Assumption of SpinCo Stand-Alone Plans. Unless otherwise provided in this Agreement, effective no later than the Distribution Date, SpinCo or a member of the SpinCo Group shall assume or cause to be assumed, the SpinCo Stand-Alone Plans set forth on Appendix A to this Agreement for the benefit of Transferred Individuals and other current, future and former employees of the SpinCo Group. SpinCo and Parent shall take all action necessary to provide for such assumption of the SpinCo Stand-Alone Plans, including any necessary amendments, and the name of the Plans shall be changed as and where appropriate.
Appears in 3 contracts
Samples: Employee Benefits Agreement (FNB Corp/Fl/), Employee Benefits Agreement (First National Bankshares of Florida Inc), Employee Benefits Agreement (First National Bankshares of Florida Inc)
Assumption of SpinCo Stand-Alone Plans. Unless otherwise provided in this Agreement, effective no later than the Close of the Distribution Date, SpinCo or a member of the SpinCo Group shall assume or cause to be assumed, the SpinCo Stand-Alone Plans set forth on Appendix A to this Agreement for the benefit of Transferred Individuals and other current, future and former employees of the SpinCo Group. SpinCo and Parent Acuity shall take all action necessary to provide for such assumption of the SpinCo Stand-Alone Plans, including any necessary amendments, and the name of the Plans shall be changed as and where appropriate.
Appears in 1 contract
