Common use of Employees and Employee Benefit Plans Clause in Contracts

Employees and Employee Benefit Plans. (a) Full time employees of Cohoes and its Subsidiaries who remain employed after the Effective Time will be eligible to participate in benefit plans of the Surviving Corporation and its Subsidiaries that are generally available to their full-time employees on a uniform and non-discriminatory basis in accordance with and subject to the terms and provisions of such benefit plans, with credit for years of service with Cohoes and its Subsidiaries for the purpose of determining eligibility for participation, vesting and entitlement to vacation time and sick pay (but not for the purpose of accrual or restoration of benefits under any Hudson Employee Plan or any future benefit plan of the Survivinx Xxxporation or any of its Subsidiaries where benefits are calculated on an actuarial basis, including any qualified or non-qualified defined benefit plan or restoration plan). Contributions to (and accrual of benefits, to the extent applicable, if any, under) benefit plans of the Surviving Corporation and its Subsidiaries on behalf of continuing full-time employees of Cohoes and its Subsidiaries shall only relate to qualifying compensation earned by such employees after the Effective Time subject to the terms and provisions of such employee plans. Notwithstanding anything contained above, continuing full time employees of Cohoes and its Subsidiaries shall not be eligible to participate in the Hudson (Surviving Corporation) ESOP until the plan year begxxxxxx April 1, 2001. The Surviving Corporation shall use its best efforts to cause any and all pre-existing condition limitations (to the extent such limitations did not apply to a pre-existing condition under the corresponding Cohoes group health plan) and eligibility waiting periods under its group health plans to be waived with respect to such participants and their eligible dependents.

Employees and Employee Benefit Plans. (a) Full Except as otherwise provided herein, full time employees of Cohoes Seller and its Subsidiaries Seller Bank who remain employed by Buyer after the Effective Time will be eligible to participate in benefit plans of the Surviving Corporation and its Subsidiaries Buyer that are generally available to their its full-time employees on a uniform and non-discriminatory basis in accordance with and subject to the terms and provisions of such benefit plans, with credit for years of service with Cohoes and its Subsidiaries Seller or Seller Bank for the purpose of determining eligibility for participation, vesting and entitlement to vacation time and sick pay (but not for the purpose of accrual or restoration of benefits under any Hudson Employee Plan existing or any future benefit plan of the Survivinx Xxxporation or any of its Subsidiaries Buyer where benefits are calculated on an actuarial basis, including any qualified or non-qualified defined benefit plan or restoration plan). Contributions to (and accrual of benefits, to the extent applicable, if any, under) benefit plans of the Surviving Corporation and its Subsidiaries Buyer on behalf of continuing full-time employees of Cohoes Seller and its Subsidiaries Seller Bank shall only relate to qualifying compensation earned by such employees after the Effective Time subject to the terms and provisions of such employee benefit plans. Notwithstanding anything contained above, continuing full time employees of Cohoes Seller and its Subsidiaries Seller Bank (i) shall not be entitled to any past service credit for their prior employment for any purposes whatsoever with respect to any post-termination or post-retirement welfare benefits of Buyer; and (ii) shall not be eligible to participate in the Hudson Buyer benefit restoration plan or any qualified plan of Buyer or any of its Subsidiaries (Surviving Corporationother than the 401(k) ESOP plan of Buyer into which the Seller Bank 401(k) plan has been merged) until the plan year begxxxxxx entry date occurring on April 1, 20012003. The Surviving Corporation Buyer shall use its best efforts to cause any and all pre-existing condition limitations (to the extent such limitations did not apply to a pre-existing condition under the corresponding Cohoes Seller group health plan) and eligibility waiting periods under its group health plans to be waived with respect to such participants and their eligible dependents.

