Vesting of Company Contributions Sample Clauses

Vesting of Company Contributions. Each participant shall be one hundred per cent (100%) vested and shall have a nonfor-feitable right to the full value of his or her account and to any stock and uninvested cash allocated thereto.
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Vesting of Company Contributions. Commencing January 1, 1988, the value of a participant's account with respect to Company contributions made for his benefit shall be vested, to the extent of the percentage applicable, upon the valuation date of the month in which the participant completes the years of employment with the Company in accordance with the following schedule: Years of Percentage Years of Percentage Employment Vested Employment Vested A "year of employment" shall be deemed to mean twelve (12) con-secutive monthly periods of employment with the Company, dating from the commencement of employment, during which he or she shall complete at least one thousand (1,000) hours of employment. Beginning January 1, 1998, a "year of employment" shall mean one thousand (1,000) hours of employment during the calendar year. An employee who completes one thousand (1,000) hours of employment in the twelve (12) month period beginning with his date of employment in 1997 (or an anniversary of his date of employment if he began his employment before 1997) and also completes one thousand (1,000) hours of employment in the 1998 calendar year will be credited with two (2) years of employment for purposes of this Paragraph. How-ever, years of employment of an employee of Old American Insurance Company prior to November 1, 1991 shall not be taken into account for purposes of this ARTICLE VIII. If an employee's employment with either Kansas City Life Insurance Company or one of its affiliated corporations shall be terminated, and he is immediately employed by any other of such affiliated corporations, his employment shall be regarded as continuous and treated as if under one (1) employer for vesting purposes. In the event a participant shall be terminated from employment with the Company or any of its affiliated corporations, by reason of death or retirement, the value of his or her account with respect to Company contributions shall be one hundred percent (100%) vested upon the valuation date of the month in which such death or retirement occurs. The value of a participant's account with respect to his or her personal contributions, and accounted for in Fund I, Fund II, Fund IV, Fund V, Fund VI, Fund VII, Fund VIII and Fund IX shall be fully vested at all times.
Sample 1
Vesting of Company Contributions. Each Participant shall have a nonforfeitable vested interest in the balances credited to his Company Contribu tions and Matching Contributions Accounts, which balances shall be determined, at any point in time, after any adjust ments required to be made pursuant to the provisions of Article V.
Sample 1
Vesting of Company Contributions. The Participant shall have a nonforfeitable right to any Company contributions under Section 4.2, plus interest thereon.
Sample 1
Vesting of Company Contributions. Commencing January 1, 1988, the value of a participant’s account with respect to Company contributions made for his benefit shall be vested, to the extent of the percentage applicable, upon the valuation date of the month in which the participant completes the years of employment with the Company in accordance with the following schedule: Years of Percentage Employment Vested Commencing January 1, 2002, for a participant who completes one (1) hour of service after December 31, 2001, the value of a participant’s account with respect to Company contributions made for his benefit shall be vested upon the valuation date of the month in which the participant completes the years of employment with the Company in accordance with the following schedule: Years of Percentage Employment Vested
Sample 1
Vesting of Company Contributions. Upon termination of employment due to death, or total or permanent disability, or upon reaching normal retirement date, each participant shall have a fully vested interest in the credit balance in his or her Company contribution account; otherwise, each participant shall have only the vested interest in the credit balance in his or her Company contribution account that is set forth in the following table opposite the number of his or her years of service.
Sample 1
Vesting of Company Contributions. Commencing January 1, 1988, the value of a participant's account with respect to Company contributions made for his benefit shall be vested, to the extent of the percentage applicable, upon the valuation date of the month in which the participant completes the years of employment with the Company in accordance with the following schedule: Years of Percentage Employment Vested
Sample 1
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Related to Vesting of Company Contributions

  • Qualified Matching Contributions If selected below, the Employer may make Qualified Matching Contributions for each Plan Year (select all those applicable):

  • Matching Contributions The Employer will make matching contributions in accordance with the formula(s) elected in Part II of this Adoption Agreement Section 3.01.

  • Rollover Contributions An amount which qualifies as a rollover contribution pursuant to the Federal Internal Revenue Code may be transferred to and paid under this contract as a contribution for a Participant. Prudential may require proof that the amount paid so qualifies.

