Full and immediate vesting. Upon a full or partial termination of the Plan (or in the case of a profit sharing plan, the complete discontinuance of contributions), all amounts credited to an affected Participant’s Account become 100% vested, regardless of the Participant’s vested percentage determined under Article 4. The Plan Administrator has discretion to determine whether a partial termination has occurred.
Appears in 2 contracts
Sources: Defined Contribution Plan and Trust (National Penn Bancshares Inc), Defined Contribution Prototype Plan and Trust Agreement (Mercantile Bancorp, Inc.)
Full and immediate vesting. Upon a full or partial termination of the Plan (or in the case of a profit sharing planProfit Sharing Plan, the complete discontinuance of contributions), all amounts credited to an affected Participant’s Account become 100% vested, regardless of the Participant’s vested percentage determined under Article 4Section 6.02. The Plan Administrator has discretion to determine whether a partial termination has occurred.
Appears in 1 contract
Sources: Governmental Nonstandardized Defined Contribution Plan