Common use of Special Vesting Provisions Clause in Contracts

Special Vesting Provisions. [Note: Any special vesting provision specified under Election 36(d) must be definitely determinable. If the Plan is not subject to ERISA, the vesting schedule must be at least as rapid as a 15-year cliff (or a 20-year cliff for a group of Employees limited to qualified public safety employees defined in Code §72(t)(10)(B)) or a 5 to 20 year graded vesting schedule. If the Plan is an ERISA Plan, the vesting schedule must be at least as rapid at each point in the schedule as a 6-year graded or 3-year cliff.]

Special Vesting Provisions. [Note: Any special vesting provision specified under Election 36(d36(c) must be definitely determinable. If the Plan is not subject to ERISA, the The vesting schedule must be at least as rapid as a 15-year cliff (or a 20-year cliff for a group of Employees limited to qualified public safety employees defined in Code §72(t)(10)(B)) or a 5 to 20 year graded vesting schedule. If the Plan is an ERISA Plan, the vesting schedule must be at least as rapid at each point in the schedule as a 6-year graded or 3-year cliff.]