This excerpt taken from the ADS 10-Q filed May 11, 2009.
ARTICLE VI VESTING
6.1 Vesting. Participants are always 100% vested in their Associate Contributions and the earnings on these contributions. Participants shall be 100% vested in their Company Contributions and the earnings thereon, after being credited with three (3) Years of Vesting Service under the Qualified Plan, and until then shall be totally unvested. If a Participant separates from service and receives a payout of his vested Account at a time when the Account is not fully vested, the Participant will forfeit the nonvested portion of the Account; and the forfeiture shall not be restored for any reason, including a subsequent reemployment. Forfeitures shall be used to offset future Company Contributions. Upon termination of the Plan, unallocated forfeitures shall be returned to the Employer.
6.2 Change of Control. In the event of a Change of Control, all Participants shall be 100% vested in their Company Contributions, notwithstanding Section 6.1.
These excerpts taken from the ADS 10-Q filed Aug 8, 2008.
Years of Vesting
|Bigfoot Interactive, Inc. (Bigfoot)||Date of hire by Bigfoot, but only if employed by the Company as of September 24, 2005.||Date of hire by Bigfoot, but only if employed by the Company as of September 24, 2005.|
IN WITNESS WHEREOF, this amendment has been executed on this 20th day of December, 2005, but effective as provided above.
|ADS ALLIANCE DATA SYSTEMS, INC.|