HOUR OF SERVICE. (a) Unless otherwise specified in the Adoption Agreement, each hour for which an Employee is paid, or entitled to payment, for the performance of duties for the Employer. These hours shall be credited to the Employee for the computation period in which the duties are performed, and (b) each hour for which an Employee is paid, or entitled to payment, by the Employer on account of a period of time during which no duties are performed (irrespective of whether the employment relationship has terminated) due to vacation, holiday, illness, incapacity (including Disability), layoff, jury duty, military duty or leave of absence. No more than five hundred and one (501) Hours of Service shall be credited under this paragraph for any single continuous period (whether or not such period need occur in a single computation period). Hours under this paragraph shall be calculated and credited pursuant to Section 2530.200b-2 of the Department of Labor Regulations which are incorporated herein by this reference, and (c) each hour for which back pay, irrespective of mitigation of damages, is either awarded or agreed to by the Employer. The same Hours of Service shall not be credited both under paragraph (a) or paragraph (b), as the case may be, and under this paragraph (c). These hours shall be credited to the Employee for the computation period or periods to which the award or agreement pertains rather than the computation period in which the award, agreement or payment is made. (d) Hours of Service shall be credited for employment with the Employer and with other members of an affiliated service group [as defined in Code Section 414(m)], a controlled group of corporations [as defined in Code Section 414(b)], or a group of trades or businesses under common control [as defined in Code Section 414(c)] of which the adopting Employer is a member, and any other entity required to be aggregated with the Employer pursuant to Code Section 414(o) and the Regulations thereunder. Hours of Service shall also be credited for any individual considered an Employee for purposes of this Plan under Code Section 414(n) or Code Section 414(o) and the Regulations thereunder. (e) Solely for purposes of determining whether a Break in Service, as defined in paragraph 1.14, for participation and vesting purposes has occurred in a computation period, an individual who is absent from work for maternity or paternity reasons shall receive credit for the Hours of Service which would otherwise have been credited to such individual but for such absence, or in any case in which such hours cannot be determined, eight (8) Hours of Service per day of such absence. For purposes of this paragraph, an absence from work for maternity or paternity reasons means an absence by reason of the pregnancy of the individual, by reason of a birth of a child of the individual, by reason of the placement of a child with the individual in connection with the adoption of such child by such individual, or for purposes of caring for such child for a period beginning immediately following such birth or placement. The Hours of Service credited under this paragraph shall be credited in the computation period in which the absence begins if the crediting is necessary to prevent a Break in Service in that period, or in all other cases, in the following computation period. No more than five hundred and one (501) hours will be credited under this paragraph. (f) Hours of Service shall be determined under the hours counting method as elected by the Employer in the Adoption Agreement. If no election is made, actual hours under the hours counting method will be used.
Appears in 9 contracts
Sources: Defined Contribution Plan (Georgetown Bancorp, Inc.), Defined Contribution Plan (Idt Corp), Defined Contribution Plan (Chicopee Bancorp, Inc.)
HOUR OF SERVICE. (a) Unless otherwise specified in the Adoption Agreement, each hour for which an Employee is paid, or entitled to payment, for the performance of duties for the Employer. These hours shall be credited to the Employee for the computation period in which the duties are performed, and
(b) each hour for which an Employee is paid, or entitled to payment, by the Employer on account of a period of time during which no duties are performed (irrespective of whether the employment relationship has terminated) due to vacation, holiday, illness, incapacity (including Disability), layoff, jury duty, military duty or leave of absence. No more than five hundred and one (501) Hours of Service shall be credited under this paragraph for any single continuous period (whether or not such period need occur in a single computation period). Hours under this paragraph shall be calculated and credited pursuant to Section 2530.200b-2 of the Department of Labor Regulations which are incorporated herein by this reference, and
(c) each hour for which back pay, irrespective of mitigation of damages, is either awarded or agreed to by the Employer. The same Hours of Service shall not be credited both under paragraph (a) or paragraph (b), as the case may be, and under this paragraph (c). These hours shall be credited to the Employee for the computation period or periods to which the award or agreement pertains rather than the computation period in which the award, agreement or payment is made.
(d) Hours of Service shall be credited for employment with the Employer and with other members of an affiliated service group [as defined in Code Section 414(m)], a controlled group of corporations [as defined in Code Section 414(b)], or a group of trades or businesses under common control [as defined in Code Section 414(c)] of which the adopting Employer is a member, and any other entity required to be aggregated with the Employer pursuant to Code Section 414(o) and the Regulations thereunder. Hours of Service shall also be credited for any individual considered an Employee for purposes of this Plan under Code Section 414(n) or Code Section 414(o) and the Regulations thereunder.
(e) Solely for purposes of determining whether a Break in Service, as defined in paragraph 1.14, for participation and vesting purposes has occurred in a computation period, an individual who is absent from work for maternity or paternity reasons shall receive credit for the Hours of Service which would otherwise have been credited to such individual but for such absence, or in any case in which such hours cannot be determined, eight (8) Hours of Service per day of such absence. For purposes of this paragraph, an absence from work for maternity or paternity reasons means an absence by reason of the pregnancy of the individual, by reason of a birth of a child of the individual, by reason of the placement of a child with the individual in connection with the adoption of such child by such individual, or for purposes of caring for such child for a period beginning immediately following such birth or placement. The Hours of Service credited under this paragraph shall be credited in the computation period in which the absence begins if the crediting is necessary to prevent a Break in Service in that period, or in all other cases, in the following computation period. No more than five hundred and one (501) hours will be credited under this paragraph.
(f) Notwithstanding paragraph (b), the Plan Administrator may elect for all Employees or for one or more different classifications of Employees (provided such classifications are reasonable and are consistently applied) to apply one or more of the following equivalency methods in determining the Hours of Service of an Employee paid on an hourly or salaried basis. Under such equivalency methods, an Employee will be credited with either (1) one hundred ninety (190) Hours of Service for each month in which he or she is paid or entitled to payment for at least one (1) Hour of Service; or (2) ninety five (95) Hours of Service for each semi-monthly period in which he or she is paid or entitled to payment for at least one (1) Hour of Service; or (3) forty-five (45) Hours of Service for each week in which he or she is paid or entitled to payment for at least one (1) Hour of Service; or (4) ten (10) Hours of Service for each day in which he or she is paid or entitled to payment for at least one (1) Hour of Service.
(g) Hours of Service shall be determined under the hours counting method as elected by the Employer in the Adoption Agreement. If no election is made, actual hours under the hours counting method will be used.
Appears in 6 contracts
Sources: Defined Contribution Plan (ASB Bancorp Inc), Defined Contribution Plan (Fraternity Community Bancorp Inc), Savings and Investment Plan Document (Sterling Chemicals Inc)
HOUR OF SERVICE. (a) Unless otherwise specified If the Employer elects in the Adoption AgreementAgreement the hourly record method, each hour for which an Employee is paid, or entitled to payment, for the performance Hour of duties for the Employer. These hours Service shall be credited to the Employee for the computation period in which the duties are performed, andinclude:
(bA) each Each hour for which an Employee is paid, or entitled to payment, by the Employer on account or an Affiliate for the performance of duties for the Employer or an Affiliate. These hours will be credited to the Employee for each Plan Year in which the duties are performed, or with respect to eligibility under Article II, the applicable computation period under the definition of Year of Service in which the duties are performed;
(B) Each hour for which an Employee is paid, or entitled to payment, by the Employer or an Affiliate due to a period of time during which no duties are performed (irrespective of whether the employment relationship Employment has terminated) due to vacation, holiday, illness, incapacity (including Disability), layoff, jury duty, military duty duty, or leave of absence. No more than five hundred and one (501) 501 Hours of Service shall will be credited under this paragraph for any single continuous period (whether or not such period need occur occurs in a single computation period). Hours under this paragraph shall will be calculated and credited pursuant to Section section 2530.200b-2 of the Department of Labor Regulations which are incorporated herein by this reference, ; and
(cC) each Each hour for which back pay, irrespective of mitigation of damages, is either awarded or agreed to by the EmployerEmployer or an Affiliate. The same Hours of Service shall will not be credited both under paragraph subparagraph (aA) or paragraph subparagraph (bB), as the case may be, and under this paragraph subparagraph (cC). These hours shall will be credited to the Employee for the Year of Service or other computation period or periods to which the award or agreement pertains rather than the Year of Service or other computation period in which the award, agreement or payment is made.
(d) . If the Employer elects in the Adoption Agreement the elapsed time method, an Hour of Service is an hour for which an Employee is paid, or entitled to payment, for the performance of duties for the Employer or an Affiliate. With respect to both the hourly record method and the elapsed time method, in addition to service with an Affiliate, Hours of Service shall be credited for employment with the Employer and with other members of an affiliated service group [as defined in Code Section 414(m)], a controlled group of corporations [as defined in Code Section 414(b)], or a group of trades or businesses under common control [as defined in Code Section 414(c)] of which the adopting Employer is a member, and any other entity required to be aggregated with the Employer pursuant to Code Section 414(o) and the Regulations thereunder. Hours of Service shall will also be credited for any individual considered an Employee for purposes of this Plan under Code Section 414(n) or Code Section 414(o) and the Regulations thereunder).
(e) Solely for purposes of determining whether a Break in Service, as defined in paragraph 1.14, for participation and vesting purposes has occurred in a computation period, an individual who is absent from work for maternity or paternity reasons shall receive credit for the Hours of Service which would otherwise have been credited to such individual but for such absence, or in any case in which such hours cannot be determined, eight (8) Hours of Service per day of such absence. For purposes of this paragraph, an absence from work for maternity or paternity reasons means an absence by reason of the pregnancy of the individual, by reason of a birth of a child of the individual, by reason of the placement of a child with the individual in connection with the adoption of such child by such individual, or for purposes of caring for such child for a period beginning immediately following such birth or placement. The Hours of Service credited under this paragraph shall be credited in the computation period in which the absence begins if the crediting is necessary to prevent a Break in Service in that period, or in all other cases, in the following computation period. No more than five hundred and one (501) hours will be credited under this paragraph.
(f) Hours of Service shall be determined under the hours counting method as elected by the Employer in the Adoption Agreement. If no election is made, actual hours under the hours counting method will be used.
