No Restoration After 5 Consecutive Breaks in Service Sample Clauses

No Restoration After 5 Consecutive Breaks in Service. If an Executive is reemployed after 5 consecutive Breaks in Service, no portion of his non-vested Account shall be restored and any undistributed vested interest shall be maintained as a separate fully vested Account. The vested Account balance of an Executive shall be paid from Trust Funds only to the extent the Company is not at the time of payment Insolvent as defined in Article XI. Any vested accrued benefits under the Plan represent an unfunded, unsecured promise by the Company to pay these benefits to the Executives when due. An Executive has no greater right to Trust assets than the general creditors of the Company in the event that the Company shall become Insolvent. Trust assets can be used to pay only vested accrued benefits under the Plan or the claims of the Company’s general creditors.
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No Restoration After 5 Consecutive Breaks in Service. If a Participant is reemployed after 5 consecutive Breaks in Service (or 5 consecutive one-year Periods of Severance), no portion of his non-vested Account shall be restored and any undistributed vested interest shall be maintained as a separate fully vested Account.

Related to No Restoration After 5 Consecutive Breaks in Service

  • Breaks in Service An employee’s seniority record shall be broken by voluntary resignation, discharge, reduction in force, or retirement. Should an employee laid off return to work within one year, the seniority will pick up from the date of return. Seniority rights will be forfeited if a continuous period of layoff exceeds one year. Should an employee leave his/her assignment in this bargaining unit for another position with the district, the seniority will be frozen. Should an employee return to this bargaining unit, seniority shall continue from the seniority level previously attained.

  • Break in Service No absence under any paid leave provisions of this Article shall be considered as a break in service for any employee who is in paid status, and all benefits accruing under the provisions of this Agreement shall continue to accrue under such absence.

  • Effect of Break in Service When an employee separates from state service and subsequently returns to state service, except as a temporary employee, the employee’s salary eligibility date shall be determined by the Agency as follows:

  • Years of Service A Participant’s Years of Service shall include all service performed for the Employer and ¨ Shall ¨ Shall Not include service performed for the Related Employer.

  • PERIOD OF SERVICE The Grant Services will commence on the Start Date and shall expire on the End Date as set forth in the SUMMARY PAGE.

  • IN-SERVICE When a nurse attends any in-service programme during her/his regularly scheduled working hours, she/he shall suffer no loss of pay. When a nurse is unable to do so, and attends the in-service programme outside her/his regularly scheduled hours, she/he shall be paid for all time attendance at her/his straight time rate of pay. If attendance is mandatory all applicable premiums will apply.

  • Changes in Service This Agreement is made in good faith based upon the present and projected conditions and the quality of the equipment and/or Property, as well as its present ownership and management. Should changes in any of these elements occur which the Judicial Council believes may adversely affect the Program, the Judicial Council reserves the right to renegotiate this Agreement or terminate pursuant to the termination for cause provision, as set forth herein, without penalty or prejudice.

  • Credited Service In addition to Current Credited Service the Adopting Employer may include as Credited Service the following types of service:

  • Year of Service An Employee must complete at least Hours of Service during a Vesting Computation Period to receive credit for a Year of Service under Article V. [Note: The number may not exceed 1,000. If left blank, the requirement is 1,000.]

  • Rest Period After Overtime (a) When overtime work is necessary, it will, wherever reasonably practicable, be so arranged that employees have at least 10 consecutive hours off duty between the work of successive days or shifts, including overtime. (b) An employee, other than a casual employee, who works so much overtime between the termination of their ordinary work on one day and the commencement of their ordinary work on the next day, that they have not had at least 10 consecutive hours off duty between those times, will be released after completion of such overtime, until they have had 10 consecutive hours off duty without loss of pay for ordinary working time occurring during such a absence. (c) If, on the instruction of the employer, an employee resumes or continues to work without having had 10 consecutive hours off duty, they will be paid at the rate of double time until released from duty for such period. The employee will then be entitled to be absent until they have had 10 consecutive hours off duty without loss of pay for rostered ordinary hours occurring during the absence.

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