Employees and Employee Benefit Plans. (a) Full time employees For a period of Cohoes and its Subsidiaries who remain employed after not less than one (1) year following the Effective Time will be eligible to participate in benefit plans of Closing Date, the Surviving Corporation shall provide all individuals who are employees of the Company and its the Subsidiaries that (including employees who are generally available to their full-time employees not actively at work on a uniform account of illness, disability or leave of absence) on the Closing Date (the "Affected Employees"), while employed by the Company or the Subsidiaries, with compensation and non-discriminatory basis benefits (not including equity compensation) which are substantially comparable in accordance with and subject the aggregate to the terms compensation and provisions of benefits provided to such benefit plans, with credit for years of service with Cohoes and its Subsidiaries for the purpose of determining eligibility for participation, vesting and entitlement to vacation time and sick pay (but not for the purpose of accrual or restoration of benefits under any Hudson Employee Plan or any future benefit plan Affected Employees as of the Survivinx Xxxporation or date of this Agreement. Nothing contained in this Section 5.16 shall be deemed to grant any of its Subsidiaries where benefits are calculated on an actuarial basis, including Affected Employee any qualified or non-qualified defined benefit plan or restoration plan). Contributions right to (and accrual of benefits, to the extent applicable, if any, under) benefit plans of the Surviving Corporation and its Subsidiaries on behalf of continuing full-time employees of Cohoes and its Subsidiaries shall only relate to qualifying compensation earned by such employees continued employment after the Effective Time subject to the terms and provisions of such employee plans. Notwithstanding anything contained above, continuing full time employees of Cohoes and its Subsidiaries shall not be eligible to participate in the Hudson (Surviving Corporation) ESOP until the plan year begxxxxxx April 1, 2001Closing Date. The Surviving Corporation shall use its best efforts continue to cause provide and recognize all accrued but unused vacation of Affected Employees as of the Closing Date. Any preexisting condition clause in any of the welfare plans (including medical, dental and all disability coverage) established or maintained by the Surviving Corporation after the Closing Date shall be waived for the Affected Employees (other than pre-existing condition limitations (conditions that are already in effect with respect to Affected Employees, to the extent permitted by Applicable Law), and Affected Employees shall be credited with service with the Company for all purposes under such limitations did not apply plans. Parent shall, and shall cause the Surviving Corporation to, assume and honor all agreements set forth in Section 5.16(a) of the Company Disclosure Letter to a pre-existing condition under the corresponding Cohoes group health extent of the respective terms of such agreements. Subject to the preceding sentence, nothing in this Agreement shall be interpreted as limiting the power of the Surviving Corporation or Parent to amend or terminate any particular Plan or any other particular employee benefit plan, program, agreement or policy or as requiring the Surviving Corporation or Parent to offer to continue the employment of any employee of the Company or its subsidiaries for any period of time or to offer to continue (other than as required by its written terms) and eligibility waiting periods under its group health plans to be waived with respect to such participants and their eligible dependentsany Plan.

Employees and Employee Benefit Plans. (a) Full Full-time employees of Cohoes Community Bankshares and its Subsidiaries who remain are employed by BBC or its Subsidiaries after the Effective Time will be eligible to participate in benefit plans of the Surviving Corporation BBC and its Subsidiaries that are generally available to their full-time employees on a uniform and non-discriminatory basis in accordance with and subject to the terms and provisions of such benefit plans, with credit for years of service with Cohoes Community Bankshares and its Subsidiaries for the purpose of determining eligibility for participation, vesting and entitlement to vacation time and sick pay (but not for the purpose of accrual or restoration of benefits under any Hudson Employee Plan existing or any future benefit plan of the Survivinx Xxxporation BBC or any of its Subsidiaries where benefits are calculated on an actuarial basis, including any qualified or non-qualified defined benefit plan or restoration plan). Contributions to (and accrual of benefits, to the extent applicable, if any, under) benefit plans of the Surviving Corporation BBC and its Subsidiaries on behalf of continuing full-time employees of Cohoes Community Bankshares and its Subsidiaries shall only relate to qualifying compensation earned by such employees after the Effective Time subject to the terms and provisions of such employee benefit plans. Notwithstanding anything contained above, continuing full full-time employees of Cohoes Community Bankshares and its Subsidiaries who meet any applicable age or year of service requirements shall not be eligible to participate in any qualified plan of BBC or any of its Subsidiaries as of the Hudson (Surviving Corporation) ESOP until Effective Time. BBC shall amend its qualified plans to the plan year begxxxxxx April 1extent necessary to accomplish the foregoing, 2001provided that such amendments are consistent with the Code and any other applicable Law. The Surviving Corporation BBC shall use its best efforts to cause any and all pre-existing condition limitations (to the extent such limitations did not apply to a pre-existing condition under the corresponding Cohoes Community Savings group health plan) and eligibility waiting periods under its group health plans to be waived with respect to such participants and their eligible dependents.

