Return of Payroll Deductions Clause Example from Business Contracts

This example Return of Payroll Deductions clause appears in 2 contracts from 2 companies

Return of Payroll Deductions. In the event a Participant's interest in this Plan is terminated by withdrawal, termination of employment or otherwise, or in the event this Plan is terminated by the Board, the Company shall deliver to the Participant all accumulated payroll deductions credited to such Participant's account. No interest shall accrue on the payroll deductions of a Participant in this Plan.