Executive’s ESU Account definition
Executive’s ESU Account means the record to be maintained by Company in which, promptly after the Independent Auditors determine the Net Income for a fiscal year, Company will record Executive’s Earnings Base for said fiscal year (i.e. a credit if the Net Income was positive, or a debit if the Net Income was negative).
Examples of Executive’s ESU Account in a sentence
Pursuant to Article 3 of the Prior Agreement, Company agreed, as of January 1, 2000, to credit Executive’s ESU Account with an amount equal to the Solvay Accumulated Earnings Share Amount, in consideration of which Executive agreed that the Solvay ESU Agreement was terminated and of no force or effect, and that Solvay has no further obligation or liability to Executive thereunder.