Employees and Employee Benefit Plans. (a) Full time employees of Cohoes Harbourton and its Subsidiaries who remain employed after the Effective Time will be eligible to participate in benefit plans of the Surviving Corporation and its Subsidiaries that are generally available to their full-time fulltime employees on a uniform and non-discriminatory nondiscriminatory basis in accordance with and subject to the terms and provisions of such benefit plans, with credit for years of service with Cohoes Harbourton and its Subsidiaries for the purpose of determining eligibility for participation, vesting and entitlement to vacation time and sick pay (but not for the purpose of accrual or restoration of benefits under any Hudson Allstate Employee Plan or any future benefit plan of the Survivinx Xxxporation Surviving Corporation or any of its Subsidiaries where benefits are calculated on an actuarial basis, including any qualified or non-qualified defined benefit plan or restoration plan). Contributions to (and accrual of benefits, to the extent applicable, if any, under) benefit plans of the Surviving Corporation and its Subsidiaries on behalf of continuing full-time employees of Cohoes Harbourton and its Subsidiaries shall only relate to qualifying compensation earned by such employees after the Effective Time subject to the terms and provisions of such employee plans. Notwithstanding anything contained above, continuing full time employees of Cohoes and its Subsidiaries shall not be eligible to participate in the Hudson (Surviving Corporation) ESOP until the plan year begxxxxxx April 1, 2001Time. The Surviving Corporation shall use its best efforts to cause any and all pre-existing preexisting condition limitations (to the extent such limitations did not apply to a pre-existing preexisting condition under the corresponding Cohoes Harbourton group health plan) and eligibility waiting periods under its group health plans to be waived with respect to such participants and their eligible dependents.

Employees and Employee Benefit Plans. (a) Full time employees From and for a period of Cohoes and its Subsidiaries who remain employed twelve months after the Effective Time Time, the Parent will be eligible to participate in benefit plans of cause the Surviving Corporation and its Subsidiaries that subsidiaries to maintain employee compensation policies and benefit plans for their respective employees that, in the aggregate, are generally available substantially similar to their full-time employees on a uniform either, in the discretion of the Parent, (i) the compensation policies and non-discriminatory basis in accordance with and subject to Plans of the terms and provisions of such benefit plans, with credit for years of service with Cohoes Company and its Subsidiaries for the purpose of determining eligibility for participation, vesting and entitlement to vacation time and sick pay (but not for the purpose of accrual or restoration of benefits under any Hudson Employee Plan or any future benefit plan subsidiaries as of the Survivinx Xxxporation date hereof, or any of (ii) those provided by the Parent and its Subsidiaries where benefits are calculated on an actuarial basisaffiliates to similarly situated employees employed by companies in substantially similar businesses to that engaged in by the Company. From and after the Effective Time, including any qualified or non-qualified defined benefit plan or restoration plan). Contributions to (the Parent will and accrual of benefits, to the extent applicable, if any, under) benefit plans of will cause the Surviving Corporation and its Subsidiaries on behalf of continuing full-time subsidiaries to honor, in accordance with their terms, the employment, severance, indemnification or similar agreements between the Company and its subsidiaries and certain employees (the "Employment Agreements") and each and every Plan. To the extent that employees of Cohoes and the Surviving Corporation or its Subsidiaries subsidiaries become eligible to participate in any employee benefit plan of the Parent or any of its affiliates after the Effective Time, the Parent shall only relate cause to qualifying compensation earned by be recognized thereunder the service of such employees with the Company or its subsidiaries completed prior to the Effective Time for all purposes of eligibility to participate and vesting in its benefit plans (but not for purposes of benefit accrual). If any employee is terminated following the purchase of Shares pursuant to the Offer, the employee shall be paid for his accrued but unused vacation time for periods prior to the Effective Time. Any benefit plan which provides medical, dental or life insurance benefits after the Effective Time subject to any individual who was an employee of the terms and provisions of such employee plans. Notwithstanding anything contained aboveCompany or its subsidiaries (or a dependent thereof) shall, continuing full time employees of Cohoes and its Subsidiaries shall not be eligible to participate in the Hudson (Surviving Corporation) ESOP until the plan year begxxxxxx April 1, 2001. The Surviving Corporation shall use its best efforts to cause any and all pre-existing condition limitations (to the extent such limitations did not apply to a pre-existing condition under the corresponding Cohoes group health plan) and eligibility waiting periods under its group health plans to be waived with respect to such participants individuals, waive any waiting periods and their eligible dependentsany pre-existing conditions and actively-at-work exclusions applicable to such individuals and shall provide that any expenses incurred on or before the Effective Time by such individuals shall be taken into account under such plans for purposes of satisfying applicable deductible or coinsurance provisions.

