Common use of Computation Periods Clause in Contracts

Computation Periods. If eligibility and/or Vesting are determined by the Counting of Hours Method, the following will apply: (a) x The eligibility computation period will: (check one) ¨ Be based on an Employee’s 12-month employment year x Switch to the Plan Year after an Employee’s initial 12-month employment year (b) x The Vesting computation period will be: (check one) x The Plan Year ¨ Based on an Employee’s 12-month employment year (c) x An Employee will be deemed to have been credited with a Year of Service for eligibility purposes: (check one) x At the end of the eligibility computation period in which he or she is credited with the required Hours of Service ¨ At the time he or she is actually credited with the required Hours of Service

Appears in 2 contracts

Samples: 401(k) Non Standardized Prototype Adoption Agreement (Western Digital Corp), 401(k) Adoption Agreement (Pacific Capital Bancorp /Ca/)

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Computation Periods. If eligibility and/or Vesting are determined by the Counting of Hours Method, the following will apply: (a) x ¨ The eligibility computation period will: (check one) ¨ Be based on an Employee’s 12-month employment year x ¨ Switch to the Plan Year after an Employee’s initial 12-month employment year (b) x ¨ The Vesting computation period will be: (check one) x ¨ The Plan Year ¨ Based on an Employee’s 12-month employment year (c) x ¨ An Employee will be deemed to have been credited with a Year of Service for eligibility purposes: (check one) x ¨ At the end of the eligibility computation period in which he or she is credited with the required Hours of Service ¨ At the time he or she is actually credited with the required Hours of Service

Appears in 1 contract

Samples: 401(k) Non Standardized Prototype Adoption Agreement (Enpro Industries, Inc)

Computation Periods. If eligibility and/or Vesting are determined by the Counting of Hours Method, the following will apply: (a) x o The eligibility computation period will: (check one) ¨ o Be based on an Employee’s 12-month employment year x o Switch to the Plan Year after an Employee’s initial 12-month employment year (b) x o The Vesting computation period will be: (check one) x o The Plan Year ¨ o Based on an Employee’s 12-month employment year (c) x o An Employee will be deemed to have been credited with a Year of Service for eligibility purposes: (check one) x o At the end of the eligibility computation period in which he or she is credited with the required Hours of Service ¨ o At the time he or she is actually credited with the required Hours of Service

Appears in 1 contract

Samples: 401(k) Non Standardized Prototype Adoption Agreement (Littelfuse Inc /De)

Computation Periods. If eligibility and/or Vesting are determined by the Counting of Hours Method, the following will apply: (a) x The eligibility computation period will: (check one) ¨ x Be based on an Employee’s 12-month employment year x o Switch to the Plan Year after an Employee’s initial 12-month employment year (b) x o The Vesting computation period will be: (check one) x o The Plan Year ¨ o Based on an Employee’s 12-month employment year (c) x An Employee will be deemed to have been credited with a Year of Service for eligibility purposes: (check one) x At the end of the eligibility computation period in which he or she is credited with the required Hours of Service ¨ o At the time he or she is actually credited with the required Hours of Service

Appears in 1 contract

Samples: 401(k) Non Standardized Prototype Adoption Agreement (Michaels Stores Inc)

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Computation Periods. If eligibility and/or Vesting are determined by the Counting of Hours Method, the following will apply: (a) x ¨ The eligibility computation period will: (check one) ¨ Be based on an Employee’s 12-month employment year x ¨ Switch to the Plan Year after an Employee’s initial 12-month employment year (b) x ¨ The Vesting computation period will be: (check one) x ¨ The Plan Year ¨ Based on an Employee’s 12-month employment year (c) x An Employee will be deemed to have been credited with a Year of Service for eligibility purposes: (check one) x ¨ At the end of the eligibility computation period in which he or she is credited with the required Hours of Service ¨ At the time he or she is actually credited with the required Hours of Service

Appears in 1 contract

Samples: 401(k) Non Standardized Prototype Adoption Agreement (Enpro Industries, Inc)

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