Purchaser's Benefit Plans. For purposes of Purchaser's employee ------------------------- benefit plans, each Hired Employee shall receive credit for prior years of service with Seller for purposes of eligibility and vesting under such plans and shall be entitled to participate in any such Purchaser's employee benefit plans without the application of any applicable waiting periods. Purchaser shall also permit the Hired Employees and their eligible dependents to participate in its applicable group medical plans immediately. Purchaser shall not be required to waive any waiting periods or any restrictions and limitations on preexisting medical conditions under its medical plans, except as required by law. Purchaser shall recognize all medical expenses incurred by Hired Employees and their eligible dependents during the remainder of the calendar year in which the Closing occurs for purposes of satisfying the existing calendar year deductibles and such calendar year's co-payment limitations, if any.
Purchaser's Benefit Plans. (a) The Purchasers or their Affiliates shall establish a defined benefit pension plan to provide retirement benefits to Transferred Employees whose terms and conditions of employment are determined by the collective bargaining agreements covering Transferred Employees in the United States (the “Transferred Union Employees”) and listed in Section 9.09(a) of the Disclosure Schedule (the “Purchasers’ DB Plan”). The Purchasers’ DB Plan will recognize years of service with the Sellers for purposes of eligibility, vesting and benefit accrual. Transferred Union Employees’ benefits determined using this benefit accrual service under Purchasers’ DB Plan will be reduced by the amount of the accrued benefit payable to Transferred Union Employees under the ArvinMeritor, Inc. Retirement Plan (the “Sellers DB Plan”). Except as provided herein, as of the Effective Time, the Transferred Union Employees will cease benefit accrual under the Sellers DB Plan. The accrued benefit payable to Transferred Union Employees under the Sellers DB Plan will be determined using the dollar benefit multiplier which was in effect at the earlier of the Transferred Employees termination of employment with the Purchaser or the expiration of the last collective bargaining agreement negotiated by the Seller.
Purchaser's Benefit Plans. For purposes of Purchaser’s Employee Benefit Plans, each Hired Employee shall receive credit for prior years of service with Seller for purposes of eligibility and vesting under such plans (but shall not receive credit for benefit accrual purposes) and shall be entitled to participate in the Employee Benefit Plans of Purchaser without the application of any applicable waiting periods to the extent required by Law or permitted under the terms of the Purchaser’s Employee Benefit Plans.
Purchaser's Benefit Plans. For purposes of Purchaser's Employee Benefit Plans, each Hired Employee shall receive credit for prior years of service with Seller for purposes of eligibility and vesting under such plans and shall be entitled to participate in the Employee Benefit Plans of Purchaser without the application of any applicable waiting periods to the extent required by Law or permitted under the terms of Purchaser's Employee Benefit Plan. Purchaser shall not be required to waive any waiting periods or any restrictions and limitations on preexisting medical conditions under its medical plans, except as required by Law.
Purchaser's Benefit Plans. (i) The Purchasers or one of their Affiliates will recognize all service of the Transferred Employees with the Sellers (or their predecessors) or any of their Affiliates, only for purposes of eligibility to participate in and to vest under those employee benefit plans, within the meaning of Section 3(3) of ERISA, in which the Transferred Employees are enrolled by the Purchasers or one of their Affiliates immediately after the Closing Date. The Purchasers shall cause all pre-existing condition exclusions under any medical and dental plans made available by the Purchasers to Transferred Employees to be waived in respect of such Employees. Expenses incurred by Transferred Employees under Seller's medical and dental plans during the year that includes the Closing Date shall be taken into account for purposes of satisfying deductible and coinsurance requirements and satisfaction of out-of-pocket provisions of the Purchasers medical and dental plans in which Transferred Employees participate for such year.
Purchaser's Benefit Plans. Effective as of the Closing and through December 31, 2005, subject to Sellers’ compliance with Sections 3.8(c), (d) and (h) and, with respect thereto, Sections 3.8(s) and 8.1 during the Closing Period, Purchasers shall maintain for the benefit of the Transferred Employees that are employed by Purchasers during such period a package of employee benefits that is reasonably comparable in the aggregate to the employee benefit programs that Sellers maintained for the benefit of those employees immediately prior to the Closing. Effective as of such time as a Transferred Employee first participates in a retirement or pension plan maintained by a Purchaser that is intended to qualify under Section 401(a) of the Code, Purchasers shall amend the terms of each of such retirement or pension plans to specify that a Transferred Employee will be granted credit for his service with Sellers and their ERISA Affiliates for all purposes (including benefit accrual, vesting and eligibility purposes) under such plans.
Purchaser's Benefit Plans. Effective as of the Closing and through December 31, 2006, Purchaser shall maintain for the benefit of the Transferred Employees that are employed by Purchaser during such period a package of employee benefits that is reasonably comparable in the aggregate to the employee benefit programs that are listed on the Seller Disclosure Schedule and that Seller maintained for the benefit of those employees immediately prior to the Closing, provided that Purchaser shall have no obligation to maintain a 3% employer annual contribution to any 401(k) plan maintained for the benefit of the Transferred Employees following termination of Seller’s 401(k) plan.
Purchaser's Benefit Plans. With respect to each Transferred Employee:
Purchaser's Benefit Plans. If Purchaser establishes -------------------------- employee benefit plans, then each Hired Employee shall receive credit for prior years of service with Seller for all purposes of such plans (except for purposes of benefits accrued under a defined benefit plan) and shall be entitled to participate in any such Purchaser's employee benefit plans without the application of any applicable waiting periods. Purchaser shall also permit the Hired Employees and their eligible dependents to participate in its applicable group medical plans. Purchaser shall recognize all medical expenses incurred by Hired Employees and eligible dependents during the calendar year of the Closing and prior to the Closing Date for purposes of satisfying the existing calendar year deductibles and such calendar year's co-payment limitations, if any.
Purchaser's Benefit Plans. Effective as of the Closing Date, ------------------------- Purchaser will make available to or establish for the Transferred Employees the benefit plans listed on Schedule 6.2.1 ("Purchaser's Plans"). The -------------- ----------------- Purchaser's Plan which is a "defined contribution plan" under ERISA Section 3(34) shall permit, or shall be amended to permit, direct rollovers pursuant to Code Section 401(a)(31) of participants' accounts under the Prestolite Retirement Savings Plan.
