Establishment of Certain Valvoline Benefit Plans. Effective as of no later than the applicable Benefit Plan Transfer Date, a member of the Valvoline Group shall establish or shall cause to be established the Benefit Plans set forth in Schedule 4.01 (the “New Valvoline Plans”). A member of the Valvoline Group shall be the sole plan sponsor of, and from and after the date of adoption thereof, shall have the sole responsibility and liability for, each New Valvoline Plan. The members of the Valvoline Group shall cease to be participating members in each corresponding Ashland Global Benefit Plan as of the applicable Benefit Plan Transfer Date.
Appears in 4 contracts
Samples: Employee Matters Agreement (Ashland LLC), Employee Matters Agreement (Valvoline Inc), Employee Matters Agreement (Valvoline Inc)
