Common use of Special Vesting Schedule Clause in Contracts

Special Vesting Schedule. 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 Plan Administrator will establish a separate Account for the Participant's Account Balance. At any relevant time following the distribution, the Plan Administrator will determine the Participant's Vested Account Balance derived from Employer contributions in accordance with the following formula: P(AB+(RxD))-(RxD).

Appears in 1 contract

Samples: Employee Profit Sharing and Stock Ownership Plan and Trust Agreement (PBSJ Corp /Fl/)

AutoNDA by SimpleDocs

Special Vesting Schedule. If the Trustee makes a distribution (other than a cash-out distribution described in Section 5.046.04) to a partially-Vested Participant, and the Participant has not incurred a Forfeiture Break in Service at the relevant time, the Plan Administrator will establish a separate Account for the Participant's Account Balance. At any relevant time following the distribution, the Plan Administrator will determine the Participant's Vested Account Balance derived from Employer Company contributions in accordance with the following formula: P(AB+(RxD))-(RxDP(AB + (R) x D)) - (R) x D).

Appears in 1 contract

Samples: Employees' Stock Ownership Plan and Trust Agreement (Caseys General Stores Inc)

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