Common use of ELECTION OF SPECIAL VESTING FORMULA Clause in Contracts

ELECTION OF SPECIAL VESTING FORMULA. If the Trustee makes a distribution (other than a cash-out distribution described in Section 5.04) to a partially- vested Participant, and the Participant has not incurred a Forfeiture Break in Service at the relevant time, the Advisory Committee will establish a separate Account for the Participant's Accrued Benefit. At any relevant time following the distribution, the Advisory Committee will determine the Participant's Nonforfeitable Accrued Benefit derived from Employer contributions in accordance with the following formula: P(AB + (R x D)) - (R x D).

Appears in 7 contracts

Samples: Defined Contribution Master Plan and Trust Agreement (Sonic Corp), Adoption Agreement (Channell Commercial Corp), Defined Contribution Prototype Plan and Trust Agreement (High Country Bancorp Inc)

AutoNDA by SimpleDocs

ELECTION OF SPECIAL VESTING FORMULA. If the Trustee makes a distribution (other than a cash-out distribution described in Section 5.04) to a partially- partially-vested Participant, and the Participant has not incurred a Forfeiture Break in Service at the relevant time, the Advisory Administrative Committee will establish a separate Account for the Participant's Accrued Benefit. At any relevant time following the distribution, the Advisory Administrative Committee will determine the Participant's Nonforfeitable Accrued Benefit derived from Employer contributions in accordance with the following formula: P(AB + (R x D)) - (R x D).

Appears in 4 contracts

Samples: Defined Contribution Prototype Plan and Trust Agreement (Goodmark Foods Inc), 401(k) Savings Plan (Summit Care Corp), 401(k) Savings Plan (Summit Care Corp)

ELECTION OF SPECIAL VESTING FORMULA. If the Trustee makes a distribution (other than a cash-out distribution described in Section 5.04) to a partially- partially-vested Participant, and the Participant has not incurred a Forfeiture Break in Service at the relevant time, the Advisory Committee will establish a separate Account for the Participant's Accrued Benefit. At any relevant time following the distribution, the Advisory Committee will determine the Participant's Nonforfeitable Accrued Benefit derived from Employer contributions in accordance with the following formula: P(AB P(A.B + (R x D)) - (R R. x D).

Appears in 1 contract

Samples: Defined Contribution Master Plan and Trust Agreement (Transcrypt International Inc)

ELECTION OF SPECIAL VESTING FORMULA. If the Trustee makes a distribution (other than a cash-out distribution described in Section 5.04) to a partially- partially-vested Participant, and the Participant has not incurred a Forfeiture Break in Service at the relevant time, the Advisory Committee will establish a separate Account for the Participant's Accrued Benefit. At any relevant time following the distribution, the Advisory Committee will determine the Participant's Nonforfeitable Accrued Benefit derived from Employer contributions in accordance with the following formula: formulas P(AB + (R x D)) - (R x D).

Appears in 1 contract

Samples: Defined Contribution Prototype Plan and Trust Agreement (Midcoast Energy Resources Inc)

AutoNDA by SimpleDocs

ELECTION OF SPECIAL VESTING FORMULA. If the Trustee makes a distribution (other than a cash-out distribution described in Section 5.04) to a partially- vested Participant, and the Participant has not incurred a Forfeiture Break in Service at the relevant time, the Advisory Committee will establish a separate Account for the Participant's Accrued Benefit. At any relevant time following the distribution, the Advisory Committee will determine the Participant's Nonforfeitable Accrued Benefit derived from Employer contributions in accordance with the following formula: P(AB + (R x s D)) - (R x D).

Appears in 1 contract

Samples: Adoption Agreement (Timberland Bancorp Inc)

ELECTION OF SPECIAL VESTING FORMULA. If the Trustee makes a distribution (other than a cash-cash- out distribution described in Section 5.04) to a partially- partially-vested Participant, and the Participant has not incurred a Forfeiture Break in Service at the relevant time, the Advisory Committee will establish a separate Account for the Participant's Accrued Benefit. At any relevant time following the distribution, the Advisory Committee will determine the Participant's Nonforfeitable Accrued Benefit derived from Employer contributions in accordance with the following formula: P(AB + (R x D)) - (R x D).

Appears in 1 contract

Samples: Defined Contribution Prototype Plan and Trust Agreement (Mmi Products Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!