Limitation on Credited Service Sample Clauses

Limitation on Credited Service. Notwithstanding the provisions of subsection (a) or subsection (b), Credited Service shall not be accrued for an Eligible Employee beyond a maximum of thirty (30) years of such Credited Service.
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Limitation on Credited Service. (a) Notwithstanding anything to the contrary contained in this Article II, the credited service for any employee last hired on or after June 9, 2009 and before October 1, 2012 shall not exceed thirty (30) years. The total credited service for an employee last hired on or after June 9, 2009 and before October 1, 2012, who had previous service reinstated or recognized by the Plan shall not exceed thirty (30) years. The total credited service for an employee last hired on or after October 1, 2012, shall not exceed thirty (30) years or, if later, the credited service accured when the employee attains age 55. (b) Notwithstanding anything to the contrary contained in this Article II, the total periods of credited service after December 31, 1990 during which the employee is not receiving remuneration from the Company, or during which the employee is paid at less than the employee's regular Base Hourly Rate, and for which the employee accrues credited service on a current service basis as though paid at the regular Base Hourly Rate, excluding those periods during which the employee suffers a physical or mental impairment, as certified in writing by a qualified medical doctor, that prevents the employee from performing the duties of employment in which the employee was engaged before the commencement of the impairment, shall not exceed the sum of: (1) the full time equivalent of five years; and (2) the total periods of leave of absence during which the employee qualifies as a “loaned employee” under Revenue Rules; and (3) the periods of parenting, as defined in Revenue Rules, subject to a maximum of 36 months of such periods of parenting and a maximum of 12 months for any one period of parenting.
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Limitation on Credited Service. (a) Notwithstanding anything to the contrary contained in this Article II, the credited service for any employee last hired on or after June 9, 2009 and before October 1, 2012 shall not exceed thirty (30) years. The total credited service for an (b) Notwithstanding anything to the contrary contained in this Article II, the total periods of credited service after December 31, 1990 during which the employee is not receiving remuneration from the Company, or during which the employee is paid at less than the employee's regular Base Hourly Rate, and for which the employee accrues credited service on a current service basis as though paid at the regular Base Hourly Rate, excluding those periods during which the employee suffers a physical or mental impairment, as certified in writing by a qualified medical doctor, that prevents the employee from performing the duties of employment in which the employee was engaged before the commencement of the impairment, shall not exceed the sum of: (1) the full time equivalent of five years; and (2) the total periods of leave of absence during which the employee qualifies as a “loaned employee” under Revenue Rules; and (3) the periods of parenting, as defined in Revenue Rules, subject to a maximum of 36 months of such periods of parenting and a maximum of 12 months for any one period of parenting.
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Related to Limitation on Credited Service

  • Credited Service In addition to Current Credited Service the Adopting Employer may include as Credited Service the following types of service:

  • Elective Deferrals (a) The Committee may establish procedures pursuant to which Employee may elect to defer, until a time or times later than the vesting of a Performance Share Unit, receipt of all or a portion of the shares of Common Stock deliverable in respect of a Performance Share Unit, all on such terms and conditions as the Committee (or its designee) shall determine in its sole discretion. If any such deferrals are permitted for Employee, then notwithstanding any provision of this Agreement or the Plan to the contrary, an Employee who elects such deferral shall not have any rights as a stockholder with respect to any such deferred shares of Common Stock unless and until the date the deferral expires and certificates representing such shares are required to be delivered to Employee. The foregoing notwithstanding, no deferrals of Dividend Equivalents related to any Performance Share Units under this Award will be permitted. Moreover, the Committee further retains the authority and discretion to modify and/or terminate existing deferral elections, procedures and distribution options. (b) Notwithstanding any provision to the contrary in this Agreement, if deferral of Performance Share Units is permitted, each provision of this Agreement shall be interpreted to permit the deferral of compensation only as allowed in compliance with the requirements of Section 409A of the Internal Revenue Code and any provision that would conflict with such requirements shall not be valid or enforceable. Employee acknowledges, without limitation, and consents that application of Section 409A of the Internal Revenue Code to this Agreement may require additional delay of payments otherwise payable under this Agreement. Employee and the Company further hereby agree to execute such further instruments and take such further action as reasonably may be necessary to comply with Section 409A of the Internal Revenue Code.

  • Years of Service A Participant’s Years of Service shall include all service performed for the Employer and ¨ Shall ¨ Shall Not include service performed for the Related Employer.

  • Period of limitation The warranty claims as per Clause 6 shall expire within one year of notification of these claims being provided.

  • Matching Contributions The Employer will make matching contributions in accordance with the formula(s) elected in Part II of this Adoption Agreement Section 3.01.