Common use of TOP-HEAVY VESTING Clause in Contracts

TOP-HEAVY VESTING. If this Plan becomes a Top-Heavy Plan, the following vesting schedule for such Plan Year and each succeeding Plan Year, whether or not Top-Heavy, shall be effective and shall be treated as a Plan amendment pursuant to this Agreement. [ ] (b) 20% vested after 2 years of service 40% vested after 3 years of service 60% vested after 4 years of service 80% vested after 5 years of service 100% vested after 6 years of service [ ] (c) Specify: (Must in all years be as favorable as the schedule in (a) above, or as favorable as the schedule in (b) above.) % vested after years of service ------ ----- % vested after years of service ------ ----- % vested after years of service ------ ----- % vested after years of service ------ ----- % vested after years of service ------ ----- % vested after years of service ------ ----- [X] (d) N/A, Vesting schedule in A-11.02 is equal to or more favorable than (a) or (b) above. However, this Section does not apply to the Account balances of any Participant who does not have an Hour of Service after the Plan has initially become Top-Heavy. Such Participant's Account balance attributable to Employer contributions and forfeitures shall be determined without regard to this section. The adopting Employer may not rely on an Opinion Letter issued by the National Office of the Internal Revenue Service as evidence that the Plan is qualified under Section 401 of the Internal Revenue Code. In order to obtain reliance with respect to plan qualification, the Employer must apply to the appropriate key district office for a Determination Letter. This adoption agreement may not be used only in conjunction with basic plan document #01. Provided the adoption of this Plan is properly registered with the Prototype Sponsor, the Prototype Sponsor shall inform the adopting Employer of any amendments made to the Plan or of the discontinuance or abandonment of the Plan. The adoption of the Plan is not properly registered unless the attached registration form along with the applicable registration fee is returned to: Lincoln National Life Insurance Company 0000 Xxxxx Xxxxxxx Xxxxxx P.O. Box #2248 Ft. Xxxxx, IN 46801-2248 Inquiries by adopting Employers regarding the adoption of this Plan, the intended meaning of any Plan provisions, or the effect of the Opinion Letter may be directed to the Prototype Sponsor at the above address or phone (000) 000-0000. Use of this Plan Document without proper registration and payment of the applicable registration fee constitutes an unauthorized use. The Employer represents that it has consulted with its attorney with respect to its adoption of this Plan, and agrees to the provisions of the Plan and Trust.

TOP-HEAVY VESTING. If this Plan becomes a Top-Heavy Plan, the following vesting schedule for such Plan Year and each succeeding Plan Year, whether or not Top-Heavy, shall be effective and shall be treated as a Plan amendment pursuant to this Agreement. [ [_] (a) 100% vested after ___ (not to exceed 3) years of service. [_] (b) 20% vested after 2 years of service 40% vested after 3 years of service 60% vested after 4 years of service 80% vested after 5 years of service 100% vested after 6 years of service [ [_] (c) Specify: (Must in all years be as favorable as the schedule in (a) above, or as favorable as the schedule in (b) above.) _____% vested after _____ years of service ------ ----- _____% vested after _____ years of service ------ ----- _____% vested after _____ years of service ------ ----- _____% vested after _____ years of service ------ ----- _____% vested after _____ years of service ------ ----- _____% vested after _____ years of service ------ ----- [X] (d) N/A, Vesting schedule in A-11.02 is equal to or more favorable than (a) or (b) above. However, this Section does not apply to the Account balances of any Participant who does not have an Hour of Service after the Plan has initially become Top-Heavy. Such Participant's Account balance attributable to Employer contributions and forfeitures shall be determined without regard to this sectionSection. The adopting An Employer who has ever maintained or who later adopts any plan [including a welfare benefit fund, as defined in Section 419(e) of the Code, which provides post-retirement medical benefits allocated to separate accounts for Key Employees, as defined in Section 419A(d)(3) of the Code, or an individual medical account, as defined in Section 415(1)(2) of the Code] in addition to this Plan other than paired plans #00201 or #00401 may not rely on an the Opinion Letter issued by the National Office of the Internal Revenue Service as evidence that the this Plan is qualified under Section 401 of the Internal Revenue Code. In order If the Employer who adopts or maintains multiple plans wishes to obtain reliance with respect to plan qualificationthat his or her plan(s) are qualified, the Employer must apply application for a determination letter should be made to the appropriate key district office for a Determination LetterKey District Director of Internal Revenue. This adoption agreement may not be used only in conjunction with basic plan document #01. Provided the adoption of this Plan is properly registered with the Prototype Sponsor, the Prototype Sponsor shall inform the adopting Employer of any amendments made to the Plan or of the discontinuance or abandonment of the Plan. The adoption of the Plan is not properly registered unless the attached registration form along with the applicable registration fee is returned to: Lincoln National Life Insurance Company 0000 Xxxxx Xxxxxxx Xxxxxx P.O. Box X.X. Xxx #2248 0000 Ft. Xxxxx, IN 46801-2248 Inquiries by adopting Employers regarding the adoption of this Plan, the intended meaning of any Plan provisions, or the effect of the Opinion Letter may be directed to the Prototype Sponsor at the above address or phone (000) 000-0000. Use of this Plan Document without proper registration and payment of the applicable registration fee constitutes an unauthorized use. The Employer represents that it has consulted with its attorney with respect to its adoption of this Plan, and agrees to the provisions of the Plan and Trust.

