Common use of Transferred Employees Clause in Contracts

Transferred Employees. Employees who transfer from MSG Networks to Spinco between the Distribution Date and the Service Crediting Date will not be eligible for an immediate distribution of their account balance from the MSG Holdings, L.P. Excess Cash Balance Plan, MSG Holdings, L.P. Excess Retirement Plan or the MSG Holdings, L.P. Excess 401(k) Savings Plan; instead, subject to compliance with any applicable requirements of Section 409A of the Code, any such account balance shall be transferred to the Spinco Excess Cash Balance Plan, Spinco Excess Retirement Plan or the Spinco Excess 401(k) Savings Plan on the date of transfer, and MSG Networks shall pay Spinco an amount equal to the vested account balance as of the transfer date within 30 days of such transfer date. Employees who transfer from Spinco to MSG Networks between the Distribution Date and the Service Crediting Date will not be eligible for an immediate distribution of their account balance from the Spinco Excess Cash Balance Plan, Spinco Excess Retirement Plan or the Spinco Excess 401(k) Savings Plan; instead, subject to compliance with any applicable requirements of Section 409A of the Code, any such account balance shall be transferred to the MSG Holdings, L.P. Excess Cash Balance Plan, MSG Holdings, L.P. Excess Retirement Plan or the MSG Holdings, L.P. Excess 401(k) Savings Plan on the date of transfer, and Spinco shall pay MSG Networks an amount equal to the vested account balance as of the transfer date within 30 days of such transfer date.

Transferred Employees. Employees who transfer from MSG Networks Spinco to Spinco MSGS between the Distribution Date and the Service Crediting Date June 30, 2021 will not be eligible for an immediate distribution of their account balance from the MSG Holdings, L.P. Spinco Excess Cash Balance Plan, MSG Holdings, L.P. Spinco Excess Retirement Plan or the MSG Holdings, L.P. Spinco Excess 401(k) Savings Plan; instead, subject to compliance with any applicable requirements of Section 409A of the Code, any such account balance shall be transferred to the Spinco MSGS Excess Cash Balance Plan, Spinco MSGS Excess Retirement Plan or the Spinco MSGS Excess 401(k) Savings Plan on the date of transfer, and MSG Networks Spinco shall pay Spinco MSGS an amount equal to the vested account balance as of the transfer date within 30 days of such transfer date. Employees who transfer from MSGS to Spinco to MSG Networks between the Distribution Date and the Service Crediting Date June 30, 2021 will not be eligible for an immediate distribution of their account balance from the Spinco MSGS Excess Cash Balance Plan, Spinco MSGS Excess Retirement Plan or the Spinco MSGS Excess 401(k) Savings Plan; instead, subject to compliance with any applicable requirements of Section 409A of the Code, any such account balance shall be transferred to the MSG Holdings, L.P. MSGS Excess Cash Balance Plan, MSG Holdings, L.P. Spinco Excess Retirement Plan or the MSG Holdings, L.P. Spinco Excess 401(k) Savings Plan on the date of transfer, and Spinco MSGS shall pay MSG Networks Spinco an amount equal to the vested account balance as of the transfer date within 30 days of such transfer date.

