Vesting Schedule for Matching Contributions Sample Clauses

Vesting Schedule for Matching Contributions. A Participant shall become Vested in his or her Individual Account derived from Matching Contributions made pursuant to Section 7 of the Adoption Agreement as follows (CHOOSE ONE): ------------------------------------------------------------------------------------------------------------------ YEARS OF VESTED PERCENTAGE VESTING SERVICE Option 1 Option 2 Option 3 Option 4 Option 5 /X/ (COMPLETE IF CHOSEN) ------------------------------------------------------------------------------------------------------------------ 1 0% 0% 100% 0% 25% 2 0% 20% 100% 0% 50% 3 0% 40% 100% 20% 75% (not less than 20%) 4 0% 60% 100% 40% 100% (not less than 40%) 5 100% 80% 100% 60% ___% (not less than 60%) 6 100% 100% 100% 80% ___% (not less than 80%) 7 100% 100% 100% 100% ___%(not less than 100%) NOTE: IF NO OPTION IS SELECTED, OPTION 3 WILL BE DEEMED TO BE SELECTED.
Sample 1See All (6)
Vesting Schedule for Matching Contributions. If there are matching contributions subject to a vesting schedule that does not satisfy EGTRRA, then unless otherwise elected below, for participants who complete an hour of service in a plan year beginning after December 31, 2001, the following vesting schedule will apply to all matching contributions subject to a vesting schedule: If the plan has a graded vesting schedule (i.e., the vesting schedule includes a vested percentage that is more than 0% and less than 100%) the following will apply: If the plan does not have a graded vesting schedule, then matching contributions will be nonforfeitable upon the completion of 3 years of vesting service. In lieu of the above vesting schedule, the employer elects the following schedule:
Sample 1Sample 2Sample 3See All (5)
Vesting Schedule for Matching Contributions. A Participant shall become Vested in his or her Individual Account derived from Matching Contributions made pursuant to Section 7 of the Adoption Agreement as follows (CHOOSE ONE): ---------------------------------------------------------------------------------------------------------------------- YERAS OF VESTED PERCENTAGE VESTING SERVICE Option 1 [ ] Option 2 [ ] Option 3 [ ] Option 4 [ ] Option 5 [ ] (complete of Chosen) ---------------------------------------------------------------------------------------------------------------------- 1 0% 0% 100% 0% 33.33% ----------- 2 0% 20% 100% 0% 66.67% ----------- 3 0% 40% 100% 20% 100%(not less than 20%) 4 0% 60% 100% 40% 100%(not less than 40%) 5 100% 80% 100% 60% 100%(not less than 60%) 6 100% 100% 100% 80% 100%(not less than 80%) 7 100% 100% 100% 100% 100%(not less than 100%) NOTE: IF NO OPTION IS SELECTED, OPTION 3 WILL BE DEEMED TO BE SELECTED.
Sample 1See All (4)
Vesting Schedule for Matching Contributions. If there are matching contributions subject to a vesting schedule that does not satisfy EGTRRA, then unless otherwise elected below, for participants who complete an hour of service in a pian year beginning after December 31, 2001, the following vesting schedule will apply to all matching contributions subject to a vesting schedule: If the plan has a graded vesting schedule (i.e., the vesting schedule includes a vested percentage that is more than 0% and less than 100%) the following will apply:
Sample 1
Vesting Schedule for Matching Contributions. A Participant shall become Vested in his or her Individual Account derived from Matching Contributions made pursuant to Section 7 of the Adoption Agreement as follows (Choose one): -------------------------------------------------------------------------------- YEARS OF VESTED PERCENTAGE VESTING SERVICE Option 1 [ ] Option 2 [ ] Option 3 [ ] Option 4 [ ] Option 5 [X] (Complete if Chosen) -----------------------------------------------------------------------------------------------------------------
Sample 1
Vesting Schedule for Matching Contributions. A Participant shall have a vested percentage in his or her Matching Contributions, if applicable, in accordance with the following schedule (select one): (1) 100% vesting immediately upon participation. (2) 100% after _______ (not more than 3) years of Vesting Service. (3) Graded vesting schedule: _____% Immediately upon participation; _____% After 1 year of Vesting Service; _____% (not less than 20%) after 2 years of Vesting Service; _____% (not less than 40%) after 3 years of Vesting Service; _____% (not less than 60%) after 4 years of Vesting Service; _____% (not less than 80%) after 5 years of Vesting Service; 100% after 6 years of Vesting Service. [X] (4) shall not be applicable because VII.A.(1) is selected above.
