From Interweave Knits, Fall 2006, page 114:

Five easily memorized stitch patterns form a pleasing combination in this sleek turtleneck pullover. Deep side slits keep the sweater from clinging at the hip, and the slits borders add even more stitch detail. The front and back pieces are worked from the bottom for the length of the slit, then the stitches are put on holders while the borders for the slits are picked up and knitted at each side. When the borders are complete, stitches for the remaining width of the front and back are picked up along the top edge of the borders, and the remainder of the front and back are knitted in the round from there. A smooth merino highlights the stitch detail.