Appears in 5 contracts
Sources: Prototype Defined Contribution Plan Adoption Agreement (Tca Cable Tv Inc), 401(k) Plan Adoption Agreement (Pennfed Financial Services Inc), Prototype Defined Contribution Plan Adoption Agreement (Media 100 Inc)
HOUR OF SERVICE. (a) Unless otherwise specified in the Adoption Agreement, each hour for which an Employee is paid, or entitled to payment, for the performance of duties for the Employer. These hours shall be credited to the Employee for the computation period in which the duties are performed, and
(b) each hour for which an Employee is paid, or entitled to payment, by the Employer on account of a period of time during which no duties are performed (irrespective of whether the employment relationship has terminated) due to vacation, holiday, illness, incapacity (including Disability), layoff, jury duty, military duty or leave of absence. No more than five hundred and one (501) Hours of Service shall be credited under this paragraph for any single continuous period (whether or not such period need occur in a single computation period). Hours under this paragraph shall be calculated and credited credited pursuant to Section 2530.200b-2 of the Department of Labor Regulations which are incorporated herein by this reference, and
(c) each hour for which back pay, irrespective of mitigation of damages, is either awarded or agreed to by the Employer. The same Hours of Service shall not be credited both under paragraph (a) or paragraph (b), as the case may be, and under this paragraph (c). These hours shall be credited to the Employee for the computation period or periods to which the award or agreement pertains rather than the computation period in which the award, agreement or payment is made.
(d) Hours of Service shall be credited for employment with the Employer and with other members of an affiliated service group [as defined in Code Section 414(m)], a controlled group of corporations [as defined in Code Section 414(b)], or a group of trades or businesses under common control [as defined in Code Section 414(c)] of which the adopting Employer is a member, and any other entity required to be aggregated with the Employer pursuant to Code Section 414(o) and the Regulations thereunder. Hours of Service shall also be credited for any individual considered an Employee for purposes of this Plan under Code Section 414(n) or Code Section 414(o) and the Regulations thereunder.
(e) Solely for purposes of determining whether a Break in Service, as defined in paragraph 1.14, for participation and vesting purposes has occurred in a computation period, an individual who is absent from work for maternity or paternity reasons shall receive credit for the Hours of Service which would otherwise have been credited to such individual but for such absence, or in any case in which such hours cannot be determined, eight (8) Hours of Service per day of such absence. For purposes of this paragraph, an absence from work for maternity or paternity reasons means an absence by reason of the pregnancy of the individual, by reason of a birth of a child of the individual, by reason of the placement of a child with the individual in connection with the adoption of such child by such individual, or for purposes of caring for such child for a period beginning immediately following following such birth or placement. The Hours of Service credited under this paragraph shall be credited in the computation period in which the absence begins if the crediting is necessary to prevent a Break in Service in that period, or in all other cases, in the following computation period. No more than five hundred and one (501) hours will be credited under this paragraph.
(f) Notwithstanding paragraph (b), the Plan Administrator may elect for all Employees or for one or more different classifications of Employees (provided such classifications are reasonable and are consistently applied) to apply one or more of the following equivalency methods in determining the Hours of Service of an Employee paid on an hourly or salaried basis. Under such equivalency methods, an Employee will be credited with either (1) one hundred ninety (190) Hours of Service for each month in which he or she is paid or entitled to payment for at least one (1) Hour of Service; or (2) ninety five (95) Hours of Service for each semi-monthly period in which he or she is paid or entitled to payment for at least one (1) Hour of Service; or (3) forty-five (45) Hours of Service for each week in which he or she is paid or entitled to payment for at least one (1) Hour of Service; or (4) ten (10) Hours of Service for each day in which he or she is paid or entitled to payment for at least one (1) Hour of Service.
(g) Hours of Service shall be determined under the hours counting method as elected by the Employer in the Adoption Agreement. If no election is made, actual hours under the hours counting method will be used.
Appears in 3 contracts
Sources: Defined Contribution Plan (1st Constitution Bancorp), Defined Contribution Plan (Wellesley Bancorp, Inc.), Defined Contribution Plan (Savannah Bancorp Inc)
HOUR OF SERVICE. Hour of Service shall mean:
(a) Unless otherwise specified in the Adoption Agreement, each Each hour for which an Employee is paid, or entitled to payment, for the performance of duties for the Employer. These hours shall will be credited to the Employee for the computation Computation period in which the duties are performed, ; and
(b) each Each hour for which an Employee is paid, or entitled to payment, by the Employer on account of a period of time during which no duties are performed (irrespective of whether the employment relationship has terminated) due to vacation, holiday, illness, incapacity (including Disability), layoff, jury duty, military duty or of leave of absence. No more than five hundred and one (501) Hours 501 hours of Service shall service will be credited under this paragraph for any single continuous period (whether or not such period need occur occurs in a single computation period). Hours under this paragraph shall will be calculated and credited pursuant to Section 2530.200b-2 of the Department of Labor Regulations which are is incorporated herein by this reference, ; and
(c) each Each hour for which back pay, irrespective of mitigation of damages, is either awarded or agreed to by the Employer. The same Hours of Service shall will not be credited both under paragraph (a) or paragraph (b), as the case may be, and under this paragraph (c). These hours shall will be credited to the Employee for the computation period or periods to which the award or agreement pertains rather than the computation period in which the award, agreement or payment is made.
(d) . Hours of Service shall will be credited for employment with the Employer and with other members of an affiliated service group [as defined in Code Section (under section 414(m)]), a controlled group of corporations [as defined in Code Section (under section 414(b)]), or a group of trades or businesses under common control [as defined in Code Section (under section 414(c)] ) of which the adopting Employer employer is a member, and any other entity required to be aggregated with the Employer employer pursuant to Code Section section 414(o) and the Regulations regulations thereunder. Hours of Service shall will also be credited for any individual considered an Employee for purposes of this Plan under Code Section section 414(n) or Code Section section 414(o) and the Regulations regulations thereunder.
(e) . Solely for purposes of determining whether a Break in Service, as defined in paragraph 1.14Section 14.06, for participation and vesting purposes has occurred in a computation period, an individual who is absent from work for maternity or paternity reasons shall receive credit for the Hours of Service which would otherwise have been credited to such individual but for such absence, or in any case in which such hours cannot be determined, eight (8) 8 Hours of Service per day of such absence. For purposes of this paragraph, an absence from work for maternity or paternity reasons means an absence (1) by reason of the pregnancy of the individual, (2) by reason of a birth of a child of the individual, (3) by reason of the placement of a child with the individual in connection with the adoption of such child by such individual, or (4) for purposes of caring for such child for a period beginning immediately following such birth or placement. The Hours of Service credited under this paragraph shall be credited (1) in the computation period in which the absence begins if the crediting is necessary to prevent a Break in Service in that period, or (2) in all other cases, in the following computation period. No more than five hundred and one (501) hours will be credited under this paragraph.
(fd) Hours of Service shall will be determined under on the hours counting basis of the method as elected by the Employer selected in the Adoption Agreement. If no election is made, actual hours under the hours counting method will be used.
Appears in 3 contracts
Sources: Individual 401(k) Plan Purchase Agreement, Employer Sponsored Plan Account Agreement, Employer Sponsored Plan Account Agreement
HOUR OF SERVICE. (a) Unless otherwise specified in the Adoption Agreement, each Each hour for which an Employee is paid, or entitled to payment, for the performance of duties for the Employer. These hours shall be credited to the Employee for the computation period in which the duties are performed, ; and
(b) each Each hour for which an Employee is paid, or entitled to payment, by the Employer on account of a period of time during which no duties are performed (irrespective of whether the employment relationship has terminated) due to vacation, holiday, illness, incapacity (including Disabilitydisability), layoff, jury duty, military duty or leave of absence. No more than five hundred and one (501) 501 Hours of Service shall be credited under this paragraph for any single continuous period (whether or not such period need occur occurs in a single computation period). Hours under this paragraph shall be calculated and credited pursuant to Section 2530.200b-2 of the Department of Labor Regulations Section 2530.200b-2 which are incorporated herein by this reference, ; and
(c) each Each hour for which back pay, irrespective of mitigation of damages, is either awarded or agreed to by the Employer. The same Hours of Service shall not be credited both under paragraph (a) or paragraph (b), as the case may be, and under this paragraph (c). These hours shall be credited to the Employee for the computation period or periods to which the award or agreement pertains rather than the computation period in which the award, agreement or payment is made.
(d) Hours of Service shall be credited for employment with the Employer and with other members of an affiliated service group [as defined in Code Section 414(m)], a controlled group of corporations [as defined in Code Section 414(b)], or a group of trades or businesses under common control [as defined in Code Section 414(c)] of which the adopting Employer is a member, and any other entity required to be aggregated with the Employer pursuant to Code Section 414(o) and the Regulations regulations thereunder. Hours of Service shall also be credited for any individual considered an Employee for purposes of this Plan under Code Section 414(n) or Code Section 414(o) and the Regulations regulations thereunder.
(e) Solely for purposes of determining whether a Break in Service, as defined in paragraph 1.141.10, for participation and vesting purposes has occurred in a computation period, an individual who is absent from work for maternity or paternity reasons shall receive credit for the Hours of Service which would otherwise have been credited to such individual but for such absence, or in any case in which such hours cannot be determined, eight (8) 8 Hours of Service per day of such absence. For purposes of this paragraph, an absence from work for maternity or paternity reasons means an absence by reason of the pregnancy of the individual, by reason of a birth of a child of the individual, by reason of the placement of a child with the individual in connection with the adoption of such child by such individual, or for purposes of caring for such child for a period beginning immediately following such birth or placement. The Hours of Service credited under this paragraph shall be credited in the computation period in which the absence begins if the crediting is necessary to prevent a Break in Service in that period, or in all other cases, in the following computation period. No more than five hundred and one (501) hours will be credited under this paragraph.
(f) Hours of Service shall be determined under the hours counting method as elected by the Employer in the Adoption Agreement. If no election is made, actual hours under the hours counting method will be used.prevent
Appears in 3 contracts
Sources: Profit Sharing Plan (First Keystone Corp), Cash or Deferred Profit Sharing Plan (Port Financial Corp), Defined Contribution Plan and Trust (First Keystone Corp)
HOUR OF SERVICE. (a) Unless otherwise specified in For all purposes other than determining whether an Employee has been credited with a Year of Eligibility Service, an “Hour of Service” shall mean an hour for which an Employee is paid, or entitled to payment, by one or more Controlled Group Members for the Adoption Agreementperformance of duties as an Employee.
(b) For purposes of determining whether an Employee has been credited with a Year of Eligibility Service, each an “Hour of Service” shall mean:
(i) Each hour for which an Employee is paid, or entitled to payment, for the performance of duties for the Employera Controlled Group Member. These hours shall be credited to the Employee for the computation period or periods in which the duties are performed, and;
(bii) each Each hour for which an Employee is paid, or entitled to payment, by the Employer a Controlled Group Member on account of a period of time during which no duties are performed (irrespective of whether the employment relationship has terminated) due to vacation, holiday, illness, incapacity (including Disabilitydisability), layoff, jury duty, military duty duty, or leave of absence. No more than five hundred and one (501) Hours of Service shall be credited under this paragraph for any single continuous period (whether or not such period need occur in a single computation period). Hours under this paragraph subparagraph shall be calculated and credited pursuant to Section 2530.200b-2 of the Department of Labor Regulations Regulations, which are incorporated herein by this reference, ; and
(ciii) each Each hour for which back pay, irrespective of mitigation of damages, is either awarded or agreed to by the Employera Controlled Group Member. The same Hours of Service shall not be credited both under paragraph subparagraph (ai) or paragraph (b)ii) above, as the case may be, and under this paragraph subparagraph (ciii). These hours shall be credited to the Employee for the computation period or periods to which the award or agreement pertains pertains, rather than the computation period in which the award, agreement agreement, or payment is made.
