Pre-Distribution Service Credit. Spinco shall give each Spinco Participant full credit for purposes of eligibility, vesting, determination of level of benefits, and, to the extent applicable, benefit accruals under any Spinco Plan for such Spinco Participant’s service with any member of the MSG Networks Group prior to the Distribution Date to the same extent such service was recognized by the corresponding MSG Networks Plans immediately prior to the Distribution Date; provided, however, that such service shall not be recognized to the extent that such recognition would result in the duplication of benefits.
Appears in 3 contracts
Samples: Employee Matters Agreement (Madison Square Garden Co), Employee Matters Agreement (MSG Spinco, Inc.), Employee Matters Agreement (MSG Spinco, Inc.)
Pre-Distribution Service Credit. Spinco shall give each Spinco Participant full credit for purposes of eligibility, vesting, determination of level of benefits, and, to the extent applicable, benefit accruals under any Spinco Plan for such Spinco Participant’s service with any member of the MSG Networks Group prior to the Distribution Date to the same extent such service was recognized by the corresponding MSG Networks Plans immediately prior to the Distribution Date; providedprovided , howeverhowever , that such service shall not be recognized to the extent that such recognition would result in the duplication of benefits.
Appears in 1 contract
Samples: Employee Matters Agreement (Madison Square Garden Entertainment Corp.)
