Common use of Vesting Provisions Clause in Contracts

Vesting Provisions. Notwithstanding the provisions of Section 6.3, with respect to any Plan Year in which this Plan is determined to be a Top-Heavy Plan, a Participant's Accrued Benefit which is derived from Company Contributions shall vest in accordance with the following vesting schedule if it would result in a larger vested percentage than the percentage determined under Section 6.3: Period of Service Vested Percentage Less than two (2) years 0 Two (2) years or more but less than three (3) years 20% Three (3) years or more but less than four (4) years 40% Four (4) years or more but less than five (5) years 60% Five (5) years or more but less than six (6) years 80% Six (6) years or more 100% provided, however, that if this Plan becomes a Top-Heavy Plan and subsequently ceases to be such: (a) the vesting schedule shown above shall continue to apply but only with respect to Participants whose Period of Service is as least three (3) years as of the Anniversary Date of the final Top-Heavy Plan Year, (b) the vesting schedule shown above shall continue to apply but only with respect to the Accrued Benefits of all other Participants as of the Anniversary Date of the final Top-Heavy Plan Year, and (c) the vesting schedule in Section 6.3 shall apply to any additional Accrued Benefits of the Participants described in Subsection (b) above which accrue after the Anniversary Date of the final Top-Heavy Plan Year.

Vesting Provisions. Notwithstanding the provisions of Section 6.3, with respect to any Plan Year in which this Plan is determined to be a Top-Heavy Plan, a Participant's Accrued Benefit which is derived from Company Contributions shall vest in accordance with the following vesting schedule if it would result in a larger vested percentage than the percentage determined under Section 6.3: -45- Period of Service Vested Percentage Less than two (2) years 0 Two (2) years or more but less than three (3) years 20% Three (3) years or more but less than four (4) years 40% Four (4) years or more but less than five (5) years 60% Five (5) years or more but less than six (6) years 80% Six (6) years or more 100% provided, however, that if this Plan becomes a Top-Heavy Plan and subsequently ceases to be such: (a) the vesting schedule shown above shall continue to apply but only with respect to Participants whose Period of Service is as least three (3) years as of the Anniversary Date of the final Top-Heavy Plan Year, (b) the vesting schedule shown above shall continue to apply but only with respect to the Accrued Benefits of all other Participants as of the Anniversary Date of the final Top-Heavy Plan Year, and (c) the vesting schedule in Section 6.3 shall apply to any additional Accrued Benefits of the Participants described in Subsection (b) above which accrue after the Anniversary Date of the final Top-Heavy Plan Year.

Vesting Provisions. Notwithstanding the provisions of Section 6.3, with respect to any Plan Year in which this Plan is determined to be a Top-Heavy Plan, a Participant's ’s Accrued Benefit which is derived from Company Contributions shall vest in accordance with the following vesting schedule if it would result in a larger vested percentage than the percentage determined under Section 6.3: Period of Service Vested Percentage Less than two (2) years 0 Two (2) years or more but less than three (3) years 20% Three (3) years or more but less than four (4) years 40% Four (4) years or more but less than five (5) years 60% Five (5) years or more but less than six (6) years 80% Six (6) years or more 100% provided, however, that if this Plan becomes a Top-Heavy Plan and subsequently ceases to be such: (a) the vesting schedule shown above shall continue to apply but only with respect to Participants whose Period of Service is as least three (3) years as of the Anniversary Date of the final Top-Heavy Plan Year, (b) the vesting schedule shown above shall continue to apply but only with respect to the Accrued Benefits of all other Participants as of the Anniversary Date of the final Top-Heavy Plan Year, and (c) the vesting schedule in Section 6.3 shall apply to any additional Accrued Benefits of the Participants described in Subsection (b) above which accrue after the Anniversary Date of the final Top-Heavy Plan Year.