No Duplication of Benefits; Service and Other Credit. Dover and Xxxxxxx shall have adopted, or caused to have been adopted, all reasonable and necessary amendments and procedures to prevent Xxxxxxx Participants from receiving duplicative benefits from the Dover Plans and the Xxxxxxx Plans. With respect to Xxxxxxx Participants, each Xxxxxxx Plan shall provide that for purposes of determining eligibility to participate, vesting, and entitlement to benefits (but not for accrual of pension benefits under any defined benefit pension plan), service prior to the Plan Separation Date with a member of the Dover Group shall be treated as service with a member of the Xxxxxxx Group. The Parties shall use their reasonable efforts so that such service also shall apply for purposes of satisfying any waiting periods, evidence of insurability requirements, or the application of any preexisting condition limitations under any Xxxxxxx Plan. Each Xxxxxxx Plan shall, to the extent practicable, waive pre-existing condition limitations with respect to Xxxxxxx Participants. Xxxxxxx shall use reasonable efforts to honor any deductible, co-payment and out-of-pocket maximums incurred by the Xxxxxxx Participants under the Dover Plans in which they participated immediately prior to the Plan Separation Date, if any, in satisfying any deductibles, co-payments or out-of-pocket maximums under the Xxxxxxx Plans in which they are eligible to participate after the Plan Separation Date in the same plan year in which any such deductibles, co-payments or out-of-pocket maximums were incurred.
Appears in 4 contracts
Samples: Employee Matters Agreement (Knowles Corp), Employee Matters Agreement (DOVER Corp), Employee Matters Agreement (Knowles Corp)
No Duplication of Benefits; Service and Other Credit. Dover SWBI and Xxxxxxx AOUT shall have adoptedadopt, or caused cause to have been be adopted, all reasonable and necessary amendments and procedures to prevent Xxxxxxx AOUT Participants from receiving duplicative benefits from the Dover SWBI Plans and the Xxxxxxx AOUT Plans. With respect to Xxxxxxx ParticipantsAOUT Employees, each Xxxxxxx AOUT Plan shall provide that for purposes of determining eligibility to participate, vesting, and entitlement to benefits (but not for accrual of pension benefits under any defined benefit pension plan), service prior to the Plan Separation Date Distribution Time with a SWBI Group member of the Dover Group shall be treated as service with a member of the Xxxxxxx Groupapplicable AOUT Group member. The Parties shall use their reasonable efforts so that such Such service also shall apply for purposes of satisfying any waiting periods, evidence of insurability requirements, or the application of any preexisting condition limitations under any Xxxxxxx AOUT Plan. Each Xxxxxxx AOUT Plan shall, to the extent practicable, waive pre-existing condition limitations with respect to Xxxxxxx ParticipantsAOUT Employees. Xxxxxxx AOUT shall use reasonable efforts to honor any deductible, co-payment payment, and out-of-pocket maximums incurred by the Xxxxxxx Participants AOUT Employees and their eligible dependents under the Dover SWBI Plans in which they participated immediately prior to the Plan Separation Date, if any, Distribution Time during the portion of the calendar year prior to the Distribution Time in satisfying any deductibles, co-payments payments, or out-of-pocket maximums under the Xxxxxxx AOUT Plans in which they are eligible to participate after the Plan Separation Date Distribution Time in the same plan year in which any such deductibles, co-payments payments, or out-of-pocket maximums were incurred. With respect to the AOUT Group Welfare Plan that is a flexible spending account plan, SWBI shall cause the accounts of AOUT Participants who are participating in the flexible spending accounts under the SWBI Group Welfare Plans to be transferred to the flexible spending account plan under the AOUT Group Welfare Plans. SWBI and AOUT will work together in good faith to facilitate any necessary transition.
Appears in 4 contracts
Samples: Employee Matters Agreement (American Outdoor Brands, Inc.), Employee Matters Agreement (Smith & Wesson Brands, Inc.), Employee Matters Agreement (American Outdoor Brands, Inc.)
No Duplication of Benefits; Service and Other Credit. Dover Recro and Xxxxxxx Baudax shall have adoptedadopt, or caused cause to have been be adopted, all reasonable and necessary amendments and procedures to prevent Xxxxxxx Baudax Participants from receiving duplicative benefits from the Dover Recro Plans and the Xxxxxxx Baudax Plans. With respect to Xxxxxxx ParticipantsBaudax Employees, each Xxxxxxx Baudax Plan shall provide that for purposes of determining eligibility to participate, vesting, and entitlement to benefits (but not for accrual of pension benefits under any defined benefit pension plan)benefits, service prior to the Plan Separation Date Distribution Effective Time with Recro or a Recro Group member of the Dover Group shall be treated as service with a member of Baudax or the Xxxxxxx Groupapplicable Baudax Group member. The Parties shall use their reasonable efforts so that such Such service also shall apply for purposes of satisfying any waiting periods, evidence of insurability requirements, or the application of any preexisting condition limitations under any Xxxxxxx Baudax Plan. Each Xxxxxxx Baudax Plan shall, to the extent practicable, waive pre-existing condition limitations with respect to Xxxxxxx ParticipantsBaudax Employees. Xxxxxxx Baudax shall use reasonable efforts to honor any deductible, co-payment and out-of-pocket maximums incurred by the Xxxxxxx Participants Baudax Employees and their eligible dependents under the Dover Recro Plans in which they participated immediately prior to the Plan Separation Date, if any, Benefits Commencement Date during the then-elapsed portion of the calendar year prior to the Benefits Commencement Date in satisfying any deductibles, co-payments or out-of-pocket maximums under the Xxxxxxx Baudax Plans in which they are eligible to participate after the Plan Separation Benefits Commencement Date in the same plan year in which any such deductibles, co-payments or out-of-pocket maximums were incurred.
