Accrued Time Off. Allegion shall recognize and assume all Liability for all unused vacation, holiday, sick leave, flex days, personal days and paid-time off and other time-off benefits with respect to Allegion Group Employees which accrued prior to the Effective Time and Allegion shall credit each Allegion Group Employee with such accrual; provided, however, all Liabilities shall be reduced, dollar for dollar, to the extent that IR has made any payment related to any such unused vacation, holiday, sick leave, flex days, personal days and paid-time off and other time-off benefits with respect to Allegion Group Employees in accordance with applicable Law.
Appears in 3 contracts
Samples: Employee Matters Agreement (Allegion PLC), Employee Matters Agreement (Ingersoll-Rand PLC), Employee Matters Agreement (Allegion PLC)
Accrued Time Off. Allegion shall recognize and assume all Liability for all unused vacation, holiday, sick leave, flex days, personal days and paid-time off and other time-off benefits with respect to Allegion Group Employees which accrued prior to the Effective Time and Allegion shall credit each Allegion Group Employee with such accrual; provided, however, all Liabilities shall be reduced, dollar for dollar, to the extent that IR has made any payment related to any such unused vacation, holiday, sick leave, flex days, personal days and paid-time off and other time-off benefits with respect to Allegion Group Employees in accordance with applicable Law. Section 13.3.
Appears in 1 contract
Samples: Matters Agreement