HOURS OF SERVICE EQUIVALENCIES Sample Clauses

HOURS OF SERVICE EQUIVALENCIES. Service will be determined on the basis of the method selected below. Only one may be selected. The method selected will be applied to all Employees covered under the Plan. (Choose one):

HOURS OF SERVICE EQUIVALENCIES. Service will be determined on the basis of (select one): Option 1: [_] Actual hours for which an Employee is paid or entitled to payment. Option 2: [_] Days worked. An Employee will be credited with 10 Hours of Service if under the definition of Hours of Service Section such Employee would be credited with at least one Hours of Service during the day. Option 3: [_] Weeks worked. An Employee will be credited with 45 Hours of Service if under the definition of Hours of Service Section such Employee would be credited with at least one Hours of Service during the week. Option 4: [_] Semi-Monthly payroll periods worked. An Employee will be credited with 95 Hours of Service if under the definition of Hours of Service such Employee would be credited with at least one Hours of Service during the semi-monthly payroll period. Option 5: [_] Months worked. An Employee will be credited with 190 Hours of Service if under the definition of Hours of Service Section such Employee would be credited with at least one Hours of Service during the month. NOTE: If no option is selected, Option 1 shall be deemed to be selected. This Section Six, Part B will not apply if the elapsed time method of Section Six, Part C is selected.

HOURS OF SERVICE EQUIVALENCIES. If the Employer does not maintain records that accurately reflect the actual Hours of Service to be credited to an Employee, Hours of Service shall be credited in accordance with the following equivalency: (1) ☐ 10 Hours of Service for each day on which he performs an Hour of Service. (2) ☑ 45 Hours of Service for each week in which he performs an Hour of Service. (3) ☐ 95 Hours of Service for each semi monthly payroll period in which he performs an Hour of Service. Plan Name: AVX Greenville LLC 401(k) Plan 401(k) Safe Harbor Nonelective Employer Contributions hereunder will be made on behalf of "eligible" Participants, as defined in Section 1.12 and, if applicable, as limited herein. 401(k) Safe Harbor Nonelective Employer Contributions will only satisfy the "ADP" test with respect to Deferral Contributions made under this Plan. 401(k) Safe Harbor Nonelective Employer Contributions may only be distributed because of death, disability, severance from employment, age 59 1/2, or termination of the Plan without the establishment of a successor plan. In addition, each Plan Year, the Employer must provide written notice to all Active Participants of their rights and obligations under the Plan.

HOURS OF SERVICE EQUIVALENCIES. 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 covered under the Plan. (Choose one): OPTION 1: (o) On the basis of actual hours for which an Employee is paid or entitled to payment. OPTION 2: ( ) On the basis of days worked. An Employee will be credited with 10 Hours of Service if under Section 1.24 of the Plan such Employee would be credited with at least 1 Hour of Service during the day. OPTION 3: ( ) On the basis of weeks worked. An Employee will be credited with 45 Hours of Service if under Section 1.24 of the Plan such Employee would be credited with at least 1 Hour of Service during the weeks.

HOURS OF SERVICE EQUIVALENCIES. 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 covered under the Plan. (CHOOSE ONE): OPTION 1. [X] On the basis of actual hours for which an Employee is paid or entitled to payment. OPTION 2. [ ] On the basis of days worked. An Employee will be credited with 10 Hours of Service if under Section 1.24 of the Plan such Employee would be credited with at least 1 Hour of Service during the day. OPTION 3. [ ] On the basis of weeks worked. An Employee will be credited with 45 Hours of Service if under Section 1.24 of the Plan such Employee would be credited with at least 1 Hour of Service during the week. OPTION 4. [ ] On the basis of months worked. An Employee will be credited with 190 Hours of Service if under Section 1.24 of the Plan such Employee would be credited with at least 1 Hour of Service during the month. NOTE: IF NO OPTION IS SELECTED, OPTION 1 WILL BE DEEMED TO BE SELECTED. THIS SECTION 5, PART A WILL NOT APPLY IF THE ELAPSED TIME METHOD OF SECTION 5, PART B IS SELECTED.