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These excerpts taken from the DVA 10-K filed Feb 29, 2008. 2.3 Vesting.
(a) Subject to the following rules of this Section 2.3, Participants shall obtain a vested right to the contributions (and the earnings on those amounts) on their behalf at the rate of one-third on each anniversary of the date on which the contribution was actually made (Vesting Date).
(b) Participants who die or become Disabled (as that term is defined in the Companys long-term disability plan) while employed by the Company will automatically become fully vested in all the amounts in their accounts on that date.
(c) On the date of a Change in Control of the Company (as that term is defined in the Appendix), all current employees will become fully vested.
(d) On the date of a Reduction in Force (as that term is defined in the Appendix), all affected employees will become fully vested.
(e) If a Participants employment terminates under conditions where some or all of his or her benefit is not fully vested, the unvested portion will be immediately and permanently forfeited. The forfeitures will be used in the manner prescribed by the Committee, except that no amounts may be returned to the Company. It is anticipated that the forfeitures will be:
(i) First used to pay Plan administrative expenses, with
(ii) Any remaining amounts allocated to the remaining Participants at the time of Plan termination. This allocation will be made in the same ratio as the original contribution was made among those individuals.
2.3
(a) Subject to the
(b) (c) On the date of a Change in Control of the Company (as STYLE="margin-top:0px;margin-bottom:0px; margin-left:4%; text-indent:4%">(d) On the date of a Reduction in Force (as that term is defined in the Appendix), all affected employees will become fully vested.
(e) If a Participants employment STYLE="margin-top:0px;margin-bottom:0px; margin-left:8%; text-indent:4%">(i) First used to pay Plan administrative expenses, with (ii) Any remaining amounts allocated to the remaining Participants at the time of Plan termination. This allocation will be | EXCERPTS ON THIS PAGE:
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