(d) Hours of Service shall be credited for employment with the Employer and with other members of an affiliated service group [as defined in Code Section 414(m)], a controlled group of corporations [as defined in Code Section 414(b)], or a group of trades or businesses under common control [as defined in Code Section 414(c)] of which the adopting Employer is a member, and any other entity required to be aggregated with the Employer pursuant to Code Section 414(o) and the Regulations thereunder. Hours of Service shall also be credited for any individual considered an Employee for purposes of this Plan under Code Section 414(n) or Code Section 414(o) and the Regulations thereunder.
(e) Solely for purposes of determining whether a Break in Service, as defined in paragraph 1.14, for participation and vesting purposes has occurred in a computation period, an individual who is absent from work for maternity or paternity reasons shall receive credit for the Hours of Service which would otherwise have been credited to such individual but for such absence, or in any case in which such hours cannot be determined, eight (8) Hours of Service per day of such absence. For purposes of this paragraph, an absence from work for maternity or paternity reasons means an absence by reason of the pregnancy of the individual, by reason of a birth of a child of the individual, by reason of the placement of a child with the individual in connection with the adoption of such child by such individual, or for purposes of caring for such child for a period beginning immediately following such birth or placement. The Hours of Service credited under this paragraph shall be credited in the computation period in which the absence begins if the crediting is necessary to prevent a Break in Service in that period, or in all other cases, in the following computation period. No more than five hundred and one (501) hours will be credited under this paragraph.
(f) Hours of Service shall be determined under the hours counting method as elected by the Employer in the Adoption Agreement. If no election is made, actual hours under the hours counting method will be used.
Appears in 2 contracts
Sources: Employee Savings Plan (Lincoln Electric Holdings Inc), Employee Savings Plan (Lincoln Electric Holdings Inc)
HOUR OF SERVICE. (a) Unless otherwise specified in the Adoption Agreement, each hour for which an Employee is paid, or entitled to payment, for the performance of duties for the Employer. These hours shall be credited to the Employee for the computation period in which the duties are performed, and
(b) each hour for which an Employee is paid, or entitled to payment, by the Employer on account of a period of time during which no duties are performed (irrespective of whether the employment relationship has terminated) due to vacation, holiday, illness, incapacity (including Disability), layoff, jury duty, military duty or leave of absence. No more than five hundred and one (501) Hours of Service shall be credited under this paragraph for any single continuous period (whether or not such period need occur in a single computation period). Hours under this paragraph shall be calculated and credited pursuant to Section 2530.200b-2 of the Department of Labor Regulations which are incorporated herein by this reference, and
(c) each hour for which back pay, irrespective of mitigation of damages, is either awarded or agreed to by the Employer. The same Hours of Service shall not be credited both under paragraph (a) or paragraph (b), as the case may be, and under this paragraph (c). These hours shall be credited to the Employee for the computation period or periods to which the award or agreement pertains rather than the computation period in which the award, agreement or payment is made.
(d) Hours of Service shall be credited for employment with the Employer and with other members of an affiliated service group [as defined in Code Section 414(m)], a controlled group of corporations [as defined in Code Section 414(b)], or a group of trades or businesses under common control [as defined in Code Section 414(c)] of which the adopting Employer is a member, and any other entity required to be aggregated with the Employer pursuant to Code Section 414(o) and the Regulations thereunder. Hours of Service shall also be credited for any individual considered an Employee for purposes of this Plan under Code Section 414(n) or Code Section 414(o) and the Regulations thereunder.
(e) Solely for purposes of determining whether a Break in Service, as defined in paragraph 1.14, for participation and vesting purposes has occurred in a computation period, an individual who is absent from work for maternity or paternity reasons shall receive credit for the Hours of Service which would otherwise have been credited to such individual but for such absence, or in any case in which such hours cannot be determined, eight (8) Hours of Service per day of such absence. For purposes of this paragraph, an absence from work for maternity or paternity reasons means an absence by reason of the pregnancy of the individual, by reason of a birth of a child of the individual, by reason of the placement of a child with the individual in connection with the adoption of such child by such individual, or for purposes of caring for such child for a period beginning immediately following such birth or placement. The Hours of Service credited under this paragraph shall be credited in the computation period in which the absence begins if the crediting is necessary to prevent a Break in Service in that period, or in all other cases, in the following computation period. No more than five hundred and one (501) hours will be credited under this paragraph.
(f) . Hours of Service shall be determined under the hours counting method as elected by the Employer in the Adoption Agreement. If no election is made, actual hours under the hours counting method will be used.
Appears in 2 contracts
Sources: Defined Contribution Plan (Century Bancorp Inc), Nonstandardized Adoption Agreement (Banctrust Financial Group Inc)
HOUR OF SERVICE. (a) Unless otherwise specified in the Adoption Agreement, each Each hour for which an Employee Associate is paid, or entitled to payment, for the performance of duties for the Employer. These hours shall be credited to the Employee Associate for the computation period or periods in which the duties are performed, ; and
(b) each Each hour for which an Employee Associate is paid, or entitled to payment, by the Employer on account of a period of time during which no duties are performed (irrespective of whether the employment relationship has terminated) due to vacation, holiday, illness, incapacity (including Disability), layoff, jury duty, military duty or leave Authorized Leave of absenceAbsence. No more than five hundred and one (501) 501 Hours of Service shall be credited under this paragraph for any single continuous period (whether or not such period need occur occurs in a single computation period). Hours under this paragraph shall be calculated and credited pursuant to Section 2530.200b-2 of the Department of Labor Regulations which are incorporated herein by this reference, ; and
(c) each Each hour for which back pay, irrespective of mitigation of damages, is either awarded or agreed to by the Employer. The same Hours of Service shall not be credited both under paragraph (a) or paragraph (b), as the case may be, and under this paragraph (c). These hours shall be credited to the Employee Associate for the computation period or periods to in which the award or agreement pertains rather than the computation period in which the award, agreement or payment is made.
(d) Hours of Service shall be credited determined on the basis of actual hours for employment with the Employer and with other members which an Associate is paid or entitled to payment.
(e) An Hour of Service respecting any member of an affiliated service group [(as defined in Code Section 414(m)], ) of the Code) of which the Employer is a controlled group of corporations [member or respecting any incorporated or unincorporated trade or business which is under common control with the Employer (as defined in Code Section 414(b)], or a group of trades or businesses under common control [as defined in Code Section 414(c)] of which the adopting Employer is a member, and any other entity required to be aggregated with the Employer pursuant to Code Section 414(o) and the Regulations thereunder. Hours of Service shall also be credited for any individual considered an Employee for purposes of this Plan under Code Section 414(n) or Code Section 414(o) and the Regulations thereunder.
(e) Solely for purposes of determining whether a Break in Service, as defined in paragraph 1.14, for participation and vesting purposes has occurred in a computation period, an individual who is absent from work for maternity or paternity reasons shall receive credit for the Hours of Service which would otherwise have been credited to such individual but for such absence, or in any case in which such hours cannot be determined, eight (8) Hours of Service per day of such absence. For purposes of this paragraph, an absence from work for maternity or paternity reasons means an absence by reason of the pregnancy of the individual, by reason of a birth of a child of the individual, by reason of the placement of a child with the individual in connection with the adoption of such child by such individual, or for purposes of caring for such child for a period beginning immediately following such birth or placement. The Hours of Service credited under this paragraph Code) shall be credited in as an Hour of Service with the computation period in which the absence begins if the crediting is necessary to prevent a Break in Service in that period, or in all other cases, in the following computation period. No more than five hundred and one (501) hours will be credited under this paragraphEmployer.
(f) Hours of Service shall be determined under the hours counting method as elected by the Employer in the Adoption Agreement. If no election is made, actual hours under the hours counting method also will be usedcredited for any individual considered an Associate for purposes of this Plan under Section 414(n) of the Code.
Appears in 2 contracts
Sources: 401(k) Plan and Trust Agreement (Hastings Entertainment Inc), 401(k) Plan and Trust Agreement (Hastings Entertainment Inc)
HOUR OF SERVICE. (a) Unless otherwise specified in the Adoption Agreement, each hour for which an Employee is paid, or entitled to payment, for the performance of duties for the Employer. These hours shall be credited to the Employee for the computation period in which the duties are performed, and
(b) each hour for which an Employee is paid, or entitled to payment, by the Employer on account of a period of time during which no duties are performed (irrespective of whether the employment relationship has terminated) due to vacation, holiday, illness, incapacity (including Disability), layoff, jury duty, military duty or leave of absence. No more than five hundred and one (501) Hours of Service shall be credited under this paragraph for any single continuous period (whether or not such period need occur in a single computation period). Hours under this paragraph shall be calculated and credited pursuant to Section 2530.200b-2 of the Department of Labor Regulations which are incorporated herein by this reference, and
(c) each hour for which back pay, irrespective of mitigation of damages, is either awarded or agreed to by the Employer. The same Hours of Service shall not be credited both under paragraph (a) or paragraph (b), as the case may be, and under this paragraph (c). These hours shall be credited to the Employee for the computation period or periods to which the award or agreement pertains rather than the computation period in which the award, agreement or payment is made.
(d) Hours of Service shall be credited for employment with the Employer and with other members of an affiliated service group [as defined in Code Section 414(m)], a controlled group of corporations [as defined in Code Section 414(b)], or a group of trades or businesses under common control [as defined in Code Section 414(c)] of which the adopting Employer is a member, and any other entity required to be aggregated with the Employer pursuant to Code Section 414(o) and the Regulations thereunder. Hours of Service shall also be credited for any individual considered an Employee for purposes of this Plan under Code Section 414(n) or Code Section 414(o) and the Regulations thereunder.
(e) Solely for purposes of determining whether a Break in Service, as defined in paragraph 1.141.13, for participation and vesting purposes has occurred in a computation period, an individual who is absent from work for maternity or paternity reasons shall receive credit for the Hours of Service which would otherwise have been credited to such individual but for such absence, or in any case in which such hours cannot be determined, eight (8) Hours of Service per day of such absence. For purposes of this paragraph, an absence from work for maternity or paternity reasons means an absence by reason of the pregnancy of the individual, by reason of a birth of a child of the individual, by reason of the placement of a child with the individual in connection with the adoption of such child by such individual, or for purposes of caring for such child for a period beginning immediately following such birth or placement. The Hours of Service credited under this paragraph shall be credited in the computation period in which the absence begins if the crediting is necessary to prevent a Break in Service in that period, or in all other cases, in the following computation period. No more than five hundred and one (501) hours will be credited under this paragraph.
