Continuous Service and Breaks in Service

Counting Hours of Service

To determine how many hours of service you are credited with, the Plan uses the following rules:

• If you are an employee of the Company for whom the rate of pay in the books and records of the Company is an hourly rate of pay, you receive credit of one hour of service:
  • For every hour that you work for the Company; and
  • For every hour when you do not work but are approved to receive pay by the Company (for example, an hour of paid vacation).
• If you are an employee of the Company for whom the rate of pay in the books and records of the Company is not an hourly rate of pay, you receive credit of 190 hours of service:
  • For each month during which you work at least one hour for the Company; and
  • For each month when you do not work but are approved to receive pay by the Company (for example, when you receive pay from the Company during your vacation).
• For purposes of vesting only, you will be credited with hours of service in accordance with the rules above in this section of the SPD entitled “Counting Hours” on this page while you are receiving installment payments under a separation pay or severance plan sponsored by the Company.