Liquidation of Company Stock Funds. Subject to the fiduciary and other requirements of ERISA, and any other applicable Laws, NiSource shall take such actions as are reasonably necessary to ensure that any liquidation of Columbia Shares held in the NiSource RSP after the Distribution Date is orderly and periodic. Subject to the exercise of its fiduciary duties or other requirements of ERISA and any other applicable Laws, as soon as administratively practicable after the Distribution Date, NiSource shall permit participants in the NiSource RSP to transfer the investment of their plan accounts out of the Columbia Share fund maintained under such plan and shall prohibit participants from transferring the investment of their plan accounts or electing the investment of new contributions into such Columbia Share fund, but shall not otherwise require the liquidation of any Columbia Shares from the NiSource RSP until the first anniversary of the Distribution Date or other such date determined by the NiSource Benefits Committee as the named fiduciary for the NiSource RSP. Notwithstanding the foregoing, nothing herein shall require the liquidation of Columbia Shares from the NiSource RSP. Subject to the fiduciary and other requirements of ERISA, and any other applicable Laws, Columbia shall take such actions as are reasonably necessary to ensure that any liquidation of NiSource Shares held in the Columbia RSP is orderly and periodic. Subject to the exercise of its fiduciary duties or other requirements of ERISA and any other applicable Laws, as soon as administratively practicable after the Distribution Date, Columbia shall permit participants in the Columbia RSP to transfer the investment of their plan accounts out of the NiSource Share fund maintained under such plan and shall prohibit participants from transferring the investment of their plan accounts or electing the investment of new contributions into such NiSource Share fund, but shall not otherwise require the liquidation of any NiSource Shares from the Columbia RSP until the first anniversary of the Distribution Date or other such date determined by the named fiduciary for the Columbia RSP. Notwithstanding the foregoing, nothing herein shall require the liquidation of NiSource Shares from the Columbia RSP.
Appears in 4 contracts
Samples: Employee Matters Agreement, Employee Matters Agreement (Nisource Inc/De), Employee Matters Agreement (Columbia Pipeline Group, Inc.)
