KSOP definition

KSOP has the meaning set forth in Section 6.1(n).

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KSOP means the Krispy Kreme Profit-Sharing Stock Ownership Plan, as it may be amended from time to time.

KSOP means Signature’s Employee Stock Ownership Plan and Trust effective April 1, 2015, as amended through the date hereof.

Examples of KSOP in a sentence

• In connection with Executive’s participation in the KSOP, Executive shall be entitled to receive employer-matching contributions equal to one-hundred percent (100%) of the first five percent (5%) of Executive’s base salary, payable in accordance with, and subject to, the provisions, terms and conditions of the KSOP.

• Upon termination of the Home KSOP, all affected participants shall become fully vested in their accounts under the Home KSOP determined in accordance with the terms of the Home KSOP and applicable law.

• KTYB and SYBT shall take any and all actions as may be required to permit the Continuing Employees who are then actively employed to make rollover contributions to the SY Bank KSOP of “eligible rollover distributions” (with the meaning of Section 401(a)(31) of the Code) in the form of cash, notes (in the case of loans) or a combination thereof.

• Such actions shall include amending the Home KSOP to allocate any excess amounts in the Unallocated Reserve (as defined in the Home KSOP) that may exist after consummation of the Merger.

• As soon as practicable after receipt of such Final Determination Letter, distribution of benefits under the Home KSOP shall be made to the Home KSOP participants in compliance with the terms of the Home KSOP and the Final Determination Letter.

More Definitions of KSOP

KSOP means the Valley Resources, Inc. 401(k) Employee Stock Ownership Plan effective January 1, 1997 as defined by the KSOP Plan.

KSOP means FBLB’s Employee Stock Ownership with 401(k) Provisions Plan and Trust dated January 1, 2013, as amended through the date hereof.

KSOP means Signature’s Employee Stock Ownership Plan and Trust effective April 1, 2015, as amended through the date hereof. “KSOP Shares” means the shares of Common Stock beneficially owned by a Shareholder indirectly through the KSOP. “Shares” means (i) all shares of Common Stock of which a Shareholder is the beneficial owner or the record owner, as of the date hereof (other than the KSOP Shares), and (ii) all additional shares of Common Stock of which a Shareholder becomes the beneficial owner or record owner during the period commencing with the execution and delivery of this Agreement and expiring on the Expiration Date (other than shares acquired for an account or subaccount maintained for such Shareholder under the KSOP). “Transfer” means, with respect to any security, the direct or indirect assignment, sale, transfer, tender, pledge, hypothecation, or the grant, creation or sufferage of an Encumbrance in or upon, or the gift, placement in trust, or the Constructive Sale or other disposition of such security (including transfers by testamentary or intestate succession or otherwise by operation of Law) or any right, title or interest therein (including, but not limited to, any right or power to vote to which the holder thereof may be entitled, whether such right or power is granted by proxy or otherwise), or the record or beneficial ownership thereof, the offer to make such a sale, transfer, Constructive Sale or other disposition, and each agreement, arrangement or understanding, whether or not in writing, to effect any of the foregoing.

KSOP means the AIM Bancshares, Inc. 401(k) and Employee Stock Ownership Plan, dated January 1, 2007, and most recently amended and restated as of January 1, 2018, as amended through the date hereof.

KSOP means the Venture Financial Group, Inc. KSOP, previously known as the Venture Financial Group, Inc. KSOP (Employee Stock Purchase Plan with 401(k) Provisions).

KSOP has the meaning set forth in Section 5.15(d).

KSOP means the Appleton Paper Retirement Savings and Employee Stock Ownership Plan, as amended from time to time.