Amendment of TRP. The sponsor of the TRP shall amend the TRP to (a) ---------------- "freeze" the benefit accruals of the Active Employees of the Automotive Group as of the Impact Date, and (b) provide that all benefits accrued as of the Impact Date by the Active Employees of the Automotive Group shall be fully vested and non-forfeitable (as will the benefits to Former Employees of the Automotive Group to the extent required by applicable laws) and the sponsor shall inform, in writing, as soon as practicable following the Impact Date, each such Employee of his or her accrued benefits under the TRP as of the Impact Date.
Appears in 4 contracts
Samples: Human Resources Agreement (Tenneco Packaging Inc), Human Resources Agreement (Tenneco Packaging Inc), Distribution Agreement (Tenneco Packaging Inc)
Amendment of TRP. The sponsor of the TRP shall amend the TRP to (a) ---------------- "freeze" the benefit accruals of the Active Employees of the Automotive Group as of the Impact Date, and (b) provide that all benefits accrued as of the Impact Date by the Active Employees of the Automotive Group shall be fully vested and non-forfeitable (as will the benefits to Former Employees of the Automotive Group to the extent required by applicable laws) and the sponsor shall inform, in writing, as soon as practicable following the Impact Date, each such Employee of his or her accrued benefits under the TRP as of the Impact Date.
Appears in 4 contracts
Samples: Distribution Agreement (Tenneco Packaging Inc), Distribution Agreement (Pactiv Corp), Human Resources Agreement (Tenneco Automotive Inc)
