Subsequent Employer. If, during the one-year period following the Effective Time, a Moody's Employee or a New D&B Employee, who was employed by Corporation prior to the Effective Time, terminates employment with his or her employer and then immediately commences employment with the Moody's Group or the New D&B Group, the subsequent employer shall cause to be recognized (to the extent applicable) such employee's past service with the Corporation Group, the Moody's Group or the New D&B Group to the extent recognized under similar plans maintained by the prior employer. Notwithstanding the 24 24 foregoing, no past service shall be recognized with respect to final average compensation pension accruals under the defined benefit plans of the subsequent employer.
Appears in 2 contracts
Samples: Employee Benefits Agreement (New D&b Corp), Employee Benefits Agreement (Moodys Corp /De/)
Subsequent Employer. If, during the one-year period following the Effective Time, a Moody's Employee or a New D&B Employee, who was employed by Corporation prior to the Effective Time, terminates employment with his or her employer and then immediately commences employment with the Moody's Group or the New D&B Group, the subsequent employer shall cause to be recognized (to the extent applicable) such employee's past service with the Corporation Group, the Moody's Group or the New D&B Group to the extent recognized under similar plans maintained by the prior employer. Notwithstanding the 24 24 foregoing, no past service shall be recognized with respect to final average compensation pension accruals under the defined benefit plans of the subsequent employer.
Appears in 2 contracts
Samples: Employee Benefits Agreement (New D&b Corp), Employee Benefits Agreement (New D&b Corp)
