Vesting due to Certain Events. (a) A participant who incurs a Separation from Service due to Retirement shall be fully vested in the amounts credited to his or her Account as of the date of Retirement. (b) A Participant who incurs a Separation from Service due to Disability shall be fully vested in the amounts credited to his or her Account as of the date of Disability. (c) Upon a Participant’s death, the Participant shall be fully vested in the amounts credited to his or her Account. (d) Upon a Change-in-Control, all Participants shall be fully vested in the amounts credited to their Accounts as of the date of the Change-in-Control. (e) Upon termination of employment prior to attaining Normal Retirement Age, the participant shall be fully vested in the amounts credited to his or her account.
Appears in 2 contracts
Sources: Nonqualified Deferred Compensation Plan Agreement (Uwharrie Capital Corp), Nonqualified Deferred Compensation Plan (Uwharrie Capital Corp)