(f) Notwithstanding paragraph (b), the Plan Administrator may elect for all Employees or for one or more different classifications of Employees (provided such classifications are reasonable and are consistently applied) to apply one or more of the following equivalency methods in determining the Hours of Service of an Employee paid on an hourly or salaried basis. Under such equivalency methods, an Employee will be credited with either (1) one hundred ninety (190) Hours of Service for each month in which he or she is paid or entitled to payment for at least one (1) Hour of Service; or (2) ninety five (95) Hours of Service for each semi-monthly period in which he or she is paid or entitled to payment for at least one (1) Hour of Service; or (3) forty-five (45) Hours of Service for each week in which he or she is paid or entitled to payment for at least one (1) Hour of Service; or (4) ten (10) Hours of Service for each day in which he or she is paid or entitled to payment for at least one (1) Hour of Service.
(g) Hours of Service shall be determined under the hours counting method as elected by the Employer in the Adoption Agreement. If no election is made, actual hours under the hours counting method will be used.
Appears in 2 contracts
Sources: Defined Contribution Plan, Defined Contribution Plan
HOUR OF SERVICE. (a) Unless otherwise specified in the Adoption Agreement, each Each hour for which an Employee is paid, or entitled to payment, for the performance of duties for the Employer. These hours shall be credited to the Employee for the computation period in which the duties are performed, ; and
(b) each Each hour for which an Employee is paid, or entitled to payment, by the Employer on account of a period of time during which no duties are performed (irrespective of whether the employment relationship has terminated) due to vacation, holiday, illness, incapacity (including Disabilitydisability), layoff, jury duty, military duty or leave of absence. No more than five hundred and one (501) 501 Hours of Service shall be credited under this paragraph for any single continuous period (whether or not such period need occur occurs in a single computation period). Hours under this paragraph shall be calculated and credited pursuant to Section 2530.200b-2 of the Department of Labor Regulations Section 2530.200b-2 which are incorporated herein by this reference, ; and
(c) each Each hour for which back pay, irrespective of mitigation of damages, is either awarded or agreed to by the Employer. The same Hours of Service shall not be credited both under paragraph (a) or paragraph (b), as the case may be, and under this paragraph (c). These hours shall be credited to the Employee for the computation period or periods to which the award or agreement pertains rather than the computation period in which the award, agreement or payment is made.
(d) Hours of Service shall be credited for employment with the Employer and with other members of an affiliated service group [as defined in Code Section 414(m)], a controlled group of corporations [as defined in Code Section 414(b)], or a group of trades or businesses under common control [as defined in Code Section 414(c)] of which the adopting Employer is a member, and any other entity required to be aggregated with the Employer pursuant to Code Section 414(o) and the Regulations regulations thereunder. Hours of Service shall also be credited for any individual considered an Employee for purposes of this Plan under Code Section 414(n) or Code Section 414(o) and the Regulations regulations thereunder.
(e) Solely for purposes of determining whether a Break in Service, as defined in paragraph 1.141.10, for participation and vesting purposes has occurred in a computation period, an individual who is absent from work for maternity or paternity reasons shall receive credit for the Hours of Service which would otherwise have been credited to such individual but for such absence, or in any case in which such hours cannot be determined, eight (8) 8 Hours of Service per day of such absence. For purposes of this paragraph, an absence from work for maternity or paternity reasons means an absence by reason of the pregnancy of the individual, by reason of a birth of a child of the individual, by reason of the placement of a child with the individual in connection with the adoption of such child by such individual, or for purposes of caring for such child for a period beginning immediately following such birth or placement. The Hours of Service credited under this paragraph shall be credited in the computation period in which the absence begins if the crediting is necessary to prevent a Break in Service in that period, or in all other cases, in the following computation period. No more than five hundred and one (501) 501 hours will be credited under this paragraph.
(f) Unless specified otherwise in the Adoption Agreement, Hours of Service shall be determined under on the hours counting method as elected by basis of the Employer in the Adoption Agreement. If no election is made, actual hours under the hours counting method will be usedfor which an Employee is paid or entitled to pay.
Appears in 2 contracts
Sources: 401(k) Plan Document (Berkshire Hills Bancorp Inc), Adoption Agreement (Westfield Financial Inc)
HOUR OF SERVICE. (a) Unless otherwise specified If the Employer elects in the Adoption AgreementAgreement the hourly record method, each hour for which an Employee is paid, or entitled to payment, for the performance Hour of duties for the Employer. These hours Service shall be credited to the Employee for the computation period in which the duties are performed, andinclude:
(bA) each Each hour for which an Employee is paid, or entitled to payment, by the Employer on account or an Affiliate for the performance of duties for the Employer or an Affiliate. These hours will be credited to the Employee for each Plan year in which the duties are performed, or with respect to eligibility under Article II, the applicable computation period under the definition of Year of Service in which the duties are performed;
(B) Each hour for which an Employee is paid, or entitled to payment, by the Employer or an Affiliate due to a period of time during which no duties are performed (irrespective of whether the employment relationship Employment has terminated) due to vacation, holiday, illness, incapacity (including Disability), layoff, jury duty, military duty duty, or leave of absence. No more than five hundred and one (501) 501 Hours of Service shall will be credited under this paragraph for any single continuous period (whether or not such period need occur occurs in a single computation period). Hours under this paragraph shall will be calculated and credited pursuant to Section section 2530.200b-2 of the Department of Labor Regulations which are incorporated herein by this reference, ; and
(cC) each Each hour for which back pay, irrespective of mitigation of damages, is either awarded or agreed to by the EmployerEmployer or an Affiliate. The same Hours of Service shall will not be credited both under paragraph subparagraph (aA) or paragraph subparagraph (bB), as the case may be, and under this paragraph subparagraph (cC). These hours shall will be credited to the Employee for the Year of Service or other computation period or periods to which the award or agreement pertains rather than the Year of Service or other computation period in which the award, agreement or payment is made.
(d) . If the Employer elects in the Adoption Agreement the elapsed time method, an Hour of Service is an hour for which an Employee is paid, or entitled to payment, for the performance of duties for the Employer or an Affiliate. With respect to both the hourly record method and the elapsed time method, in addition to service with an Affiliate, Hours of Service shall be credited for employment with the Employer and with other members of an affiliated service group [as defined in Code Section 414(m)], a controlled group of corporations [as defined in Code Section 414(b)], or a group of trades or businesses under common control [as defined in Code Section 414(c)] of which the adopting Employer is a member, and any other entity required to be aggregated with the Employer pursuant to Code Section 414(o) and the Regulations thereunder. Hours of Service shall will also be credited for any individual considered an Employee for purposes of this Plan under Code Section 414(n) or Code Section 414(o) and the Regulations thereunder).
(e) Solely for purposes of determining whether a Break in Service, as defined in paragraph 1.14, for participation and vesting purposes has occurred in a computation period, an individual who is absent from work for maternity or paternity reasons shall receive credit for the Hours of Service which would otherwise have been credited to such individual but for such absence, or in any case in which such hours cannot be determined, eight (8) Hours of Service per day of such absence. For purposes of this paragraph, an absence from work for maternity or paternity reasons means an absence by reason of the pregnancy of the individual, by reason of a birth of a child of the individual, by reason of the placement of a child with the individual in connection with the adoption of such child by such individual, or for purposes of caring for such child for a period beginning immediately following such birth or placement. The Hours of Service credited under this paragraph shall be credited in the computation period in which the absence begins if the crediting is necessary to prevent a Break in Service in that period, or in all other cases, in the following computation period. No more than five hundred and one (501) hours will be credited under this paragraph.
(f) Hours of Service shall be determined under the hours counting method as elected by the Employer in the Adoption Agreement. If no election is made, actual hours under the hours counting method will be used.
Appears in 1 contract
HOUR OF SERVICE. (a) Unless otherwise specified in the Adoption Agreement, each Each hour for which an Employee is paid, or entitled to payment, for the performance of duties for the Employer. These hours shall be credited to the Employee for the computation period in which the duties are performed, ; and
(b) each Each hour for which an Employee is paid, or entitled to payment, by the Employer on account of a period of time during which no duties are performed (irrespective of whether the employment relationship has terminated) due to vacation, holiday, illness, incapacity (including Disabilitydisability), layoff, jury duty, military duty or leave of absence. No more than five hundred and one (501) 501 Hours of Service shall be credited under this paragraph for any single continuous period (whether or not such period need occur occurs in a single computation period). Hours under this paragraph shall be calculated and credited pursuant to Section 2530.200b-2 2530.2006-2 of the Department of Labor Regulations which are incorporated herein by this reference, ; and
(c) each Each hour for which back pay, irrespective of mitigation of damages, is either awarded or agreed to by the Employer. The same Hours of Service shall not be credited both under paragraph (a) or paragraph (b), as the case may be, and under this paragraph (c). These hours shall be credited to the Employee for the computation period or 29 periods to which the award or agreement pertains rather than the computation period in which the award, agreement or payment is made.
(d) Hours of Service shall be credited for employment with the Employer and with other members of an affiliated service group [as defined in Code Section 414(m)], a controlled group of corporations [as defined in Code Section 414(b)], or a group of trades or businesses under common control [as defined in Code Section 414(c)] of which the adopting Employer is a member, and any other entity required to be aggregated with the Employer pursuant to Code Section 414(o) and the Regulations regulations thereunder. Hours of Service shall also be credited for any individual considered an Employee for purposes of this Plan under Code Section 414(n) or Code Section 414(o) and the Regulations regulations thereunder.
(e) Solely for purposes of determining whether a Break in Service, as defined in paragraph 1.141.6, for participation and vesting purposes has occurred in a computation period, an individual who is absent from work for maternity or paternity reasons shall receive credit for the Hours of Service which would otherwise have been credited to such individual but for such absence, or in any case in which such hours cannot be determined, eight (8) 8 Hours of Service per day of such absence. For purposes of this paragraph, an absence from work for maternity or paternity reasons means an absence by reason of the pregnancy of the individual, by reason of a birth of a child of the individual, by reason of the placement of a child with the individual in connection with the adoption of such child by such individual, or for purposes of caring for such child for a period beginning immediately following such birth or placement. The Hours of Service credited under this paragraph shall be credited in the computation period in which the absence begins if the crediting is necessary to prevent a Break in Service in that period, or in all other cases, in the following computation period. No more than five hundred and one (501) 501 hours will be credited under this paragraph.
