Common use of Establishing Computer Sciences GS Deferred Compensation Plan Clause in Contracts

Establishing Computer Sciences GS Deferred Compensation Plan. On or prior to the Effective Time, Computer Sciences GS shall, or shall cause another Computer Sciences GS Entity to, establish and adopt a deferred compensation plan for its key employees and directors (the “Computer Sciences GS Deferred Compensation Plan”) to provide each Computer Sciences GS Group Employee or Computer Sciences GS Director who was a participant in the CSC Deferred Compensation Plan as of immediately prior to the Effective Time (each, a “Computer Sciences GS Deferred Compensation Plan Beneficiary”) benefits in respect of service and compensation following the establishment of such plan substantially similar to those accrued with respect to such person under the CSC Deferred Compensation Plan as of immediately prior to the establishment of such plan. As of the earlier of the Effective Time or the date on which such plan is established, the Computer Sciences GS Group Employees and Computer Sciences GS Directors shall no longer participate in the CSC Deferred Compensation Plan. The Parties agree that for purposes of the CSC Deferred Compensation Plan the employment of a Computer Sciences GS Deferred Compensation Plan Beneficiary shall not be considered to have terminated as a result of the Distribution or the transfer of employment from CSC (or a CSC Entity) to Computer Sciences GS (or a Computer Sciences GS Entity), and such employment shall only be considered to terminate for purposes of the Computer Sciences GS Deferred Compensation Plan when the employment of such Computer Sciences GS Deferred Compensation Plan Beneficiary with the Computer Sciences GS Group terminates in accordance with the terms of the Computer Sciences GS Deferred Compensation Plan and applicable Laws.

Appears in 2 contracts

Samples: Employee Matters Agreement (Computer Sciences Government Services Inc.), Employee Matters Agreement (Computer Sciences Government Services Inc.)

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Establishing Computer Sciences GS Deferred Compensation Plan. On or prior to the Effective Time, Computer Sciences GS shall, or shall cause another Computer Sciences GS Entity to, establish and adopt a deferred compensation plan for its key employees and directors (the “Computer Sciences GS Deferred Compensation Plan”) to provide each Computer Sciences GS Group Employee or Computer Sciences GS Director who was a participant in the CSC Deferred Compensation Plan as of immediately prior to the Effective Time (each, a “Computer Sciences GS Deferred Compensation Plan Beneficiary”) benefits in respect of service and compensation following the establishment of such plan Effective Time substantially similar to those accrued with respect to such person under the CSC Deferred Compensation Plan as of immediately prior to the establishment of such planEffective Time. As of the earlier of the Effective Time or the date on which such plan is establishedTime, the Computer Sciences GS Group Employees and Computer Sciences GS Directors shall no longer participate in the CSC Deferred Compensation Plan. The Parties agree that for purposes of the CSC Deferred Compensation Plan the employment of a Computer Sciences GS Deferred Compensation Plan Beneficiary shall not be considered to have terminated as a result of the Distribution or the transfer of employment from CSC (or a CSC Entity) to Computer Sciences GS (or a Computer Sciences GS Entity), and such employment shall only be considered to terminate for purposes of the Computer Sciences GS Deferred Compensation Plan when the employment of such Computer Sciences GS Deferred Compensation Plan Beneficiary with the Computer Sciences GS Group terminates in accordance with the terms of the Computer Sciences GS Deferred Compensation Plan and applicable Laws.

Appears in 2 contracts

Samples: Agreement and Plan of Merger (Computer Sciences Corp), Agreement and Plan of Merger (Sra International, Inc.)

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