(a) Vesting.

A participating boxer shall become vested in the amount credited to the participating boxer's regular account when the participating boxer has:

(b) Scheduled Rounds for Vesting.

A participating boxer shall be credited for fighting in one (1) round for each scheduled round of professional boxing fought in California in a commission-approved bout as part of a contest in which at least one (1) round was commenced after June 30, 1978; provided however, that the boxer must fight in at least twenty (20) scheduled rounds in the thirty-six (36) calendar month period following July 1, 1981, in order to receive any credit for scheduled rounds fought beginning after June 30, 1978 but prior to July 1, 1981.

(c) Refund of Unvested Pre-1996 Boxer Contributions.

A separate refund account shall be created on the records of the Plan as of May 1, 1996, which shall contain all unvested boxer contributions made prior to May 1, 1996, for all boxers who have incurred a break in service as of April 30, 1996 under the terms of the Plan as it existed prior to such date. The commission will continue to invest and safeguard those assets within the investment vehicle in which it is investing the participating boxers and covered boxers accounts.

On or after May 1, 1996 a participating boxer who has not vested but who has contributed a portion of his or her purse (under the provisions of this Plan in this article in effect prior to May 1, 1996), and who has incurred a break in service may request a refund from the commission of the pre-1996 amounts contributed by him or her, plus 6% interest up to May 1, 1996 and plus his or her share of applicable earnings allocated to his or her account since that date. No boxer who has vested and become a covered boxer is eligible for such a refund. All amounts not claimed by these boxers before January 1, 2000, shall constitute forfeitures and shall be allocated in accordance with section 403(c), in three (3) equal installments for the plan years ending December 31, 1999, December 31, 2000, and December 31, 2001.

(d) Forfeited Vested Account.

If, according to the records of the commission, a participating boxer has reached age 50 and the participating boxer or his or her beneficiary has not made a claim for benefits, the participating boxer's accrued benefit shall be held until the last day of the third plan year after the participating boxer reached age 50, at which time it shall be reallocated pursuant to section 403(c) and 403(d); provided, however, that if a claim is later made by the participating boxer or beneficiary for the forfeited vested account, the commission shall reinstate the amount of the vested account balance that had been forfeited, unadjusted by any gains or losses attributable to such amount. Such reinstatement shall be made from the forfeiture reserve account pursuant to 403(d).

(e) Vesting of Pre-1996 Regular Account Balance.

Each participating boxer who is not a covered boxer as of May 1, 1996 shall continue to accrue credit towards vesting in his or her regular account balance under the terms of this Plan. In the event a participating boxer with a regular account balance attributable to pre-1996 contributions incurs a break in service before becoming a covered boxer, the portion of such boxer's regular account balance attributable to amounts other than boxer contributions, if any, shall be placed in the suspense account and shall be reallocated with other forfeitures under the terms of this restated Plan.