Special Ledger definition
Examples of Special Ledger in a sentence
The Company has accrued a total of One Hundred Ninety-Four Thousand Eight Hundred Fifty and 97/100 Dollars ($194,850.97) in KAYNE'S Special Ledger account pursuant to the applicable provisions of the Company's Deferred Compensation Plan, and as more fully calculated in Exhibit "C" attached to this Agreement.
The Company shall credit to the Executive's account in the Special Ledger amounts equal to dividends paid in cash from time to time on the account, so that the amount of each such credit will be the equivalent of the dividends which the Participant would have received had the Executive been the owner of the number of shares of Common Stock equal to the number of Units in the Participant's account.
The Company shall keep an appropriate record, hereinafter called the Special Ledger, of (i) the amount of Cash Compensation deferred by the Executive, (ii) the number of Units credited under paragraph (c) of this Section 5, and (iii) the amount of dividends and Units credited with respect thereto under paragraph (d) of this Section 5.
In the event of any stock dividend on the Common Stock or any stock split, reverse stock split or combination of shares of Common Stock, appropriate adjustment shall be made in the number of Units credited to the account of the Executive in the Special Ledger.
The Special Ledger account shall be paid to KAYNE as provided for in the Deferred Compensation Plan in periodic payments commencing June 30, 1995.