Contribution Agreement Required for Elective Contributions Clause Samples

Contribution Agreement Required for Elective Contributions. A Section 401(k) Member shall be eligible to share in Elective Contributions under Section 3.1, effective for payroll periods ending after the first Entry Date on which he is a Section 401(k) Member, provided that he completes and returns the Contribution Agreement described in Section 3.1.1 to the Committee within such period as the Committee shall prescribe. If a rehired Eligible Employee, or Eligible Employee transferred from ineligible employment, commences or resumes participation as a Section 401(k) Member on his date of transfer or date of rehire pursuant to Section 2.4 or Section 2.6, he shall become eligible to share in Elective Contributions upon execution and filing of an appropriate Contribution Agreement within such period as the Committee shall prescribe, effective as of such date as the Committee shall determine to be administratively practicable. If a Member fails to complete and return a Contribution Agreement within the period prescribed by the Committee, he may begin to share in Elective Contributions under Section 3.1 as of any subsequent Entry Date as of which he is an Eligible Employee, by completing and returning a Contribution Agreement to the Committee within such period as the Committee shall prescribe.