Service Credit

Description

This smart field captures a purchaser’s agreement to credit certain continuing target employees for past service for the purposes of eligibility and vesting in employee benefit plans post-closing. It also captures a purchaser’s agreement to recognize prior amounts paid by such employees for the purposes of determining deductibles, co-payments, out-of-pocket maximums, etc. under any welfare benefit plans in which such employees may be enrolled post-closing. This smart field was trained on arrangement agreements and merger agreements.