Appears in 3 contracts
Samples: Employee Matters Agreement (Recro Pharma, Inc.), Employee Matters Agreement (Baudax Bio, Inc.), Employee Matters Agreement (Baudax Bio, Inc.)
No Duplication of Benefits; Service and Other Credit. Dover bluebird and Xxxxxxx 2seventy shall have adoptedadopt, or caused cause to have been be adopted, all reasonable and necessary amendments and procedures to prevent Xxxxxxx 2seventy Participants from receiving duplicative benefits from the Dover bluebird Plans and the Xxxxxxx 2seventy Plans. With respect to Xxxxxxx Participants2seventy Employees, each Xxxxxxx 2seventy Plan shall provide that for purposes of determining eligibility to participate, vesting, and entitlement to benefits (but not for accrual of pension benefits under any defined benefit pension plan)benefits, service prior to the Plan Separation Date Distribution Effective Time with bluebird or a bluebird Group member of the Dover Group shall be treated as service with a member of 2seventy or the Xxxxxxx Groupapplicable 2seventy Group member. The Parties shall use their reasonable efforts so that such Such service also shall apply for purposes of satisfying any waiting periods, evidence of insurability requirements, or the application of any preexisting condition limitations under any Xxxxxxx 2seventy Plan. Each Xxxxxxx 2seventy Plan shall, to the extent practicable, waive pre-existing condition limitations with respect to Xxxxxxx Participants2seventy Employees. Xxxxxxx To the extent permitted under the applicable plan, 2seventy shall use reasonable efforts to honor any deductible, co-payment and out-of-pocket maximums deductibles incurred by the Xxxxxxx Participants 2seventy Employees and their eligible dependents under the Dover Plans any bluebird medical plan in which they participated immediately prior to the Plan Separation Date, if any, in Distribution Effective Time during the then-elapsed portion of the calendar year prior to the Distribution Effective Time for purposes of satisfying any deductibles, co-payments deductibles or out-of-pocket maximums under the Xxxxxxx 2seventy Plans in which they are eligible to participate after the Plan Separation Date Distribution Effective Time in the same plan year in which such deductibles were incurred. For the avoidance of doubt, 2seventy shall not be required to honor any such deductibles, co-payments incurred by 2seventy Employees or their eligible dependents under any bluebird Health and Welfare Plan for purposes of satisfying any out-of-pocket maximums were incurredunder the 2seventy Plans in which they are eligible to participate after the Distribution Effective Time.
Appears in 3 contracts
Samples: Employee Matters Agreement (2seventy Bio, Inc.), Employee Matters Agreement (Bluebird Bio, Inc.), Employee Matters Agreement (2seventy Bio, Inc.)
No Duplication of Benefits; Service and Other Credit. Dover Recro and Xxxxxxx Baudax shall have adoptedadopt, or caused cause to have been be adopted, all reasonable and necessary amendments and procedures to prevent Xxxxxxx Baudax Participants from receiving duplicative benefits from the Dover Recro Plans and the Xxxxxxx Baudax Plans. With respect to Xxxxxxx ParticipantsBaudax Employees, each Xxxxxxx Baudax Plan shall provide that for purposes of determining eligibility to participate, vesting, and entitlement to benefits (but not for accrual of pension benefits under any defined benefit pension plan)benefits, service prior to the Plan Separation Date Transfer Effective Time with Recro or a Recro Group member of the Dover Group shall be treated as service with a member of Baudax or the Xxxxxxx Groupapplicable Baudax Group member. The Parties shall use their reasonable efforts so that such Such service also shall apply for purposes of satisfying any waiting periods, evidence of insurability requirements, or the application of any preexisting condition limitations under any Xxxxxxx Baudax Plan. Each Xxxxxxx Baudax Plan shall, to the extent practicable, waive pre-existing condition limitations with respect to Xxxxxxx ParticipantsBaudax Employees. Xxxxxxx Baudax shall use reasonable efforts to honor any deductible, co-payment and out-of-pocket maximums incurred by the Xxxxxxx Participants Baudax Employees and their eligible dependents under the Dover Recro Plans in which they participated immediately prior to the Plan Separation Date, if any, Benefits Commencement Date during the then-elapsed portion of the calendar year prior to the Benefits Commencement Date in satisfying any deductibles, co-payments or out-of-pocket maximums under the Xxxxxxx Baudax Plans in which they are eligible to participate after the Plan Separation Benefits Commencement Date in the same plan year in which any such deductibles, co-payments or out-of-pocket maximums were incurred.
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