Payroll Deduction Account definition

Payroll Deduction Account means the bookkeeping account established for a Participant in accordance with Section 6.

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Payroll Deduction Account means the bookkeeping entry established by the Company for each Participant pursuant to Section 4.3.

Payroll Deduction Account means the separate account established for each Participant to reflect the Participant’s payroll deductions and contributions to the Plan.

Examples of Payroll Deduction Account in a sentence

• Upon termination of the Plan, all amounts in an employee's Payroll Deduction Account that are not used to purchase Common Stock, plus any interest accrued thereon, will be refunded.

• The Employer shall implement a Flexible Spending (Payroll Deduction) Account for medical care for all Employees covered by the Fund under this Agreement through IRS Code §§125 and 129.

• All regular payroll deductions and voluntary contributions shall be credited to the Payroll Deduction Account that the Bank has established in the name of the Participating Employee.

• A Participant may not make any additional payments to the Participant's Payroll Deduction Account, except as expressly provided in the Plan or as authorized by the Committee.

• Unless the Participant elects to withdraw from the Plan as provided in Section 9, the funds in the Participant's Payroll Deduction Account will not be refunded to the Participant but instead will be used to purchase Shares for the Participant on the Purchase Date.

More Definitions of Payroll Deduction Account

Payroll Deduction Account means an account to which payroll deductions of a Participant are credited under Section 8(c) of the Plan.

Payroll Deduction Account means, with respect to each Participant, the amounts credited to the Participant's account from the payroll deductions made by the Participant under this Plan, less any amounts withdrawn from such account (for payment of Common Stock, payment to the Participant, payment of withholding and other taxes or amounts or payment of other obligations or amounts).

Payroll Deduction Account means the account established on behalf of a Participating Associate pursuant to Section 7.1 below, to which his or her payroll deductions shall be credited.

Payroll Deduction Account means the account established for a Participant to hold payroll deductions pursuant to Section 6.

Payroll Deduction Account means the separate account maintained hereunder to record the amount of a Participant's Compensation that has been withheld pursuant to PARAGRAPH 5.

Payroll Deduction Account means the account established for a Participant to hold the Participant’s Contributions pursuant to Section 5.

Payroll Deduction Account means a bookkeeping entry that shows the amount of money available for purchase of Common Stock for a Participant under the Plan from Payroll Deductions.