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How is Period of Service defined in a legal contract?

• Period of Service means the total of all time frames starting from the first day an employee starts or restarts work with an employer and ending on the day a [number]-Year Break in Service starts. The first day of work or rework is the first day the employee works for an hour. An employee will also receive partial credit for any break of less than [number] consecutive months. Fractional parts of a year will be expressed in terms of days. Seen in 703 SEC filings.
• Period of Service means the total duration of service beginning with an employee's first day of employment or reemployment with the employer and ending on the first day of a break in service, or for benefit accumulation purposes, ending on the severance from service date. The first day of employment or reemployment is the first day the employee works for an hour. An employee who incurs a break of [number] months or less will also receive service-spanning credit by treating any such period as a Period of Service for purposes of eligibility and vesting (but not benefit accrual). For purposes of benefit accrual, a participant's whole year-periods of service equals the sum of all full and partial periods of service, whether or not such service is continuous or contiguous, expressed in the number of whole years represented by such sum. Seen in 69 SEC filings.
• Period of Service means a duration of employment with employer that starts on the day on which an employee works his initial hour of service or performs his initial hour of service upon returning to the employer, whichever is applicable, and ends on the date the employee severs service. Seen in 33 SEC filings.
• Period of Service means the continuous period of the participant’s employment up to the termination date, and also includes any prior period of employment separated by: (i) any break in employment as a result of a leave of absence authorized by the company or by law; and (ii) any break in employment not authorized by the company or by law lasting [number] months or less. Seen in 26 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.

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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.

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Genie Definition 1

• Period of Service means the entire duration from an employee's initial day of employment to their severance, inclusive of any authorized leave periods.

Relevant Contract Types

• Employment Contract
• Independent Contractor Agreement
• Consultancy Agreement
• Services Agreement

Relevant Circumstances

• Hiring of a new employee
• Formation of consultancy arrangements
• Onboarding an independent contractor
• Provision of services

Relevant Sectors

• Human Resources
• Consulting
• Professional Services

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Genie Definition 2

• Period of Service means the total time an employee actively performs work, beginning from the first hour of service.

Relevant Contract Types

• Zero Hour Contract
• Part-time Employment Contract
• Casual Employment Contract

Relevant Circumstances

• Provision of zero-hour contracts
• Hiring part-time employees
• Arranging casual work agreements

Relevant Sectors

• Retail
• Hospitality
• Healthcare

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