Stock Purchase Account

Stock Purchase Account. Means a noninterest bearing bookkeeping entry established by the Company or a Subsidiary, which shall record all amounts deducted from a Participant's Compensation or otherwise contributed by the Participant for the purpose of purchasing Shares for such Participant under the Plan, reduced by all amounts applied to the purchase of Shares for such Participant under the Plan. Neither the Company nor any Subsidiary shall be required to segregate or set aside any amounts so deducted or contributed,... and such bookkeeping entry shall not represent an interest in any assets of the Company or a Subsidiary. All deducted or contributed amounts shall remain part of the general assets of the Company or a Subsidiary until they are applied to purchase Shares under the Plan, and until such time may be used for any corporate purpose. View More

Stock Purchase Account. The term "Stock Purchase Account" means a current bookkeeping record maintained by the company of cumulative payroll deductions made from the Current Compensation of each Participant in the Plan as reduced by amounts applied toward the purchase of Shares under the Plan.

Stock Purchase Account. Means the account maintained in the books and records of the Company recording the amount withheld from each Participant through payroll deductions made under the Plan.