NetSpend 2011 Annual Report Download - page 146

Download and view the complete annual report

Please find page 146 of the 2011 NetSpend annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 173

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173

accordance with Section 4.6 will be required to file a new Compensation Deferral Agreement under this Article IV in order to
recommence Deferrals under the Plan.
4.3
Allocation of Deferrals. A Compensation Deferral Agreement may allocate Deferrals to one or more Specified Date Accounts and/or
to the Termination Account. The Committee may, in its discretion, establish a minimum deferral period for the establishment of a
Specified Date Account (for example, the third Plan Year following the year Compensation is first allocated to such accounts).
4.4
Deductions from Pay. The Committee has the authority to determine the payroll practices under which any component of
Compensation subject to a Compensation Deferral Agreement will be deducted from a Participant’s Compensation.
4.5
Vesting. Participant Deferrals shall be 100% vested at all times.
4.6
Cancellation of Deferrals. The Committee may cancel a Participant’s Deferrals: (i) for the balance of the Plan Year in which an
Unforeseeable Emergency occurs, (ii) if the Participant receives a hardship distribution under the Employer’s qualified 401(k) plan,
through the end of the Plan Year in which the six month anniversary of the hardship distribution falls, and (iii) during periods in which
the Participant is unable to perform the duties of his or her position or any substantially similar position due to a mental or physical
impairment that can be expected to result in death or last for a continuous period of at least six months, provided cancellation occurs
by the later of the end of the taxable year of the Participant or the 15 day of the third month following the date the Participant incurs
the disability (as defined in this paragraph).
ARTICLE V.
Company Contributions
5.1
Discretionary Company Contributions. The Participating Employer may, from time to time in its sole and absolute discretion, credit
Company Contributions to any Participant in any amount determined by the Participating Employer. Such contributions will be
credited to a Participant’s Termination Account.
5.2
Vesting. Company Contributions described in Section 5.1 above, and the Earnings thereon, shall vest in accordance with the vesting
schedule(s) established by the Committee at the time that the Company Contribution is made. Unless a vesting schedule established by
the Committee (prior to the date of the Company Contribution) provides otherwise, a Company Contribution shall become 100%
vested upon the occurrence of the earliest of: (i) the death of the Participant while actively employed, (ii) the disability of the
Participant, (iii) Termination of the Participant after age 55, or (iv) a Change in Control. The Participating Employer may, at any
time, in its sole discretion, increase a Participant’s vested interest in a Company Contribution. The portion of a Participant’s
11
th