Annual Incentive Plan Payments. (a) Not later than the Effective Time, Mallinckrodt shall, or shall cause another Mallinckrodt Entity to, assume or adopt a plan (the “Mallinckrodt Annual Incentive Plan”) for the fiscal year in which the Distribution occurs that will contain terms that are identical to the terms provided to Mallinckrodt Group Employees under the Covidien Annual Incentive Plan immediately prior to the Effective Time, subject to Mallinckrodt’s right to amend such plan after the Effective Time in accordance with the terms thereof.
Appears in 5 contracts
Samples: Employee Matters Agreement, Employee Matters Agreement (Mallinckrodt PLC), Employee Matters Agreement (Covidien PLC)
