Supercuts 2007 Annual Report Download - page 155
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(b)
The Participant’s vested percentage in Employer Contributions elected in Section 1.05(c) shall be based upon the schedule
(s) selected below.
(1) 32N/A - No Employer Contributions
(2) 32100% Vesting immediately
(3) 323 year cliff (see C below)
(4) 325 year cliff (see D below)
(5) 26 year graduated (see E below)
(6) 327 year graduated (see F below)
(7) 32G below
(8) 32Other (Attachment “B”)
(c) 32 Years of Service for Vesting shall exclude (check one) :
(1) 32
for new plans, service prior to the Effective Date as defined in Section 1.01(d)(1).
(2) 32
for existing plans converting from another plan document, service prior to the original Effective Date as
defined in Section 1.01(d)(2).
(d) 32
A Participant will forfeit his Matching Contributions and Employer Contributions upon the occurrence of the
following event (s):
(e)
A Participant will be 100% vested in his Matching Contributions and Employer Contributions upon (check the
appropriate box(es), if any; if 1.06(c) is selected, Participants will automatically vest upon Change of Control as defined
in Section 1.12):
(1) 2 Normal Retirement Age (as defined in Section 1.07(f)).
(2) 32 Early Retirement Age (as defined in Section 1.07(g)).
(3) 2 Death.
8
Years of
Service for
Vesting Schedule
Vesting
C
D
E
F
G
0
0
%
0
%
0
%
0
%
1
0
%
0
%
0
%
0
%
2
0
%
0
%
20
%
0
%
3
100
%
0
%
40
%
20
%
4
100
%
0
%
60
%
40
%
5
100
%
100
%
80
%
60
%
6
100
%
100
%
100
%
80
%
7
100
%
100
%
100
%
100
%
100
%