Common use of Elapsed Time Method Clause in Contracts

Elapsed Time Method. Under the Elapsed Time Method, an Employee receives credit for Service for the aggregate of all time periods (regardless of the Employee's actual Hours of Service) commencing with the Employee's Employment Commencement Date, or with his/her Re‑Employment Commencement Date, and ending on the date a Break in Service begins in accordance with Treas. Reg. §1.410(a)‑7. See Section 2.02(C)(4). In applying the Elapsed Time Method, the Plan Administrator will credit an Employee's Service for any Period of Severance of less than 12‑consecutive months and will express fractional periods of Service in days.

Elapsed Time Method. Under the Elapsed Time Method, an Employee receives credit for Service for the aggregate of all time periods (regardless of the Employee's actual Hours of Service) commencing with the Employee's Employment Commencement Date, or with his/her Re‑Employment Re- Employment Commencement Date, and ending on the date a Break in Service begins in accordance with Treas. Reg. §1.410(a)‑7begins. See Section 2.02(C)(4). In applying the Elapsed Time Method, the Plan Administrator will credit an Employee's Service for any Period of Severance of less than 12‑consecutive 12-consecutive months and will express fractional periods of Service in days.

Elapsed Time Method. Under the Elapsed Time Method, an Employee receives credit for Service for the aggregate of all time periods (regardless of the Employee's actual Hours of Service) commencing with the Employee's Employment Commencement Date, or with his/her Re‑Employment Re-Employment Commencement Date, and ending on the date a Break in Service begins in accordance with Treas. Reg. §1.410(a)‑7begins. See Section 2.02(C)(4). In applying the Elapsed Time Method, the Plan Administrator will credit an Employee's Service for any Period of Severance of less than 12‑consecutive 12-consecutive months and will express fractional periods of Service in days.

Elapsed Time Method. Under the Elapsed Time Method, an Employee receives credit for Service for the aggregate of all time periods (regardless of the Employee's ’s actual Hours of Service) commencing with the Employee's ’s Employment Commencement Date, or with his/her Re‑Employment Re-Employment Commencement Date, and ending on the date a Break in Service begins in accordance with Treas. Reg. §1.410(a)‑7begins. See Section 2.02(C)(4)) . In applying the Elapsed Time Method, the Plan Administrator will credit an Employee's ’s Service for any Period of Severance of less than 12‑consecutive 12-consecutive months and will express fractional periods of Service in days.