Common use of HOUR OF SERVICE Clause in Contracts

HOUR OF SERVICE. (A) “Hour of Service” for the purpose of participation and benefit accrual means: (1) An Employee shall be credited with an Hour of Service for each hour for which the Employee is directly or indirectly paid, or entitled to payment, by the Employer or an affiliated Employer for the performance of duties, and for each hour for which the Employee is directly or indirectly paid, or entitled to such payment, by the Employer or an affiliated Employer for reasons other than for the performance of duties irrespective of whether the employment relationship has terminated (such as vacation, holidays, sickness, jury duty, disability, lay-off, military duty or leave of absence) during the applicable computation period. These hours shall include overtime hours, but credit is required to be given only for the hours actually worked irrespective of any increase in the rate of pay for such hours. (2) An Employee shall be credited with an Hour of Service for which back pay has been awarded or agreed to by the Employer. These Hours shall be credited to the Employee for the period or periods to which the award, agreement or payment pertains. The Hours to be credited will be determined without regard to the mitigation of damages for reasons such as the Employee’s bad faith or receipt of compensation from other sources during the period wrongfully not employed. (3) The number of an Employee’s Hours of Service and the Plan Year or other computation period to which they are to be credited shall be determined in accordance with Sections 2530.200b-2(b) and (c) of the Rules and Regulations for Minimum Standards for Employee Pension Benefit Plans, which sections are herein incorporated by reference. (4) Notwithstanding the above, (1) no more than 501 Hours of Service are required to 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) an hour for which an Employee is directly or indirectly paid, or entitled to payment, on account of a period during which no duties are performed is not required to be credited to the Employee if such payment is made or due under a plan maintained solely for the purpose of complying with applicable worker’s compensation, or unemployment compensation or disability insurance laws; and (3) Hours of Service are not required to be credited for a payment which solely reimburses an Employee for medical or medically related expenses incurred by the Employee. (5) Effective December 12, 1994, each hour for which an Employee is absent from work due to military service in the Armed Forces of the United States, as defined in Section 1.22, for the sole purpose of determining whether a Break in Service has occurred. Hours of Service pursuant to this paragraph (E) shall be credited only to the extent they would have been credited but for such absence, or if such number of Hours of Service cannot be determined, at the rate of 8 Hours of Service per day of absence. In no event, however, shall the number of Hours of Service credited pursuant to this paragraph exceed the minimum number of Hours of Service needed to prevent the occurrence of a Break in Service in the Plan Year such absence begins. However, if in the Plan Year such absence begins, the Employee had earned a sufficient number of Hours of Service to prevent the occurrence of a Break in Service without regard to this paragraph the Employee shall be credited with the minimum number of Hours of Service needed to prevent the occurrence of a Break in Service during the Plan Year which immediately follows the Plan Year in which the absence begins.

