Common use of Savings Bonds Clause in Contracts

Savings Bonds. The Employer hereby agrees to participate in the Teamsters Nation- al 401(k) Savings Plan (the “Plan”) on behalf of all employees rep- resented for purposes of collective bargaining under this agree- ment, and shall authorize the Plan to allow for participating employee, upon his request, to take loans on his contributions to the Plan. The Employer is not required to participate in the Teamsters National 401(k) if Teamsters employees were eligible to participate in the Employers sponsored 401(k) as of January 1, 1998. The Employer will make or cause to be made payroll deductions from participating employee’s wages, in accordance with each em- ployee’s salary deferral election subject to compliance with ERISA and the relevant tax code provisions. The Employer will forward withheld sum to Prudential or its successor at such time, in such form and manner as required pursuant to the Plan and Declaration of Trust (the “Trust”). The Employer will execute a Participation Agreement with TN- FINC and the Trustees of the Plan evidencing Employer participa- tion in the Plan effective prior to any employee deferral being re- ceived by the Plan.

Savings Bonds. The Employer hereby agrees to participate in the Teamsters Nation- al 401(k) Savings Plan (the “Plan”) on behalf of all employees rep- resented for purposes of collective bargaining under this agree- ment, and shall authorize the Plan to allow for participating employee, upon his request, to take loans on his contributions to the Plan. The Employer is not required to participate in the Teamsters National 401(k) if Teamsters employees were eligible to participate in the Employers an Employer sponsored 401(k) as of January 1, 1998. The Employer will make or cause to be made payroll deductions from participating employee’s wages, in accordance with each em- ployee’s salary deferral election subject to compliance with ERISA and the relevant tax code provisions. The Employer will forward withheld sum to Prudential State Street Bank or its successor at such time, in such form and manner as required pursuant to the Plan and Declaration Decla- ration of Trust (the “Trust”). The Employer will execute a Participation Agreement with TN- FINC and the Trustees of the Plan evidencing Employer participa- tion in the Plan effective prior to any employee deferral being re- ceived by the Plan.