Establishment of Plans. The School Corporation agrees to establish and maintain a VEBA Plan, consistent with all applicable federal statutes, rules and regulations regarding establishment of, and participation in, a VEBA Plan, for all certified employees covered under this Agreement. The School Corporation also agrees to establish and maintain a 403(b) plan and a 457 plan for all certified employees covered under this agreement.
Establishment of Plans. Before the Effective Time, SpinCo shall, or shall cause an applicable member of the SpinCo Group to, adopt Benefit Plans (and related trusts, if applicable), with terms comparable (or such other standard as is specified in this Agreement with respect to any particular Benefit Plan) to those of the corresponding KAR Benefit Plans. The U.S. KAR Benefit Plans are listed on Schedule 2.03(a)(i) and the Canadian KAR Benefit Plans are listed on Schedule 2.03(a)(ii). SpinCo may limit participation in any such SpinCo Benefit Plan to SpinCo Group Employees and Former SpinCo Group Employees who participated in the corresponding KAR Benefit Plan immediately prior to the Effective Time. SpinCo shall, or shall cause an applicable member of the SpinCo Group to, adopt such other Benefit Plans as specified in this Agreement.
Establishment of Plans. Effective Immediately after the Distribution Date, Tronox and the Tronox Entities shall assume and be solely responsible for all liabilities to or relating to Transferred Individuals under the defined benefit portion of the Xxxx-XxXxx Benefits Restoration Plan and under the Xxxx-XxXxx Corporation Chemical Division Nonqualified Retirement Plan.
Establishment of Plans. As of the Operational Separation Date, Spinco shall, or shall cause an applicable member of the Spinco Group to, adopt Benefit Plans (and related trusts, if applicable), with terms comparable (or such other standard as is specified in this Agreement with respect to any particular Benefit Plan) to those of the corresponding Parent Benefit Plans; provided, however, that Spinco may limit participation in any such Spinco Benefit Plan to Spinco Group Employees and Former Spinco Group Employees who participated in the corresponding Parent Benefit Plan immediately prior to the Operational Separation Date.
Establishment of Plans. As of the Operational Separation Date, Spinco shall establish the Spinco savings plans (the “Spinco Savings Plans”), each of which shall initially have substantially the same terms as those of the corresponding Parent Savings Plan as in effect immediately prior to the Operational Separation Date. As of the Operational Separation Date, Spinco shall provide Parent with (i) a copy of the Spinco Savings Plans; and (ii) a copy of certified resolutions of the Spinco Board (or its authorized committee or other delegate) evidencing adoption of the Spinco Savings Plans and the related trust(s) and the assumption by the Spinco Savings Plan of the Liabilities described in Section 5.03(b).
Establishment of Plans. As of the Operational Separation Date, UpstreamCo shall, or shall cause an applicable member of the UpstreamCo Group to, adopt Benefit Plans (and related trusts, if applicable), with terms comparable (or such other standard as is specified in this Agreement with respect to any particular Benefit Plan) to those of the corresponding Parent Benefit Plans; provided, however, that UpstreamCo may limit participation in any such UpstreamCo Benefit Plan to UpstreamCo Group Employees and Former UpstreamCo Group Employees who participated in the corresponding Parent Benefit Plan immediately prior to the Operational Separation Date.
Establishment of Plans. As of the Operational Separation Date, UpstreamCo shall establish the UpstreamCo Savings Plans, each of which shall initially have substantially the same terms as those of the corresponding Parent Savings Plan as in effect immediately prior to the Operational Separation Date. As of the Operational Separation Date, UpstreamCo shall provide Parent with (i) a copy of the UpstreamCo Savings Plans; and (ii) a copy of certified resolutions of the UpstreamCo Board (or its authorized committee or other delegate) evidencing adoption of the UpstreamCo Savings Plans and the related trust(s) and the assumption by the UpstreamCo Savings Plan of the Liabilities described in Section 5.03(b).
Establishment of Plans nVent shall, or shall cause an applicable member of the nVent Group to, adopt Benefit Plans (and related trusts, if applicable), to be effective no later than the Effective Time (or if provided in this Agreement, to be effective at the end of the Transition Period) with terms that are in the aggregate comparable (or such other standard as is specified in this Agreement with respect to any particular Benefit Plan) to those of the corresponding Pentair Benefit Plans as in effect immediately prior to the date such plans are adopted; provided, however, that nVent may limit participation in any such nVent Benefit Plan to nVent Group Employees and Former nVent Group Employees who were entitled to participate in the corresponding Pentair Benefit Plan immediately prior to the date of adoption of such plan to the extent consistent with this Agreement.
Establishment of Plans. Before the Effective Time, SpinCo shall, or shall cause an applicable member of the SpinCo Group to, adopt Benefit Plans (and related trusts, if applicable), with terms comparable (or such other standard as is specified in this Agreement with respect to any particular Benefit Plan) to those of the corresponding Rayonier Benefit Plans, including in particular those listed on Schedule 2.03(a); provided, however, that SpinCo may limit participation in any such SpinCo Benefit Plan to SpinCo Group Employees and Former SpinCo Group Employees who participated in the corresponding Rayonier Benefit Plan immediately prior to the Effective Time.
Establishment of Plans. Except as otherwise explicitly provided in this Agreement, before the Effective Time, Veoneer shall, or shall cause an applicable member of the Veoneer Group to, adopt Benefit Plans (and related trusts, if applicable), with terms that are in the aggregate comparable (or such other standard as is specified in this Agreement with respect to any particular Benefit Plan) to those of the corresponding Autoliv Benefit Plans; provided, however, that Veoneer may limit participation in any such Veoneer Benefit Plan to Veoneer Group Employees and Former Veoneer Group Employees who participated in the corresponding Autoliv Benefit Plan immediately prior to the date of establishment of such plan.
