Common use of Participation Following Termination of Employment Clause in Contracts

Participation Following Termination of Employment. A former Participant who is rehired by the Employer within thirty (30) days of the date of termination of employment shall be reinstated with the same elections that such individual had before termination. If a former Participant is rehired more than thirty (30) days following termination of employment, then the individual may make new elections as a new hire as soon as administratively feasible but not for a longer period of time than the participation requirements designated by the Employer in the Adoption Agreement.

Participation Following Termination of Employment. A former Participant who is rehired by the Employer within thirty (30) days of the date of termination of employment shall be reinstated with the same elections that such individual had before termination. If a former Participant is rehired more than thirty (30) days following termination of employment, then the individual may make new elections as a new hire as soon as administratively feasible but not for a longer period of time than upon again meeting the participation requirements designated by the Employer in the Adoption Agreement.