  • DEFERRAL CONTRIBUTIONS The Advisory Committee will allocate to each Participant's Deferral Contributions Account the amount of Deferral Contributions the Employer makes to the Trust on behalf of the Participant. The Advisory Committee will make this allocation as of the last day of each Plan Year unless, in Adoption Agreement Section 3.04, the Employer elects more frequent allocation dates for salary reduction contributions.

  • Nonqualified Deferred Compensation Plans Effective on or before the Distribution Date, Columbia shall adopt, establish and maintain nonqualified deferred compensation plans for the benefit of employees of the Columbia Parties (the “Columbia Deferred Compensation Plans”) and shall establish one or more grantor trusts to be a source of providing benefits thereunder (the “Columbia Rabbi Trusts”) that in each case shall be substantially similar to the NiSource Deferred Compensation Plans and the grantor trusts maintained by NiSource with respect to the NiSource Deferred Compensation Plans (the “NiSource Rabbi Trusts”). As of the Distribution Date, the Columbia Parties shall assume and thereafter be solely responsible for all existing and future liabilities relating to Business Employees’ (and Deceased Business Employee survivors’ and beneficiaries’) (a) benefits accrued under the NiSource Deferred Compensation Plans prior to the Distribution Date and (b) benefits that accrue under the Columbia Deferred Compensation Plans on and after the Distribution Date. All beneficiary designations made by Business Employees and by survivors and beneficiaries of Deceased Business Employees under the NiSource Deferred Compensation Plans shall, to the extent applicable, be transferred to, and be in full force and effect under, the Columbia Deferred Compensation Plans until such beneficiary designations are replaced or revoked by the Business Employee (or the survivor or beneficiary of the Deceased Business Employee) who made the beneficiary designation. Following the Distribution Date, the NiSource Parties shall have no liability or obligation with respect to the benefits accrued by such Business Employees or by such survivors or beneficiaries of Deceased Business Employees under any of the NiSource Deferred Compensation Plans or with respect to any benefits accrued under the Columbia Deferred Compensation Plans. As soon as administratively practicable after the Distribution Date, NiSource shall cause the NiSource Rabbi Trusts to transfer to the Columbia Rabbi Trusts cash, life insurance policies or other assets having an aggregate fair market value equal to (i) the aggregate fair market value of all assets held in the NiSource Rabbi Trusts as of the Distribution Date multiplied by (ii) a percentage, the numerator of which shall be the lump sum present value of the benefits assumed by the Columbia Deferred Compensation Plans pursuant to this Section 3.03 and the denominator of which shall be the lump sum present value of all benefits accrued under the NiSource Deferred Compensation Plans immediately prior to the Distribution Date.

  • Employer Contributions If Employer contributions are permitted, complete (a) and/or (b). Otherwise complete (c).

  • Nonqualified Deferred Compensation (a) It is intended that any payment or benefit which is provided pursuant to or in connection with this Agreement which is considered to be deferred compensation subject to Section 409A of the Code shall be paid and provided in a manner, and at such time and form, as complies with the applicable requirements of Section 409A of the Code to avoid the unfavorable tax consequences provided therein for non-compliance.

  • Catch-Up Contributions Unless otherwise elected in Section 2.4 of this amendment, all employees who are eligible to make elective deferrals under this plan and who have attained age 50 before the close of the plan year shall be eligible to make catch-up contributions in accordance with, and subject to the limitations of, Section 414(v) of the Code. Such catch-up contributions shall not be taken into account for purposes of the provisions of the plan implementing the required limitations of Sections 402(g) and 415 of the Code. The plan shall not be treated as failing to satisfy the provisions of the plan implementing the requirements of Section 401(k)(3), 401(k)(11), 401(k)(12), 410(b), or 416 of the Code, as applicable, by reason of the making of such catch-up contributions.

  • Distributions on Account of Separation from Service If and to the extent required to comply with Section 409A, no payment or benefit required to be paid under this Agreement on account of termination of the Executive’s employment shall be made unless and until the Executive incurs a “separation from service” within the meaning of Section 409A.

  • Deferred Compensation Account All Participant Deferral Credits and Employer Credits shall be credited to the Deferred Compensation Account of the Participant as provided in Section 8.

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