ALLOCATION OF FORFEITURES. The Trustee, shall, as soon as practicable following the Anniversary Date marking the close of each Plan Year, allocate the forfeitures which have occurred in that Plan Year first to reinstate any forfeitures of any reemployed Participant under Section 6.2 and second, if any forfeitures are remaining after the reinstatements described above are completed, among the Company Contributions Accounts of all Employees who were or became Participants on the Anniversary Date of that Plan Year or whose Years of Service terminated during that Plan Year because of death, Total Disability or Deferred or Normal Retirement. The forfeitures shall be allocated among such Accounts in the same manner provided for under Section 4.2.
Appears in 5 contracts
Samples: Employee Stock Ownership Plan and Trust Agreement (Union Community Bancorp), Employee Stock Ownership Plan and Trust Agreement (Citizens Bancorp), Employee Stock Ownership Plan and Trust Agreement (Citizens Bancorp)
ALLOCATION OF FORFEITURES. The Trustee, shall, as soon as practicable following the Anniversary Date marking the close of each Plan Year, allocate the forfeitures which have occurred in that Plan Year first to reinstate any forfeitures of any reemployed Participant under Section 6.2 and second, if any forfeitures are remaining after the reinstatements described above are completed, among the Company Contributions Accounts of all Employees who were or became Participants on the Anniversary Date of that Plan Year or whose Years Period of Service terminated during that Plan Year because of death, Total Disability or Deferred or Normal Retirement. The forfeitures shall be allocated among such Accounts in the same manner provided for under Section 4.2.
Appears in 2 contracts
Samples: Employee Stock Ownership Plan and Trust Agreement (River Valley Bancorp), Employee Stock Ownership Plan and Trust Agreement (City Savings Financial Corp)
