Definition of Break in Service. For purposes of this Article V, a Participant incurs a Break in Service if during any Vesting Computation Period he/she does not complete more than 500 Hours of Service. If the Plan applies the Elapsed Time Method of crediting Service, a Participant incurs a Break in Service if the Participant has a Period of Severance of at least 12 consecutive months. If, pursuant to Section 5.05(A), the Plan does not require more than 500 Hours of Service to receive credit for a Year of Service, a Participant incurs a Break in Service in a Vesting Computation Period in which he/she fails to complete a Year of Service.
Appears in 5 contracts
Samples: Defined Contribution Pre Approved Plan (J&j Snack Foods Corp), Defined Contribution Prototype Plan and Trust Agreement (Bob Evans Farms Inc), 401(k) Plan Adoption Agreement (Knowles Corp)
