Common use of Standardized Plans Clause in Contracts

Standardized Plans. If this Plan is adopted as a standardized Plan, such Participant (i) is employed as an Eligible Employee (or on an authorized leave of absence as an Eligible Employee) on the last day of such Plan Year, (ii) terminated employment as an Eligible Employee during such Plan Year on or after Normal Retirement Age or Early Retirement Age or by reason of death or Disability, or (iii) such Participant is not employed on the last day of such Plan Year but completed more than 500 Hours of Service during such Plan Year (or the equivalent period described in section 2.2(d) if the "Elapsed Time" method is specified in the Adoption Agreement). Notwithstanding the foregoing, if the "Hours of Service" method is specified in the Adoption Agreement for a Plan Year beginning before the Final Compliance Date, section 2.2(a)(1)(iii) shall not apply and a Participant who satisfies the requirements of section 2.2(a)(1)(i) shall not be eligible to receive an allocation of the Employer Contribution or Forfeitures for such Plan Year unless such Participant also is credited with at least 1,000 Hours of Service in such Plan Year.

Standardized Plans. If this Plan is adopted as a standardized Plan, such Participant (i) is employed as an Eligible Employee (or on an authorized leave of absence as an Eligible Employee) on the me last day of such Plan Year, (ii) terminated employment as an Eligible Employee during such Plan Year on or after Normal Retirement Age or Early Retirement Age or by reason of death or Disability, or (iii) such Participant is not employed on the last day of such Plan Year but completed more than 500 Hours of Service during such Plan Year (or the me equivalent period described in section 2.2(d(S)2.2(d) if the "Elapsed Time" method is specified in the me Adoption Agreement). Notwithstanding the me foregoing, if the me "Hours of Service" method is specified in the me Adoption Agreement for a Plan Year beginning before the me Final Compliance Date, section 2.2(a)(1)(iii(S)2.2(a)(1)(iii) shall not apply and a Participant who satisfies the requirements of section 2.2(a)(1)(i(S)2.2(a)(1)(i) shall not be eligible to receive an allocation of the me Employer Contribution or Forfeitures for such Plan Year unless such Participant also is credited with at least 1,000 Hours of Service in such Plan Year.