Employees and Employee Benefit Plans. (a) Full time employees of Cohoes and its Subsidiaries who remain employed after the Effective Time will be eligible to participate in benefit plans of the Surviving Corporation Xxxxxx and its Subsidiaries that are generally available to their full-time employees on a uniform and non-discriminatory basis in accordance with and subject to the terms and provisions of such benefit plans, with credit for years of service with Cohoes and its Subsidiaries for the purpose of determining eligibility for participation, vesting and entitlement to vacation time and sick pay (but not for the purpose of accrual or restoration of benefits under any Hudson Employee Plan existing or any future benefit plan of the Survivinx Xxxporation Xxxxxx or any of its Subsidiaries where benefits are calculated on an actuarial basis, including any qualified or non-qualified defined benefit plan or restoration plan). Contributions to (and accrual of benefits, to the extent applicable, if any, under) benefit plans of the Surviving Corporation Xxxxxx and its Subsidiaries on behalf of continuing full-time employees of Cohoes and its Subsidiaries shall only relate to qualifying compensation earned by such employees after the Effective Time subject to the terms and provisions of such employee benefit plans. Notwithstanding anything contained above, continuing full time employees of Cohoes and its Subsidiaries shall not be eligible to participate in the Hudson (Surviving Corporation) ESOP Xxxxxx Bank benefit restoration plan or any qualified plan of Xxxxxx or any of its Subsidiaries, including the Xxxxxx Bank retirement plan, Xxxxxx Bank savings plan and Xxxxxx employee stock ownership plan until the plan year begxxxxxx April 1commencing in 2002, 2001except that, to the extent permitted by the Code and any other applicable law, continuing full time employees of Cohoes and its Subsidiaries who are not participants in the Cohoes ESOP immediately prior to the Effective Time and otherwise meet the eligibility requirements of the Xxxxxx employee stock ownership plan (after taking into account their past service credit with Cohoes and its Subsidiaries) shall be permitted to participate in the Xxxxxx employee stock ownership plan as of the first entry date in such plan on or following the date of the Effective Time. The Surviving Corporation Xxxxxx shall amend its employee stock ownership plan to accomplish the foregoing, to the extent such amendments are consistent with the Code and any other applicable law. Xxxxxx shall use its best efforts to cause any and all pre-existing condition limitations (to the extent such limitations did not apply to a pre-existing condition under the corresponding Cohoes group health plan) and eligibility waiting periods under its group health plans to be waived with respect to such participants and their eligible dependents.

Employees and Employee Benefit Plans. (a) Full time employees of Cohoes and its Subsidiaries who remain employed after the Effective Time will be eligible to participate in benefit plans of the Surviving Corporation Xxxxxx and its Subsidiaries that are generally available to their full-time employees on a uniform and non-discriminatory basis in accordance with and subject to the terms and provisions of such benefit plans, with credit for years of service with Cohoes and its Subsidiaries for the purpose of determining eligibility for participation, vesting and entitlement to vacation time and sick pay (but not for the purpose of accrual or restoration of benefits under any Hudson Employee Plan existing or any future benefit plan of the Survivinx Xxxporation Xxxxxx or any of its Subsidiaries where benefits are calculated on an actuarial basis, including any qualified or non-qualified defined benefit - 50 - NEXT PAGE plan or restoration plan). Contributions to (and accrual of benefits, to the extent applicable, if any, under) benefit plans of the Surviving Corporation Xxxxxx and its Subsidiaries on behalf of continuing full-time employees of Cohoes and its Subsidiaries shall only relate to qualifying compensation earned by such employees after the Effective Time subject to the terms and provisions of such employee benefit plans. Notwithstanding anything contained above, continuing full time employees of Cohoes and its Subsidiaries shall not be eligible to participate in the Hudson (Surviving Corporation) ESOP Xxxxxx Bank benefit restoration plan or any qualified plan of Xxxxxx or any of its Subsidiaries, including the Xxxxxx Bank retirement plan, Xxxxxx Bank savings plan and Xxxxxx employee stock ownership plan until the plan year begxxxxxx April 1commencing in 2002, 2001except that, to the extent permitted by the Code and any other applicable law, continuing full time employees of Cohoes and its Subsidiaries who are not participants in the Cohoes ESOP immediately prior to the Effective Time and otherwise meet the eligibility requirements of the Xxxxxx employee stock ownership plan (after taking into account their past service credit with Cohoes and its Subsidiaries) shall be permitted to participate in the Xxxxxx employee stock ownership plan as of the first entry date in such plan on or following the date of the Effective Time. The Surviving Corporation Xxxxxx shall amend its employee stock ownership plan to accomplish the foregoing, to the extent such amendments are consistent with the Code and any other applicable law. Xxxxxx shall use its best efforts to cause any and all pre-existing condition limitations (to the extent such limitations did not apply to a pre-existing condition under the corresponding Cohoes group health plan) and eligibility waiting periods under its group health plans to be waived with respect to such participants and their eligible dependents.

