ESOP Employer Contribution Account definition

ESOP Employer Contribution Account means the separate account maintained for each Participant who was a participant in the ESOP consisting of the contributions made by the Employers as described in Sections 2.02(a), 2.02(b), 2.02(c) and 5(b)(i)(A) of the ESOP as in effect on and prior to February 28, 1995, plus earnings and/or losses (including appreciation and depreciation) credited to such contributions under the ESOP and credited to such Account hereunder. Any amounts credited to a Participant’s ESOP Employer Contribution Account shall at all times, for all purposes and in all respects be fully vested and nonforfeitable.
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ESOP Employer Contribution Account means the separate account maintained for each Participant who was a participant in the ESOP consisting of the contributions made by the Employers as described in Sections 2.02(a), 2.02(b), 2.02(c) and 5(b)(i)(A) of the ESOP as in effect on and prior to February 28, 1995, plus earnings and/or losses (including appreciation and depreciation) credited to such contributions under the ESOP and credited to such Account
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Examples of ESOP Employer Contribution Account in a sentence

  • This portion, together with the vested portion of the ESOP Employer Contribution Account, ESOP Employer Match Account, 401(k) Company Match Account and Personal Investment Accounts determined in accordance with the vesting schedule set forth in 9.2.2 and 9.2.3 below, and Prior Plan Accounts determined in accordance with the vesting schedule applicable to such Accounts shall be distributed at the same time and same manner as described in Article X.

  • A Participant shall have a Company Contribution Account, a Company Matching Contribution Account, and an Employee Elective Contribution Account, and, if applicable, an ESOP Employer Contribution Account and/or an ESOP Employee Contribution Account and/or a Rollover Account, and, where appropriate, an Alternate Payee shall have a QDRO Account.

  • If distribution of all or any part of a benefit is deferred or delayed for any reason, shares credited to the Participant’s ESOP Employer Contribution Account or ESOP Matching Account shall continue to be held by the Trustee and invested in shares of Company Stock.

  • The amount of the withdrawal may not exceed the Participant’s vested interest in the Participant’s Account as of the Valuation Date of the distribution reduced by the value of the Participant’s ESOP Employer Contribution Account, ESOP Employer Match Account, 401(k) Company Match Account, Personal Investment Account and Loan Account.

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  • As of any Valuation Date prior to Termination of Employment, a Participant may make withdrawals from the Participant’s vested Accounts in the Plan (excluding the ESOP Employer Contribution Account, ESOP Employer Match Account, 401(k) Company Match Account, QNEC Accounts and the Personal Investment Account) but only for the purpose of enabling the Participant to meet a financial hardship.

  • The minimum amount that may be withdrawn under this provision is the lesser of $1,000 or the entire vested Account balance (excluding the ESOP Employer Contribution Account, ESOP Employer Match Account, 401(k) Company Match Account, Personal Investment Account and Loan Account).

  • A Participant who has attained age fifty-nine and one-half (59 1⁄2) may withdraw all or any portion of the Participant’s vested Account in the Plan (excluding the Participant’s ESOP Employer Contribution Account, ESOP Employer Match Account, 401(k) Company Match Account, Personal Investment Account and Loan Account) for any reason by giving the Company or the Trustee notice of the Participant’s election to make such a withdrawal in a form acceptable to the Company or the Trustee.

  • An ESOP Employer Contribution Account means the record of amounts attributable to Non- Matching Allocations or Minimum Non-Matching Allocations under the Medtronic, Inc.

  • If a Participant has received some but not all of the vested portion of the Participant’s Account, and the Participant subsequently becomes eligible to share in contributions of the Company, a separate ESOP Employer Contribution Account, ESOP Employer Match Account, and 401(k) Company Match Account shall be established for the Participant for each subsequent period of eligibility.

Related to ESOP Employer Contribution Account

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • Matching Contribution Account means the separate, individual account established on behalf of a Participant to which the Matching Contributions made on such Participant's behalf are credited, together with all earnings and appreciation thereon, and against which are charged any withdrawals, loans and other distributions made from such account and any losses, depreciation or expenses allocable to amounts credited to such account.

  • Company Contribution Account means (i) the sum of the Participant’s Company Contribution Amounts, plus (ii) amounts credited or debited to the Participant’s Company Contribution Account in accordance with this Plan, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant’s Company Contribution Account.

  • Rollover Contribution Account means the separate Account maintained for a Member to record such Member's share of the Trust Fund attributable to any Rollover Contribution made to the Plan on his behalf.

  • 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.

  • Contribution Account means an account, or accounts, into which the Accountholder and employer contributions are deposited by the TPA, and from which HSA dollars are swept into the Cash Account.

  • ESOP Account means a Participant’s account to which are credited Matching Contributions made to the Plan after March 31, 1989, and earnings and losses thereon.

  • Matching Account means the account maintained on the books of the Employer for the purpose of accounting for the Matching Amount and for the amount of investment return credited thereto for each Participant pursuant to Article V.

  • 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 Contributions means all amounts paid into ASRS by an

  • Deferred Compensation Account means the account maintained with respect to each Participant under the Plan. The Deferred Compensation Account shall be credited with Participant Deferral Credits and Employer Credits, credited or debited for deemed investment gains or losses, and adjusted for payments in accordance with the rules and elections in effect under Section 8. The Deferred Compensation Account of a Participant shall include any In-Service or Education Account of the Participant, if applicable.

  • Profit Sharing Account means any one of the accounts so designated and provided for in Section 6.01.

  • Company Matching Account means (i) the sum of all of a Participant's Annual Company Matching Amounts, plus (ii) amounts credited in accordance with all the applicable crediting provisions of this Plan that relate to the Participant's Company Matching Account, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant's Company Matching Account.

  • Voluntary Contribution Account means the account established and maintained by the Administrator for each Participant with respect to his total interest in the Plan resulting from the Participant's nondeductible voluntary contributions made pursuant to Section 4.12.

  • 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

  • Matching Contribution means an Employer contribution made to this or any other Defined Contribution Plan on behalf of a Participant on account of an Employee Contribution made by such Participant, or on account of a Participant's Employee Elective Deferral, under a plan maintained by the Employer.

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

  • Rollover Account means the account established hereunder to which amounts transferred from a qualified plan or individual retirement account in accordance with Section 4.6 are allocated.

  • 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).

  • Matching Contributions means contributions made by the Employer on account of an "eligible Participant's" Elective Deferrals.

  • 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.

  • Retirement Account means any retirement or pension fund or account, listed in Iowa Code section 627.6(8)“f” as exempt from execution, regardless of the amount of contribution, the interest generated, or the total amount in the fund or account.

  • Company Matching Contributions means any contributions made to the Company Matching Account of a Participant by a Participating Employer as provided for in Section 4.02.

  • Deferral Account means the Company's accounting of the Director's accumulated Deferrals plus accrued interest.

  • Rollover Contribution means any rollover contribution to the Plan made by a Participant as may be permitted under Article V.

  • Nonelective Contribution means an amount contributed by a participating