ZBRA » Topics » Note: An early vesting provision generally does not result in prohibited acceleration of benefits under Code 409A. See Section 4.03(C).

This excerpt taken from the ZBRA 10-Q filed Apr 30, 2008.

Note: An early vesting provision generally does not result in prohibited acceleration of benefits under Code §409A. See Section 4.03(C).

3.03 Application of Forfeitures. The Employer will (choose only one of (a) – (d)):

 

[    ] (a) Not Applicable. Not apply any provision regarding allocation of forfeitures since there are no Plan forfeitures.

 

[X] (b) Retain. Keep all forfeitures for the Employer’s account.

 

[    ] (c) Allocate. Allocate (in the year in which the forfeiture occurs) any forfeiture to the Accounts of the remaining (nonforfeiting) Participants, in accordance with one of the following methods (choose only one):

 

  [    ] (i) Per Compensation. In the same ratio each Participant’s Compensation for the Taxable Year bears to the total Compensation of all Participants sharing in the forfeiture allocation for the Taxable Year.

 

  [    ] (ii) Per Account balances. In the same ratio each Participant’s Account balance at the beginning of the Taxable Year bears to the total Account balances of all Participants sharing in the forfeiture allocation for the Taxable Year.

 

  


Nonqualified Deferred Compensation Plan

Adoption Agreement

 

[    ] (d) (Specify):                                                                                                                                                                                    .
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