FORFEITURE OCCURS. A Participant's forfeiture of his/her non-Vested Account Balance derived from Employer contributions occurs under the Plan on the earlier of: (a) The last day of the vesting computation period in which the Participant first incurs a Forfeiture Break in Service; or (b) The date the Participant receives a cash-out distribution. The Plan Administrator determines the percentage of a Participant's Account Balance forfeiture, if any, under this Section 5.09 solely by reference to the vesting schedule the Employer elected in its Adoption Agreement. A Participant does not forfeit any portion of his/her Account Balance for any other reason or cause except as expressly provided by this Section 5.09 or as provided under Section 9.11.
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Samples: 401(k) Plan Adoption Agreement (Petco Animal Supplies Inc), Adoption Agreement (CRH Public LTD Co), Adoption Agreement (Bank of Granite Corp)
FORFEITURE OCCURS. A Participant's ’s forfeiture of his/her non-Vested Account Balance derived from Employer contributions occurs under the Plan on the earlier of:
(a) The last day of the vesting computation period in which the Participant first incurs a Forfeiture Break in Service; or
(b) The date the Participant receives a cash-out distribution. The Plan Administrator determines the percentage of a Participant's ’s Account Balance forfeiture, if any, under this Section 5.09 solely by reference to the vesting schedule the Employer elected in its Adoption Agreement. A Participant does not forfeit any portion of his/her Account Balance for any other reason or cause except as expressly provided by this Section 5.09 or as provided under Section 9.11.
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Samples: Defined Contribution Prototype Plan (Trimeris Inc), Defined Contribution Prototype Plan (MSC Software Corp)
FORFEITURE OCCURS. A Participant's forfeiture of his/her non-Vested ----------------- Account Balance derived from Employer contributions occurs under the Plan on the earlier of:
(a) The last day of the vesting computation period in which the Participant first incurs a Forfeiture Break in Service; or
(b) The date the Participant receives a cash-out distribution. The Plan Administrator determines the percentage of a Participant's Account Balance forfeiture, if any, under this Section 5.09 solely by reference to the vesting schedule the Employer elected in its Adoption Agreement. A Participant does not forfeit any portion of his/her Account Balance for any other reason or cause except as expressly provided by this Section 5.09 or as provided under Section 9.11.
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