(f) Unless specified otherwise in the Adoption Agreement, Hours of Service shall be determined under on the hours counting method as elected by basis of the Employer in the Adoption Agreement. If no election is made, actual hours under the hours counting method will be used.for which an employee is paid or entitled to payment
Appears in 1 contract
Sources: Adoption Agreement (Professionals Insurance Co Management Group)
HOUR OF SERVICE. (a1) Unless otherwise specified in the Adoption Agreement, each Each hour for which an Employee is paid, or entitled to payment, for the performance of duties for the Employer. These hours shall be credited to the Employee for the computation period in which the duties are performed, ; and
(b2) each Each hour for which an Employee is paid, or entitled to payment, by the Employer on account of a period of time during which no duties are performed (irrespective of whether the employment relationship has terminated) due to vacation, holiday, illness, incapacity (including Disability), layoff, jury duty, military duty duty, or leave of absence. No more than five hundred and one (501) 501 Hours of Service shall be credited under this paragraph for any single continuous period (whether or not such period need occur occurs in a single computation period). Hours under this paragraph shall be calculated and credited pursuant to Section 2530.200b-2 of the Department of Labor Regulations which are incorporated herein by this reference, ; and
(c3) each Each hour for which back pay, irrespective of mitigation of damages, is either awarded or agreed to by the Employer. The same Hours of Service shall not be credited both under paragraph subparagraph (a1) or paragraph subparagraph (b2), as the case may be, and under this paragraph subparagraph (c3). These hours shall be credited to the Employee for the computation period or periods to which the award or agreement pertains rather than for the computation period in which the award, agreement or payment is made.
(d) . Hours of Service shall will be credited for employment with the Employer and with other members of an affiliated service group [as defined in Code (under Section 414(m)]), a controlled group of corporations [as defined in Code (under Section 414(b)]), or a group of trades or businesses under common control [as defined in Code (under Section 414(c)] ) of which the adopting Employer is a member, and any other entity required to be aggregated with the Employer pursuant to Code Section 414(o) and the Regulations thereunder). Hours of Service shall will also be credited for any individual considered an Employee for purposes of this Plan under Code Section Sections 414(n) or Code Section 414(o) and the Regulations thereunder).
(e4) Where the Employer maintains the Plan of a predecessor employer, service for such predecessor employer shall be treated as service for the Employer. If the Employer does not maintain the Plan of a predecessor employer, the Plan does not credit service with the predecessor employer, unless the Employer identifies the predecessor in its Adoption Agreement and specifies the purposes for which the Plan will credit service with that predecessor employer.
(5) Solely for purposes of determining whether a Break in Break-in-Service, as defined in paragraph 1.14Section 1.1(E), for participation and vesting purposes has occurred in a computation period, an individual who is absent from work for maternity or paternity reasons shall receive credit for the Hours of Service which would otherwise have been credited to such individual but for such absence, or in any case in which such hours cannot be determined, eight (8) 8 Hours of Service per day of such absence. For purposes of this paragraph, an absence from work for maternity or paternity reasons means an absence (1) by reason of the pregnancy of the individual, (2) by reason of a birth of a child of the individual, (3) by reason of the placement of a child with the individual in connection with the adoption of such child by such individual, or (4) for purposes of caring for such child for a period beginning immediately following such birth or placement. The Hours of Service credited under this paragraph shall be credited (1) in the computation period in which the absence begins if the crediting is necessary to prevent a Break in Break-in-Service in that period, or (2) in all other cases, in the following computation period. No more than five hundred and one (501) hours will be credited under this paragraph.
(f6) Hours of Service shall will be determined under on the hours counting basis of the method as elected by the Employer selected in the Adoption Agreement. If no election is made, actual hours under the hours counting method will be used.
Appears in 1 contract
Sources: 401(k) Profit Sharing Plan Adoption Agreement (Priority Healthcare Corp)
HOUR OF SERVICE. (a) Unless otherwise specified in the Adoption Agreement, An Hour of Service shall mean and include each hour for which an Employee is paidcompensated by the Employer, or is entitled to paymentbe so compensated, for the performance of duties for Services rendered by him to the Employer. These hours shall will be credited to the Employee for the computation period in which the duties are performed, and.
(b) An Hour of Service shall also mean and include each hour for which an Employee is paidcompensated by the Employer, or is entitled to paymentbe so compensated, by the Employer on account of a period of time during which no duties Services are performed rendered by him to the Employer (irrespective regardless of whether the employment relationship has terminatedEmployee shall have ceased to be an Employee) due to vacation, holiday, illness, incapacity (including Disabilitydisability), layoff, jury duty, military duty or leave of absence. No more than five hundred and one (501) Hours of Service shall be credited under pursuant to this paragraph for subparagraph (b) on account of any single continuous period during which an Employee renders no Services to the Employer (whether or not such period need occur occurs in a single computation period). Hours under this paragraph shall will be calculated and credited pursuant to Section section 2530.200b-2 of the Department of Labor Regulations which are incorporated herein by this reference, and.
(c) An Hour of Service shall also mean and include each hour for which back pay, irrespective of without regard to mitigation of damages, is either has been awarded or agreed to by the Employer. The same Hours of Service shall not be credited both under paragraph subparagraph (a) or paragraph subparagraph (b), as the case may bewhichever shall be applicable, and also under this paragraph subparagraph (c). These The hours shall will be credited to the Employee for the computation period or periods to which the award or agreement pertains rather than the computation period in which the award, agreement or payment is made.
(d) . Hours of Service shall will be credited for employment with the Employer and with other members of an affiliated service group [as defined in Code Section (under section 414(m) of the Code)], a controlled group of corporations [as defined in Code Section (under section 414(b) of the Code)], or a group of trades or businesses under common control [as defined in Code Section (under section 414(c) of the Code)] , of which the adopting Employer is a member, and any other entity required to be aggregated with the Employer pursuant to Code Section section 414(o) of the Code and the Regulations regulations thereunder. Hours of Service shall will also be credited for any individual considered an Employee for purposes of this Plan under Code Section section 414(n) or Code Section 414(o(o) of the Code, and the Regulations regulations thereunder.
(e) . Solely for purposes of determining whether a Break in Service, as defined in paragraph 1.14, Service for participation and vesting purposes has occurred in a computation period, an individual who is absent from work for maternity or paternity reasons shall receive credit for the Hours of Service which would otherwise have been credited to such individual but for such absence, or in any case in which such hours cannot be determined, eight (8) Hours of Service per day of such absence. For purposes of this paragraph, an absence from work for maternity or paternity reasons means an absence (i) by reason of the pregnancy of the individual, (ii) by reason of a birth of a child of the individual, (iii) by reason of the placement of a child with the individual in connection with the adoption of such child by such individual, or (iv) for purposes of caring for such child for a period beginning immediately following such birth or placement. The Hours of Service credited under this paragraph shall be credited only (i) in the computation period in which the absence begins if the crediting is necessary to prevent a Break in Service in that period, or (ii) in all other cases, in the following computation period. No more than five hundred and one (501) hours will be credited under this paragraph.
(f) Hours of Service shall will be determined under on the hours counting basis of the method as elected by the Employer selected in the Adoption Agreement. If no election is made, actual hours under the hours counting method will be used.
Appears in 1 contract
Sources: 401(k) Retirement Plan Adoption Agreement (WHX Corp)
HOUR OF SERVICE. (a) Unless otherwise specified in Subject to the Adoption Agreementequivalency rules of Section 2.1.4, each hour for which an Employee is paid, or entitled to payment, for the performance credited with an Hour of duties for the Employer. These hours shall be credited Service pursuant to the Employee for the computation period in which the duties are performedfollowing rules, anddetermined without duplication:
(bi) each Each hour for which an Employee is paid, or entitled to payment, by an Employer, for the performance of duties for the Employer;
(ii) Each hour for which an Employee is paid, or entitled to payment [IF APPROVED LEAVE OF ABSENCE WE DON'T CARE IF THEY GET PAID], by an Employer on account of a period of time during which no duties are performed (irrespective of whether the employment relationship has terminated) due to vacation, holiday, illness, incapacity (including Disabilitydisability), layoff, jury duty, military duty or leave of absence. No more than five hundred and one (501) 501 Hours of Service shall will be credited under this paragraph for any single continuous period (whether or not such period need occur occurs in a single computation period). Hours of Service under this paragraph shall will be calculated and credited pursuant to Section section 2530.200b-2 of the Department of Labor Regulations which are incorporated herein by this reference, and;
(ciii) each Each hour for which back pay, irrespective of mitigation of damages, is either awarded or agreed to by the an Employer. The same Hours of Service shall not be credited both under paragraph (a) or paragraph (b), as the case may be, and under this paragraph (c). These hours shall will be credited to the Employee for the computation period Year of Service or periods Plan Years to which the award or agreement pertains rather than the computation period Year of Service or Plan Year in which the award, agreement or payment is made.;
(div) In addition to service with an Affiliate, Hours of Service shall be credited for employment with the Employer and with other members of an affiliated service group [as defined in Code Section 414(m)], a controlled group of corporations [as defined in Code Section 414(b)], or a group of trades or businesses under common control [as defined in Code Section 414(c)] of which the adopting Employer is a member, and any other entity required to be aggregated with the Employer pursuant to Code Section 414(o) and the Regulations thereunder. Hours of Service shall will also be credited for any individual considered an Employee employee for purposes of this Plan under Code Section section 414(n) or Code Section 414(o) and the Regulations thereunder.
(e) Solely for purposes of determining whether a Break in Service, as defined in paragraph 1.14, for participation and vesting purposes has occurred in a computation period, an individual who is absent from work for maternity or paternity reasons shall receive credit for the Hours of Service which would otherwise have been credited to such individual but for such absence, or in any case in which such hours cannot be determined, eight (8) Hours of Service per day of such absence. For purposes of this paragraph, an absence from work for maternity or paternity reasons means an absence by reason of the pregnancy of the individual, by reason of a birth of a child of the individual, by reason of the placement of a child with the individual in connection with the adoption of such child by such individual, or for purposes of caring for such child for a period beginning immediately following such birth or placement. The Hours of Service credited under this paragraph shall be credited in the computation period in which the absence begins if the crediting is necessary to prevent a Break in Service in that period, or in all other cases, in the following computation period. No more than five hundred and one (501) hours will be credited under this paragraph.
(f) Hours of Service shall be determined under the hours counting method as elected by the Employer in the Adoption Agreement. If no election is made, actual hours under the hours counting method will be used.Code;
Appears in 1 contract
Sources: Employees' Savings, Investment and Profit Sharing Plan (Revlon Inc /De/)
HOUR OF SERVICE. (a) Unless otherwise specified in the Adoption Agreement, An Hour of Service shall mean and include each hour for which an Employee is paidcompensated by the Employer, or is entitled to paymentbe so compensated, for the performance of duties for services rendered by him to the Employer. These hours shall will be credited to the Employee for the computation period in which the duties are performed, and.