Appears in 1 contract

Samples: Annuity Fund Agreement

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HOUR OF SERVICE. (A) “Hour of Service” for the purpose of participation and benefit accrual Service means: (1a) An Employee shall be credited with an Hour of Service for each Each hour for which the an Employee is directly or indirectly paid, or entitled to payment, by the Employer or an affiliated Employer for the performance of duties, and for each hour for which the Employee is directly or indirectly paid, or entitled to such payment, by the Employer or an affiliated Employer for reasons other than for the performance of duties irrespective of whether the employment relationship has terminated (such as vacation, holidays, sickness, jury duty, disability, lay-off, military duty or leave of absence) during the applicable computation period. These hours shall include overtime hours, but credit is required to be given only for the hours actually worked irrespective of any increase in the rate of pay for such hours. (2) An Employee shall be credited with an Hour of Service for which back pay has been awarded or agreed to by the Employer. These Hours shall be credited to the Employee for the computation period or periods in which the duties are performed; and (b) Each hour for which an Employee is paid, or entitled to payment, by an Employer on account of a period of time during which no duties are performed (irrespective of whether the employment relationship has terminated) vacation, holiday, illness, incapacity (including disability), layoff, jury duty, military duty or leave of absence. Hours under this subsection shall be calculated and credited pursuant to Section 2530.200b-2 of the Department of Labor Regulations which are incorporated herein by this reference; and (c) Each hour for which back pay, irrespective of mitigation of damages, has been either awarded or agreed to by an Employer. The same Hours of Service shall not be credited both under subsection (a) or subsection (b), as the case may be, and under this subsection (c). These hours shall be credited to the Employee for the computation period or periods to which the award or agreement pertains rather than the computation period in which the award, agreement or payment pertainsis made. The Hours to be credited will be determined without regard to the mitigation of damages for reasons such as the Employee’s bad faith or receipt of compensation from other sources during the period wrongfully not employed. (3) The number of an Employee’s No more than 199 Hours of Service and will be credited during any Plan Year for payments of back pay, to the extent back pay is agreed to or awarded for a period of time during which the Employee did not or would not have performed duties. Such Hours of Service shall be credited to the Plan Year or other computation period Plan Years to which they are the back pay award or agreement pertains, rather than to be credited shall be determined the Plan Year or Plan Years in accordance with Sections 2530.200b-2(b) and (c) of the Rules and Regulations for Minimum Standards for Employee Pension Benefit Plans, which sections are herein incorporated by reference. (4) Notwithstanding the above, (1) no more than 501 Hours of Service are required to be credited to an Employee on account of any single continuous period during which the Employee performs no duties (whether award or not agreement is made. If the Board of Trustees enters into a reciprocity agreement, any money and hours transferred to this Plan under such period occurs in a single computation period); (2) an hour for which an Employee is directly or indirectly paid, or entitled to payment, on account of a period during which no duties are performed is not required to reciprocity agreement shall be credited to the Employee if Participant's Individual Participant Account. Any money and hours transferred from this Plan in accordance with such payment is made or due under a plan maintained solely reciprocity agreement shall be removed from the records of this Plan and shall no longer be credited for the purpose of complying with applicable worker’s compensation, or unemployment compensation or disability insurance laws; and (3) Hours of Service are not required to be credited for a payment which solely reimburses an Employee for medical or medically related expenses incurred by determining the Employee. (5) Effective December 12, 1994, each hour for which an Employee is absent from work due to military service in the Armed Forces value of the United States, as defined in Section 1.22, for Participant's Individual Participant Account nor the sole purpose of determining whether a Break in Service has occurred. Hours of Service pursuant to this paragraph (E) shall be credited only to the extent they would have been credited but for such absence, or if such number of Hours of Service cannot be determined, at the rate of 8 Hours of Service per day of absence. In no event, however, shall the number of Hours of Service credited pursuant to this paragraph exceed the minimum number of Hours of Service needed to prevent the occurrence of a Break in Service in the Plan Year such absence begins. However, if in the Plan Year such absence begins, the Employee had earned a sufficient number of Hours of Service to prevent the occurrence of a Break in Service without regard to this paragraph the Employee shall be credited with the minimum number of Hours of Service needed to prevent the occurrence of a Break in Service during the Plan Year which immediately follows the Plan Year in which the absence beginsvested status thereof.

