BASIC ESOP ADMINISTRATION - The ESOP Association

John Burgess - Seyfarth Shaw LLPJonathan Markham – Blue Ridge ESOP AssociatesVesting• Year of Service – generally 1,000 hours in a planyear.▫ The hour requirement can be less than 1,000▫ Years of Service can be based off of elapsed time▫ Years of Service prior to the effective date of theplan can be excluded or partially counted▫ Years of Service prior to age 18 can be excluded