KAR Savings Plan after Effective Time. From and after the Effective Time, (i) the KAR Savings Plan shall continue to be responsible for liabilities in respect of KAR Group Employees and Former KAR Group Employees, and (ii) no SpinCo Group Employees or Former SpinCo Group Employees shall accrue any benefits under the KAR Savings Plan. Without limiting the generality of the foregoing, SpinCo Group Employees and Former SpinCo Group Employees shall cease to be participants in the KAR Savings Plan effective as of the Effective Time.
Appears in 4 contracts
Samples: Employee Matters Agreement (KAR Auction Services, Inc.), Employee Matters Agreement (IAA, Inc.), Employee Matters Agreement (IAA Spinco Inc.)
