Common use of Time-Off Benefits Clause in Contracts

Time-Off Benefits. Unless otherwise required in a Collective Bargaining Agreement, (i) ITC shall credit (or continue to credit) each TransCo Employees as of the Closing Date with the amount of accrued but unused vacation time, paid time off and other time-off benefits as such TransCo Employee had with the Entergy Group or the TransCo Group as of immediately before the Closing Date, (ii) ITC shall cause each TransCo Employee to be eligible to use on or before March 31 of the year following the Closing Date any accrued but unused vacation time, paid time off and other time-off benefits as such TransCo Employee had with the Entergy Group or the TransCo Group as of immediately before the Closing Date to the extent in excess of the amount that would have been available to the TransCo Employee had the TransCo Employee’s service with Entergy or any member of the Entergy Group been treated as service with ITC, (iii) ITC may cause each TransCo Employee to forfeit any excess amount not used in accordance with the foregoing clause (ii), and (iv) as of the Closing Date, each TransCo Employee shall be subject to ITC’ vacation policies (pro-rated as of the Closing Date for the year in which the Closing occurs); provided, however, that ITC shall provide Transco Employees with credit for employment service with Entergy or any member of the Entergy Group for purposes of determining each TransCo Employee’s eligibility for and future accruals of vacation days under ITC’ vacation policy.

Time-Off Benefits. Unless otherwise required in a Collective Bargaining AgreementAgreement or by applicable Laws, (i) ITC Newco shall credit (or continue to credit) each TransCo Employees Newco Employee as of the Closing Date Separation Time with the amount of accrued but unused vacation time, paid time off and other time-off benefits as such TransCo Newco Employee had with the Entergy Group or the TransCo Xxxxxxx Group as of immediately before the Closing DateSeparation Time, (ii) ITC NetScout shall cause each TransCo Newco Employee to be eligible to use on or before March December 31 of the year following the Closing Date Effective Time any accrued but unused vacation time, paid time off and other time-off benefits as such TransCo Newco Employee had with the Entergy Group or the TransCo Group Xxxxxxx as of immediately before the Closing Date Effective Time to the extent in excess of the amount that would have been available to the TransCo Newco Employee had the TransCo Newco Employee’s service with Entergy or any member of the Entergy Group Newco been treated as service with ITCNetScout, (iii) ITC NetScout may cause each TransCo Newco Employee to forfeit any excess amount not used in accordance with the foregoing clause (ii), and (iv) as of the Closing DateEffective Time, each TransCo Newco Employee shall be subject to ITC’ NetScout’s vacation policies policy (pro-rated as of the Closing Date Effective Time) for the year in which the Closing occurs); provided, however, that ITC NetScout shall provide Transco Newco Employees with credit for employment service with Entergy or any member of the Entergy Group Xxxxxxx for purposes of determining each TransCo Newco Employee’s eligibility for and future accruals of vacation days under ITC’ the NetScout vacation policy. Time-off benefits for Newco Employees will be fully equivalent to those provided by NetScout to similarly situated employees of NetScout in the applicable jurisdiction as of the date hereof (which for U.S. Newco Employees shall be determined by reference to the benefits as described in the NetScout 2014 Summary of Benefits as may be amended for all NetScout U.S. employees).