Vested Monthly Benefit

Example Definitions of "Vested Monthly Benefit"
Vested Monthly Benefit. A percentage of Employee's Monthly Benefit determined on the basis of the number of Employee's completed years of service during which Employee has been a party to this Agreement or a prior deferred compensation agreement with the Company, according to the following schedule: Years of Service Percentage Less than 7 years 0 % 7 years 5 % 8 years 10 % 9 years 15 % 10 years 20 % 11 years 25 % 12 years 30 % 13 years 35 % 14 years 40 % 15 years 50 % 16 years 60 % 17 years 70 % 18 years 80 % 19 years... 90 % 20 or more years 100 % A year of service for purposes of vesting shall be a consecutive 12-month period View More
Vested Monthly Benefit. A percentage of Employee's Monthly Benefit determined on the basis of the number of Employee's completed years of service during which Employee has been a party to this Agreement or a prior deferred compensation agreement with the Company, Corporation according to the following schedule: Years of Service Percentage Less than 7 years 0 % 7 years 5 % 8 years 10 % 9 years 15 % 10 years 20 % 11 years 25 % 12 years 30 % 13 years 35 % 14 years 40 % 15 years 50 % 16 years 60 % 17 years 70 % 18 years... 80 % 19 years 90 % 20 or more years 100 % A year of service for purposes of vesting shall be a consecutive 12-month period during which Employee is employed by the Corporation View More
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