Brazil Defined Contribution Plan Clause Samples

Brazil Defined Contribution Plan. Effective as of the Separation Date, Mead Johnson shall establish the Mead Johnson Brazil defined contribution plan. As soon as practicable after the Separation Date, all Foreign Mead Johnson Transferred Employees participating in the BMS PREV (Brazil) Retirement Plan shall be given the opportunity to elect to transfer the balance of their accounts under the Plan to the Mead Johnson Brazil defined contribution plan, as provided in Section 6.5 of the Schedules, subject to applicable law. The amount of the transfer and the terms and conditions of the transfer shall be approved by BMS and Mead Johnson or their respective designees. BMS and Mead Johnson agree to use commercially reasonable efforts to accomplish this transfer as soon as practicable following the Separation Date and to cooperate with each other to make such filings and disclosure and obtain such approvals as may be necessary or advisable.