TOP-HEAVY PLAN PROVISIONS. For each Plan Year in which the Plan is a Top-Heavy Plan the following provisions will apply:
a. The percentage of a Participant's Employer Contribution Account to be vested in him upon termination of employment prior to retirement shall be:
i a percentage determined in accordance with the following schedule: Years of Service Percentage Less than two 0 Two but less than three 20 Three but less than four 40 Four but less than five 60 Five but less than six 80 Six or more 100; ___ ii 100% vesting after (not to exceed 3) Years of Service; provided, however, that Years of Service may not exceed two (2) if the service requirement for eligibility exceeds 1 year; or _X_ iii computed in accordance with the vesting schedule selected by the Employer in Items B(7)(a) or C(4)(d), as long as the benefits under the vesting schedule in Items B(7)(a) or C(4)(d), vest at least as rapidly as the two options specified in this Item B(14)(a), above. If the vesting schedule under the Plan shifts in or out of the schedules above for any Plan Year because of the Plan's Top-Heavy status, such shift is an amendment to the vesting schedule and the election in Section 2.2 of the Basic Plan Document applies.
b. For purposes of minimum Top-Heavy allocations, contributions and forfeitures equal to 3 % (not less than 3%) of each Non-key Employee's Compensation will be allocated to each Participant's Contribution Account when the Plan is a Top-Heavy Plan, except as otherwise provided in the Basic Plan Document. This Item 14 will not apply to any Participant to the extent the Participant is covered under any other plan or plans of the Employer and the Employer completes the following: (Insert the name of the plan or plans which will meet the minimum allocation or benefit requirement applicable to Top-Heavy plans.) Midland-Guardian Co. Salaried Employees Pension Plan.
c. The Valuation Date as of which account balances or accrued benefits are valued for purposes of computing the Top-Heavy Ratio shall be the last day of each Plan Year.
d. If the Employer maintains or has ever maintained one or more defined benefit plans which have covered or could cover a Participant in this Plan, complete the following: Present Value: For purposes of establishing Present Value to compute the Top-Heavy Ratio, any benefit shall be discounted only for mortality and interest based on the following: Interest rate 8% Mortality table: 1983 Group Annuity Mortality Table
TOP-HEAVY PLAN PROVISIONS. For each Plan Year in which the Plan is a Top-Heavy Plan the following provisions will apply:
a. The percentage of a Participant's Employer Contribution Account to be vested in him upon termination of employment prior to retirement shall be: i _____ a percentage determined in accordance with the following schedule: YEARS OF SERVICE PERCENTAGE ---------------- ---------- Less than two 0 Two but less than three 20 Three but less than four 40 Four but less than five 60 Five but less than six 80 Six or more 100;
TOP-HEAVY PLAN PROVISIONS. (a) Applicability of Section. This section is included in the Plan to meet the requirements of Code Section 416, and the provisions of this section will be operative only if, when and to the extent that Code Section 416 applies to the Plan. At such time as the requirements of Code Section 416 apply to the Plan because the Plan is top-heavy as defined in subsection (b)(i) below, the provisions of this section will apply and will govern over contrary provisions of the Plan.
TOP-HEAVY PLAN PROVISIONS. 74 ARTICLE XXI ELIGIBLE ROLLOVER DISTRIBUTIONS . . . . . . . . . . . . . . . . . . . . . . 80 INTRODUCTION THIS AGREEMENT, by and between Hastings Books, Music & Video, Inc., a corporation organized and existing under the laws of the State of Texas (herein referred to as the "Plan Sponsor") and Trustees as shall be appointed from time to time by the Plan Sponsor (herein referred to as the "Trustee") for the benefit of all employees of the Plan Sponsor and its affiliated companies who are or may become eligible hereunder and who participate in the Hastings Books, Music & Video, Inc. Employee Stock Ownership Plan hereby established.
TOP-HEAVY PLAN PROVISIONS. For each Plan Year in which the Plan is a Top-Heavy Plan the following provisions will apply:
a. The percentage of a Participant's Employer Contribution Account to be vested in him upon termination of employment prior to retirement shall be: YEARS OF SERVICE PERCENTAGE ---------------- ---------- Less than two 0 Two but less than three 20 Three but less than four 40 Four but less than five 60 Five but less than six 80 Six or more 100; ii [ ] 100% vesting after _____ (not to exceed 3) Years of Service; provided, however, that Years of Service may not exceed two (2) if the service requirement for eligibility exceeds 1 year; or iii [ ] computed in accordance with the vesting schedule selected by the Employer in Items B(7)(a) or C(4)(d), as long as the benefits under the vesting schedule in Items B(7)(a) or C(4)(d) vest at least as rapidly as the two options specified in this Item B(14)(a), above. If the vesting schedule under the Plan shifts in or out of the schedules above for any Plan Year because of the Plan's Top-Heavy status, such shift is an amendment to the vesting schedule and the election in Section 2.2 of the Basic Plan Document applies.
TOP-HEAVY PLAN PROVISIONS