Employees and Employee Benefit Plans. (a) Full time employees From and for a period of Cohoes and its Subsidiaries who remain employed twelve ------------------------------------ months after the Effective Time Time, the Parent will be eligible to participate in benefit plans of cause the Surviving Corporation and its Subsidiaries that subsidiaries to maintain employee compensation policies and benefit plans for their respective employees that, in the aggregate, are generally available substantially similar to their full-time employees on a uniform either, in the discretion of the Parent, (i) the compensation - policies and non-discriminatory basis in accordance with and subject to Plans of the terms and provisions of such benefit plans, with credit for years of service with Cohoes Company and its Subsidiaries for the purpose of determining eligibility for participation, vesting and entitlement to vacation time and sick pay (but not for the purpose of accrual or restoration of benefits under any Hudson Employee Plan or any future benefit plan subsidiaries as of the Survivinx Xxxporation date hereof, or any of (ii) those provided by the Parent and its Subsidiaries where benefits are calculated on an actuarial basisaffiliates to similarly situated -- employees employed by companies in substantially similar businesses to that engaged in by the Company. From and after the Effective Time, including any qualified or non-qualified defined benefit plan or restoration plan). Contributions to (the Parent will and accrual of benefits, to the extent applicable, if any, under) benefit plans of will cause the Surviving Corporation and its Subsidiaries on behalf of continuing full-time subsidiaries to honor, in accordance with their terms, the employment, severance, indemnification or similar agreements between the Company and its subsidiaries and certain employees (the "Employment Agreements") and each and every Plan. To the extent --------------------- that employees of Cohoes and the Surviving Corporation or its Subsidiaries subsidiaries become eligible to participate in any employee benefit plan of the Parent or any of its affiliates after the Effective Time, the Parent shall only relate cause to qualifying compensation earned by be recognized thereunder the service of such employees with the Company or its subsidiaries completed prior to the Effective Time for all purposes of eligibility to participate and vesting in its benefit plans (but not for purposes of benefit accrual). If any employee is terminated following the purchase of Shares pursuant to the Offer, the employee shall be paid for his accrued but unused vacation time for periods prior to the Effective Time. Any benefit plan which provides medical, dental or life insurance benefits after the Effective Time subject to any individual who was an employee of the terms and provisions of such employee plans. Notwithstanding anything contained aboveCompany or its subsidiaries (or a dependent thereof) shall, continuing full time employees of Cohoes and its Subsidiaries shall not be eligible to participate in the Hudson (Surviving Corporation) ESOP until the plan year begxxxxxx April 1, 2001. The Surviving Corporation shall use its best efforts to cause any and all pre-existing condition limitations (to the extent such limitations did not apply to a pre-existing condition under the corresponding Cohoes group health plan) and eligibility waiting periods under its group health plans to be waived with respect to such participants individuals, waive any waiting periods and their eligible dependentsany pre-existing conditions and actively-at-work exclusions applicable to such individuals and shall provide that any expenses incurred on or before the Effective Time by such individuals shall be taken into account under such plans for purposes of satisfying applicable deductible or coinsurance provisions.

