International Pension Plans. Except as otherwise provided herein, at the Effective Time (or at any earlier date required at applicable law), SpinCo shall or shall cause another member of the SpinCo Group to assume each Parent Plan providing pension or retirement benefits to Business Employees in jurisdictions outside of the United States. Notwithstanding the foregoing, Parent shall or shall cause a member of the Parent Group to retain the liabilities to Business Employees who do not become Transferred Employees under the Parent Plans in which employees located in Italy or Spain participate as of immediately prior to the Effective Time.
Appears in 4 contracts
Samples: Employee Matters Agreement (Sylvamo Corp), Employee Matters Agreement (Sylvamo Corp), Employee Matters Agreement (Sylvamo Corp)