(b) An Hour of Service shall also mean and include each hour for which an Employee is paidcompensated by the Employer, or is entitled to paymentbe so compensated, by the Employer on account of a period of time during which no duties services are performed rendered by him to the Employer (irrespective regardless of whether the employment relationship has terminatedEmployee shall have ceased to be an Employee) due to vacation, holiday, illness, incapacity (including Disabilitydisability), layoff, jury duty, military duty or leave of absence. No more than five hundred and one (501) 501 Hours of Service shall be credited under pursuant to this paragraph for subsection (b) on account of any single continuous period during which an Employee renders no services to the Employer (whether or not such period need occur occurs in a single computation period). Hours under this paragraph shall Section will be calculated and credited pursuant to Section section 2530.200b-2 of the Department of Labor Regulations which are is incorporated herein by this reference, and.
(c) An Hour of Service shall also mean and include each hour for which back pay, irrespective of without regard to mitigation of damages, is either has been awarded or agreed to by the Employer. The same Hours of Service shall not be credited both under paragraph subsection (a) or paragraph subsection (b), as the case may bewhichever shall be applicable, and also under this paragraph subsection (c). These The hours shall will be credited to the Employee for the computation period or periods to which the award or agreement pertains rather than the computation period in which the award, agreement or payment is made.
(d) . Hours of Service shall will be credited for employment with the Employer and with other members of an affiliated service group [as defined in Code Section (under section 414(m) of the Code)], a controlled group of corporations [as defined in Code Section (under section 414(b) of the Code)], or a group of trades or businesses under common control [as defined in Code Section (under section 414(c) of the Code)] , of which the adopting Employer is a member, and any other entity required to be aggregated with the Employer pursuant to Code Section section 414(o) of the Code and the Regulations regulations thereunder. Hours of Service shall will also be credited for any individual considered an Employee for purposes of this Plan under Code Section section 414(n) or Code Section 414(o) of the Code, and the Regulations regulations thereunder.
(e) . Solely for purposes of determining whether a Break in Service, as defined in paragraph 1.14, Service for participation and vesting purposes has occurred in a computation period, an individual who is absent from work for maternity or paternity reasons shall receive credit for the Hours of Service which would otherwise have been credited to such individual but for such absence, or in any case in which such hours cannot be determined, eight (8) Hours of Service per day of such absence. For purposes of this paragraphsubsection, an absence from work for maternity or paternity reasons means an absence (i) by reason of the pregnancy of the individual, (ii) by reason of a birth of a child of the individual, (iii) by reason of the placement of a child with the individual in connection with the adoption of such child by such individual, or (iv) for purposes of caring for such child for a period beginning immediately following such birth or placement. The Hours of Service credited under this paragraph shall be credited only (i) in the computation period in which the absence begins if the crediting is necessary to prevent a Break in Service in that period, or (ii) in all other cases, in the following computation period. No more than five hundred and one (501) hours will be credited under this paragraph.
(f) Hours of Service shall will be determined under on the hours counting basis of the method as elected by the Employer selected in the Adoption Agreement. If no election is made, actual hours under the hours counting method will be used.
Appears in 1 contract
HOUR OF SERVICE. (a) Unless otherwise specified If the Employer elects in the Adoption AgreementAgreement the hourly record method, each hour for which an Employee is paid, or entitled to payment, for the performance Hour of duties for the Employer. These hours Service shall be credited to the Employee for the computation period in which the duties are performed, andinclude:
(bA) each Each hour for which an Employee is paid, or entitled to payment, by the Employer on account or an Affiliate for the performance of duties for the Employer or an Affiliate. These hours will be credited to the Employee for each Plan Year in which the duties are performed, or with respect to eligibility, under Article II, the applicable computation period under the definition of Year of Service in which the duties are performed;
(B) Each hour for which an Employee is paid, or entitled to payment, by the Employer or an Affiliate due to a period of time during which no duties are performed (irrespective of whether the employment relationship Employment has terminated) due to vacation, holiday, illness, incapacity (including Disability), layoff, jury duty, military duty duty, or leave of absence. No more than five hundred and one (501) 501 Hours of Service shall will be credited under this paragraph for any single continuous period (whether or not such period need occur occurs in a single computation period). Hours under this paragraph shall will be calculated and credited pursuant to Section 2530.200b-2 of the Department of Labor Regulations which are incorporated herein by this reference, ; and
(cC) each Each hour for which back pay, irrespective of mitigation of damages, is either awarded or agreed to by the EmployerEmployer or an Affiliate. The same Hours of Service shall will not be credited both under paragraph subparagraph (aA) or paragraph subparagraph (bB), as the case may be, and under this paragraph subparagraph (cC). These hours shall will be credited to the Employee for the Year of Service or other computation period or periods to which the award or agreement pertains rather than the Year of Service or other computation period in which the award, agreement or payment is made.
(d) . If the Employer elects in the Adoption Agreement the elapsed time method, an Hour of Service is an hour for which an Employee is paid, or entitled to payment, for the performance of duties for the Employer or an Affiliate. With respect to both the hourly record method and the elapsed time method, in addition to service with an Affiliate, Hours of Service shall be credited for employment with the Employer and with other members of an affiliated service group [as defined in Code Section 414(m)], a controlled group of corporations [as defined in Code Section 414(b)], or a group of trades or businesses under common control [as defined in Code Section 414(c)] of which the adopting Employer is a member, and any other entity required to be aggregated with the Employer pursuant to Code Section 414(o) and the Regulations thereunder. Hours of Service shall will also be credited for any individual considered an Employee for purposes of this Plan under Code Section 414(n) or Code Section 414(o) and the Regulations thereunder).
(e) Solely for purposes of determining whether a Break in Service, as defined in paragraph 1.14, for participation and vesting purposes has occurred in a computation period, an individual who is absent from work for maternity or paternity reasons shall receive credit for the Hours of Service which would otherwise have been credited to such individual but for such absence, or in any case in which such hours cannot be determined, eight (8) Hours of Service per day of such absence. For purposes of this paragraph, an absence from work for maternity or paternity reasons means an absence by reason of the pregnancy of the individual, by reason of a birth of a child of the individual, by reason of the placement of a child with the individual in connection with the adoption of such child by such individual, or for purposes of caring for such child for a period beginning immediately following such birth or placement. The Hours of Service credited under this paragraph shall be credited in the computation period in which the absence begins if the crediting is necessary to prevent a Break in Service in that period, or in all other cases, in the following computation period. No more than five hundred and one (501) hours will be credited under this paragraph.
(f) Hours of Service shall be determined under the hours counting method as elected by the Employer in the Adoption Agreement. If no election is made, actual hours under the hours counting method will be used.
Appears in 1 contract
Sources: Prototype Defined Contribution Plan Adoption Agreement (Labor Ready Inc)
HOUR OF SERVICE. (a) Unless otherwise specified If the Employer elects in the Adoption AgreementAgreement the hourly record method, each hour for which an Employee is paid, or entitled to payment, for the performance Hour of duties for the Employer. These hours Service shall be credited to the Employee for the computation period in which the duties are performed, andinclude:
(bA) each Each hour for which an Employee is paid, or entitled to payment, by the Employer on account or an Affiliate for the performance of duties for the Employer or an Affiliate. These hours will be credited to the Employee for each Plan Year in which the duties are performed, or with respect to eligibility under Article 11, the applicable computation period under the definition of Year of Service in which the duties are performed;
(B) Each hour for which an Employee is paid, or entitled to payment, by the Employer or an Affiliate due to a period of time during which no duties are performed (irrespective of whether the employment relationship Employment has terminated) due to vacation, holiday, illness, incapacity (including Disability), layoff, jury duty, military duty duty, or leave of absence. No more than five hundred and one (501) 501 Hours of Service shall will be credited under this paragraph for any single continuous period (whether or not such period need occur occurs in a single computation period). Hours under this paragraph shall will be calculated and credited pursuant to Section section 2530.200b-2 of the Department of Labor Regulations which are incorporated herein by this reference, ; and
(cC) each Each hour for which back pay, irrespective of mitigation of damages, is either awarded or agreed to by the EmployerEmployer or an Affiliate. The same Hours of Service shall will not be credited both under paragraph subparagraph (aA) or paragraph subparagraph (bB), as the case may be, and under this paragraph subparagraph (cC). These hours shall will be credited to the Employee for the Year of Service or other computation period or periods to which the award or agreement pertains rather than the Year of Service or other computation period in which the award, agreement or payment is made.
(d) . If the Employer elects in the Adoption Agreement the elapsed time method, an Hour of Service is an hour for which an Employee is paid, or entitled to payment, for the performance of duties for the Employer or an Affiliate. With respect to both the hourly record method and the elapsed time method, in addition to service with an Affiliate, Hours of Service shall be credited for employment with the Employer and with other members of an affiliated service group [as defined in Code Section 414(m)], a controlled group of corporations [as defined in Code Section 414(b)], or a group of trades or businesses under common control [as defined in Code Section 414(c)] of which the adopting Employer is a member, and any other entity required to be aggregated with the Employer pursuant to Code Section 414(o) and the Regulations thereunder. Hours of Service shall will also be credited for any individual considered an Employee for purposes of this Plan under Code Section 414(n) or Code Section 414(o) and the Regulations thereunder).
(e) Solely for purposes of determining whether a Break in Service, as defined in paragraph 1.14, for participation and vesting purposes has occurred in a computation period, an individual who is absent from work for maternity or paternity reasons shall receive credit for the Hours of Service which would otherwise have been credited to such individual but for such absence, or in any case in which such hours cannot be determined, eight (8) Hours of Service per day of such absence. For purposes of this paragraph, an absence from work for maternity or paternity reasons means an absence by reason of the pregnancy of the individual, by reason of a birth of a child of the individual, by reason of the placement of a child with the individual in connection with the adoption of such child by such individual, or for purposes of caring for such child for a period beginning immediately following such birth or placement. The Hours of Service credited under this paragraph shall be credited in the computation period in which the absence begins if the crediting is necessary to prevent a Break in Service in that period, or in all other cases, in the following computation period. No more than five hundred and one (501) hours will be credited under this paragraph.
(f) Hours of Service shall be determined under the hours counting method as elected by the Employer in the Adoption Agreement. If no election is made, actual hours under the hours counting method will be used.
Appears in 1 contract
Sources: Defined Contribution Plan (White Mountains Insurance Group Inc)
HOUR OF SERVICE. (a) Unless otherwise specified in the Adoption Agreement, each Each hour for which an Employee is paid, or entitled to payment, for the performance of duties for the Employer. These hours shall be credited to the Employee for the computation period or periods in which the duties are performed, ; and
(b) each Each hour for which an Employee is paid, or entitled to payment, by the Employer on account of a period of time during which no duties are performed (irrespective of whether the employment relationship has terminated) due to vacation, holiday, illness, incapacity (including Disability), layoff, jury duty, military Military duty or leave Leave of absenceAbsence. No more than five hundred and one (501) 501 Hours of Service shall be credited under this paragraph for any single continuous period (whether or not such period need occur occurs in a single computation period). Hours under this paragraph shall be calculated and credited pursuant to Section 2530.200b-2 of the Department of Labor Regulations which are incorporated herein by this reference, ; and
(c) each Each hour for which back pay, irrespective of mitigation of damages, is either awarded or agreed to by the Employer. The same Hours of Service shall not be credited both under paragraph (a) or paragraph (b), as the case may be, and under this paragraph (c). These hours shall be credited to the Employee for the computation period or periods to in which the award or agreement pertains rather than the computation period in which the award, agreement or payment is made.
