ESOP Plans definition
Examples of ESOP Plans in a sentence
Employee may not contribute any portion of any amount payable to Employee under this Agreement into FCFC’s 401(k) Plan nor will payment of any such amount generate any Employer contributions to the 401(k) and ESOP Plans.
The Employee may not contribute any percentage of the separation payment into FCFC's 401(k) Plan nor will payment of the separation amount generate any employer contributions to the 401(k) and ESOP Plans.
Maintain its existence as a trust and not ------------------------ terminate or permit the ESOP Trust Agreement or the ESOP Plan to be amended or modified except for changes that are required to be made in order for the Borrower to comply with ERISA or the Code and that do not in any way affect the ESOP Plan's status as an "employee stock ownership plan" within the meaning of Sections 401(a), 501(a), and 4975(e)(7) of the Code and Sections 54.4975-7 and 54.4975-11 of the Treasury Regulations.
Upon the Scheme becoming effective, the Demerged Company shall, if required, take necessary steps to modify the ESOP Plans in a manner considered appropriate and in accordance with the Applicable Laws, in order to enable the continuance of the same in the hands of the eligible employees who become employees of the Resulting Company, subject to the approval of the Stock Exchanges and the relevant regulatory authorities, if any under Applicable Laws.
Furnish to the Lender, as soon as possible and in ------------------ any event within five days after knowledge of the occurrence of each Event of Default or each act, condition, or event which, with the giving of notice or lapse of time or both, would constitute an Event of Default, the written statement of the ESOP Plan's Administration Committee setting forth details of such Event of Default or act, condition, or event and the action which the Borrower proposes to take with respect thereto.
Except for the Preferred Shares, and options granted under the Company’s ESOP Plans, there are no outstanding options, warrants, rights (including conversion or preemptive rights) or agreements, orally or in writing, for the purchase, redemption or acquisition from the Company of any shares of its share capital.
Mr. Soren Pihlman is the ESOP Plan's Trustee and has a▇▇ ▇▇▇▇▇▇▇▇▇ power and authority to act for and on behalf of the Buyer in authorizing, approving and consummating the transactions contemplated by the Transaction Documents, and to execute and deliver, for and on behalf of the Buyer, and to bind the Buyer to the terms of the Transaction Documents.