Election of Former Vesting Schedule. Notwithstanding any other provision of the Plan, effective August 9, 2006, if there is an amendment to the vesting schedule applicable to a Participant’s nonforfeitable interest in his Separate Accounts or Separate ESOP Accounts because the Company adopts an amendment to the Plan that directly or indirectly affects the computation of a Participant’s nonforfeitable interest in his Separate Accounts or Separate ESOP Accounts, the following special rules shall apply:
Election of Former Vesting Schedule. In the event the Company adopts an amendment to the Plan that directly, or indirectly, affects the computation of a Participant’s nonforfeitable interest in his Separate Accounts or Separate ESOP Accounts, any Participant with three (five, if he does not complete an Hour of Service on or after January 1, 1989) or more years of vested service shall have a right to have his nonforfeitable interest continue to be determined under the vesting schedule in effect prior to such amendment rather than under the new vesting schedule, unless the nonforfeitable interest of such Participant under the Plan, as amended, at any time is not less than such interest determined without regard to such amendment. Such Participant shall exercise such right by giving written notification of his exercise thereof to his Employer within 60 days after the latest of (i) the date he receives notice of such amendment from his Employer, (ii) the effective date of the amendment, or (iii) the date the amendment is adopted. Notwithstanding the foregoing provisions of this Section 9.5, the vested interest of each Participant on the effective date of such amendment shall not be less than his vested interest under the Plan as in effect immediately prior to the effective date thereof.
Election of Former Vesting Schedule. If the Plan is amended at any time after the Effective Date and such amendment directly or indirectly affects the computation of a Participant’s rights to his or her Share of the Trust Fund, each Participant who has completed three years of Vesting Service (determined under Section 2.41 but without regard to subsections (a), (b) and (c) thereof) prior to the expiration of the election period described below and whose nonforfeitable percentage at any time after such amendment could be less than the percentage determined without regard to such amendment may elect during the election period to have the nonforfeitable percentage of his or her Share of the Trust Fund determined without regard to such amendment. The election period referred to in the first sentence of this Section will begin on the date the amendment of the vesting schedule is adopted and will end on the latest of the following dates: (i) the date which is 60 days after the date on which such amendment is adopted; (ii) the date which is 60 days after the date on which such amendment becomes effective; and (iii) the date which is 60 days after the date on which the Participant is issued written notice of such amendment by the Retirement Committee. An election under this Section 8.5 may be made only by an individual who is a Participant at the time such election is made and, once made, shall be irrevocable.
Election of Former Vesting Schedule. (a) In general. If the Plan is amended at any time and such amendment directly or indirectly affects the computation of a Participant’s rights to his or her Share of the Trust Fund, each Participant who has completed three Years of Service for Vesting (determined under Section 2.32 but without regard to subsections (a) and (b) thereof) prior to the expiration of the election period described below and whose nonforfeitable percentage at any time after such amendment could be less than the percentage determined without regard to such amendment may elect during the election period to have the nonforfeitable percentage of his or her Share of the Trust Fund determined without regard to such amendment.
