Common use of Eligible Regular Employees Clause in Contracts

Eligible Regular Employees. Subject to the terms and conditions of the Master Plan, a Participant who is an Eligible Regular Employee and whose employment is terminated for any reason other than death or retirement shall earn a vested right in his accrued retirement benefit in accordance with the following schedule (check one): Cliff Vesting Schedule. Benefits shall be 100% vested after the Participant has a minimum of 10 years (insert number not to exceed 10) of Total Credited Service. Benefits remain 0% vested until the Participant satisfies this minimum. (See General Addendum subsection 16(e) regarding calculation of Total Credited Service for Vesting purposes for Participants who commenced Participation in the Plan prior to July 1, 2023.)

Eligible Regular Employees. Subject to the terms and conditions of the Master Plan, a Participant who is an Eligible Regular Employee and whose employment is terminated for any reason other than death or retirement shall earn a vested right in his accrued retirement benefit in accordance with the following schedule (check one): Cliff Vesting Schedule. Benefits shall be 100% vested after the Participant has a minimum of 10 years (insert number not to exceed 10) of Total Credited Service. Benefits remain 0% vested until the Participant satisfies this minimum. (See General Addendum subsection 16(e) regarding calculation of Total Credited Service for Vesting purposes for Participants who commenced Participation in the Plan prior to July 1, 2023.purposes)