Withdrawal on Termination of Employment Before Vesting

5.06 - Effective September 1, 1986, a Participant whose employment terminates before Retirement and who has a Vested Percentage of "none", shall choose among the following alternatives:

• No Withdrawal. The Participant may leave the Contribution Account in the Trust Fund. The Contribution Account will continue to be credited with interest as specified in Sections 5.04 and 5.05. A record of the Accrued Benefit will be preserved in the event the Participant subsequently resumes participation and earns a Vested Percentage of 100%.
• Withdrawal of Contribution Account. The Participant may elect to withdraw the Contribution Account in which case all rights and entitlements accrued to the Participant under the Plan shall be canceled.

A withdrawal may be elected at any time following the Termination of Employment. A Participant who has not withdrawn the balance of the Contribution Account prior to the date which is 30 days prior to the Participant's Normal Retirement Date, shall be required to withdraw the amount, credited with interest in accordance with Section 5.05, on the first day of the month coincident with or immediately following the Participant's Normal Retirement Date.

A Participant who has withdrawn the balance of the Participant's Contribution Account may repay to the Trust Fund, upon re-employment by a Participating Employer, by direct transfer from a registered retirement savings plan, deferred profit sharing plan or other registered pension plan, the full amount of the withdrawal, plus interest, on or before the earlier of the fifth anniversary of the date of the withdrawal and the second anniversary of the date of re-employment. Interest shall be at the initial rate used in the calculation of a lump sum payable upon Termination of Employment at September 1st of the Plan Year in which the repayment is made, calculated for the period from the date the withdrawal is paid to the date the repayment is made. The repayment shall be made by direct transfer in one single lump sum which includes the withdrawn amount and interest thereon. The repayment shall restore in full the Participant's Accrued Benefit otherwise forfeited by reason of the withdrawal.