Common use of EXCLUSION OF NON Clause in Contracts

EXCLUSION OF NON. SALARIED EMPLOYEES ----------------------------------- The Employer, at its election, may exclude non-salaried (hourly paid) Employees from participation in the Plan, regardless of the number of Hours of Employment such Employees complete in any Plan Year. Notwithstanding the foregoing, for purposes of this Section and all purposes under the Plan, a non-salaried Employee that is hired following the adoption date of the Plan by the Employer, but prior to the adoption of this exclusion by the Employer, shall continue to be deemed to be an Employee and will continue to receive benefits on the same basis as a salaried Member, despite classification as a non-salaried Employee.

Appears in 6 contracts

Samples: Adoption Agreement (Pulaski Financial Corp), Adoption Agreement (BCSB Bankcorp Inc), Adoption Agreement (Allied First Bancorp Inc)

AutoNDA by SimpleDocs

EXCLUSION OF NON. SALARIED EMPLOYEES salaried Employees ----------------------------------- The Employer, at its election, may exclude non-salaried (hourly paid) Employees from participation in the Plan, regardless of the number of Hours of Employment such Employees complete in any Plan Year. Notwithstanding the foregoing, for purposes of this Section and all purposes under the Plan, a non-salaried Employee that is hired following the adoption date of the Plan by the Employer, but prior to the adoption of this exclusion by the Employer, shall continue to be deemed to be an Employee and will continue to receive benefits on the same basis as a salaried Member, despite classification as a non-salaried Employee.

Appears in 2 contracts

Samples: Adoption Agreement (American Financial Holding Corp Inc), First Community Financial Corp /Nc/

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