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Transfer of Employment With No Transfer of Funds

13.02 - If, because of termination of the agreement referred to in the first paragraph of Section 13.01, or for any other reason, the payment described in such paragraph is not made, the rights under this Plan of a Transferred Participant who transferred from this Plan to the U.S. Plan shall be determined as if (while the Transferred Participant continues as an active participant in the U.S. Plan) the Transferred Participant had continued as an active Participant in this Plan, subject to the following exceptions:

  • The Transferred Participant will not make any contributions under this Plan while a participant in the U.S. Plan.
  • The Transferred Participant's credited service accrued under the U.S. Plan will be deemed to be Vesting Service under this Plan for the purpose of determining Vested Percentage and eligibility for early retirement but such credited service under the U.S. Plan will not count in the calculation of any pension under Section 6.
  • If the Transferred Participant becomes Disabled while employed in the U.S., the Transferred Participant will not be entitled to disability benefits under Section 6.06 of the Plan.

If a Transferred Participant moves from the U.S. Plan to this Plan, and if the payment described in the first paragraph of Section 13.01 is not made, such Transferred Participant's credited service accrued under the U.S. Plan shall be combined with Vesting Service under this Plan for the purpose of determining Vested Percentage and eligibility for early retirement but such credited service under the U.S. Plan will not count in the calculation of any pension under Section 6.