Common use of Change In Classification Of Employment Clause in Contracts

Change In Classification Of Employment. If a Participant is transferred to an ineligible class of Employees, or is otherwise reclassified as an ineligible Employee, any contribution or allocation of forfeitures which would otherwise be made for him hereunder for the Plan Year of such transfer or reclassification shall be made. No contribution or allocation of forfeitures for or by him shall be made, however, for any subsequent Plan Year prior to the Plan Year in which he again becomes a Participant.

Appears in 5 contracts

Samples: East West Bancorp Inc, Standarized Adoption Agreement (Oregon Trail Financial Corp), Non Standardized Adoption Agreement (Princeton Review Inc)

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