Sample 1
Vesting Schedule for Matching Contributions. If there are matching contributions subject to a vesting schedule that does not satisfy EGTRRA, then unless otherwise elected below, for participants who complete an hour of service in a plan year beginning after December 31, 2001, the following vesting schedule will apply to all matching contributions subject to a vesting schedule: If the plan has a graded vesting schedule (i.e., the vesting schedule includes a vested percentage that is more than 0% and less than 100%) the following will apply: 2 20 % 3 40 % 4 60 % 5 80 % 6 100 % If the plan does not have a graded vesting schedule, then matching contributions will be nonforfeitable upon the completion of 3 years of vesting service. In lieu of the above vesting schedule, the employer elects the following schedule: a. o 3 year cliff (a participant’s accrued benefit derived from employer matching contributions shall be nonforfeitable upon the participant’s completion of three years of vesting service). b. o 6 year graded schedule (20% after 2 years of vesting service and an additional 20% for each year thereafter). c. o Other (must be at least as liberal as a. or the b. above): % % % % % The vesting schedule set forth herein shall only apply to participants who complete an hour of service in a plan year beginning after December 31, 2001, and, unless the option below is elected, shall apply to all matching contributions subject to a vesting schedule. d. o The vesting schedule will only apply to matching contributions made in plan years beginning after December 31, 2001 (the prior schedule will apply to matching contributions made in prior plan years).
Sample 1
Vesting Schedule for Matching Contributions. If there are matching contributions subject to a vesting schedule that does not satisfy EGTRRA, then unless otherwise elected below, for participants who complete an hour of service in a plan year beginning after December 31, 2001, the following vesting schedule will apply to all matching contributions subject to a vesting schedule: If the plan has a graded vesting schedule (i.e., the vesting schedule includes a vested percentage that is more than 0% and less than 100%) the following will apply: Years of vesting service Nonforfeitable percentage 2 20% 3 40% 4 60% 5 80% 6 100% If the plan does not have a graded vesting schedule, then matching contributions will be nonforfeitable upon the completion of 3 years of vesting service. In lieu of the above vesting schedule, the employer elects the following schedule: a. [ ] 3 year cliff (a participant's accrued benefit derived from employer matching contributions shall be nonforfeitable upon the participant's completion of three years of vesting service). b. [ ] 6 year graded schedule (20% after 2 years of vesting service and an additional 20% for each year thereafter). c. [ ] Other (must be at least as liberal as a. or the b. above): Years of vesting service Nonforfeitable percentage ---------- ----------% ---------- ----------% ---------- ----------% ---------- ----------% ---------- ----------% The vesting schedule set forth herein shall only apply to participants who complete an hour of service in a plan year beginning after December 31, 2001, and, unless the option below is elected, shall apply to all matching contributions subject to a vesting schedule. d. [ ] The vesting schedule will only apply to matching contributions made in plan years beginning after December 31, 2001 (the prior schedule will apply to matching contributions made in prior plan years).
Sample 1
Vesting Schedule for Matching Contributions. ¨ (a) for Active Participants as of the first day of the 2002 Plan Year the Vesting Schedule selected in Article X (select one): ¨ (i) applied to Matching Contributions allocated for Plan Years beginning after December 31, 2001. ¨ (ii) applied to all Matching Contributions, including Matching Contributions accrued prior to the Plan Year beginning after December 31, 2001. ¨ (b) for a Participant who does not have an Hour of Service in a Plan Year beginning after 2001, (select one): ¨ (i) shall not apply to Matching Contributions allocated or accrued in Plan Years beginning before the first day of the Plan Year beginning in 2002. ¨ (ii) shall apply to all Matching Contributions, including Matching Contributions allocated or accrued in Plan Years beginning before the first day of the Plan Year beginning in 2002.
Sample 1
Vesting Schedule for Matching Contributions. If there are matching contributions subject to a vesting schedule that does not satisfy EGTRRA, then unless otherwise elected below for participants who complete an hour of service in a plan year beginning on December 31, 2001, the following vesting schedule will apply to all matching contributions subject to a vesting schedule: If the plan has a graded vesting schedule (i.e., the vesting schedule includes a vested percentage that is more than 0% and less than 100%) the following will apply: If the plan does not have a graded vesting schedule, then matching contributions will be nonforfeitable upon the completion of 3 years of vesting service. In lieu of the above vesting schedule, the employer elects the following schedule: a. [ ] 3 year cliff (a participant’s accrued benefit derived from employer matching contributions shall be nonforfeitable upon the participant’s completion of three years of vesting service). b. [ ] 6 year graded schedule (20% after 2 years of vesting service and an additional 20% for each year thereafter). c. [ ] Other (must be at least as liberal as a. or the b. above): The vesting schedule set forth herein shall only apply to participants who complete an hour of service in a plan year beginning after December 31, 2001, and, unless the option below is elected, shall apply to all matching contributions subject to a vesting schedule. d. [ ] The vesting schedule will only apply to matching contributions made in plan years beginning after December 31, 2001 (the prior schedule will apply to matching contributions made in prior plan years).
Sample 1