ESOP Feature definition

ESOP Feature means the portion of the Plan, as described in Article I, that has been designated as an “employee stock ownership plan” within the meaning of Code Section 4975(e)(7).
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ESOP Feature means that portion of the Plan which constitutes an employee stock ownership plan as described in Section 4975(e)(7) of the Code, which portion of the Plan is designed to invest primarily in qualifying employer securities.
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ESOP Feature means that portion of the Plan consisting of an employee stock ownership plan intended to satisfy the requirements of Section 4975(e)(7) of the Code, as set forth in Article XII of the Plan.
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Examples of ESOP Feature in a sentence

  • The ESOP Feature is intended to qualify as a stock bonus plan under Code Section 401(a) and as an employee stock ownership plan under Code Section 4975(e)(7).

  • Conclusões: Conclui-se que a natureza das empresas modernas exige que as instituições educacionais e acadêmicas preparem os estudantes com um conjunto de habilidades diferentes daquelas adotadas pelo antigo sistema educacional.

  • As provided in Section 3 and Section 5 of Article V, such contributions may be transferred later from the Non-ESOP Feature to the ESOP Feature.

  • The ESOP Account shall be established under the ESOP Feature of the Plan.

  • To the extent required by the Code and Treasury Regulations, the limitations set forth in Section 2 shall be applied separately to each of the Non-ESOP Feature and the ESOP Feature.

  • Upon the sending of any such notice of redemption, the Company shall become obligated to redeem on the applicable Redemption Date all such Series A Preferred Shares called for redemption and the Company shall take all steps necessary to pay the Redemption Price on the Redemption Date.

  • Shares of Common Stock in the ESOP Feature held or distributed by the Trustee may include such legend restrictions on transferability as the Company may reasonably require in order to assure compliance with applicable federal and state securities laws.

  • Effective January 1, 2002, the Plan consists of the ESOP Feature and the Non-ESOP Feature.

  • As provided in Section 3 and Section 5 of Article V, such contributions may be transferred later from the Non-ESOP Feature and ESOP Feature.

  • The Bureau’s approval means that the institution and its operation comply with minimum standards established under law for occupational instruction by Private Postsecondary Education Institutions.


More Definitions of ESOP Feature

ESOP Feature means the portion of the Plan that constitutes an employee stock ownership plan within the meaning of Code Section 4975(e)(7), as provided in this Appendix A. The ESOP Feature consists of the portion of the assets of the Plan that are invested in the Worthington Industries, Inc. Common Stock Fund.
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ESOP Feature means the portion of the Plan described in Article 16A, which is comprised of the portion of the Plan that is invested in the Company Stock Fund and the Plan provisions uniquely applicable to the ESOP Feature.”
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ESOP Feature means that portion of the Plan consisting of the ESOP Fund which constitutes an employee stock ownership plan as defined in Code Section 4975(e)(7).
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Related to ESOP Feature

  • 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).

  • Multiple Source Award means an award of an indefinite quantity contract for one or more similar services, items of tangible personal property or construction to more than one Offeror.

  • 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.

  • discretionary use means the use of land or a building provided for in this Bylaw for which a development permit may be issued upon an application having been made;

  • Feature means a distinguishable software function included in the Software and as further detailed in Schedule 3 and the Product Handbook. Various Features may be grouped together in Feature Packs.

  • Nonqualified deferred compensation plan means a compensation plan described in Section 3121(v)(2)(C) of the Internal Revenue Code.

  • Salary reduction plan means a benefit plan whereby state and

  • 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.

  • Deferred Plan means a trust governed by a registered retirement savings plan, registered retirement income fund, registered education savings plan or tax-free savings account.

  • Prior Plan means the coverage provided on a group or group-type basis by the group insurance policy, benefit plan or service plan that was terminated on the day before the Effective Date of the Plan and replaced by the Plan.

  • 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.

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

  • ESOP means a Plan that is intended to satisfy the requirements of Section 4975(e)(7) of the IRC.

  • 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.

  • Prior Plan Award means an award outstanding under the Prior Plan as of the Effective Date.

  • Non-Employee Directors means that term as defined in Rule 16b-3 under the 1934 Act.

  • Qualified Plan means a Pension Plan that is intended to be tax-qualified under Section 401(a) of the IRC.

  • Section 409A Deferred Compensation means compensation provided pursuant to an Award that constitutes nonqualified deferred compensation within the meaning of Section 409A.

  • Replacement Options has the meaning ascribed thereto in Section 1.1 of the Plan of Arrangement;

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

  • 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

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

  • Investment Options means the investment options, as determined from time to time by the Committee, used to credit earnings, gains and losses on Account balances.

  • 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.

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