESOP.
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ESOP Component has the meaning set forth in the ESOP.
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ESOP Component. With respect to any Valuation Date on or after January 1, 2019, that portion of the Trust that is invested in Company Stock. Elective contributions made pursuant to Section 3, Rollover Contributions and transfers accepted pursuant to Section 4, and Company contributions made pursuant to Section 5 shall be deemed to be held in the ESOP Component as of the Valuation Date such contributions or amounts are used to acquire Company Stock pursuant to a Participant’s election under Section 7. The ESOP Component is intended to constitute an employee stock ownership plan (“ESOP”) within the meaning of Code Section 4975(e)(7) and Treasury Regulation Section 54.4975-11(a)(5), as well as a qualified stock bonus plan and a qualified cash or deferred arrangement, within the meaning of Code Sections 401(a) and 401(k)(2).
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Examples of ESOP Component in a sentence

  • Prior to the Closing Date, the ESOP received a favorable determination letter from the IRS that the ESOP is tax-qualified and tax exempt under Sections 401(a) and 501(a), respectively, of the Code and that the ESOP Component is an “employee stock ownership plan”, within the meaning of Section 4975(e)(7) of the Code.

  • Prior to the Closing Date, the ESOP received a favorable determination letter from the IRS that the ESOP is tax-qualified and tax exempt under Sections 401(a) and 501(a), respectively, of the Code and that the ESOP Component is an "employee stock ownership plan", within the meaning of Section 4975(e)(7) of the Code.

  • The offer made by Borrower to the Participants to transfer portions of their non-ESOP Component accounts under the ESOP and 401(a) Plan account balances to the ESOP Component was carried out in full compliance with all applicable federal and state securities laws.

  • The provisions of Section 11, concerning the payment of benefits, shall apply equally to the ESOP Component and the Non-ESOP Component.

  • Participants may diversify the investment of amounts invested in the ESOP Company Stock Fund under the ESOP Component of the Plan by electing pursuant to Section 6.2(c)(ii)(C)(2) to invest such amounts in one of the other Investment Funds maintained under the Plan (other than the Non-ESOP Company Stock Fund).

  • Notwithstanding any other provision of the Plan to the contrary, to the extent that any distribution includes amounts that are invested in the ESOP Company Stock Fund under the ESOP Component of the Plan, a Participant may elect to receive such amounts in the form of shares of Company Stock.

  • The Company hereby establishes with the Trustee a trust fund consisting of amounts held under the Plan, and such earnings, profits, increments, additions and appreciation thereto and thereon as may accrue from time to time, other than those amounts attributable to the ESOP Component of the Plan.

  • The transfers of portions of the account balances of the Participants from the ESOP and 401(a) Plan to the ESOP Component will be completed in the manner set forth in the Prospectus and in compliance with all applicable laws.

  • The Prospectus contains a true and complete description of all of the material terms and conditions under which the Participants were provided an opportunity to direct the transfer to the ESOP Component of portions of their accounts balances under the ESOP and 401(a) Plan.

  • The transfers of portions of the account balances of the Participants from the ESOP and 401(a) Plan to the ESOP Component was completed in the manner set forth in the Prospectus and in compliance with all applicable laws.


More Definitions of ESOP Component

ESOP Component means, with respect to any Valuation Date on or after January 1, 2002, that portion of the Trust Fund that is invested in Employer Stock.
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ESOP Component as defined in the recitals to this Agreement. --------------
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ESOP Component means the employee stock ownership plan component of the ESOP. “ESOP Documentation” means the collective reference to (a) the Appleton Papers
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ESOP Component means the employee stock ownership plan component of the ESOP. “ESOP Documentation” means the collective reference to (a) the Appleton Papers Retirement Savings and Employee Stock Ownership Plan (Amended and Restated Effective as of January 1, 2009), (b) the Amended and Restated Trust Agreement for the Appleton Papers Inc. Employee Stock Ownership Trust, adopted April 1, 2013 and (c) all amendments, supplements or other modifications to any of the foregoing, all schedules, exhibits and annexes thereto and all agreements affecting the terms thereof or entered into in connection therewith.
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ESOP Component means the portion of the Plan consisting of Salary Deferral Matching Contribution Allocations Accounts, ESOP Contribution Accounts and Employee Voluntary Matching Contribution Allocations Accounts and any other amounts specified in Section 3.7 which, together, shall be deemed to constitute an employee stock ownership plan as defined in Code Section 4975(e)(7) and ERISA Section 407(d)(6), provided that the Columbia Money Purchase Pension Plan Accounts shall also be considered part of the ESOP Component such that the assets thereof may be invested by Participants in Company Stock to any extent desired.
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