Service Recognition. SpinCo shall give, or shall cause its Affiliates to give, each SpinCo Group Employee full credit for all purposes under any SpinCo Benefit Plan for such SpinCo Group Employee’s service with Parent or any member of the Parent Group prior to the Effective Time to the extent such service was recognized by the corresponding Parent Benefit Plan immediately prior to the Effective Time; provided, however, that such service shall not be recognized to the extent that such recognition would result in the duplication of benefits.
Appears in 6 contracts
Samples: Employee Matters Agreement (Atlas Energy, L.P.), Employee Matters Agreement (Targa Resources Partners LP), Agreement and Plan of Merger (Atlas Pipeline Partners Lp)
Service Recognition. SpinCo Spinco shall give, or shall cause its Affiliates to give, give each SpinCo Group Employee Spinco Participant full credit for all purposes of eligibility, vesting, determination of level of benefits, and, to the extent applicable, benefit accruals under any SpinCo Benefit Spinco Plan for such SpinCo Group EmployeeSpinco Participant’s service with Parent or any member of the Parent Vector Group or Spinco Group prior to the Effective Time Distribution Date to the same extent such service was recognized by the corresponding Parent Benefit Plan Vector Plans immediately prior to the Effective TimeDistribution Date; provided, however, that such service shall not be recognized to the extent that such recognition would result in the duplication of benefits.
Appears in 4 contracts
Samples: Employee Matters Agreement (Douglas Elliman Inc.), Employee Matters Agreement (Douglas Elliman Inc.), Employee Matters Agreement (Douglas Elliman Inc.)
Service Recognition. SpinCo shall give, or shall cause its Affiliates to give, each SpinCo Group Employee full credit for all purposes under any SpinCo Benefit Plan for such SpinCo Group Employee’s service with Parent Ventas or any member of the Parent Group its Affiliates prior to the Effective Time to the same extent such service was recognized by the corresponding Parent Ventas Benefit Plan immediately prior to the Effective Time; provided, however, that such service shall not be recognized to the extent that such recognition would result in the duplication of benefitsbenefits or as otherwise provided by applicable Law.
Appears in 4 contracts
Samples: Employee Matters Agreement (Care Capital Properties, Inc.), Employee Matters Agreement (Care Capital Properties, Inc.), Employee Matters Agreement (Care Capital Properties, Inc.)
Service Recognition. SpinCo shall give, or shall cause its Affiliates to give, give each SpinCo Group Employee Participant full credit for all purposes of eligibility, vesting, determination of level of benefits, and, to the extent applicable, benefit accruals under any SpinCo Benefit Plan Plan, respectively, for such SpinCo Group EmployeeParticipant’s service with Parent or any member of the Parent ParentCo Group prior through the Distribution Date to the Effective Time to the same extent such service was recognized by the corresponding Parent applicable ParentCo Benefit Plan immediately prior to Plans as of the Effective TimeDistribution Date; provided, howeverthat, that such service shall not be recognized to the extent that such recognition would result in the duplication of benefits.
Appears in 2 contracts
Samples: Employee Matters Agreement (Theravance Biopharma, Inc.), Employee Matters Agreement (Theravance Biopharma, Inc.)
