ESOP Fund definition

ESOP Fund means that portion of the Trust Fund to which are allocated assets held in Company Stock. The ESOP Fund was effective as of January 1, 2008.

ESOP Fund means the investment fund which consists of BellSouth Shares which have been released from the ESOP Loan Suspense Account for periods beginning after June 30, 1989 or which otherwise have been purchased with Matching Contributions for periods beginning after December 31, 1989, or both, the investment earnings on such BellSouth Shares and any cash set aside to purchase BellSouth Shares and the investment earnings thereon, for periods beginning after December 31, 1989.

ESOP Fund means that portion of the Fund consisting of Common Shares acquired with the proceeds of a Stock Obligation, contributions made by the Employer as provided for in Plan Section 8.4, and assets previously held in the TRAESOP and the PAYSOP before their merger into the Plan, together with all assets attributable to the foregoing. The ESOP Fund shall include Common Shares contributed by the Employer to the Plan for the purpose of satisfying any Employer ESOP Contribution under Article VIII. The ESOP Fund shall include the Eversource Common Shares Fund with respect to the portion thereof that is attributable to the accounts of Participants who are or were employed by the Company or by a Participating Company that is a member of the Company’s “controlled group of corporations” (as defined under Code Section 409(l)(4)). The ESOP Fund is intended to constitute a stock bonus “employee stock ownership plan” as defined in Code Section 4975(e)(7) and shall be invested primarily in Employer Securities. Effective November 25, 2013, the ESOP Fund merged into the Eversource Common Shares Fund.

Examples of ESOP Fund in a sentence

• The Disney Stock ESOP Fund is valued at the year end quoted market price of Company common stock.

• The balances in the Disney Stock Non ESOP Fund will be automatically transferred to the Disney Stock ESOP Fund annually.

• The Disney Stock Non ESOP Fund is used for employee and employer contributions that are directed by the participant to be invested in Company common stock and is also valued at the year end quoted market price of Company common stock.

• A Participant, Inactive Participant, Beneficiary or Alternate Payee may perform an Exchange through a Real-Time Trade of all or any portion of his Accounts invested in that Subpart of Part D designated as the ESOP Fund to another Part of the Fund (or perform multiple Exchanges from Part D among other Parts of the Fund), other than the Subpart of Part D forming part of the Profit-Sharing Fund.

• Dividends on the ESOP may be distributed or passed through to Participants who are invested in the ESOP Fund.

More Definitions of ESOP Fund

ESOP Fund means the trust fund maintained by the Trustee for the Plan and referred to in Section 10.6.

ESOP Fund means that portion of the Plan which consists of Company Stock, and any income thereon. The ESOP Fund shall include all Company Stock contributed to or held under the Plan. The non-ESOP portion of the Plan shall consist of any assets of the Plan not maintained under the ESOP Fund.

ESOP Fund means the portion of the Trust Fund consisting of assets allocated to all Participants' ESOP Accounts, unallocated assets representing contributions under Section 3.03 and unallocated assets representing the proceeds of any Exempt Loan (the ESOP Suspense Subfund).

ESOP Fund means a separate fund maintained by the Trustee with respect to the ESOP Component of the Plan. A separate "ESOP Fund Account" shall be maintained for each Participant's interest in the ESOP Fund. With the exception of the Columbia Money Purchase Pension Plan Accounts, all or substantially all of this Fund shall be invested in Company Stock and Participants shall not be eligible to direct investment of the portion of their Account which is part of the ESOP Fund.

ESOP Fund means that portion of the Trust Fund to which are allocated assets attributable to all ESOP Accounts, contributions under Section 4.1 and the proceeds of any Exempt Loan.

ESOP Fund means that portion of the Plan which consists of Bank Stock, and any income thereon. The ESOP Fund shall include all Bank Stock in the Plan whether or not such Stock constitutes Leveraged Shares.

ESOP Fund. The amounts of the Trust Fund (attributable to ESOP --------- Contributions, and Employer Matching Contributions and Pre-Tax Contributions invested in the ESOP Fund pursuant to Section 6.2(e)) invested by the ESOP Trustee as an "employee stock ownership plan" (as defined in Section 407(d)(6) of the Act and Section 4975(e)(7) of the Code and the applicable regulations thereunder) established pursuant to ARTICLE SEVEN for the purpose of acquiring Employer Securities.