Common use of Applicability of Benefits Clause in Contracts

Applicability of Benefits. The 105 days Short Term Disability benefit shall not be available during the leave. Employees shall maintain their Long Term Disability coverage as outlined in Article 17. Vacation shall not be taken during the leave, nor shall vacation credits accumulate during the leave. However, seniority shall accumulate for the entire period of leave, and service for the purpose of otherwise determining the level of vacation entitlement shall include the period of leave. A participant may, with the approval of the University, withdraw from the Plan in unusual or extenuating circumstances (e.g. financial hardship or serious illness). Requests for withdrawal must be submitted in writing, detailing the reason(s) for withdrawal before three (3) months prior to commencement of leave. The University shall maintain the request and its approval as part of University records. When a request for withdrawal is approved, the University shall pay to the employee a lump sum amount equal to monies deferred plus interest accrued, less required statutory deductions, to the date of withdrawal from the Plan. Payment shall be made as soon as possible, but must be made within thirty (30) days of approval of withdrawal from the Plan. The University may, for good and sufficient reason, up to three (3) months prior to commencement of the leave, postpone the period of the leave for not longer than one

Applicability of Benefits. The 105 days Short Term Disability benefit shall not be available during the leave. Employees shall maintain their Long Term Disability coverage as outlined in Article 17coverage. Vacation shall not be taken during the leave, nor shall vacation credits accumulate during the leave. However, seniority shall accumulate for the entire period of leave, and service for the purpose of otherwise determining the level of vacation entitlement shall include the period of leave. Withdrawal Rights - A participant may, with the approval of the University, withdraw from the Plan in unusual or extenuating circumstances (e.g. financial hardship or serious illness). Requests for withdrawal must be submitted in writing, detailing the reason(s) for withdrawal before three (3) months prior to commencement of leave. The University shall maintain the request and its approval as part of University records. When a request for withdrawal is approved, the University shall pay to the employee a lump sum amount equal to monies deferred plus interest accrued, less required statutory deductions, accrued to the date of withdrawal from the Plan. Payment shall be made as soon as possible, but must be made within thirty (30) days of approval of withdrawal from the Plan. Leave Postponement - The University may, for good and sufficient reason, up to three (3) months prior to commencement of the leave, postpone the period of the leave for not longer than oneone (1) year. In this instance, a participant may choose to remain in the Plan, or receive payments as outlined under "Withdrawal Rights" above.