Service Recognition. (a) From and after the Effective Time, to the extent permitted by the terms of the applicable SpinCo Benefit Arrangement, SpinCo shall, and shall cause each member of the SpinCo Group to, give each SpinCo Employee full credit for purposes of eligibility, vesting and determination of level of benefits under any SpinCo Benefit Arrangement for such SpinCo Employee’s prior service with any member of the DevCo Group or SpinCo Group or any predecessor thereto, to the same extent such service was recognized by the applicable Aimco Benefit Arrangement; provided that, such service shall not be recognized to the extent it would result in the duplication of benefits.
Appears in 4 contracts
Samples: Employee Matters Agreement (Aimco OP L.P.), Employee Matters Agreement (Aimco OP L.P.), Employee Matters Agreement (Apartment Income REIT Corp.)
Service Recognition. (a) From and after the Effective Time, to the extent permitted by the terms of the applicable SpinCo Benefit Arrangement, SpinCo shall, and shall cause each member of the Product SpinCo Group to use commercially reasonable efforts to, give each SpinCo Employee full credit for purposes of eligibility, vesting and determination of level of benefits under any SpinCo Benefit Arrangement for such SpinCo Employee’s prior service with any member of the DevCo IP RemainCo Group or the Product SpinCo Group or any predecessor thereto, to the same extent such service was recognized by the applicable Aimco Xperi Benefit Arrangement; provided that, such service shall not be recognized to the extent it would result in the duplication of benefits.
Appears in 3 contracts
Samples: Employee Matters Agreement (Xperi, Inc.), Employee Matters Agreement (Xperi Inc.), Employee Matters Agreement (Xperi Inc.)
Service Recognition. (a) From and after Effective no later than the Effective Time, and in addition to any applicable obligations under the extent permitted by the terms of the Transfer Regulations or other applicable SpinCo Benefit ArrangementLaw, SpinCo shall, and shall cause each member of the SpinCo Group to, give each SpinCo Employee full credit for purposes of eligibility, vesting vesting, and determination of level of benefits under any SpinCo Benefit Arrangement for such SpinCo Employee’s prior service with any member of the DevCo Parent Group or SpinCo Group or any predecessor thereto, to the same extent such service was recognized by the applicable Aimco Parent Benefit Arrangement; provided provided, that, such service shall not be recognized to the extent it would result in the duplication of benefits.
Appears in 2 contracts
Samples: Employee Matters Agreement (N-Able, LLC), Employee Matters Agreement (N-Able, Inc.)
