Common use of METHOD OF CREDITING HOURS OF SERVICE Clause in Contracts

METHOD OF CREDITING HOURS OF SERVICE. The Employer must elect in its Adoption Agreement the method the Administrative Committee will use in crediting an Employee with Hours of Service. For purposes of the Plan, "actual" method means the determination of Hours of Service from records of hours worked and hours for which the Employer makes payment or for which payment is due from the Employer. If the Employer elects to apply an "equivalency" method, for each equivalency period for which the Administrative Committee would credit the Employee with at least one Hour of Service, the Administrative Committee will credit the Employee with: (i)10 Hours of Service for a daily equivalency; (ii) 45 Hours of Service for a weekly equivalency; (iii) 95 Hours of Service for a semimonthly payroll period equivalency; and (iv) 190 Hours of Service for a monthly equivalency.

METHOD OF CREDITING HOURS OF SERVICE. The Employer must elect in its Adoption Agreement the method the Administrative Committee will use in crediting an Employee with Hours of Service. For purposes of the Plan, "actual" method means the determination of Hours of Service from records of hours worked and hours for which the Employer makes payment or for which payment is due from the Employer. If the Employer elects to apply an "equivalency" method, for each equivalency period for which the Administrative Committee would credit the Employee with at least one Hour of Service, the Administrative Committee will credit the Employee with: (i)10 i) 10 Hours of Service for a daily equivalency; (ii) 45 Hours of Service for a weekly equivalency; (iii) 95 Hours of Service for a semimonthly payroll period equivalency; and (iv) 190 Hours of Service for a monthly equivalency.

METHOD OF CREDITING HOURS OF SERVICE. The Employer must elect in its Adoption Agreement the method the Administrative Advisory Committee will use in crediting an Employee with Hours of Service. For purposes of the Plan, "actual" method means mean the determination of Hours of Service from records of hours worked and hours for which while the Employer makes payment or for which payment is due from the Employer. If the Employer elects to apply an "equivalency" method, for each equivalency period for which the Administrative Advisory Committee would credit the Employee with at least one Hour of Service, the Administrative Advisory Committee will credit the Employee with: (i)10 i) 10 Hours of Service for a daily equivalency; (ii) 45 48 Hours of Service for a weekly equivalency; (iii) 95 Hours of Service for a semimonthly payroll period equivalency; and (iv) 190 Hours of Service for a monthly equivalency.