Transferred Employees. Employees who transfer from MSG Networks to Spinco between the Distribution Date and the Service Crediting Date will not be eligible for an immediate distribution of their account balance from the MSG Holdings, L.P. Excess Cash Balance Plan, MSG Holdings, L.P. Excess Retirement Plan or the MSG Holdings, L.P. Excess 401(k) Savings Plan; instead, subject to compliance with any applicable requirements of Section 409A of the Code, any such account balance shall be transferred to the Spinco Excess Cash Balance Plan, Spinco Excess Retirement Plan or the Spinco Excess 401(k) Savings Plan on the date of transfer, and MSG Networks shall pay Spinco an amount equal to the vested account balance as of the transfer date within 30 days of such transfer date. Employees who transfer from Spinco to MSG Networks between Entertainment after the Distribution Date and the Service Crediting Date will not be eligible for an immediate distribution of their account balance from the Spinco Excess Cash Balance Plan, Spinco Excess Retirement Plan, Spinco Excess Savings Plan or the Spinco Excess 401(k) Savings Deferred Compensation Plan; instead, subject to compliance with any applicable requirements of Section 409A of the Code, any such account balance shall be transferred to the MSG Holdings, L.P. Entertainment Excess Cash Balance Plan, MSG Holdings, L.P. Entertainment Excess Retirement Savings Plan or the MSG Holdings, L.P. Excess 401(k) Savings Entertainment Deferred Compensation Plan on the date of transfer, and Spinco shall pay MSG Networks Entertainment an amount equal to the vested account balance as of the transfer date within 30 days of such transfer date. Employees who transfer from MSG Entertainment to Spinco after the Distribution Date will not be eligible for an immediate distribution of their account balance from the MSG Entertainment Excess Cash Balance Plan, MSG Entertainment Excess Savings Plan or MSG Entertainment Deferred Compensation Plan; instead, subject to compliance with any applicable requirements of Section 409A of the Code, any such account balance shall be transferred to the MSG Entertainment Excess Cash Balance Plan, Spinco Excess Retirement Plan, Spinco Excess Savings Plan or Spinco Deferred Compensation Plan on the date of transfer, and MSG Entertainment shall pay Spinco an amount equal to the vested account balance as of the transfer date within 30 days of such transfer date.

Transferred Employees. Employees who transfer from MSG Networks to Spinco between the Distribution Date and the Service Crediting Date will not be eligible for an immediate distribution of their account balance from the MSG Holdings, L.P. Excess Cash Balance Plan, MSG Holdings, L.P. Excess Retirement Plan or the MSG Holdings, L.P. Excess 401(k) Savings Plan; instead, subject to compliance with any applicable requirements of Section 409A of the Code, any such account balance shall be transferred to the Spinco Excess Cash Balance Plan, Spinco Excess Retirement Plan or the Spinco Excess 401(k) Savings Plan on the date of transfer, and MSG Networks shall pay Spinco an amount equal to the vested account balance as of the transfer date within 30 days of such transfer date. Employees who transfer from Spinco to MSG Networks between Entertainment after the Distribution Date and the Service Crediting Date will not be eligible for an immediate distribution of their account balance from the Spinco Excess Cash Balance Plan, Spinco Excess Retirement Plan, Spinco Excess Savings Plan or the Spinco Excess 401(k) Savings Deferred Compensation Plan; instead, subject to compliance with any applicable requirements of Section 409A of the Code, any such account balance shall be transferred to the MSG Holdings, L.P. Entertainment Excess Cash Balance Plan, MSG Holdings, L.P. Entertainment Excess Retirement Plan, MSG Entertainment Excess Savings Plan or the MSG Holdings, L.P. Excess 401(k) Savings Entertainment Deferred Compensation Plan on the date of transfer, and Spinco shall pay MSG Networks Entertainment an amount equal to the vested account balance as of the transfer date within 30 days of such transfer date. Employees who transfer from MSG Entertainment to Spinco after the Distribution Date will not be eligible for an immediate distribution of their account balance from the MSG Entertainment Excess Cash Balance Plan, MSG Entertainment Excess Retirement Plan, MSG Entertainment Excess Savings Plan or MSG Entertainment Deferred Compensation Plan; instead, subject to compliance with any applicable requirements of Section 409A of the Code, any such account balance shall be transferred to the MSG Entertainment Excess Cash Balance Plan, Spinco Excess Retirement Plan, Spinco Excess Savings Plan or Spinco Deferred Compensation Plan on the date of transfer, and MSG Entertainment shall pay Spinco an amount equal to the vested account balance as of the transfer date within 30 days of such transfer date.