Establishment of Carrier Welfare Plans and Otis Welfare Plans. Except as otherwise provided in this Article VIII, as of no later than the Effective Time, Carrier shall establish the Carrier Welfare Plans and Otis shall establish the Otis Welfare Plans, in each case, with terms substantially similar to the UTC Welfare Plans, and in all cases, with such changes, modifications or amendments as may be required by applicable Law or as are necessary and appropriate to reflect the Separation. In addition, the Carrier Group and Otis Group shall retain the right to modify, amend, alter or terminate the terms of any Carrier Welfare Plans and Otis Welfare Plans, respectively, to the same extent that the UTC Group had such rights under the corresponding UTC Welfare Plan.
Appears in 7 contracts
Samples: Employee Matters Agreement (Raytheon Technologies Corp), Employee Matters Agreement (Carrier Global Corp), Employee Matters Agreement (Otis Worldwide Corp)
