l. Contract approval
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l. Contract approval
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<br />one ~e of insured or self-funded Benefit is elected, sub-accounts shall be established for each <br />type bf insured or self-funded Benefit. <br /> <br />1.22 "Salary Redirection" means the contributions made by the Employer on behalf <br />of Participants pursuant to Section 3.2. These contributions shall be converted to Cafeteria Plan <br />Benefit Dollars and allocated to the funds or accounts established under the Plan pursuant to <br />the Participants' elections made under Article V. <br /> <br />1.23 "Salary Redirection Agreement" means an agreement between the Participant <br />and t e Employer under which the Participant agrees to reduce his Compensation or to forego <br />all or part of the increases in such Compensation and to have such amounts contributed by the <br />Empl yer to the Plan on the Participant's behalf. The Salary Redirection Agreement shall apply <br />only 0 Compensation that has not been actually or constructively received by the Participant as <br />of th date of the agreement (after taking this Plan and Code Section 125 into account) and, <br />subs i quently does not become currently available to the Participant. <br />i <br />I 1.24 "Spouse" means "spouse" as defined in the self-funded plan or the legally <br />marri~d husband or wife of a Participant, unless legally separated by court decree. <br />I <br /> <br />I ARTICLE II <br />I PARTICIPATION <br />i <br /> <br />2.1 ELIGIBILITY <br /> <br />Any Eligible Employee shall be eligible to participate hereunder as of the date he <br />satis~filles the eligibility conditions for the Employer's group medical plan, the provisions of which <br />are s ecifically incorporated herein by reference. However, any Eligible Employee who was a <br />Parti ipant in the Plan on the effective date of this amendment shall continue to be eligible to <br />particpate in the Plan. <br /> <br />2.2 I EFFECTIVE DATE OF PARTICIPATION <br /> <br />I <br /> <br />An Eligible Employee shall become a Participant effective as of the date on <br />which, he satisfies the requirements of Section 2.1. <br />i <br />2.3 I APPLICATION TO PARTICIPATE <br />! <br /> <br />An Employee who is eligible to participate in this Plan shall, during the applicable <br />Electi~>n Period, complete an application to participate and election of benefits form which the <br />Admi~istrator shall furnish to the Employee. The election made on such form shall be <br />irrevotable until the end of the applicable Plan Year unless the Participant is entitled to change <br />his Benefit elections pursuant to Section 5.4 hereof. <br /> <br />, An Eligible Employee shall also be required to execute a Salary Redirection <br />Agreef' ent during the Election Period for the Plan Year during which he wishes to participate in <br />this PI n. Any such Salary Redirection Agreement shall be effective for the first pay period <br />begin ing on or after the Employee's effective date of participation pursuant to Section 2.2. <br /> <br />I Notwithstanding the foregoing, an Employee who is eligible to participate in this <br />Plan alnd who is covered by the Employer's insured or self-funded Benefits under this Plan shall <br />automatically become a Participant to the extent of the Premiums for such insurance unless the <br />Employee elects, during the Election Period, not to participate in the Plan. <br /> <br />3 <br />
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