Net Credited. Service – shall mean “net credited service” as defined by Part 1 or Part 3, as applicable, of the SuperMedia Pension Plan for Collectively Bargained Employees.
Net Credited. Service is the term used to express the aggregate of the years, months, and days of active employment with Valor or any of its predecessors which will be recognized by the Company with respect to each employee. For employees of GTE Corporation who were active employees working in the Oklahoma properties purchased by Valor on July 1, 2000, or the Texas/ New Mexico properties purchased on September 1, 2000, and who became active employees of Valor on those respective dates, the term "Net Credited Service" 18 <PAGE> also includes the Net Credited Service recognized by GTE as of each respective purchase date. Active employment will include only that time for which the employee actually receives pay or is on authorized Union or military leave of absence, and will not include time for which the employee receives Workers' Compensation as a result of being totally and permanently disabled in excess of one (1) year. Active employment will be computed in terms of whole work days. a. Current net credited service for any employee shall be determined as the date of hire or adjusted date of hire, whichever applies. 14.2 Net credited service ceases to exist coincident with discharge, release, resignation for any reason, or reclassification of a regular employee to non-regular employment. a. This provision will not serve to cancel net credited service previously earned by laid-off employees who accept occasional assignments during the period of layoff. 14.3 Regular employees who are reclassified as non-regular employees shall lose their net credited service and the net credited service for such employees shall be bridged only as outlined in the definition, "Net Credited Service," and as provided in this Article 14. 14.4 Net credited service will continue to accumulate during the first forty-five (45) calendar days of any layoff, but not thereafter. Seniority, however, will continue to accrue for not more than thirty (30) calendar months for purposes of recall from layoff. 14.5
