Common use of Existing Plans Clause in Contracts

Existing Plans. The Company agrees that, in view of the fact that some existing plans provide benefits which are different the above, the following exceptions will apply: For the rate credited for employee and employer contributions made prior to July will be in accordance with the terms of the current Great-West Life contract. For vesting of benefits in respect of service prior to July will be after one year of service and the termination benefit in respect of that period of service will, subject to legislation which may limit his ability to withdraw cash, be in accordance with the terms of the current Great-West Life contract. United Grain Growers employees who were members of the plan prior to July will have a seven year guarantee. For the death benefit for service June will be as above. For service prior to that date, it will be a return of employee and employer contributions made in that period of service, with interest. For the death benefit for service after June will be as above. For service prior to that date, it will be the greater of;