Common use of Recognition of Prior Service Clause in Contracts

Recognition of Prior Service. Newco shall take all steps necessary to cause each Caldera Employee Plan to recognize each transferring Employee's length of service under comparable employee benefit plans maintained by SCO for purposes of eligibility, participation, vesting and benefit accrual in such Caldera Employee Plan as if such transferring Employee had been employed by Newco for such period.

Appears in 3 contracts

Samples: Agreement and Plan of Reorganization (Caldera Systems Inc), Agreement and Plan of Reorganization (Santa Cruz Operation Inc), Agreement and Plan of Reorganization (Santa Cruz Operation Inc)

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Recognition of Prior Service. Newco shall take all steps ---------------------------- necessary to cause each Caldera Employee Plan to recognize each transferring Employee's length of service under comparable employee benefit plans maintained by SCO for purposes of eligibility, participation, vesting and benefit accrual in such Caldera Employee Plan as if such transferring Employee had been employed by Newco for such period.

Appears in 2 contracts

Samples: Agreement and Plan of Reorganization (Tarantella Inc), Agreement and Plan of Reorganization (Tarantella Inc)

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