Common use of Reentry Clause in Contracts

Reentry. A former Participant shall become a Participant immediately upon his return to employment with the Employer or his return to an eligible class of Employees, whichever is applicable. In the event an Employee who is not a member of the eligible class of Employees becomes a member of the eligible class, such Employee will become a Participant in accordance with Section 3.2 above; provided that if the Employee has previously satisfied the eligibility requirements of Section 3.2, the Employee shall become a Participant immediately upon becoming a member of the eligible class of Employees.

Appears in 3 contracts

Samples: Defined Contribution Retirement Plan Adoption Agreement (Fiduciary Capital Growth Fund Inc), Defined Contribution Retirement Plan Adoption Agreement (Fmi Funds Inc), Prototype Defined Contribution Retirement Plan (Monetta Fund Inc)

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Reentry. A former Participant shall become a Participant immediately upon his return to employment with the employ of the Employer or his return to an eligible class of Employeesemployees, whichever is applicable. In the event an Employee who is not a member of the eligible class of Employees becomes a member of the eligible class, such Employee will become a Participant in accordance with Section 3.2 above; provided that if the Employee has previously satisfied the eligibility requirements of Section 3.2, the Employee shall become a Participant immediately upon becoming a member of the eligible class of Employees.

Appears in 1 contract

Samples: Employer Adoption Agreement (Scudder Gnma Fund)

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