Common use of Service for Eligibility, Vesting, and Benefit Purposes Clause in Contracts

Service for Eligibility, Vesting, and Benefit Purposes. The Spinco Benefit Plans shall, and Spinco shall cause each member of the Spinco Group to, recognize each Spinco Group Employee’s and each Former Spinco Group Employee’s full service with Parent or any of its Subsidiaries or predecessor entities at or before the Operational Separation Date, to the same extent that such service was credited by Parent or its Subsidiary for similar purposes prior to the Operational Separation Date as if such full service had been performed for a member of the Spinco Group, for purposes of eligibility, vesting and determination of level of benefits under any such Spinco Benefit Plan. The Parent Benefit Plans shall, and Parent shall cause each member of the Parent Group to, recognize each Parent Group Employee’s and each Former Parent Group Employee’s full service with Spinco or any of its Subsidiaries or predecessor entities at or before the Operational Separation Date, to the same extent that such service was credited by Spinco or its Subsidiary for similar purposes prior to the Operational Separation Date as if such full service had been performed for a member of the Parent Group, for purposes of eligibility, vesting and determination of level of benefits under any such Parent Benefit Plan.

Appears in 4 contracts

Samples: Employee Matters Agreement (Howmet Aerospace Inc.), Employee Matters Agreement (Arconic Corp), Employee Matters Agreement (Arconic Rolled Products Corp)

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Service for Eligibility, Vesting, and Benefit Purposes. The Spinco UpstreamCo Benefit Plans shall, and Spinco UpstreamCo shall cause each member of the Spinco UpstreamCo Group to, recognize each Spinco UpstreamCo Group Employee’s and each Former Spinco UpstreamCo Group Employee’s full service with Parent or any of its Subsidiaries or predecessor entities at or before the Operational Separation Date, to the same extent that such service was credited by Parent or its Subsidiary for similar purposes prior to the Operational Separation Date as if such full service had been performed for a member of the Spinco UpstreamCo Group, for purposes of eligibility, vesting and determination of level of benefits under any such Spinco UpstreamCo Benefit Plan. The Parent Benefit Plans shall, and Parent shall cause each member of the Parent Group to, recognize each Parent Group Employee’s and each Former Parent Group Employee’s full service with Spinco UpstreamCo or any of its Subsidiaries or predecessor entities at or before the Operational Separation Date, to the same extent that such service was credited by Spinco UpstreamCo or its Subsidiary for similar purposes prior to the Operational Separation Date as if such full service had been performed for a member of the Parent Group, for purposes of eligibility, vesting and determination of level of benefits under any such Parent Benefit Plan.

Appears in 4 contracts

Samples: Employee Matters Agreement, Employee Matters Agreement (Arconic Inc.), Employee Matters Agreement (Alcoa Corp)

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Service for Eligibility, Vesting, and Benefit Purposes. The Spinco CoalCo Benefit Plans shall, and Spinco CoalCo shall cause each member of the Spinco CoalCo Group to, recognize each Spinco CoalCo Group Employee’s and each Former Spinco CoalCo Group Employee’s full service with Parent or any of its Subsidiaries or predecessor entities at or before the Operational Separation Distribution Date, to the same extent that such service was credited by Parent or its Subsidiary for similar purposes prior to the Operational Separation Distribution Date as if such full service had been performed for a member of the Spinco CoalCo Group, for purposes of eligibility, vesting and determination of level of benefits under any such Spinco CoalCo Benefit Plan. The Parent Benefit Plans shall, and Parent GasCo shall cause each member of the Parent Group to, recognize each Parent GasCo Group Employee’s and each Former Parent Group Employee’s full service with Spinco CoalCo or any of its Subsidiaries or predecessor entities at or before the Operational Separation Distribution Date, to the same extent that such service was credited by Spinco CoalCo or its Subsidiary for similar purposes prior to the Operational Separation Distribution Date as if such full service had been performed for a member of the Parent Group, for purposes of eligibility, vesting and determination of level of benefits under any such Parent Benefit Plan.

Appears in 2 contracts

Samples: Employee Matters Agreement (CONSOL Energy Inc.), Employee Matters Agreement (CONSOL Mining Corp)

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