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The amounts you contribute to the Directed Account Plan as Before-Tax Contributions, Catch-Up Contributions and Rollover Contributions are 100% vested (you own the money) at all times and will never be forfeited.

The amounts contributed on your behalf as Employer Matching Contributions or Profit Sharing Contributions are 100% vested upon your retirement, death or permanent disability. If you terminate employment for any reason other than retirement, death or permanent disability, before you have completed four “years of service for vesting,” the amount of such contributions made by your Employer on your behalf will be vested (when you will own the money and what percentage you will own) according to the following schedule:

Years of Service Vested Percentage
Less than 1 0%
1 25%
2 50%
3 75%
4 100%

When you attain the normal retirement age, you will never lose your right to the amounts attributable to your Employer Matching Contributions and Profit Sharing Contributions. Normal retirement age, for participants who entered the plan after November 1, 2008, age 65 provided you have three years of service. Also, you or your beneficiary will never forfeit any of your Employer Matching Contributions or Profit Sharing Contributions in the event of termination of employment because of your death or permanent disability.

A “year of service for vesting” means any Plan Year in which you complete at least 1,000 hours of service. You will not receive any service credit for vesting for less than 1,000 hours of service. An “hour of service” is any hour for which you are paid or entitled to payment.

A determination of whether you qualify for benefits under permanent disability will be made by the issuer of the primary disability insurance policy covering employees of your Employer, if any, or if no policy is in effect, the determination will be made according to the Social Security Act.

If you terminate employment without full vesting and are later rehired by the Company or an affiliated company, any unvested amount you forfeited may be restored in some circumstances.

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