Each employee who was a participant in the plan on the day prior
to the restatement date shall continue to be a participant on and
after the restatement date, subject to the terms and conditions of
the plan as set forth herein. Each other person shall become a participant
on the first day of employment, provided that the participant completes
all necessary forms authorizing payroll deduction of employee contributions.
Each participant hereunder shall be required to make contributions to the plan, as provided in §
46-8 hereof, and shall execute and complete any enrollment or application forms as required by the Plan Administrator authorizing payroll deduction of such contributions. No employee shall be eligible to participate hereunder until any and all such forms are completed and delivered to the Plan Administrator.
Each person that had previously been an active participant in the plan and who shall have ceased being an active participant for any reason shall be eligible to participate pursuant to §
46-2 as of the date such eligibility requirements are met.
In the event that a participant who remains in the service of
the employer ceases to be an employee eligible for participation hereunder,
or who ceases or fails to make any contributions which are required
as a condition of participation hereunder, no further benefit accruals
shall occur until the participant again qualifies under such participation
requirements.
During any leave of absence that is not an authorized leave
of absence, a participant shall be deemed an inactive participant
and shall not be given credit for years of credited service for vesting,
benefit calculation or any other purpose under the plan, nor shall
any benefits accrue hereunder. If the employee is not reemployed by
the expiration of the leave of absence, participation in the plan
shall cease on the date on which the leave of absence commenced.
The employer shall furnish the Administrator with such information
as will aid the Administrator in the administration of the plan. Such
information shall include all pertinent data on employees for purposes
of determining their eligibility to participate in this plan initially
and subsequently.