eTrade 2008 Annual Report Download - page 188

For a Participant with at least one (1) year of Vesting Service but less than three (3) years of Vesting Service as of January 1,
2004, all Employer Contributions made prior to that date will be 100% vested after one (1) year of Vesting Service. For any new
Employer Contributions made on or after January 1, 2004, the schedule above applies.
The Vesting Percentage for a Participant who is an Employee on or after the date he reaches Normal Retirement Age shall be
100%. The Vesting Percentage for a Participant who is an Employee on the date he dies shall be 100%. The Vesting Percentage
for a Participant who is an Employee on the date he becomes disabled shall be 100% if such disability is subsequently
determined to meet the definition of Totally and Permanently Disabled.
If the schedule used to determine a Participant’s Vesting Percentage is changed, the new schedule shall not apply to a Participant
unless he is credited with an Hour of Service on or after the date of the change and the Participant’s nonforfeitable percentage on
the day before the date of the change is not reduced under this Plan. The amendment provisions of the AMENDMENTS
SECTION of Article X regarding changes in the computation of the Vesting Percentage shall apply.
Vesting Service means an Employee’s Period of Service. An Employee’s Period of Service shall be measured from his
Employment Commencement Date to his most recent Severance Date. This Period of Service shall be reduced by any Period of
Severance that occurred prior to his most recent Severance Date, unless such Period of Severance is included under the service
spanning rule below. This Period of Service shall be expressed as years and fractional parts of a year (to four decimal places) on
the basis that 365 days equal one year.
However, Vesting Service is modified as follows:
Rule of parity service excluded:
An Employee’s Vesting Service, accumulated before a one-year Period of Severance, shall be excluded if:
Period of Military Duty included:
A Period of Military Duty shall be included as service with the Employer to the extent it has not already been credited.
VESTING SERVICE
(whole
y
ears)
VESTING
PERCENTAGE
Less than 3 0
3 or more
100
(a) his Vesting Percentage is zero, and
(b) his latest period of consecutive one-year Periods of Severance equals or exceeds the greater of (i) five years, or
(ii) his prior Vesting Service (disregarding any Vesting Service that was excluded because of a previous period of
one-year Periods of Severance).
RESTATEMENT DECEMBER 15, 2006
21 ARTICLE I (5-19047)