Prior Service; Deductibles. The Buyers shall, or shall cause their respective Affiliates to, recognize each Transferred Employee’s service with the Sellers, the Sold Companies, or any of their respective Affiliates or their respective predecessors as of the Closing Date as service with the Buyers, the Sold Companies or any of their respective Affiliates, as applicable, for all purposes (including, without limitation, eligibility, vesting, eligibility waiting periods, benefit accruals) to the extent that such service was credited for such purpose under a comparable plan of the Sellers, the Sold Companies or any of their respective Affiliates in the Buyers’, the Sold Companies’ or any of their respective Affiliates’ employee benefit plans, agreements, policies or other arrangements (unless such credit would result in a duplication of benefits for the same period). In addition, to the extent pre-existing condition limitations have been met or are otherwise inapplicable with respect to Transferred Employees under Sellers’ employee welfare benefits plans as of the Closing Date, the Buyers shall, or shall cause their respective Affiliates to, waive any such pre-existing condition limitations under Buyers’ employee welfare benefit plans applicable to Transferred Employees or their respective spouses or dependents and shall recognize (or cause to be recognized) the dollar amount of all expenses incurred by Transferred Employees and their respective spouses or dependents during the calendar year in which the Closing occurs for purposes of satisfying the deductibles and co-payment or out-of-pocket limitations for such calendar year under the relevant employee welfare benefit plans of the Buyers, the Sold Companies and their respective Affiliates, as applicable, to the extent taken into account for such purpose under a comparable plan of the Sellers, the Sold Companies or any of their Affiliates. Sellers shall be solely responsible for the administration of, and all costs and Liabilities arising in connection with, medical (including dental, vision, mental health and prescription drug) benefits claims by Transferred Employees (other than Business Employees of the Sold Companies) and their spouses, dependents or other beneficiaries incurred on or prior to the Closing Date, without regard to whether such claims are submitted prior to, on or after the Closing Date.
Prior Service; Deductibles. The Buyers shall recognize each Dresser-Rand Group Employee's service with the Sellers or the Dresser-Rand Group as of the Closing Date as service with Buyers for all purposes, as applicable, in the Buyers' employee welfare benefit plans, employee pension plans, vacation, disability, severance and other employee benefit plans or policies, but only to the extent that such service was recognized by the Sellers or the Dresser-Rand Group under the Dresser-Rand Group Plans, except where such crediting would result in an unintended duplication of benefits. In addition, the Buyers shall, or shall cause the Dresser-Rand Group to, waive any pre-existing condition limitations and eligibility waiting periods under the employee benefit plans applicable to Dresser-Rand Group Employees or their respective dependents to the extent such pre-existing limitations and eligibility waiting periods were satisfied or did not exist or apply under the comparable Dresser-Rand Group Plans prior to the Closing. Buyers shall, or shall cause the Dresser-Rand Group to recognize (or cause to be recognized) the dollar amount of all expenses incurred by Dresser-Rand Group Employees and their respective dependents during the calendar year in which the Closing Date occurs for purposes of satisfying the deductibles and co-payment or out- of-pocket limitations for such calendar year under the relevant employee welfare benefit plans of the Buyers to the extent such expenses were recognized by the comparable Dresser-Rand Group Plan prior to the Closing.
Prior Service; Deductibles. Buyer shall recognize each Business Employee's service with Seller or any Subsidiary as of the Closing Date as service with Buyer for all purposes, including eligibility, vesting and benefit levels, as applicable in Buyer's employee welfare benefit plans, employee pension plans, vacation, disability, severance and other employee benefit plans or policies, but only to the extent that such service was recognized by Seller or any Subsidiary under the applicable Business Group Plans. In addition, Buyer shall, or shall cause the Transferred Subsidiaries to, waive any pre-existing condition limitations and eligibility waiting periods under the employee welfare benefit plans applicable to Business Employees or their respective dependents, but only to the extent that such service was recognized under such plans for such purposes. Buyer shall recognize (or cause to be recognized) the dollar amount of all expenses incurred by Business Employees and their respective dependents during the calendar year in which the Closing Date occurs for purposes of satisfying the deductibles and co-payment or out-of-pocket limitations for such calendar year under the relevant employee welfare benefit plans of Buyer.
Prior Service; Deductibles. The Company or the Subsidiaries shall recognize each Business Employee's service with the Company, the Subsidiaries or any Seller Affiliate or their respective predecessors as of the Closing as service with the Company, the Subsidiaries or from and after Closing any of their respective Affiliates, as applicable, for all purposes, in the employee welfare benefit plans, employee pension plans, vacation, disability, severance and other employee benefit plans, arrangements or policies of the Company or the Subsidiaries. In addition, the Company and the Subsidiaries shall not alter, amend or replace any employee welfare benefit plan, unless the same provides that it shall waive any pre-existing condition limitations and eligibility waiting periods under the employee welfare benefit plans applicable to Business Employees or their respective spouses or dependents and shall recognize (or cause to be recognized) the monetary amount of all expenses incurred by Business Employees and their respective spouses or dependents during the calendar year in which the Closing occurs for purposes of satisfying the deductibles and co-payment or out-of-pocket limitations for such calendar year under any altered, amended or replacement employee welfare benefit plans, as applicable. The Company shall treat the original date of hire with the Company, the Subsidiaries or any Seller Affiliate as the date of hire with the Company or the Subsidiaries for all employee benefit purposes.
