Common use of Credit for Service Clause in Contracts

Credit for Service. Purchaser shall cause each benefit plan, severance plan and time-off program maintained, sponsored, adopted or contributed to by Purchaser or its Affiliates in which Transferred Employees are eligible to participate (collectively, the “Purchaser Benefit Plans”), to take into account for all purposes under Purchaser Benefit Plans the service of such employees with Seller or its Affiliates prior to the Transfer Date to the same extent as such service was credited for the applicable purpose by Seller or the applicable Affiliate, except that such credit shall not result in a duplication of benefits. In addition, Purchaser shall cause each Transferred Employee to be immediately eligible to participate, without any waiting time, in any and all Purchaser Benefit Plans, subject to Purchaser Employee Benefit eligibility requirements.

Credit for Service. Purchaser shall cause each benefit plan, severance plan and time-off program maintained, sponsored, adopted or contributed to by Purchaser or its Affiliates in which Transferred Employees are eligible to participate (collectively, the “Purchaser Benefit Plans”), to take into account for all purposes under Purchaser Benefit Plans (but not for purposes of accruing benefits under any defined benefit plan the service of such employees with Seller or its Affiliates prior to the Transfer Date to the same extent as such service was credited for the applicable purpose by Seller or the applicable Affiliate, except that such credit shall not result in a duplication of benefits. In addition, Purchaser shall cause each Transferred Employee Employee, other than those Transferred Employees who are hired during the month in which the Closing Date occurs, to be immediately eligible to participate, without any waiting time, in any and all Purchaser Benefit Plans, subject to Purchaser Employee Benefit eligibility requirements.