Definition of Tax Qualified


Tax Qualified means qualified by the Code for preferential tax treatment under Code sections 401(a) and 501(a).
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Examples of Tax Qualified in a sentence

BANK BENEFIT PLAN(S) includes, but is not limited to, Tax Qualified Employee Stock Benefit Plans and Non-Tax Qualified Employee Stock Benefit Plans.
Options may be granted as Tax Qualified Options or as Options which do not qualify as Tax Qualified Options.
Notwithstanding the provisions of this Section 18, the consent of the Optionee shall not be required with respect to an amendment to the Plan or to any outstanding Option which is made in order to comply with Securities Law Requirements or which causes a Tax Qualified Option no longer to qualify as such.
Notwithstanding the provisions of this Section 19, the consent of the Optionee shall not be required with respect to an amendment to the Plan or to any outstanding Option which is made in order to comply with Securities Law Requirements or which causes a Tax Qualified Option no longer to qualify as such.
ESOP means a Tax Qualified Employee Stock Benefit Plan adopted by the Holding Company or the Bank in connection with the Conversion, the purpose of which shall be to acquire shares of Common Stock.