(d) Hours of Service shall be credited determined on the basis of actual hours for employment with the Employer and with other members which an Employee is paid or entitled to payment.
(e) An Hour of Service respecting any member of an affiliated service group [(as defined in Code Section 414(m)], a controlled group ) of corporations [as defined in Code Section 414(b)], or a group of trades or businesses under common control [as defined in Code Section 414(c)] the Code) of which the adopting Employer is a member, and or respecting any other entity required to be aggregated incorporated or unincorporated trade or business which is under common control with the Employer pursuant to Code (as defined in Section 414(o414(c) and of the Regulations thereunder. Code) shall be credited as an Hour of Service with the Employer.
(f) Hours of Service shall also will be credited for any individual considered an Employee for purposes of this Plan under Code Section 414(n) or Code Section 414(o) and the Regulations thereunder.
(e) Solely for purposes of determining whether a Break in Service, as defined in paragraph 1.14, for participation and vesting purposes has occurred in a computation period, an individual who is absent from work for maternity or paternity reasons shall receive credit for the Hours of Service which would otherwise have been credited to such individual but for such absence, or in any case in which such hours cannot be determined, eight (8) Hours of Service per day of such absence. For purposes of this paragraph, an absence from work for maternity or paternity reasons means an absence by reason of the pregnancy of the individual, by reason of a birth of a child of the individual, by reason of the placement of a child with the individual in connection with the adoption of such child by such individual, or for purposes of caring for such child for a period beginning immediately following such birth or placement. The Hours of Service credited under this paragraph shall be credited in the computation period in which the absence begins if the crediting is necessary to prevent a Break in Service in that period, or in all other cases, in the following computation period. No more than five hundred and one (501) hours will be credited under this paragraphCode.
(f) Hours of Service shall be determined under the hours counting method as elected by the Employer in the Adoption Agreement. If no election is made, actual hours under the hours counting method will be used.
Appears in 1 contract
Sources: Employee Stock Ownership Plan and Trust Agreement (Hastings Entertainment Inc)
HOUR OF SERVICE. An hour for which (a) Unless otherwise specified in the Adoption Agreement, each hour for which an Employee is paid, or entitled to payment, payment by the Employer for the performance of duties for the Employer. These hours shall be credited to the Employee for the computation period in which the duties are performedduties, and
(b) each hour for which an the Employee is paid, paid or entitled to payment, payment by the Employer on account of a period of time during which no duties are performed (irrespective of whether the employment relationship has terminated) due to vacation, holiday, illness, incapacity (including Disabilitydisability), layoff, jury duty, military duty or leave of absence, or (c) back pay, irrespective of mitigation of damages, has been either awarded or agreed to by the Employer. No Hours of Service shall be credited to the Employee under (a), above, for the period in which the duties are performed, under (b), above, in the period in which no duties are performed occurs, beginning with the first Hour of Service to which the payment relates, and under (c), above, for the period to which the award or agreement pertains rather than the period in which the award, agreement or payment is made; provided, however, that Hours of Service shall not be credited under both (a) and (b), above, as the case may be, and under (c) above. Notwithstanding the preceding sentences, (i) no more than five hundred and one (501) Hours of Service shall be credited under this paragraph for (b), above, on account of any single continuous period (during which the Employee performs no duties whether or not such period need occur occurs in a single computation period). Hours under this paragraph shall be calculated and credited pursuant to Section 2530.200b-2 of the Department of Labor Regulations which are incorporated herein by this reference, and
(cii) each hour for which back pay, irrespective of mitigation of damages, is either awarded or agreed to by the Employer. The same no Hours of Service shall not be credited both under paragraph (a) or paragraph (b), as the case may be, and under this paragraph (c). These hours shall be credited to the Employee by reason of a payment made or due under a plan maintained solely for the computation period purpose of complying with applicable worker's compensation, or periods to which the award unemployment compensation or agreement pertains rather than the computation period in which the awarddisability insurance laws, agreement or payment is made.
and (diii) no Hours of Service shall be credited by reason of a payment which solely reimburses an Employee for employment with medical or medically related expenses incurred by the Employer and with other members Employee. The determination of an affiliated service group [as defined in Code Section 414(m)], a controlled group of corporations [as defined in Code Section 414(b)], or a group of trades or businesses under common control [as defined in Code Section 414(c)] of which the adopting Employer is a member, and any other entity required to be aggregated with the Employer pursuant to Code Section 414(o) and the Regulations thereunder. Hours of Service for reasons other than the performance of duties and the crediting of Hours of Service to computation periods shall also be credited for any individual considered an Employee for purposes made in accord with the provisions of this Plan under Code Section 414(n) or Code Section 414(oLabor regulation sections 2530.200b-2(b) and the Regulations thereunder.
(ec) which are incorporated herein by reference. Solely for purposes of determining whether an Employee has incurred a Break in Service, as defined in paragraph 1.14, for participation and vesting purposes has occurred in a computation periodSection 1.2.12, an individual who is absent from work for maternity or paternity reasons Employee shall receive credit for be credited with the number of Hours of Service which would otherwise have been credited to such individual but for such absence, the absence or in any case in which such hours Hours cannot be determined, determined with eight (8) Hours of Service per Service, for any day of such absence. For purposes of this paragraph, an absence that the Employee is absent from work for maternity or paternity reasons means an absence by reason of the pregnancy of Employee's pregnancy, the individual, by reason of a birth of a child of the individualEmployee, by reason of the placement of a child with the individual Employee in connection with the adoption of such child by such individualthe Employee, or for purposes of caring for such child for a period beginning immediately following such birth or placement. The Such Hours of Service credited under this paragraph shall be credited only in the computation period in which the absence from work begins if the crediting is necessary to prevent Employee would be prevented from incurring a Break in Service in that periodsuch computation period solely because credit is given for such period of absence and, or in all any other casescase, in the immediately following computation period. No more than five hundred Notwithstanding the foregoing, no credit shall be given for such service unless the Employee furnishes to the Plan Administrator information to establish that the absence from work is for the reasons indicated and the number of days for which there was such an absence. An Employee shall be credited with Hours of Service equal to the actual hours for which the Employee is paid or entitled to payment. In the event actual hours are unavailable, the Employee shall be granted Hours of Service equal to ten (10) Hours of Service if he is credited with at least one (5011) hours will Hour of Service during the day. Service with another business entity that is, along with the Employer, a member of a controlled group of corporations under section 414(b) of the Code, an affiliated service group under section 414(m) of the Code, or trades or businesses under common control as defined in section 414(c) of the Code, or, which is otherwise required to be credited under this paragraph.
(faggregated with the Employer pursuant to section 414(o) of the Code and the regulations issued thereunder shall be treated as service for the Employer. Hours of Service shall be determined credited for any individual considered an Employee for purposes of this Plan under section 414(n) or section 414(o) of the hours counting method as elected Code and the regulations issued thereunder. Except to the extent inconsistent with regulations issued by the Secretary of the Treasury, service 14535 7 05/01/07 for a predecessor to the Employer, whether as an Employee or self-employed person, may be treated as service for the Employer for purposes of calculating an Employee's Years of Eligibility Service, Years of Vesting Service, or Years of Credited Service, as those terms are defined in Sections 1.2.93, 1.2.96, and 1.2.92. As of the Adoption AgreementEffective Date of this Plan, there were no such predecessors to the Employer. Any future predecessors and the service being maintained will be listed in Appendix A and attached hereto and be treated as an amendment to this Plan. If no election is madethe Employer maintains the plan of a predecessor employer, actual hours under service with such predecessor shall be treated as service for the hours counting method will be usedEmployer.
Appears in 1 contract
HOUR OF SERVICE. (a) Unless otherwise specified in the Adoption Agreement, each Each hour for which an Employee is paid, or entitled to payment, for the performance of duties for the Employer. These hours shall be credited to the Employee for the computation period in which the duties are performed, ; and
(b) each Each hour for which an Employee is paid, or entitled to payment, by the Employer on account of a period of time during which no duties are performed (irrespective of whether the employment relationship has terminated) due to vacation, holiday, illness, incapacity (including Disabilitydisability), layoff, jury duty, military duty or leave of absence. No more than five hundred and one (501) 501 Hours of Service shall be credited under this paragraph for any single continuous period (whether or not such period need occur occurs in a single computation period). Hours under this paragraph shall be calculated and credited pursuant to Section 2530.200b-2 of the Department of Labor Regulations which are incorporated herein by this reference, ; and
(c) each Each hour for which back pay, irrespective of mitigation of damages, is either awarded or agreed to by the Employer. The same Hours of Service shall not be credited both under paragraph (a) or paragraph (b), as the case may be, and under this paragraph (c). These hours shall be credited to the Employee for the computation period or periods to which the award or agreement pertains rather than the computation period in which the award, agreement or payment is made.
(d) Hours of Service shall be credited for employment with the Employer and with other members of an affiliated service group [as defined in Code Section 414(m)], a controlled group of corporations [as defined in Code Section 414(b)], or a group of trades or businesses under common control [as defined in Code Section 414(c)] of which the adopting Employer is a member, and any other entity required to be aggregated with the Employer pursuant to Code Section 414(o) and the Regulations regulations thereunder. Hours of Service shall also be credited for any individual considered an Employee for purposes of this Plan under Code Section 414(n) or Code Section 414(o) and the Regulations regulations thereunder.
(e) Solely for purposes of determining whether a Break in Service, as defined in paragraph 1.141.10, for participation and vesting purposes has occurred in a computation period, an individual who is absent from work for maternity or paternity reasons shall receive credit for the Hours of Service which would otherwise have been credited to such individual but for such absence, or in any case in which such hours cannot be determined, eight (8) 8 Hours of Service per day of such absence. For purposes of this paragraph, an absence from work for maternity or paternity reasons means an absence by reason of the pregnancy of the individual, by reason of a birth of a child of the individual, by reason of the placement of a child with the individual in connection with the adoption of such child by such individual, or for purposes of caring for such child for a period beginning immediately following such birth or placement. The Hours of Service credited under this paragraph shall be credited in the computation period in which the absence begins if the crediting is necessary to prevent a Break in Service in that period, or in all other cases, in the following computation period. No more than five hundred and one (501) 501 hours will be credited under this paragraph.
(f) Hours of Service shall be determined under on the hours counting basis of the method as elected by the Employer selected in the Adoption Agreement. If no election is made, actual hours under the hours counting method will be used.
