Common use of REQUALIFICATION PRIOR TO FIVE CONSECUTIVE Clause in Contracts

REQUALIFICATION PRIOR TO FIVE CONSECUTIVE. ONE-YEAR BREAKS IN SERVICE The account balance of such Participant shall consist of any undistributed amount in his or her account as of the date of re-employment plus any future contributions added to such account plus the investment earnings on the account. The Vested Account Balance of such Participant shall be determined by multiplying the Participant's account balance (adjusted to include any distribution or redeposit made under paragraph 6.3) by such Participant's vested percentage. All Service of the Participant, both prior to and following the break, shall be counted when computing the Participant's vested percentage.

Appears in 2 contracts

Samples: Port Financial Corp, Berkshire Hills Bancorp Inc

AutoNDA by SimpleDocs

REQUALIFICATION PRIOR TO FIVE CONSECUTIVE. ONE-YEAR BREAKS IN SERVICE The account balance of such Participant shall consist of any undistributed amount in his or her account as of the date of re-employment plus any future contributions added to such account plus the investment earnings on the account. The Vested Account Balance vested account balance of such Participant shall be determined by multiplying the Participant's account balance (adjusted to include any distribution or redeposit made under paragraph 6.3) by such Participant's vested percentage. All Service of the Participant, both prior to and following the break, shall be counted when computing the Participant's vested percentage.

Appears in 2 contracts

Samples: Non Standardized Adoption Agreement (Princeton Review Inc), Standarized Adoption Agreement (Oregon Trail Financial Corp)

AutoNDA by SimpleDocs

REQUALIFICATION PRIOR TO FIVE CONSECUTIVE. ONE-YEAR BREAKS IN SERVICE The account balance of such Participant shall consist of any undistributed amount in his or her account as of the date of re-employment plus any future contributions added to such account plus the investment earnings on the account. The Vested Account Balance vested account balance of such Participant shall be determined by multiplying the Participant's account balance (adjusted to include any distribution or redeposit made under paragraph 6.36.3 hereof) by such Participant's vested percentage. All Service of the Participant, both prior to and following the break, shall be counted when computing the Participant's vested percentage.

Appears in 1 contract

Samples: Professionals Insurance Co Management Group

Time is Money Join Law Insider Premium to draft better contracts faster.