Common use of DEFINITION OF HOUR OF EMPLOYMENT Clause in Contracts

DEFINITION OF HOUR OF EMPLOYMENT. An Hour of Employment for purposes of the Plan shall be each hour (1) for which an Employee is either directly or indirectly paid or entitled to payment by the Affiliated Employer for the performance of duties; (2) for which an Employee is either directly or indirectly paid or entitled to payment by the Affiliated 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; or (3) for which back pay, irrespective of mitigation of damages, is either awarded or agreed to by the Affiliated Employer; provided, however, that the same Hours of Employment shall not be credited both under clause (1) or clause (2) and this clause (3). Solely for purposes of clause (2) of the preceding sentence, (1) no more than 501 Hours of Employment shall be credited to an Employee on account of any single continuous period during which the Employee performs no duties (whether or not such period occurs in a single computation period);

Appears in 1 contract

Samples: 401(k) Savings Plan (Kaneb Services LLC)

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DEFINITION OF HOUR OF EMPLOYMENT. An Hour of Employment for purposes of the Plan shall be each hour (1) for which an Employee is either directly or indirectly paid or entitled to payment by the Affiliated Employer for the performance of duties; (2) for which an Employee is either directly or indirectly paid or entitled to payment by the Affiliated 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; or (3) for which back pay, irrespective of mitigation of damages, is either awarded or agreed to by the Affiliated Employer; provided, however, that the same Hours of Employment shall not be credited both under clause (1) or clause (2) and this clause (3). Solely for purposes of clause (2) of the preceding sentence, (1) no more than 501 Hours of Employment shall be credited to an Employee on account of any single continuous period during which the Employee performs no duties (whether or not such period occurs in a single computation period);; (2) Hours of Employment shall not be credited if payment therefor is made or due under a plan maintained solely for the purpose of complying with applicable workmen's compensation, or unemployment compensation or disability insurance laws; and

Appears in 1 contract

Samples: 401(k) Savings Plan (Kaneb Services LLC)

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