Crediting of Service. With regard to Xxxxxxxxx’x Plans, employees hired by Xxxxxxxxx on or after the Closing Date shall receive credit for their service with FabriSteel prior to Closing for purposes of (i) eligibility to participate (with regard to all such plans), (ii) vesting (only with regard to tax qualified plans established under Code Section 401(a)) and (iii) in the case of vacation, severance or similar plans basing benefit amounts on length of service (excluding any defined benefit pension plans), amount of benefits.
Crediting of Service. The transfer of the NUSA Employees from NSI to NUSA shall not be deemed to cause a "Retirement Date" to occur under section 10 of the Deferred Compensation Plans. All service with NUSA shall be recognized for purposes of vesting pursuant to section 13.2 of the Deferred Compensation Plans.
Crediting of Service. As of the Distribution Date, the service used to determine the eligibility for, the vested portion of and the amount of, any benefit under any PMI Group Plan (including, for purposes of this subparagraph (b), any PMI Group employee benefit plan that provides retirement income, regardless of whether it covers only U.S. payroll-based PMI Group Employees) of each PMI Group Employee (including, for purposes of this subparagraph (b), any PMI Group employee, regardless of whether such employee is a U.S. payroll-based PMI Group Employee) shall not be less than the service that such PMI Group Employee earned with the Altria Group, the Former Altria Group and the PMI Group with respect to such PMI Group Plan to such date.
Crediting of Service. From and after the Closing Date, Purchaser shall credit to the Transferred Business Employees, for all purposes under all employee benefit plans, employee benefit arrangements and employee compensation policies and practices of Purchaser, all prior service recognized by Seller with respect to such Transferred Business Employees immediately prior to the Closing Date for purposes of eligibility to participate in, vesting or payment of benefits under, and eligibility for early retirement or any subsidized benefit provided under, but not, except as provided in SECTION 12.1 and this SECTION 12.3, for purposes of determining the amount of any benefit under any employee benefit plan (including but not limited to any "employee benefit plan" as defined in Section 3(3) of ERISA) maintained by Purchaser. For purposes of computing deductible amounts (or like adjustments or limitations on coverage) under any "welfare plan" (as defined in Section 3(1) of ERISA), expenses and claims previously recognized for similar purposes under the applicable welfare plan of Seller shall be credited or recognized under Purchaser's welfare plan. Notwithstanding anything in this SECTION 12.3 to the contrary, Purchaser shall give the Transferred Business Employees full credit for all prior service recognized by Seller with respect to such Transferred Business Employees immediately prior to the Closing Date under the Purchaser's vacation pay plan or policy.
Crediting of Service. Buyer, Italian Newco and Singapore -------------------- Newco, as appropriate, shall credit each Transferred Business Employee with all service with Seller and its Affiliates prior to the Closing Date and with all amounts paid to each such Transferred Business Employee prior to the Closing Date to the extent that service or pay is relevant under any Employee Benefit Plan of Buyer, Italian Newco or Singapore Newco for purposes of determining eligibility to participate, vesting and benefit accrual.
Crediting of Service a) An Employee who retired under the Plan shall be credited with his future service as provided in Section 3.03. He shall also be credited with his past service as provided in Section 3.02 if:
i) he was in employment on July 1, 1968;
ii) not having been in employment on July 1, 1968 he subsequently was reinstated in employment without his seniority rights having ceased, or;
iii) he is entitled to credit for past service following a transfer from other employment under the provisions of Section 3.04.
b) No future or past service shall be credited with respect to any period of employment preceding a cessation of his seniority rights which occurred subsequent to July 1, 1968 and which was not caused by his retirement under the Plan; provided, however, that:
i) an Employee meeting the age and service conditions for a deferred vested pension benefit under Section 4.04 of the Plan at the time when his seniority rights shall cease on or after July 1, 1968, shall have in lieu of the benefits for which he is eligible under Section 4.04 such future and past service as would have been used in the computation of such deferred vested pension benefit credited to him upon his again acquiring seniority rights (or his being rehired on or after July 1, 1968) prior to the commencement of such benefits; and
ii) an Employee whose seniority rights shall cease on or after January 1, 1968, shall, upon proper application, have the future and past service that was creditable to him at the time his seniority rights ceased credited to him upon again acquiring a seniority date prior to commencing to receive benefits under the Plan. For the purpose of the Plan, an Employee's seniority rights shall be considered to have ceased when they have ceased within the meaning of the Collective Agreement in effect when such cessation of seniority rights occurs. The provisions of Clause (ii) of the first sentence of this sub-section (b) shall not be applicable to any Employee who shall have retired prior to July 1, 1968, except as provided under the Prior Plan.
Crediting of Service. From and after the Closing Date, the Transferred Employees’ prior service with BI-LO, GG-TN or GG-GA (as recognized by BI-LO, GG-TN or GG-GA immediately prior to the Closing Date) shall be counted as service with the Buyer for purposes of eligibility to participate in, and determining vesting and any differential benefits based on length of service under, the Buyer’s 401(k) plan, medical and dental plans, life and disability plans and vacation benefits.
Crediting of Service. (a) An employee who retires under the Plan shall be credited with his future service. He also shall be credited with his past service if (i) he was in employment on March 1, 1950, or (ii) not having been in employment on March 1, 1950, he subse- quently was reinstated in employment without hav- ing incurred a break in his seniority, or (iii) not having been in employment on March 1, 1950, and having incurred a break in seniority before that date, he was rehired and acquired a seniority date after March 1, 1950 which date was within 24 consecutive calendar months following his last day of work preceding the date on which he incurred such break in seniority, or (iv) not having been in employment on or after March 1, 1950 he has been absent from employment on Company-approved sick leave and otherwise is eligible to retire under the provisions of Article IV, Section 4(ii) of the Plan, or (v) not having been in employment on March 1, 1950, he had active service prior to that date, or (vi) he is entitled to credit for past service following a transfer from employment covered by another plan under the provisions of Section 4 of this Article. Until retire- ment takes place, the credits described in this Article are referred to as ‘‘creditable service.’’ The provisions of clause (iii) and (iv) of this Subsection (a) shall be applicable only to employees who have
Crediting of Service. 3.1 For purposes of determining eligibility to participate, Early Retirement Age (if applicable) and vesting, service shall be credited based on the following method (Choose (a) or (b)):
(a) [ ] Elapsed Time. Under this method, service is measured from date of employment with the Employer to date of termination of employment with the Employer and a period of service shall include any period of severance of less than 12 consecutive months. (Plan Section 1.19)
(b) [x] Hours of Service. Under this method, a year of service is a 12 consecutive month period during which the Employee completes at least 1,000 Hours of Service. (Plan Section 1.30) Complete (1) and (2).
(1) Hours of Service will be determined on the basis of the method selected below. Only one method may be selected The method selected will be applied to all Employees.
(A) [ ] On the basis of actual hours for which an Employee is paid or entitled to payment by the Employer.
(B) [ ] On the basis of days worked for the Employer. An Employee will be credited with ten Hours of Service if under Plan Section 1.30 such Employee would be credited with at least one Hour of Service during the day.
(C) [ ] On the basis of weeks worked for the Employer. An Employee will be credited with 45 Hours of Service if under Plan Section 1.30 such Employee would be credited with at least one Hour of Service during the week.
