Payroll Deduction Account definition

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

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

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

Examples of Payroll Deduction Account in a sentence

• No interest shall accrue or be paid on amounts credited to a Payroll Deduction Account.

• All regular payroll deductions shall be credited to the Payroll Deduction Account that the Company has established in the name of the Participant.

• 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.

• Except to the extent provided by the Committee, a Participant may not make any separate cash payments into such Participant's Payroll Deduction Account, and payment for Shares purchased under the Plan may not be made in any form other than by payroll deduction.

• Upon termination of the Plan, each Participant will receive the balance in the Participant’s Payroll Deduction Account.

More Definitions of Payroll Deduction Account

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to the Participant's account from the payroll deductions made by the Participant under this Plan, less any amounts withdrawn from such account (for payment of Common Stock, payment to the Participant, payment of withholding and other taxes or amounts or payment of other obligations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 for a Participant to hold payroll deductions pursuant to Section 6.

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 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 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 Company's bookkeeping entry that reflects the amount deducted from each Participant's Pay for the purpose of purchasing Shares under the Plan, reduced by amounts refunded to the Participant and amounts applied to purchase Shares hereunder. Amounts deducted from each Participant's Pay may be commingled with the general funds of the Company. No interest shall be paid or allowed on a Participant's payroll deductions.

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