Common use of Rules Applicable to Nonaffiliate Employees on and after October 28. 1990 Clause in Contracts

Rules Applicable to Nonaffiliate Employees on and after October 28. 1990. (1) Subject to subsection (d), on and after October 28, 1990, an Employee described in subsection (b) of this section shall be a Participant in this Plan unless he has elected in writing to not participate in this Plan and the Plan has received a copy of such election; provided that, the Directors may in their discretion authorize alternative procedures. Such election may be revoked as of the first day of any payroll period succeeding such revocation. Unless otherwise provided by the Directors, once participation has commenced on or after October 28, 1990, it shall continue so long as the Employee is employed (or reemployed) by his Employer in an eligible job classification.