Common use of Vesting and Forfeitures Clause in Contracts

Vesting and Forfeitures. The Special Retirement K Matching Contribution shall vest under the same vesting schedules specified in Section 8.3. Moreover, the Administrative Committee may direct that amounts in the Forfeiture Account be used to reduce the amount of the Company’s Special Retirement K Matching Contribution.

Appears in 2 contracts

Sources: 401(k) Plan and Trust Agreement (Leggett & Platt Inc), 401(k) Plan and Trust Agreement (Leggett & Platt Inc)

Vesting and Forfeitures. The Special Retirement K Matching Contribution Contributions shall vest under the same vesting schedules specified in Section 8.3. Moreover, the Administrative Committee may direct that amounts in the Forfeiture Account be used (whether or not attributable to reduce the amount of the Company’s Special Retirement K Matching ContributionContributions) be utilized to reduce future Retirement K Matching Contributions.

Appears in 2 contracts

Sources: 401(k) Plan and Trust Agreement (Leggett & Platt Inc), 401(k) Plan and Trust Agreement (Leggett & Platt Inc)