��������Ƶ

How is Years of Service defined in a legal contract?

• Years of Service means the total number of full years that a participant has been employed by one or more [organizations]. The employment year is a 365 day period (or 366 day period in the case of a leap year) that begins on the participant's date of hiring and every anniversary of that date. Any partial year of employment is not counted. Seen in 190 SEC filings
• Years of Service means each completed year of service by the participant. For the purpose of [vesting], Years of Service are calculated from the date designated in the [agreement], and service is based on service with all participating [organizations]. Seen in 90 SEC filings
• Years of Service means each one-year period for which the participant receives service credit according to the provisions of [clause] in the [agreement]. Seen in 87 SEC filings
• Years of Service means the total number of years of accumulated service of the participant, as such term is defined with respect to salaried employees under the Retirement Plan for . Seen in 33 SEC filings
• Years of Service means the twelve (12)-month consecutive period that starts on the executive's date of hire and any twelve (12)-month anniversary thereafter during which the executive remains an employee of the Bank. Seen in 32 SEC filings
• Years of Service means the employee's total years of employment with a [organization], this includes years of employment with an entity that is acquired by a [organization] prior to that acquisition. Seen in 28 SEC filings
• Years of Service means the total number of annual periods of continuous employment or service with the company, measured from the award recipient's date of hire (or rehire) up until the date the award recipient leaves service. This includes employment or service with any affiliates or subsidiaries that became such after the grant date, including any predecessors and other entities approved by the committee (or its delegatee). Seen in 27 SEC filings

Note: pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

yourself to verify these results. We are always keen to point people to source documents.

‍

Which definition should you use?

🤔 has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

‍

Genie Definition 1

• Years of Service means the total full years a participant or employee has been employed by one or more [organizations].

Relevant Contract Types

• Employment Contracts
• Independent Contractor Agreements
• Confidentiality Agreements

Relevant Circumstances

• Determining eligibility for employment benefits
• Calculating tenure-related bonuses or shares
• Determining vesting schedules for equity grants

Relevant Sectors

• Human Resources
• Finance
• Technology

‍

Genie Definition 2

• Years of Service means the total full years a participant or employee has been providing service to one or more [organizations].

Relevant Contract Types

• Service Agreement
• Consulting Agreement
• Representation Agreement

Relevant Circumstances

• Calculating duration-based pay or bonuses in service agreements
• Determining service-related benefits or compensation
• Evaluating performance over a service tenure

Relevant Sectors

• Construction
• Consulting
• Real Estate

‍