Eligibility and Vesting. Following completion of five (5) years of such service to BCCHS, the contributions set aside in reserve shall then be transferred from the BCCHS reserve account to the employee’s individual Retirement Savings Account. Once transferred to the individual account, the employee will be fully vested in the contributions and any further contributions thereafter shall be made by BCCHS directly into the individual account for each vested employee. Unit members who cease employment prior to vesting will have no legal right to any contributions set aside in the reserve account. For those unit members meeting eligibility requirements and five (5) years of service, any BCCHS contributions shall be made directly into the unit members’ individual Retirement Savings Accounts.
Eligibility and Vesting. Years of service, as defined in the applicable Blue River employee welfare or pension benefit plan, with SCSB prior to the Effective Time shall be credited to each employee of SCSB eligible for coverage under Section 7.03(a) hereof for purposes of (i) eligibility under Blue River's employee welfare benefit plans; and (ii) eligibility and vesting, but not for purposes of benefit accrual or contributions, under the Blue River Employees' Savings and Profit Sharing Plan ("Blue River Profit Sharing Plan"). The employees of SCSB shall become covered by Blue River's employee pension and welfare benefit plans at such time(s) as shall be specified by Blue River in its sole discretion, subject to Section 7.03(a) hereof. The service credit provided by this Section 7.03(b) will become effective for a plan on the date Blue River specifies pursuant to the preceding sentence. Those officers and employees of SCSB who otherwise meet the eligibility requirements of the designated plan, based upon their age and years of service for SCSB and Blue River, shall become participants thereunder on the entry date which coincides with or next follows the specified date. Those officers and employees of SCSB who do not meet the eligibility requirements of the designated plan on such date shall become participants thereunder on the first plan entry date which coincides with or next follows the date on which such eligibility requirements are satisfied.
Eligibility and Vesting. Except as otherwise provided in Section 4.11 ----------------------- and Article V hereof, upon incurring Termination, a Participant shall receive a supplemental benefit under this Plan (a "Supplemental Benefit"), which Supplemental Benefit shall be paid to the extent vested, in such form and amounts, and at such times, as provided under this Plan. Notwithstanding the foregoing, and except as otherwise provided in Sections 4.09 and 4.10 hereof, a Participant who incurs a Termination shall be entitled to receive a Supplemental Benefit under this Plan only to the extent such Participant is vested in such Benefit. A Supplemental Benefit shall vest and become nonforfeitable up to a maximum of 100% as follows: SERVICE YEARS VESTED PERCENTAGE ------------------------------- --------------------- Less than 6 years 0% 6 years but less than 7 years 10% 7 years but less than 8 years 20% 8 years but less than 9 years 30% 9 years but less than 10 years 40% 10 years but less than 11 years 50% 11 years but less than 12 years 60% 12 years but less than 13 years 70% 13 years but less than 14 years 80% 14 years but less than 15 years 90% 15 or more years 100% A Supplemental Benefit shall also be 100% vested upon the death of a Participant.
Eligibility and Vesting. Shank shall be eligible to receive benefits under the Agreement, if at all, pursuant to the terms hereof. Subject to Article VIII, Shank shall be entitled to receive a Supplemental Retirement Benefit pursuant to Section 3.2 if he is employed by LS&CO. or an Affiliated Company until his Retirement Date, or if such employment earlier terminates because of his Disability.
Eligibility and Vesting. Eligibility for benefits under this Plan will be limited to Xxxxxxx X. Xxxxx. Except as otherwise provided in Section 1.04(d), the Participant will not be entitled to receive any benefits under this Plan unless he becomes vested under Section 2.62 of the NGPP (see Exhibit A).
Eligibility and Vesting. Years of service, as defined in the applicable Blue River employee welfare or pension benefit plan, with SCSB prior to the Effective Time shall be credited to each employee of SCSB eligible for coverage under Section 7.03(a) hereof for purposes of (i) eligibility under Blue River's employee welfare benefit plans; and (ii) eligibility and vesting, but not for purposes of benefit accrual or contributions, under the Blue River Employees' Savings and Profit Sharing Plan ("Blue River Profit Sharing Plan"). The employees of SCSB shall become covered by Blue River's employee pension and welfare benefit plans at such time(s) as shall be specified by Blue River in its sole discretion, subject to Section 7.03(a) hereof. The service credit provided by
Eligibility and Vesting. Employees of the Company and its Subsidiaries shall receive credit for purposes of eligibility to participate and vesting (but not for benefit accruals under any defined benefit pension plan) under any employee benefit plan, program or arrangement established or maintained by the Surviving Corporation or any of its U.S. affiliates for service accrued prior to the Effective Time with the Company or any of its Subsidiaries to the extent such employee may be eligible to participate on or after the Effective Time to the same extent recognized by the Company or any of its Subsidiaries under comparable plans immediately prior to the Effective Time. However, such crediting of service shall not operate to duplicate any benefit or the funding of any such benefit.
Eligibility and Vesting. For purposes of eligibility, vesting and, except with respect to any pension benefit plan or retiree medical plan, calculation of benefits (except to the extent crediting such service would result in the duplication of benefits) under each of Parent’s or Surviving Entity’s employee benefit plans, programs and arrangements in which a Continuing Employee participates (including, without limitation, for purposes of vacation accrual), Parent shall grant, or shall cause the Surviving Entity to grant, each such employee with credit for all service with Company to the extent permitted by law.
Eligibility and Vesting
