Common use of FORFEITURE OCCURS Clause in Contracts

FORFEITURE OCCURS. Except as provided in Section 7.11, a Participant shall permanently cease to be entitled to that part of his Account that is not part of his Vested Accrued Benefit when the Participant either: (i) Incurs five (5) consecutive Breaks in Service as the result of the termination of his Service; or (ii) Receives a distribution of his entire Vested Accrued Benefit in such Account, including the portion thereof derived from Employer contributions as the result of his termination of Service (provided such distribution, if any, is made not later than the close of the second Plan Year following the Participant's termination of Service).

Appears in 1 contract

Samples: Employee Stock Ownership Plan and Trust Agreement (Hastings Entertainment Inc)

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