Common use of Selection of Hours of Service Clause in Contracts

Selection of Hours of Service. The Employer may elect to modify the requirement that an Employee complete 1,000 Hours of Service during an Eligibility Computation Period to earn a Year of Service. Under Part 7, #23.a. of the Agreement [Part 7, #41.a. of the 401(k) Agreement], the Employer may designate a specific number of Hours of Service (which cannot exceed 1,000) that an Employee must complete during the Eligibility Computation Period to earn a Year of Service. Any Hours of Service designated in accordance with this subsection (a) will be determined using the Actual Hours Crediting Method, unless the Employer elects to use the Equivalency Method under Part 7, #23.b. of the Agreement [Part 7, #41.b. of the 401(k) Agreement].

Appears in 2 contracts

Samples: Prudential Retirement Services (National Penn Bancshares Inc), Plan and Trust Agreement (Mercantile Bancorp, Inc.)

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Selection of Hours of Service. The Employer may elect to modify the requirement that an Employee complete 1,000 Hours of Service during an Eligibility a Vesting Computation Period to earn a Year of Service. Under Part 7, #23.a25.a. of the Agreement [Part 7, #41.a43.a. of the 401(k) Agreement], the Employer may designate a specific number of Hours of Service (which cannot exceed 1,000) that an Employee must complete during the Eligibility Vesting Computation Period to earn a Year of Service. Any Hours of Service designated in accordance with this subsection (a) will be determined using the Actual Hours Crediting Method, unless the Employer elects to use the Equivalency Method under Part 7, #23.b25.b. of the Agreement [Part 7, #41.b43.b. of the 401(k) Agreement].

Appears in 2 contracts

Samples: Plan and Trust Agreement (Mercantile Bancorp, Inc.), Prudential Retirement Services (National Penn Bancshares Inc)

Selection of Hours of Service. The Employer may elect to modify the requirement that an Employee complete 1,000 Hours of Service during an Eligibility Computation Period to earn a Year of Service. Under Part 7, #23.a. of the Agreement [Part 7, #41.a. of the 401(kProfit Sharing/401(k) Agreement], the Employer may designate a specific number of Hours of Service (which cannot exceed 1,000) that an Employee must complete during the Eligibility Computation Period to earn a Year of Service. Any Hours of Service designated in accordance with this subsection (a) will be determined using the Actual Hours Crediting Method, unless the Employer elects to use the Equivalency Method under Part 7, #23.b. of the Agreement [Part 7, #41.b. of the 401(kProfit Sharing/401(k) Agreement].

Appears in 1 contract

Samples: Capital Corp of the West

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Selection of Hours of Service. The Employer may elect to modify the requirement that an Employee complete 1,000 Hours of Service during an Eligibility a Vesting Computation Period to earn a Year of Service. Under Part 7, #23.a25.a. of the Agreement [Part 7, #41.a43.a. of the 401(kProfit Sharing/401(k) Agreement], the Employer may designate a specific number of Hours of Service (which cannot exceed 1,000) that an Employee must complete during the Eligibility Vesting Computation Period to earn a Year of Service. Any Hours of Service designated in accordance with this subsection (a) will be determined using the Actual Hours Crediting Method, unless the Employer elects to use the Equivalency Method under Part 7, #23.b25.b. of the Agreement [Part 7, #41.b43.b. of the 401(kProfit Sharing/401(k) Agreement].

Appears in 1 contract

Samples: Capital Corp of the West

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