MTSC » Topics » 3. Eligibility and Participation in the Plan .

This excerpt taken from the MTSC 8-K filed Oct 28, 2008.

          3.          Eligibility and Participation in the Plan.

          3.1        Employee Eligibility. The Committee, in its sole discretion, will select the employees or classification of employees of the Company who shall be eligible to become Participants in the Plan, provided that each such employee would be a member of a select group of management or highly compensated employees, as determined under the Employee Retirement Income Security Act of 1974,

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as amended, and regulations thereunder. Any change in the employee status as a member of a classification eligible for the Plan (other than upon Separation from Service) shall be effective as of the first day of the next Plan Year. An employee who becomes eligible or who is selected to participate in the Plan during the Plan Year shall become a Participant on the first day of the next month following such selection and shall make an election in accordance with Section 4.1.

          3.2      Director Eligibility. A non-employee member of the Board of Directors of the Company shall be eligible to participate in this Plan upon the director’s initial election as a member of the Board. A director who becomes eligible shall become a Participant on the first day of the next month following such election and shall make an election in accordance with Section 4.1.

          3.3      Termination of Eligibility and Participation. Each designated employee or classification of employees shall be eligible to contribute to this Plan and to receive any Company Contributions until such time as the Committee revokes such designation; provided, however, that the employee shall continue to be a Participant in this Plan to receive benefits until the Participant’s Account is fully paid. A non-employee director shall eligible to contribute to this Plan and to receive any Company Contributions until such time as the director incurs a Separation from Service; provided, however, that the director shall continue to be a Participant in this Plan and to receive the Participant’s Account until such time as the Participant’s Account is fully paid.

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