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or spouse due to spouse's employment. Any new election under this Section 4.8 shall be effective at <br />such time as the Administrator shall prescribe, but not earlier than the first pay period beginning after <br />the election form is completed and returned to the Administrator. <br /> <br /> 4.9 Automatic Termination of Election. Elections made under this Plan (or deemed to be <br />made under Section 4.6) shall automatically terminate on the date on which the Participant ceases to be <br />a Participant in the Plan, although coverage or benefits under any Underlying Plan may continue if and <br />only to the extent provided by such plans. <br /> <br /> 4.10 Maximum Compensation Reductions. The maximum amount of optional benefits and <br />consequential Compensation reductions which may be elected under the Plan by any Participant shall be <br />tlle costs from time to time of the most expensive benefits available to the Participant under any other <br />Underlying Plans (including the portion of such costs payable with non-elective Company <br />contributions). <br /> <br /> 4.11 Failure to Pay Premiums. When the Participant ceases to be eligible for coverage, or <br />the required premiums are not paid, the Participant's coverage and benefits under an Underlying Plan <br />will end unless otherwise agreed upon according to the terms and conditions outlined in the Underlying <br />Plan. <br /> <br /> 4.12 Leave Without Pay. When an employee is on leave without pay, continuation of <br />benefits will be permitted provided the Participant's sham of the premium is paid. Should an employee <br />fail to make premium payments, the employee will be notified in writing and may be given an <br />additional fifteen days to make payment in full. If payment is not made after this notice, coverage and <br />benefits will end. <br /> <br />7 <br /> <br /> <br />