Common use of Suspension from Participation in the Plan Clause in Contracts

Suspension from Participation in the Plan. a. Notice to Suspend A participant may on one occasion while they are participating in the Plan give notice to the Board stating that the participant wishes to suspend their participation in the Plan for a period of one year as at September 1 which immediately follows such notice, in which case the Board shall pay the current compensation amount to the Participant as if they were not participating in the Plan for such year, but the amounts previously retained by the Board and interest thereon in accordance with Clause 19.3.c (but less all interest paid to the Participant in accordance with Clause 19.4.e) shall continue to be held by the Board until the participant withdraws from the Plan or takes a leave of absence.

Suspension from Participation in the Plan. a. Notice to Suspend A participant may on one occasion while they are he/she is participating in the Plan give notice to the Board stating that the participant wishes to suspend their his/her participation in the Plan for a period of one year as at September 1 which immediately follows such notice, in which case the Board shall pay the current compensation amount to the Participant as if they he/she were not participating in the Plan for such year, but the amounts previously retained by the Board and interest thereon in accordance with Clause 19.3.c (but less all interest paid to the Participant in accordance with Clause 19.4.e) shall continue to be held by the Board until the participant withdraws from the Plan or takes a leave of absence.