Common use of Motorola Pension Plan Clause in Contracts

Motorola Pension Plan. (a) On the Reorganization Date and continuing through the Distribution Date, Freescale shall adopt and maintain the Motorola, Inc. Pension Plan (the “Motorola Pension Plan”) for the benefit of its eligible employees, and Motorola shall consent to such adoption and maintenance, in accordance with the terms of the Motorola Pension Plan. Immediately prior to the Distribution Date, each U.S. Transferred Employee and other Freescale employee shall cease to accrue benefits and to otherwise actively participate in the Motorola Pension Plan. (b) As soon as practicable after the Distribution Date, Motorola shall cause the Motorola Pension Plan to (i) inform the U.S. Transferred Employees and other Freescale employees who are participants in such plan of their rights thereunder; and (ii) permit any U.S. Transferred Employees and other Freescale employees who are eligible to receive their vested accrued benefit under the Motorola Pension Plan in the form of an immediate single sum distribution, to elect to take such a distribution from such plan. Freescale shall cause the plan administrator of the Freescale 401(k) Plan to take any and all necessary action to permit the U.S. Transferred Employees and other Freescale employees described in clause (ii) above, if requested by them, to roll over directly their distributions from the Motorola Pension Plan to the Freescale 401(k) Plan, subject to reasonable conditions similar to those described in Section 2.6(b) above.