Vesting Schedules. The vested interest of each Employee (who has an Hour of Service on or after January 1, 1989) in his Employer-derived account balance shall be determined on the basis of the following schedules:
A. Employer Discretionary Contributions.
Vesting Schedules. For any Plan Year in which this Plan is Top-Heavy, one of the Top Heavy minimum vesting schedules as elected by the Employer in the Adoption Agreement will automatically apply to the Plan. The Top Heavy Minimum vesting schedule applies to all benefits within the meaning of section 411(a)(7) of the Code except those attributable to Employee contributions, including benefits accrued before the effective date of section 416 of the Code and benefits accrued before the Plan became Top-Heavy. Further, no reduction in a vested benefit may occur in the event the Plan's status as Top-Heavy changes for any Plan Year. However, this Section does not apply to the account balance of any Employee who does not have an Hour of Service after the Plan has initially become Top-Heavy and such Employee's account balance attributable to Employer contributions and forfeitures will be determined without regard to this Section.
Vesting Schedules. The Employer must select either the two-twenty vesting schedule option [(B)(4)] or the three-year cliff vesting schedule [(B)(3)] to apply in any Plan Year in which the Plan is Top-Heavy. The percentages selected for option (B)(5) may not be less for any year than the percentages shown at option (B)(4). Any switch to a Top-Heavy schedule will remain in effect even if the Plan later falls out of Top-Heavy status unless the Employer executes an amendment to this Adoption Agreement. If a Participant has at least three (3) Years of Service for vesting purposes at the time of the amendment, the Plan must provide that Participant the option of remaining on the vesting schedule in effect prior to such amendment.
Vesting Schedules. A. (Choose 1, 2, 3, 4, 5, 6 or 7) Schedule Years of Employment Vested % -------- ------------------- --------
1. Immediate Upon Enrollment 100% ---
Vesting Schedules. For purposes of the Employer's elections under its Adoption Agreement, "6-year graded," "3-year cliff," "7-year graded" or "5-year cliff" means an Employee's Vested percentage, based on each included Year of Service, under the following applicable schedule:
Vesting Schedules. Apply the following vesting schedules to amounts in Accounts attributable to the following Contribution Types, other than the portion of an Account consisting of QACA Safe Harbor Contributions (Choose one or more of (1) through (6). If (6) is elected,
(1) (2) (3) (4) Nonelective Matching
Vesting Schedules. [X] (a) 100% vesting immediately upon participation in the Plan. (Frozen Profit Sharing) MC [X] (b) Five-Year Graded Schedule: Vested Percentage 20% 40% 60% 80% 100% Years of Service 1 2 3 4 5 [ ] (c) Seven-Year Graded Schedule: Vested Percentage 20% 40% 60% 80% 100% Years of Service 3 4 5 6 7 [ ] (d) Six-Year Graded Schedule: Vested Percentage 20% 40% 60% 80% 100% Years of Service 2 3 4 5 6 [ ] (e) Three-Year Cliff Schedule: Vested Percentage 0% 100% Years of Service 0-2 3 [ ] (f) Five-Year Cliff Schedule: Vested Percentage 0% 100% Years of Service 0-4 5 [ ] (g) Other Schedule (must be at least as favorable as Seven-Year Graded Schedule or Five-Year Cliff Schedule):
(i) Vested Percentage ___% ___% ____% ___% ___%
(ii) Years of Service ___ ___ ____ ___ ___
Vesting Schedules. Select the appropriate schedule for each contribution type and complete any blank vesting percentages from the list below and insert the option number in the vesting schedule chart below.
1. Full and immediate Vesting
2. 100%
3. 100%
4. 20% 40% 60% 80% 100% 5. ___% ___% 20% 40% 60% 80% 100% 6. 10% 20% 30% 40% 60% 80% 100% 7. ___% ___% ___% ___% 100% 8. ___% ___% ___% ___% ___% ___% 100% The percentages selected for schedule (8) may not be less for any year than the percentages shown at schedule (5 ). Vesting Schedule Chart Employer Contribution Type ---------------------- ---------------------------------------------------- 1 All Employer Contributions ______________________ Safe Harbor Contributions (Matching or Non-Elective) 1 QMACs and QNECs ______________________ Non-Safe Harbor Match - Formula 1 ______________________ Non-Safe Harbor Match - Formula 2 ______________________ Match on Voluntary After-tax Contributions ______________________ Match on Required After-tax Contributions ______________________ Discretionary Contributions 1 Top-Heavy Minimum Contribution ______________________ Other Employer Contribution 29 Section 401(k) Plan AA #010
Vesting Schedules. The percentage of the Total Number of SARs (as it may be adjusted from time to time) shall vest on the respective dates if the SARs Holder is employed by the Company on the date(s) indicated below: Vesting Date # of Total SARs Vested % of Total # of SARs Vested March 31, 2011 33.3% March 31, 2012 33.3% March 31, 2013 33.3%
Vesting Schedules. Select the appropriate schedule for each contribution type and complete any blank vesting percentages from the list below and insert the option number in the vesting schedule chart below.
