No Duplication of Benefits; Service and Other Credit. Ensign and CareTrust shall adopt, or cause to be adopted, all reasonable and necessary amendments and procedures to prevent CareTrust Participants from receiving duplicative benefits from the Ensign Plans and the CareTrust Plans. With respect to CareTrust Employees, each CareTrust 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 Effective Time with an Ensign Group member shall be treated as service with the applicable CareTrust Group member. 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 CareTrust Plan. Each CareTrust Plan shall, to the extent practicable, waive pre-existing condition limitations with respect to CareTrust Employees. CareTrust shall honor any deductible, co-payment and out-of-pocket maximums incurred by the CareTrust Employees and their eligible dependents under the Ensign Plans in which they participated immediately prior to the Effective Time during the portion of the calendar year prior to the Effective Time in satisfying any deductibles, co-payments or out-of-pocket maximums under the CareTrust Plans in which they are eligible to participate after the Effective Time in the same plan year in which such deductibles, co-payments or out-of-pocket maximums were incurred.
Appears in 3 contracts
Samples: Employee Matters Agreement (CareTrust REIT, Inc.), Employee Matters Agreement (Ensign Group, Inc), Employee Matters Agreement (CareTrust REIT, Inc.)
No Duplication of Benefits; Service and Other Credit. Ensign Alkermes and CareTrust Mural shall adopt, or cause to be adopted, all reasonable and necessary amendments and procedures to prevent CareTrust Mural Participants from receiving duplicative benefits from the Ensign Alkermes Plans and the CareTrust Mural Plans. With respect to CareTrust Mural Employees, each CareTrust Mural Plan shall provide that for purposes of determining eligibility to participate, vesting, vesting and entitlement to benefits (but not for accrual of pension benefits under any defined benefit pension plan)benefits, service prior to the Distribution Effective Time with Alkermes or an Ensign Alkermes Group member shall be treated as service with Mural or the applicable CareTrust Mural Group member. 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 CareTrust Mural Plan. Each CareTrust Mural Plan shall, to the extent practicable, waive pre-existing condition limitations with respect to CareTrust Mural Employees. CareTrust To the extent permitted under the applicable plan, Mural shall procure that the applicable Mural Group member shall honor any deductible, co-payment and out-of-pocket maximums deductibles incurred by the CareTrust Mural Employees and their eligible dependents under the Ensign Plans any Alkermes medical plan in which they participated immediately prior to the Distribution Effective Time during the then-elapsed portion of the calendar year prior to the Distribution Effective Time in for purposes of satisfying any deductibles, co-payments deductibles or out-of-pocket maximums under the CareTrust Mural Plans in which they are eligible to participate after the Distribution Effective Time in the same plan year in which such deductiblesdeductibles were incurred. For the avoidance of doubt, the Mural Group shall not be required to honor any co-payments incurred by Mural Employees or their eligible dependents under any Alkermes Health and Welfare Plan for purposes of satisfying any out-of-pocket maximums were incurredunder the Mural Plans in which they are eligible to participate after the Distribution Effective Time.
Appears in 3 contracts
Samples: Employee Matters Agreement (Alkermes Plc.), Employee Matters Agreement (Mural Oncology PLC), Employee Matters Agreement (Mural Oncology PLC)
No Duplication of Benefits; Service and Other Credit. Ensign Ironwood and CareTrust Cyclerion shall adopt, or cause to be adopted, all reasonable and necessary amendments and procedures to prevent CareTrust Cyclerion Participants from receiving duplicative benefits from the Ensign Ironwood Plans and the CareTrust Cyclerion Plans. With respect to CareTrust Cyclerion Employees, each CareTrust Cyclerion 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 Distribution Effective Time with Ironwood or an Ensign Ironwood Group member shall be treated as service with Cyclerion or the applicable CareTrust Cyclerion Group member. 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 CareTrust Cyclerion Plan. Each CareTrust Cyclerion Plan shall, to the extent practicable, waive pre-existing condition limitations with respect to CareTrust Cyclerion Employees. CareTrust Cyclerion shall honor any deductible, co-payment and out-of-pocket maximums deductibles incurred by the CareTrust Cyclerion Employees and their eligible dependents under any Ironwood medical plan (but not, for the Ensign Plans avoidance of doubt, under any Ironwood dental plan) in which they participated immediately prior to the Distribution Effective Time during the then-elapsed portion of the calendar year prior to the Distribution Effective Time in for purposes of satisfying any deductibles, co-payments deductibles or out-of-pocket maximums under the CareTrust Cyclerion Plans in which they are eligible to participate after the Distribution Effective Time in the same plan year in which such deductiblesdeductibles were incurred. For the avoidance of doubt, Cyclerion shall not be required to honor any co-payments incurred by Cyclerion Employees or their eligible dependents under any Ironwood Health and Welfare Plan for purposes of satisfying any out-of-pocket maximums were incurredunder the Cyclerion Plans in which they are eligible to participate after the Distribution Effective Time.
Appears in 3 contracts
Samples: Employee Matters Agreement (Ironwood Pharmaceuticals Inc), Employee Matters Agreement (Cyclerion Therapeutics, Inc.), Employee Matters Agreement (Cyclerion Therapeutics, Inc.)