Plan Vesting. Until such time that a teacher has retired and satisfied the following requirements, the teacher shall have no access to the assets held in his or her separate VEBA account:
Plan Vesting. Upon completion of ten (10) continuous years of service with Noblesville Schools, a teacher shall be 100% fully vested in his/her Matching 401(a) Plan account. Prior to the completion of this requirement, a teacher is not even partially vested in his/her Matching 401(a) Plan account and a teacher shall have no access to the assets held in his or her separate Matching 401(a) Plan account. For these purposes, “continuous years of service” means the number of consecutive years of employment as a certified employee in Noblesville Schools. Approved leaves of absences not exceeding one (1) year shall not be considered to be a break in continuous employment for the purpose of determining “continuous years of service”. A certified employee on an approved leave of absence will not receive completed years of service credit for vesting purposes for the time of the approved leave.
Plan Vesting. Upon completion of ten (10) continuous years of service with Corporation, a teacher shall be 100% fully vested in his/her Matching 401(a) Plan account. Prior to the completion of this requirement, a teacher is not even partially vested in his/her Matching 401(a) Plan account and a teacher shall have no access to the assets held in his or her separate Matching 401(a) Plan account. For these purposes, “continuous years of service” means the number of consecutive years of employment as a certified employee in Corporation. Approved leaves of absences not exceeding one (1) year shall not be considered to be a break in continuous employment for the purpose of determining “continuous years of service”. A certified employee on an approved leave of absence will not receive completed years of service credit for vesting purposes for the time of the approved leave.
Plan Vesting. (a) For purposes of Section 3.1(b) of the Plan, the shares of Restricted Stock subject to grant hereunder shall not be considered vested until the date of distribution under Article VI hereof in accordance with this Agreement. Notwithstanding the absence of such vesting, the provisions of Section 3.1(b) of the Plan providing for the forfeiture of shares of Restricted Stock that have not vested as of the date of termination of employment of the Employee or the satisfaction of other conditions to vesting of Restricted Stock prior to such termination of employment shall not apply. Rather, the provisions with respect to forfeiture and distribution of the Restricted Stock provided for in this Agreement shall apply in lieu of such provisions as permitted by Section 3.1(b) of the Plan.
(b) The shares of Restricted Stock subject to grant hereunder shall vest only at such time as such shares of Restricted Stock are required to be distributed in accordance with the provisions of Article VI of this Agreement. Upon issuance of the shares of Restricted Stock to be issued pursuant to Article VI hereof, such shares shall be restricted for a period of five days after issuance and thereafter be deemed fully vested without restriction. Prior to the removal of such restrictions, the Employee shall be entitled to vote and receive dividends and other distributions with respect to the Restricted Stock issued to him, with the only restriction applicable to such shares being a restriction on transfer. Once the shares of Restricted Stock have been issued pursuant to Article VI of this Agreement, such shares of Restricted Stock shall not be subject to forfeiture.
Plan Vesting. Until such time that a teacher has retired and satisfied the following requirements, the teacher shall have no access to the assets held in his or her separate VEBA account:
a. Years of Service. At retirement, a teacher must have completed at least ten (10) continuous years of service with Corporation and has attained fifty-five
Plan Vesting. Until such time that a bargaining unit member has retired and satisfied the following requirements, the bargaining unit member shall have no access to the assets held in his or her separate VEBA account:
Plan Vesting. Upon completion of five continuous years of service with Corporation, a bargaining unit member shall be 100% fully vested in his/her Matching 401(a) Plan account. Prior to the completion of this requirement, a bargaining unit member is not even partially vested in his/her Matching 401(a) Plan account and a bargaining unit member shall have no access to the assets held in his or her separate Matching 401(a) Plan account. For these purposes, "continuous years of service" means the number of consecutive years of employment as a certified employee in Corporation. Approved leaves of absences not exceeding one (1) year shall not be considered to be a break in continuous employment for the purpose of determining "continuous years of service". A certified employee on an approved leave of absence will not receive completed years of service credit for vesting purposes for the time of the approved leave.
Plan Vesting. Employee is 100% vested in the Celanese Americas Retirement Pension Plan, the Celanese Americas Supplemental Retirement Pension Plan and the Celanese 401(k) plan. h. Unused Vacation. Employee will be entitled to five (5) weeks vacation for 2009. The Employer will pay to Employee wages for any unused vacation for 2009 and any approved vacation carried over from 2008 under the standard procedure for calculating and paying any unused vacation to separated employees. The gross amount due to Employee, less any lawful deductions, will be payable on the earlier of (i) October 1, 2009 or (ii) the date which is six (6) months and one day following the Retirement Date, whichever is applicable, subject to the Employee providing the details of any vacation days utilized during 2008 and 2009 through the exit interview process. i. Company Benefit Plans. Healthcare & dental plan coverage based on the Employee’s current health & dental plan elections will continue until the end of the month in which the Employee separates, in this case August 31, 2009. All other normal company programs (e.g., life insurance, long term disability, 401(k) contributions, etc.) will continue through the Retirement Date. j.
Plan Vesting. Employee is 100% vested in the Company cash balance pension and 401(k) plans.
Plan Vesting. The Company will fulfill its obligations according to the terms of the respective Plans.
