Common use of Allegion Canada DC Pension Plan Clause in Contracts

Allegion Canada DC Pension Plan. Allegion shall cause an Allegion Entity to, effective as of the Effective Time, establish a registered pension plan to provide in respect of each Canadian Pension Plan Member who was accruing benefits under the Canadian DC Pension Plan pension benefits in respect of service on and after the Effective Time (the “Allegion Canada DC Pension Plan”). Effective as of the Effective Time, each such Canadian Pension Plan Member shall cease to actively participate in and accrue benefits under the Canadian DC Pension Plan and shall participate in and accrue benefits under the Allegion Canada DC Pension Plan. The Allegion Canada DC Pension Plan shall provide benefits which are substantially identical to the benefits provided under the Canadian DC Pension Plan immediately prior to the Effective Time.

Allegion Canada DC Pension Plan. Allegion shall cause an Allegion Entity to, effective as of the Effective Time, establish a registered pension plan to provide in respect of each Canadian Pension Plan Member who was accruing benefits under the Canadian DC Pension Plan pension benefits in respect of service on and after the Effective Time (the “Allegion Canada DC Pension Plan”). Effective as of the Effective Time, each such Canadian Pension Plan Member shall cease to actively participate in and accrue benefits under the Canadian DC Pension Plan and shall participate in and accrue benefits under the Allegion Canada DC Pension Plan. The Allegion Canada DC Pension Plan shall provide benefits which are substantially identical to the benefits provided under the Canadian DC Pension Plan immediately prior to the Effective Time. Section 14.6.