Common use of Time Benefit Plans Clause in Contracts

Time Benefit Plans. Unless prohibited by applicable law, Time shall, and shall cause its Subsidiaries to, credit service accrued by each Post-Separation Time Employee with, or otherwise recognized for benefit plan purposes by, any member of the TWX Group or the Time Group at the time of or prior to the Distribution for purposes of (a) eligibility and vesting under each Time Benefit Plan under which service is relevant in determining eligibility or vesting, (b) determining the amount of severance payments and benefits (if any) payable under each Time Benefit Plan that provides severance payments or benefits and (c) determining the number of vacation days to which each such Employee will be entitled following the Distribution, in the case of clauses (a), (b) and (c), (i) to the same extent recognized by the relevant members of the TWX Group or Time Group or the corresponding TWX Benefit Plan or Time Benefit Plan immediately prior to the Distribution Date and (ii) except to the extent such credit would result in a duplication of benefits for the same period of service.