Mexico Pension Plan Clause Samples
Mexico Pension Plan. Effective as of the Separation Date, ▇▇▇▇ ▇▇▇▇▇▇▇ shall establish the ▇▇▇▇ ▇▇▇▇▇▇▇ Mexico pension plan. The Liabilities under the Pension Plan for the Personnel of ▇▇▇▇▇▇▇-▇▇▇▇▇ Squibb de Mexico, S de ▇.▇. de C.V. as of the Separation Date attributable to Foreign ▇▇▇▇ ▇▇▇▇▇▇▇ Transferred Employees participating in such Plan shall be transferred to and assumed by the ▇▇▇▇ ▇▇▇▇▇▇▇ Mexico pension plan by operation of law. The amount of Liabilities subject to such transfer and assumption shall be calculated as provided in Section 5.2 of the Schedules, subject to applicable law, by the trustees of the Plan in consultation with the Plan’s actuarial firm. The terms and conditions of the transfer and assumption shall be approved by BMS and ▇▇▇▇ ▇▇▇▇▇▇▇ or their respective designees. BMS and ▇▇▇▇ ▇▇▇▇▇▇▇ agree to use commercially reasonable efforts to accomplish this transfer and assumption as soon as practicable following the Separation Date and to cooperate with each other to make such filings and disclosure and obtain such approvals as may be necessary or advisable. BMS shall have no obligation to make any payment or asset transfer to ▇▇▇▇ ▇▇▇▇▇▇▇ in connection with ▇▇▇▇ Johnson’s assumption of Liabilities hereunder.
Mexico Pension Plan. (A) Effective as of the Plan Split Date, Delphi Diesel Systems S. de ▇.▇. de C.V. has established and adopted a defined benefit pension plan (the “Mexico Spinoff Pension Plan”) to provide retirement benefits to certain Non-U.S. Delphi Technologies Employees in Mexico who participated in the Delphi Diesel Systems S. de ▇.▇. de C.V. Pension Plan, Delphi Sistemas de Energia S. de ▇.▇. de C.V. Pension Plan, Sistemas Electricos y Conmutadores S. de ▇.▇. de C.V. Pension Plan, Delphi Automotive Systems S. de ▇.▇. de C.V. or Delphi Delco Electronics de Mexico S. de ▇.▇. de C.V. Pension Plan (the “Mexico Split Pension Plans”) prior to the Plan Split Date. The Mexico Spinoff Pension Plan assumed liability for all benefits accrued or earned by Non-U.S. Delphi Technologies Employees and their Plan Payees under the Mexico Split Pension Plans as of the Plan Split Date. As of the Plan Split Date, Delphi Technologies or a member of the Delphi Technologies Group is solely responsible for taking all necessary, reasonable, and appropriate actions to maintain and administer the Mexico Spinoff Pension Plan so that it complies with applicable local law. As of the Plan Split Date, the liabilities under the Mexico Split Pension Plans relating to Delphi Technologies Employees, Former Delphi Technologies Business Employees, and their Plan Payees have ceased to be liabilities of the Mexico Split Pension Plans, and have been assumed by the Mexico Spinoff Pension Plan, and the Aptiv Group and the Mexico Split Pension Plans will retain all liabilities with respect to Aptiv Employees and Former Aptiv Business Employees.
(B) On the Plan Split Date, Aptiv or a member of the Aptiv Group caused the Mexico Split Pension Plans (or any applicable trust related thereto) to transfer to the Mexico Spinoff Pension Plan (or any applicable trust related thereto) a portion of the assets of the Mexico Split Pension Plans, in cash or in kind, equal to the assets associated with the Sistemas Electricos y Conmutadores S. de ▇.▇. de C.V. Pension Plan, the Delphi Sistemas de Energia S. de ▇.▇. de C.V. Pension Plan and the Delphi Diesel Systems S. de ▇.▇. de C.V. Pension Plan that are fully being assumed by the Mexico Spinoff Pension Plan and for the Delphi Automotive Systems S. de ▇.▇. de C.V. and the Delphi Delco Electronics de Mexico S. de ▇.▇. de C.V. Pension Plan where only a portion of the liabilities are assumed, assets will transfer with the projected benefit obligation as of the Distribution Date o...
Mexico Pension Plan. Effective as of the Separation Date, ▇▇▇▇ ▇▇▇▇▇▇▇ shall establish the ▇▇▇▇ ▇▇▇▇▇▇▇ Mexico pension plan. The Liabilities under the Pension Plan for the Personnel of ▇▇▇▇▇▇▇-▇▇▇▇▇ Squibb de Mexico, S de ▇.▇. de C.V. as of the Separation Date attributable to Foreign ▇▇▇▇ ▇▇▇▇▇▇▇ Transferred Employees participating in such Plan shall be transferred to and assumed by the ▇▇▇▇ ▇▇▇▇▇▇▇ Mexico pension plan by operation of law. The amount of Liabilities subject to such transfer and assumption shall be calculated as provided in