Appears in 1 contract
Sources: Adoption Agreement (Professionals Insurance Co Management Group)
HOUR OF SERVICE. (a) Unless otherwise specified in For all purposes other than determining whether an Employee has been credited with a Year of Eligibility Service, an “Hour of Service” shall mean an hour for which an Employee is paid, or entitled to payment, by one or more Controlled Group Members for the Adoption Agreementperformance of duties as an Employee.
(b) For purposes of determining whether an Employee has been credited with a Year of Eligibility Service, each an “Hour of Service” shall mean:
(i) Each hour for which an Employee is paid, or entitled to payment, for the performance of duties for the Employera Controlled Group Member. These hours shall be credited to the Employee for the computation period or periods in which the duties are performed, and; 25
(bii) each Each hour for which an Employee is paid, or entitled to payment, by the Employer a Controlled Group Member on account of a period of time during which no duties are performed (irrespective of whether the employment relationship has terminated) due to vacation, holiday, illness, incapacity (including Disabilitydisability), layoff, jury duty, military duty duty, or leave of absence. No more than five hundred and one (501) Hours of Service shall be credited under this paragraph for any single continuous period (whether or not such period need occur in a single computation period). Hours under this paragraph subparagraph shall be calculated and credited pursuant to Section section 2530.200b-2 of the Department of Labor Regulations Regulations, which are incorporated herein by this reference, ; and
(ciii) each Each hour for which back pay, irrespective of mitigation of damages, is either awarded or agreed to by the Employera Controlled Group Member. The same Hours of Service shall not be credited both under paragraph subparagraph (ai) or paragraph (b)ii) above, as the case may be, and under this paragraph subparagraph (ciii). These hours shall be credited to the Employee for the computation period or periods to which the award or agreement pertains pertains, rather than the computation period in which the award, agreement agreement, or payment is made.
(d) Hours of Service shall be credited for employment with . Notwithstanding the Employer and with other members of an affiliated service group [as defined in Code Section 414(m)]foregoing, a controlled group of corporations [as defined in Code Section 414(b)], or a group of trades or businesses under common control [as defined in Code Section 414(c)] of which the adopting Employer is a member, and any other entity required to be aggregated with the Employer pursuant to Code Section 414(o) and the Regulations thereunder. Hours of Service shall also be credited for any individual considered an Employee for purposes of this Plan under Code Section 414(n) or Code Section 414(o) and the Regulations thereunder.
(e) Solely for purposes of determining whether an Employee has been credited with a Break in Year of Eligibility Service, as defined in paragraph 1.14, for participation and vesting purposes has occurred in a computation period, an individual Employee who is absent from work for maternity or paternity reasons classified by the Employer as on unpaid temporary furlough shall receive credit for be credited with the Hours of Service with which a similarly-situated Employee would otherwise normally have been credited if such furlough had not occurred, as determined in accordance with reasonable procedures adopted from time to such individual but for such absence, or in any case in which such hours cannot be determined, eight (8) Hours of Service per day of such absence. For purposes of this paragraph, an absence from work for maternity or paternity reasons means an absence by reason of the pregnancy of the individual, by reason of a birth of a child of the individual, by reason of the placement of a child with the individual in connection with the adoption of such child by such individual, or for purposes of caring for such child for a period beginning immediately following such birth or placement. The Hours of Service credited under this paragraph shall be credited in the computation period in which the absence begins if the crediting is necessary to prevent a Break in Service in that period, or in all other cases, in the following computation period. No more than five hundred and one (501) hours will be credited under this paragraph.
(f) Hours of Service shall be determined under the hours counting method as elected time by the Employer in the Adoption Agreement. If no election is made, actual hours under the hours counting method will be usedCommittee.
Appears in 1 contract
Sources: Employee Savings Plan (Lincoln Electric Holdings Inc)
HOUR OF SERVICE. Each Employee shall be credited with an Hour of Service for:
(a1) Unless otherwise specified in the Adoption Agreement, each Each hour for which an such Employee is paid, or entitled to payment, by the Employer for the performance of duties for the Employerduties. These hours shall be credited to the Employee for the computation period in which the duties are performed, ; and
(b2) each Each hour for which an such Employee is paid, or entitled to payment, by the Employer on account of a period of time during which no duties are performed (irrespective of whether the employment relationship has terminated) due to vacation, holiday, illness, incapacity (including Disabilitydisability), layoff, jury duty, military duty or leave of absence. , provided, however, that under this paragraph (2):
(i) No more than five hundred and one (501) 500 Hours of Service shall be credited under this paragraph for any single continuous period (whether or not such period need occur occurs in a single computation period). Hours under this paragraph ) during which the Employee performs no duties:
(ii) No hours shall be calculated and credited pursuant to Section 2530.200b-2 if such payment is made or due under a plan maintained by the Employer solely for purposes of the Department of Labor Regulations which are incorporated herein by this referencecomplying with applicable worker's compensation, unemployment insurance or disability insurance laws; and
(ciii) each No hours shall be credited for a payment which reimburses an Employee for medical or medically related expenses incurred by the Employee; and
(3) Each hour for which back pay, irrespective of mitigation of damages, is either awarded or agreed to by the Employer. The same Hours of Service shall not be credited both under paragraph (a) or paragraph (b), as the case may be, and under this paragraph (c). These hours shall be credited to the Employee for the computation period or periods to which the award or agreement pertains rather than the computation period in which the award, agreement agreement, or payment is made. The same Hours of Service shall not be credited under paragraphs (1) or (2), as the case may be, and this paragraph (3). Crediting of hours for back pay awarded or agreed to with respect to periods described in paragraph (2) shall be subject to the limitations of that paragraph.
(d4) Hours of Service credited under the Plan shall be calculated and credited for employment with subject to the Employer rules and with other members restrictions set forth in Department of an affiliated service group [as defined in Code Labor Regulations Section 414(m2530.200b-2(b)], a controlled group of corporations [as defined in Code Section 414(b)], or a group of trades or businesses under common control [as defined in Code Section 414(c)] of which the adopting Employer is a member, and any other entity required to be aggregated with the Employer pursuant to Code Section 414(o(c) and the Regulations thereunder. (f) which are incorporated herein by this reference.
(5) The method of determining Hours of Service under the Plan shall also be credited for any individual considered an Employee for purposes in accordance with Department of this Plan under Code Labor Regulations Section 414(n) 2530.200b-3 and shall be applied in a consistent and nondiscriminatory manner to Employees or Code Section 414(o) and the Regulations thereunderclasses of Employees.
(e6) Solely for For purposes of determining whether a Break in Service, as defined in paragraph 1.14, Service has occurred for participation and vesting purposes has occurred in a computation periodpurposes, an individual who is absent from work for Plan Years beginning on or after January 1, 1985, Hours of Service shall also include hours for maternity or paternity reasons absences in accordance with Section 2.3(e). During such absence, the Employee shall receive credit for the Hours of Service which equal to the number of hours that normally would otherwise have been credited to such individual but for such during the absence, or in any case in which such if unknown, then eight hours cannot be determinedper day of absence, eight (8) provided that the credit for Hours of Service per day of such absence. For purposes of this paragraph, an absence from work for maternity or paternity reasons means an absence by reason on account of the pregnancy of the individual, by reason of a birth of a child of the individual, by reason of the or placement of a child with the individual in connection with the Employee by adoption of such child by such individual, or for purposes of caring for such child for a period beginning immediately following such birth or placement. The shall not exceed 501 Hours of Service credited under this paragraph per absence. Hours of Service on account of pregnancy or adoption shall only be required to be credited if, in the computation period Plan Year in which the maternity or paternity absence begins if the begins, crediting of such hours is necessary to prevent a Break in Service in that periodyear; otherwise, or in all other cases, such hours shall be credited in the following computation period. No more than five hundred and one (501) hours will be credited under this paragraphPlan Year.
(f) Hours of Service shall be determined under the hours counting method as elected by the Employer in the Adoption Agreement. If no election is made, actual hours under the hours counting method will be used.
Appears in 1 contract
Sources: Employee Stock Ownership Plan and Trust (Southwest Georgia Financial Corp)
HOUR OF SERVICE. (a) Unless otherwise specified in the Adoption Agreement, each Each hour for which an Employee is paid, ,or entitled to payment, for the performance of duties for the Employer. These hours shall be credited to the Employee for the computation period in which the duties are performed, ; and
(b) each Each hour for which an Employee is paid, or entitled to payment, by the Employer on account of a period of time during which no duties are performed (irrespective of whether the employment relationship has terminated) due to vacation, holiday, illness, incapacity (including Disabilitydisability), layoff, jury duty, military duty or leave of absence. No more than five hundred and one (501) 501 Hours of Service shall be credited under this paragraph for any single continuous period (whether or not such period need occur occurs in a single computation period). Hours under this paragraph shall be calculated and credited pursuant to Section 2530.200b-2 of the Department of Labor Regulations which are incorporated herein by this reference, ; and
(c) each Each hour for which back pay, irrespective of mitigation of damages, is either awarded or agreed to by the Employer. The same Hours of Service shall not be credited both under paragraph (a) or paragraph (b), as the case may be, and under this paragraph (c). These hours shall be credited to the Employee for the computation period or periods to which the award or agreement pertains rather than the computation period in which the award, agreement or payment is made.
(d) Hours of Service shall be credited for employment with the Employer and for employment for any period of time with other members of an affiliated service 11 group [as defined in Code Section 414(m)) of the Code], a controlled group of corporations [as defined in Code Section 414(b)) of the Code], or a group of trades or businesses under common control [as defined in Code Section 414(c)) of the Code] of which the adopting Employer is a member, member and any other entity required to be aggregated with the Employer pursuant to Code Section 414(o) and the Regulations regulations thereunder. Hours of Service shall also be credited for any individual considered an Employee for purposes of this Plan under Code Section 414(n) or Code Section 414(o) of the Code and the Regulations regulations thereunder.
(e) Solely for purposes of determining whether a Break in Service, as defined in paragraph 1.14section 1.06, for participation and vesting purposes has occurred in a computation period, an individual who is absent from work for maternity or paternity reasons shall receive credit for the Hours of Service which would otherwise have been credited to such individual but for such absence, or in any case in which such hours cannot be determined, eight (8) 8 Hours of Service per day of such absence. For purposes of this paragraph, an absence from work for maternity or paternity reasons means an absence by reason of the pregnancy of the individual, by reason of a birth of a child of the individual, by reason of the placement of a child with the individual in connection with the adoption of such child by such individual, or for purposes of caring for such child for a period beginning immediately following such birth or placement. The Hours of Service credited under this paragraph shall be credited in the computation period in which the absence begins if the crediting is necessary to prevent a Break in Service in that period, or in all other cases, in the following computation period. No more than five hundred and one (501) hours will be credited under this paragraph.
(f) Hours of Service shall be determined under on the hours counting basis of the method as elected by the Employer selected in the Adoption Agreement. If no election is made, actual hours under the hours counting method will be used.
Appears in 1 contract
Sources: Defined Contribution Plan and Trust (Trimedyne Inc)