WYN » Topics » Article VI - Vesting

These excerpts taken from the WYN 8-K filed Jul 19, 2006.

Article VI - Vesting

6.1 Vesting. A Participant’s Deferral Contributions and any related Earnings shall at all times be fully vested.

ARTICLE 6-VESTING

 

6.1 General

A Participant shall be immediately vested in, i.e., shall have a nonforfeitable right to, all Elective Deferrals, and all income and gain attributable thereto, credited to his or her Account. A Participant shall become vested in the portion of his or her Account attributable to Matching Deferrals and income and gain attributable thereto in accordance with the schedule selected by the Employer, subject to earlier vesting in accordance with Sections 6.3 and 6.4.

 

6.2 Vesting Service

For purposes of applying the vesting schedule in the Adoption Agreement, a Participant shall be considered to have completed a Year of Service for each complete year of full-time service with the Employer or an affiliate, measured from the Participant’s first date of such employment, unless the Employer also maintains a 401(k) plan that is qualified under section 401(a) of the Internal Revenue Code in which the Participant participates, in which case the rules governing vesting service under that plan shall also be controlling under this Plan.

 

6.3 Change of Control

A Participant shall become fully vested in his or her Account immediately prior to a Change of Control of the Employer.


6.4 Death or Disability

A Participant shall become fully vested in his or her Account immediately prior to termination of the Participant’s employment by reason of the Participant’s death or Disability.

EXCERPTS ON THIS PAGE:

8-K (2 sections)
Jul 19, 2006

"Article VI - Vesting" elsewhere:

Marriott International (MAR)
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