A. General Vesting Rules

Until you are vested, you are not entitled to any benefits under the Plan.

Being vested means that your accumulated Pension Credit and Credited Service cannot be cancelled if you leave employment permanently or for a long period. Being vested means that you will be entitled to apply and be eligible for a pension at Normal Retirement Age. Being vested does not, however, guarantee you a right to an Early Retirement or Disability Pension as you must have accumulated at least 10 years of Pension Credit in order to be eligible for an Early Retirement, or Disability Pension.

To determine when you achieve vested status, it is important to understand the difference between Pension Credit and Credited Service. While both may help you to become vested, only Pension Credit is used to determine the type and the level of benefits to which you may be entitled upon retirement.

Pension Credit is earned only as a result of work you perform in Covered Employment pursuant to a Collective Bargaining Agreement that requires your Employer to make contributions to this Plan. Credited Service is broader, and may be earned not only for Covered Employment, but also in other circumstances in connection with your employment. Both Pension Credit and Credited Service are explained in more detail in Section 5.

Another term that is important to understand in order to determine vesting status is a Break in Service. A Break in Service generally will occur in a given year if you have not earned specified number of hours of Credited Service or Pension Credit. Currently, if you incur 5 consecutive one year Breaks in Service before you are vested, you will incur a Permanent Break in Service. A Permanent Break in Service results in the cancellation of all your Credited Service and Pension Credit you have previously accumulated. Break in Service rules are explained in Section 7.

As Vesting and Break in Service rules have changed over the years that the Plan has been in effect, you may have failed to vest, or you may have incurred a Permanent Break in Service under a rule that no longer applies. If you had your Pension Credit and Credited Service cancelled under a prior Plan rule, a later change in the Plan rules will not reinstate that service. The applicable vesting rules are:

1. Vesting from June 1, 1961 through May 31, 1973
   The original Plan provided that a Participant's accumulated Pension Credit could not be cancelled if he attained age 55 and had at least ten years of Pension Credit. Alternatively, vesting was achieved in the Participant had thirty years of service in Covered Employment and had either 300 hours of Pension Credit in the 12 month period following June 1, 1961, or 1,500 hours of Pension Credit at any time between June 1, 1961 and May 31, 1973.
   
2. Vesting from June 1, 1973 through December 31, 1975
   As of June 1, 1973, through December 31, 1975, the Plan provided that a Participant who had at least ten years of Pension Credit for work in Covered Employment was vested in his accumulated Pension Credit, regardless of age.
   
3. Vesting from January 1, 1976 through December 31, 1997
   From January 1, 1976, through December 31, 1997, a Participant who accrued ten or more years of Pension Credit or Credited Service was vested. A Participant also was vested if he attained Normal Retirement Age, (the later of age 65, or age as of the 10th anniversary of participation in the Plan), prior to experiencing a Permanent Break in Service.
   
4. Vesting From January 1, 1998, Forward
   As of January 1, 1998, you will vest if you have earned 5 years of Pension Credit or Credited Service which has not been cancelled because of a Permanent Break in Service, provided you earned at least one hour of Covered Employment on or after January 1, 1998. You will also become vested if you attain Normal Retirement Age (the later of age 65, or age as of the 5th anniversary of your participation in the Plan) prior to experiencing a permanent Break-in-Service. Without the hour of Covered Employment on or after January 1, l998, you must accrue ten or more years of Pension Credit or Credited Service, or attain Normal Retirement Age as defined in paragraph 3 above prior to experiencing a permanent Break In Service.