Appears in 1 contract

Samples: Southeastern Iron Workers Annuity Plan

HOUR OF SERVICE. (Aa) “Hour of Service” for the purpose of participation and benefit accrual means: (1) An Employee shall be credited with an Hour of Service for each Each hour for which the an Employee (including an individual considered an Employee under Code section 414(n)) is directly or indirectly paid by (or entitled to payment from) an Affiliated Employer for performing services. The Plan Administrator must credit hours for the computation periods in which the services are performed. (b) Each hour for which an Employee is paid, or entitled to payment, by the Employer or an affiliated Employer for the performance on Account of duties, and for each hour for a period of time during which the Employee is directly or indirectly paid, or entitled to such payment, by the Employer or an affiliated Employer for reasons other than for the performance of no duties are performed (irrespective of whether the employment relationship has terminated (such as terminated) due to vacation, holidaysholiday, sicknessillness incapacity (including Disability), jury duty, disabilitymilitary duty, lay-off, military duty layoff or leave of absence) during the applicable computation period. These hours shall include overtime hours, but credit is required to be given only for the hours actually worked irrespective No Hours of any increase in the rate of pay for such hours. (2) An Employee Service shall be credited under this paragraph with an Hour of Service for which back pay has been awarded or agreed respect to by the Employer. These Hours shall be credited to the Employee for the period or periods to which the award, agreement or payment pertains. The Hours to be credited will be determined without regard to the mitigation of damages for reasons such as the Employee’s bad faith or receipt of compensation from other sources during the period wrongfully not employed. (3) The number of an Employee’s Hours of Service and the Plan Year or other computation period to which they are to be credited shall be determined in accordance with Sections 2530.200b-2(b) and (c) of the Rules and Regulations for Minimum Standards for Employee Pension Benefit Plans, which sections are herein incorporated by reference. (4) Notwithstanding the above, (1) no more than 501 Hours of Service are required to be credited to an Employee on account of payments made under any single continuous period during which the Employee performs no duties (whether or not such period occurs in a single computation period); (2) an hour for which an Employee is directly or indirectly paid, or entitled to payment, on account of a period during which no duties are performed is not required to be credited to the Employee if such payment is made or due under a plan maintained solely for the purpose of complying with applicable worker’s 's compensation, unemployment compensation, or unemployment compensation or disability insurance laws; and (3) Hours of Service are not required laws or made solely to be credited for a payment which solely reimburses an Employee reimburse the individual for medical or medically related expenses incurred by the Employeeindividual. (5c) Effective December 12, 1994The Plan Administrator must calculate and credit the hours (as described in subsections (a) and (b) above) according to Department of Labor Regulations section 2530.200b-2 which is incorporated by reference. If an Employer finds it impractical to count the actual Hours of Service for any class or group of Employees, each Employee in that class or group shall be credited with the Hours of Service shown in the following table for each pay period in which the Employee has at least one Hour of Service: Pay Period Hours of Service Credit ----------------------- ------------------------- daily 10 weekly 45 bi-weekly 90 semi-monthly 95 monthly 190 -14- However, an Employee shall be credited only for his normal working hours during a paid absence. The Plan Administrator must credit no more than 501 Hours of Service to an Employee under this subsection (b) during a single, continuous period of service, whether or not the period occurs in a single computation period. (d) Each hour for which back pay (whether or not damages have been reduced) has been awarded or agreed to by the Employer or an Affiliated Employer. Hours must be credited for the period or periods to which the award or agreement pertains, rather than for the computation period in which the award or agreement is made. The same Hours of Service must not be credited under subsections (a) and (b) above, as applicable, and under this subsection (d). (e) If an Employee is absent from work due for the following reasons (generally referred to military service in the Armed Forces of the United States, subsection as defined in Section 1.22, for the sole purpose of determining whether a Break in Service has occurred. Hours of Service pursuant to this paragraph (E) shall be credited only to the extent they would have been credited but for such "parental absence, or if such number of Hours of Service cannot be determined, at the rate of 8 Hours of Service per day of absence. In no event, however, shall the number of Hours of Service credited pursuant to this paragraph exceed the minimum number of Hours of Service needed to prevent the occurrence of a Break in Service in the Plan Year such absence begins. However, if in the Plan Year such absence begins, the Employee had earned a sufficient number of Hours of Service to prevent the occurrence of a Break in Service without regard to this paragraph the Employee shall be credited with the minimum number of Hours of Service needed to prevent the occurrence of a Break in Service during the Plan Year which immediately follows the Plan Year in which the absence begins."):

Appears in 1 contract

Samples: 401(k) Profit Sharing Plan Agreement (C Cube Microsystems Inc)

