Changes in Vesting Schedule Clause Samples

Changes in Vesting Schedule. After the adoption of any amendment that changes the vesting schedule or that directly or indirectly affects the computation of a Participant’s vested percentage, any Participant having 3 or more years of service will have his vested percentage determined under whichever vesting schedule gives him the higher vested percentage.

Changes in Vesting Schedule. Notwithstanding anything herein to the contrary, each Participant who has been credited with three (3) or more Years of Service for vesting purposes as of the date any modification of the schedule used to determine such Partici pant's vested percentage in his Accrued Benefit becomes effective shall have the right to elect, during the period beginning with the effective date of such modification and ending on the later of (a) the date which is sixty (60) days after such date or (b) the date which is sixty (60) days after the date upon which such Participant is provided with written notice of such modification, to elect to have his vested percentage in his Accrued Benefit determined in accordance with the schedule in effect prior to such modi fication.

Changes in Vesting Schedule. Notwithstanding the above: i. this Option shall expire on the Expiration Date and must be exercised, if at all, on or before the Expiration Date. The portion of Shares as to which the Option is exercisable in accordance with the above schedule as of the applicable dates shall be deemed “Vested Options”; and ii. if the Company is subject to Change in Control (as defined below) before the Option is fully vested, then the Option will accelerate and automatically become 100% vested and immediately exercisable for all Shares. For the purposes hereof, a "Change in Control" shall mean: a. a reorganization, merger, consolidation or sale of all or substantially all of the assets of the Company, or a similar transaction in which the shareholders of the Company prior to such transaction fail to hold a majority o the voting power of the resulting entity; b. individuals who constitute the Incumbent Board (as herein defined) of the Company cease for any reason to constitute a majority thereof;

Changes in Vesting Schedule. If the Plan is amended at any time and such amendment directly or indirectly affects the computation of the nonforfeitable interest of a Participant in his or her Accounts, such amendment shall apply to any Participant who has completed three years of Credited Service as of the end of the period described below only to the extent that the Participant's nonforfeitable interest in his or her Accounts is equal to or greater than such interest determined without regard to the amendment. The period referred to in the preceding sentence will begin on the date the amendment of the vesting schedule is adopted and will end on the date which is 60 days after the later of (a) the date on which such amendment is adopted and (b) the date on which such amendment becomes effective.

Changes in Vesting Schedule. If an amendment directly or indirectly affects the computation of a Participant's nonforfeitable percentage of his or her Account or if the Plan's vesting schedule changes as a result of a change in the Plan's status as a Top-Heavy Plan (as described in (S)12.4), each Participant with at least 3 years of service with the Employer or an Affiliate may elect, within a reasonable period after the adoption of the amendment, to have the nonforfeitable percentage of his or her Account computed under this Plan without regard to such amendment, in the case of a Participant who does not have at least one Hour of Service in any Plan Year beginning after December 31, 1988, the preceding sentence shall be applied by substituting 5 years of service for 3 years of service. The period during which the election may be made shall commence with the date the amendment is adopted and shall end on the later of

Changes in Vesting Schedule. If the Plan's vesting schedule is amended, or the Plan is amended in any way that directly or indirectly affects the computation of a Participant's vested percentage (of if the Plan changes to or from a top-heavy vesting schedule), each Participant who has completed 3 Years of Service (determined under Section 2.43, but without regard to sub- paragraphs (ii), (iii) and (iv) thereof) may elect, within the period described below, to have his or her vested percentage determined without regard to such amendment or change. The period referred to in the preceding sentence will begin on the date the amendment of the vesting schedule is adopted and will end 60 days after the latest of the following dates: (a) the date on which such amendment is adopted; (b) the date on which such amendment becomes effective; and (c) the date on which the Participant is issued written notice of such amendment by the Committee.

Changes in Vesting Schedule. Notwithstanding the above, if the Company is subject to Change in Control (as defined in the Plan), the Shares will no longer be subject to forfeiture pursuant to Section 2(a) herein and shall be deemed fully vested.

Changes in Vesting Schedule. No amendment shall reduce the nonforfeitable percentage of a Participant's accrued benefit (determined as of the later of the date such amendment is adopted or the date such amendment becomes effective). Further, if the Plan's vesting schedule is amended, or the Plan is amended in any way that directly or indirectly affects the computation of the Participant's nonforfeitable percentage, or if the Plan is deemed amended by an automatic change to or from a top-heavy vesting schedule, each Participant with at least 5 Years of Service (3 Years of Service for Plan Years beginning after December 31, 1988 with respect to Participants with at least one Hour of Service in a Plan Year beginning after December 31, 1988) with the Employer may elect, within a reasonable period after the adoption of the amendment, to have the nonforfeitable percentage computed under the Plan without regard to such amendment. The period during which the election may be made shall commence with the date the amendment is adopted and shall end on the latest of: (1) 60 days after the amendment is adopted; (2) 60 days after the amendment becomes effective; or (3) 60 days after the Participant is issued written notice of the amendment by the Employer or Administrator.

Changes in Vesting Schedule. No amendment shall reduce the nonforfeitable percentage of a Participant’s accrued benefit (determined as of the later of the date such amendment is adopted or the date such amendment becomes effective). Further, if the Plan’s vesting schedule is amended, or the Plan is amended in any way that directly or indirectly affects the computation of the Participant’s nonforfeitable percentage, each Participant with at least 3 Vesting Years may elect, within a reasonable period after the adoption of the amendment, to have the nonforfeitable percentage computed under the Plan without regard to such amendment. The period during which the election may be made shall commence with the date the amendment is adopted and shall end on the latest of: