Common use of Elapsed Time Method Clause in Contracts

Elapsed Time Method. The Employer may elect under Part 7, #25.c. of the Agreement [Part 7, #43.c. of the 401(k) Agreement] to use the Elapsed Time Method (as defined in Section 6.5(b)) instead of counting Hours of Service in applying the vesting provisions under Article 4. The Elapsed Time Method may not be selected if the Employer elects to apply a designated Hours of Service requirement under Part 7, #25.a. of the Agreement [Part 7, #43.a. of the 401(k) Agreement].

Elapsed Time Method. The Employer may elect under Part 74, #25.c15.e. of the Nonstandardized Agreement [Part 74B, #43.c19.e. and Part 4C, #24.e. of the Nonstandardized 401(k) Agreement] to use apply the allocation conditions using the Elapsed Time Method (as defined in Section 6.5(b)) Method. Under the Elapsed Time Method, instead of counting requiring the completion of a specified number of Hours of Service in applying the vesting provisions under Article 4. The Elapsed Time Method may not be selected if Service, the Employer elects may require an Employee to apply be employed with the Employer for a designated Hours specified number of Service requirement under Part 7, #25.a. of the Agreement [Part 7, #43.a. of the 401(k) Agreement]consecutive days.