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HOUR OF SERVICE. (Aa) “Hour of Service” for the purpose of participation and benefit accrual means: (1) An Any Employee or Participant who is compensated on an hourly-rated basis shall be credited with an Hour of Service for for: (i) each hour for which the Employee or Participant is either directly or indirectly paid, paid or entitled to payment, payment by the Employer or an affiliated Employer for the performance of duties, and for each hour for which the Employee is directly duties or indirectly paid, or entitled to such payment, by the Employer or an affiliated Employer for reasons other than for the performance of duties irrespective of whether the employment relationship has terminated (such as due to vacation, holidaysholiday, sicknessillness, incapacity (including disability), layoff, jury duty, disability, lay-off, military duty or leave of absence) during , whether or not the applicable computation period. These hours shall include overtime hours, but credit is required to be given only for the hours actually worked irrespective of any increase in the rate of pay for such hours.employment relationship was terminated; and (2ii) An Employee shall be credited with an Hour of Service each hour for which back pay has been awarded to the Employee or Participant or agreed to by the Employer. These , irrespective of mitigation of damages. (b) Any Employee or Participant who is compensated on a basis other than an hourly-rated basis and who, if hourly-rated, would be credited with one (1) Hour of Service pursuant to the preceding sentence, shall be credited with the number of Hours of Service as follows: (i) ten (10) hours of service per day, if compensated on a daily basis; (ii) forty-five (45) hours of service per week, if compensated on a weekly basis; (iii) ninety (90) hours of service per bi-weekly period, if compensated on a bi-weekly basis; (iv) ninety-five (95) hours of service per semi-monthly period, if compensated on a semi-monthly basis; or (v) one hundred ninety (190) hours of service per month, if compensated on a monthly basis. (c) The number of Hours of Service which shall be credited to the an Employee or Participant for being entitled to payment for reasons other than for the period or periods to which the award, agreement or payment pertains. The Hours to be credited will be determined without regard to the mitigation performance of damages for reasons such as the Employee’s bad faith or receipt of compensation from other sources during the period wrongfully not employed. (3) The number of an Employee’s Hours of Service and the Plan Year or other computation period to which they are to be credited duties shall be determined in accordance with under Sections 2530.200b-2(b) and (c) of the Rules and Department of Labor Regulations which are incorporated herein by this reference. The method for Minimum Standards for Employee Pension Benefit Plans, which sections are herein incorporated by reference. (4) Notwithstanding the above, (1) no more than 501 crediting Hours of Service are required to under Section 1.27(b) for each Participant shall be the same method used for crediting Hours of Service for which the Participant received compensation. Notwithstanding the foregoing, not more than five hundred one (501) Hours of Service shall be credited to an any Employee on account of or Participant during any single Computation Period for any single, continuous period during which the Employee or Participant performs no duties (whether or not such period occurs in a single computation period); (2) an hour for which an Employee is directly or indirectly paid, or entitled to payment, on account of a period during which no duties are performed is not required to be credited to the Employee if such payment is made or due under a plan maintained solely for the purpose of complying with applicable worker’s compensation, or unemployment compensation or disability insurance laws; and (3) Hours of Service are not required to be credited for a payment which solely reimburses an Employee for medical or medically related expenses incurred by the Employeeduties. (5d) Effective December 12, 1994, each hour An Hour of Service performed for which any other entity that is a Related Employer with respect to the Employer shall be considered an Employee is absent from work due to military service in the Armed Forces Hour of the United States, as defined in Section 1.22, Service performed for the sole purpose of determining whether a Break in Service has occurred. Hours of Service pursuant to this paragraph (E) shall be credited only to the extent they would have been credited but for such absence, or if such number of Hours of Service cannot be determined, at the rate of 8 Hours of Service per day of absence. In no event, however, shall the number of Hours of Service credited pursuant to this paragraph exceed the minimum number of Hours of Service needed to prevent the occurrence of a Break in Service in the Plan Year such absence begins. However, if in the Plan Year such absence begins, the Employee had earned a sufficient number of Hours of Service to prevent the occurrence of a Break in Service without regard to this paragraph the Employee shall be credited with the minimum number of Hours of Service needed to prevent the occurrence of a Break in Service during the Plan Year which immediately follows the Plan Year in which the absence beginsEmployer.

Appears in 1 contract

Samples: Profit Sharing and Savings Plan and Trust (Patina Oil & Gas Corp)

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