TOP-HEAVY VESTING. If this Plan becomes a Top-Heavy Plan, the following vesting schedule for such Plan Year and each succeeding Plan Year, whether or not Top-Heavy, shall be effective and shall be treated as a Plan amendment pursuant to this Agreement. [ [_] (a) 100% vested after _____ (not to exceed 3) years of service. [X] (b) 20% vested after 2 years of service 40% vested after 3 years of service 60% vested after 4 years of service 80% vested after 5 years of service 100% vested after 6 years of service [ [_] (c) Specify: (Must in all years be as favorable as the schedule in (a) above, or as favorable as the schedule in (b) above.) _____% vested after _____ years of service ------ ----- _____% vested after _____ years of service ------ ----- _____% vested after _____ years of service ------ ----- _____% vested after _____ years of service ------ ----- _____% vested after _____ years of service ------ ----- _____% vested after _____ years of service ------ ----- [X_] (d) N/A, Vesting schedule in A-11.02 is equal to or more favorable than (a) or (b) above. However, this Section does not apply to the Account balances balance of any Participant who does not have an Hour of Service after the Plan has initially become Top-Heavy. Such Participant's Account balance attributable to Employer contributions and forfeitures shall be determined without regard to this sectionSection. The adopting Employer may not rely on an Opinion Letter issued by the National Office of the Internal Revenue Service as evidence that the Plan is qualified under Section 401 of the Internal Revenue Code. In order to obtain reliance with respect to plan qualification, the Employer must apply to the appropriate key district office for a Determination Letter. This adoption agreement may not be used only in conjunction with basic plan document #01. Provided the adoption of this Plan is properly registered with the Prototype Sponsor, the Prototype Sponsor shall inform the adopting Employer of any amendments amendment made to the Plan or of the discontinuance or abandonment of the Plan. The adoption of the Plan is not properly registered unless the attached registration form along with the applicable registration fee is returned to: Lincoln National Life Insurance Company 0000 Xxxxx Xxxxxxx Xxxxxx P.O. Box X.X. Xxx #2248 0000 Ft. Xxxxx, IN 46801-2248 Inquiries by adopting Employers regarding the adoption of this Plan, the intended meaning of any Plan provisions, or the effect of the Opinion Letter may be directed to the Prototype Sponsor at the above address or phone (000219) 000-0000455- 4940. Use of this Plan Document without proper registration and payment of the applicable registration fee constitutes an unauthorized useUSE OF THIS PLAN DOCUMENT WITHOUT PROPER REGISTRATION AND PAYMENT OF THE APPLICABLE REGISTRATION FEE CONSTITUTES AN UNAUTHORIZED USE. The Employer represents that it has consulted with its attorney with respect to its adoption of this PlanTHE EMPLOYER REPRESENTS THAT IS HAS CONSULTED WITH ITS ATTORNEY WITH RESPECT TO ITS ADOPTION OF THIS PLAN, and agrees to the provisions of the Plan and TrustAND AGREES TO THE PROVISIONS OF THE PLAN AND TRUST.