Employees and Employee Benefit Plans. (a) Full Full-time employees of Cohoes Community Bankshares and its Subsidiaries who remain are employed by BBC or its Subsidiaries after the Effective Time will be eligible to participate in benefit plans of the Surviving Corporation BBC and its Subsidiaries that are generally available to their full-time employees on a uniform and non-non- discriminatory basis in accordance with and subject to the terms and provisions of such benefit plans, with credit for years of service with Cohoes Community Bankshares and its Subsidiaries for the purpose of determining eligibility for participation, vesting and entitlement to vacation time and sick pay (but not for the purpose of accrual or restoration of benefits under any Hudson Employee Plan existing or any future benefit plan of the Survivinx Xxxporation BBC or any of its Subsidiaries where benefits are calculated on an actuarial basis, including any qualified or non-qualified defined benefit plan or restoration plan). Contributions to (and accrual of benefits, to the extent applicable, if any, under) benefit plans of the Surviving Corporation BBC and its Subsidiaries on behalf of continuing full-time employees of Cohoes Community Bankshares and its Subsidiaries shall only relate to qualifying compensation earned by such employees after the Effective Time subject to the terms and provisions of such employee benefit plans. Notwithstanding anything contained above, continuing full full-time employees of Cohoes Community Bankshares and its Subsidiaries who meet any applicable age or year of service requirements shall not be eligible to participate in any qualified plan of BBC or any of its Subsidiaries as of the Hudson (Surviving Corporation) ESOP until Effective Time. BBC shall amend its qualified plans to the plan year begxxxxxx April 1extent necessary to accomplish the foregoing, 2001provided that such amendments are consistent with the Code and any other applicable Law. The Surviving Corporation BBC shall use its best efforts to cause any and all pre-existing condition limitations (to the extent such limitations did not apply to a pre-existing condition under the corresponding Cohoes Community Savings group health plan) and eligibility waiting periods under its group health plans to be waived with respect to such participants and their eligible dependents.

Employees and Employee Benefit Plans. (a) Full time employees of Cohoes and its Subsidiaries who remain employed after For at least one year ------------------------------------ following the Effective Time will be eligible to participate in benefit plans of Date, the Purchaser shall, or shall cause the Surviving Corporation and its Subsidiaries that are generally to, make available to their fulleach person who is an employee of the Company and its Subsidiaries at the Effective Time (the "Company ------- Employees") employee benefit plans and programs (other than stock-time based or --------- equity plans and vacation benefits) which are either (a) the same as are made - available to the employees of the Purchaser, on a uniform terms and non-discriminatory basis conditions which are no less favorable to the Company Employees than the terms and conditions generally applicable to the employees of the Purchaser or (b) no less favorable to the Company Employees - than the employee benefit plans and programs of the Company and its Subsidiaries as of the date hereof; provided that, the Purchaser retains the right to terminate such employees and to change terms of the coverage provided by the applicable plans in accordance with any change in an employee's status or as required by applicable Law. From and subject to after the terms and provisions of such benefit plansEffective Time, with credit for years of service with Cohoes and its Subsidiaries for the purpose purposes of determining eligibility for participationeligibility, vesting and entitlement to vacation time vacation, severance and sick pay (but not other benefits for the purpose of accrual or restoration of benefits employees under any Hudson Employee Plan compensation, severance, welfare, pension, benefit, savings or any future benefit other plan of the Survivinx Xxxporation Purchaser, the Surviving Corporation or any of its Subsidiaries where benefits are calculated on an actuarial basisin which employees of the Company or any of its Subsidiaries become eligible to participate, including service with the Company or any qualified or non-qualified defined benefit plan or restoration plan). Contributions to (and accrual of benefits, its Subsidiaries shall be credited as if such service had been rendered to the extent applicablePurchaser, if any, under) benefit plans of the Surviving Corporation and its Subsidiaries on behalf or such Subsidiary. In no event shall the severance benefits payable to any Company Employee whose employment terminates prior to the first anniversary of continuing full-time employees of Cohoes and its Subsidiaries shall only relate to qualifying compensation earned by such employees after the Effective Time subject be less than the amount that would have been payable to such employee under the terms and provisions of such employee plans. Notwithstanding anything contained above, continuing full time employees of Cohoes and its Subsidiaries shall not be eligible to participate in the Hudson (Surviving Corporation) ESOP until the severance policy or plan year begxxxxxx April 1, 2001. The Surviving Corporation shall use its best efforts to cause any and all pre-existing condition limitations (to the extent such limitations did not apply to a pre-existing condition under the corresponding Cohoes group health plan) and eligibility waiting periods under its group health plans to be waived with respect applicable to such participants and their eligible dependentsCompany Employee as of the date hereof.