Credit for Past Service. After the Effective Time, the Company and the Company Subsidiaries shall give the Transferred Employees full credit for their prior service with the Seller and the Seller Subsidiaries (or any service credited as such in connection with a previous acquisition by the Seller or any Seller Subsidiary): (i) for purposes of eligibility (including without limitation initial participation and eligibility for current benefits) and vesting under any qualified or nonqualified retirement or profit sharing plans maintained by the Company in which Transferred Employees may be eligible to participate; and (ii) for all purposes under any welfare benefit plans, “cafeteria plans” (as defined in Code Section 125), vacation plans and similar arrangements maintained by the Company. Notwithstanding anything contained herein to the contrary, the Company will not give credit for prior service to Transferred Employees as regards the Company’s retiree health plan.
Credit for Past Service. As of the Closing Date, the Purchaser or an ERISA Affiliate thereof will offer health plan coverage to Continuing Employees. The Purchaser shall either continue the health plan offered by the Sellers prior to the Closing Date or establish another health plan as the Purchaser determines in its sole discretion. Purchaser and its Affiliates shall be under no obligation to grant Continuing Employees credit in any of its employee benefit plans for any past service with the Sellers, for eligibility and vesting purposes or otherwise. It is understood and agreed that the Purchaser shall have the right, in its sole discretion, to amend, modify, or terminate such plans at any time. Nothing herein shall entitle any Continuing Employees to any coverage or benefits under any employee benefit plans of any Affiliate of Purchaser.
Credit for Past Service. Without limitation of the foregoing provisions of this Section 7.9, each participant in any benefit plan of the Surviving Corporation shall receive credit for service with KCPL or Western Resources, as the case may be, for purposes of (i) eligibility to participate, vesting and eligibility to receive benefits under any benefit plan of the Surviving Corporation or any of its Subsidiaries or affiliates and (ii) benefit accrual under any severance or vacation pay plan; provided, however, that such crediting of service shall not operate to duplicate any benefit to any such participant or the funding for any such benefit.
Credit for Past Service. For purposes of placement of a teacher on the salary schedule, credit for prior years of service shall be given for (see Appendix A):
(a) Full years of teaching experience with a valid teaching license, in any public school system, accredited non-public school system, or accredited college or university in the United States or Department of Defense Dependent Schools. In order to receive credit, employees must make application to the Office of Human Resources for transfer of past years of teaching experience that must be verified by the above applicable former employer(s).
(b) In the case of vocational teachers in state-approved trade and industrial education programs, including but not limited to auto mechanics, building trades, distributive education, drafting, electronics, food service, graphic arts, machine shop and vocational office education, full years of occupational experience which is directly related to the vocational subject for which the teacher is employed to teach, if verified by transcript or affidavit.
(c) Military service not to exceed six (6) years. The employee must present authentic proof that she/he took the oath of allegiance, served in either combat or noncombat units, wore the uniform of the United States military forces and was honorably discharged. A creditable year is defined as at least eight (8) months of full-time active duty taking place between the dates of July 1 and June 30 of the following year. In no case shall a teacher receive more years of credit for military service than she/he would have received had she/he been teaching during that period. The proof must show the date of induction and the date of separation and shall become a permanent part of the personnel folder. Such verified service shall be posted to the regular service record.
(d) Peace Corps service, not to exceed four (4) years. Proof of satisfactory Peace Corps service must be submitted. The proof must show the starting and the termination dates of volunteer service. This proof shall become a permanent part of the personnel folder. Such verified service shall be posted to the regular service record.
Credit for Past Service. After the Effective Time, Parent shall give or cause Parent Subsidiaries to give the Transferred Employees full credit for their prior service with the Company and the Company Subsidiaries (or any service credited as such in connection with a previous acquisition by the Company or any Company Subsidiary): (i) for purposes of eligibility (including without limitation initial participation and eligibility for current benefits) and vesting under any qualified defined contribution retirement plans maintained by Parent in which Transferred Employees may be eligible to participate; and (ii) for all purposes under any welfare benefit plans, “cafeteria plans” (as defined in Code Section 125), vacation or paid leave plans and similar arrangements maintained by Parent. Notwithstanding anything contained herein to the contrary, Parent will not give credit for prior service to Transferred Employees as regards Parent’s retiree health plan.
Credit for Past Service. Without limitation on the foregoing provisions of this Section 5.13, each participant of any PTC Benefit Plan shall receive credit for purposes of (i) eligibility to participate, vesting and eligibility to receive benefits under any IUB Benefit Plan or any benefit plan of the Surviving Corporation or any of its Subsidiaries that replaces a PTC Benefit Plan or IUB Benefit Plan, and (ii) benefit accrual under any severance, sickness or vacation pay plan, for service credited for the corresponding purpose under such PTC Benefit Plan; PROVIDED, HOWEVER, that such crediting of service shall not operate to duplicate any benefit to any such participant or the funding for any such benefit.
Credit for Past Service. After the Effective Time, Manpower shall give or will cause Manpower's Affiliates to give the Transferred Employees full credit for their prior service with the Company and the Company Subsidiaries (or any service credited as such in connection with a previous acquisition by the Company or any Company Subsidiary): (i) for purposes of eligibility (including without limitation initial participation and eligibility for current benefits) and vesting, but not for purposes of benefit accruals, under any qualified or nonqualified retirement or profit sharing plans maintained by Manpower in which Transferred Employees may be eligible to participate; and (ii) for all purposes under any welfare benefit plans, "cafeteria plans" (as defined in Code Section 125), vacation plans and similar arrangements maintained by Manpower. Notwithstanding anything contained herein to the contrary, Manpower will not give credit for prior service to Transferred Employees as regards Manpower's retiree health plan.
Credit for Past Service. Without limitation of the foregoing provisions of this Section 7.9, each participant in any benefit plan of the Surviving Corporation and each Ambassador Employee shall receive credit for service with Ambassador or AIMCO, as the case may be, for purposes of (i) eligibility to participate (including waiting periods and without being subject to any subsequent entry date requirement for which the waiting period has already been satisfied), vesting and eligibility to receive benefits (including without pre-existing conditions limitations) under any benefit plan of the Surviving Corporation or any of its Subsidiaries or affiliates and (ii) benefit accrual under any severance or vacation pay plan; provided, however, that such crediting of benefit accrual service shall not operate to duplicate any benefit to any such participant for the same period or the funding for any such benefit.
Credit for Past Service. The Buyer shall grant each of the Active Employees of the Company with credit for past years of employment at the Company with respect to eligibility and vesting under the Buyer’s employees benefit plans (subject to the terms and conditions of such plans).
Credit for Past Service. Buyer shall recognize the service time of all Assumed Employees for all purposes, including eligibility to participate and vesting, in Buyer’s employee benefit plans, including any qualified plan or group health care plan. Buyer agrees to give the Assumed Employees full credit for the accrued vacation, sick time, holiday pay and personal days earned or accrued by them during, and to which they are entitled as a result of, their employment by the Seller Group Companies, by allowing such Assumed Employees such accrued vacation, sick time, holiday pay and personal days as to which such Assumed Employees would have been entitled at the Closing Date under the policies of the Seller Group Companies if such Assumed Employees had remained employees of the Seller Group Companies.
