Common use of MPC Continuation of Elections Clause in Contracts

MPC Continuation of Elections. As of the Distribution Date, Marathon Petroleum (acting directly or through a member of the MPC Group) shall cause the Marathon Petroleum Retirement Plan to recognize, to the extent practicable, all existing elections, including beneficiary designations, payment form elections and rights of alternate payees under qualified domestic relations orders with respect to MPC Participants under the Retirement Plan of Marathon Oil Company.

Appears in 3 contracts

Samples: Employee Matters Agreement, Employee Matters Agreement (Marathon Petroleum Corp), Employee Matters Agreement (Marathon Petroleum Corp)

AutoNDA by SimpleDocs

MPC Continuation of Elections. As of the Distribution each Delayed Transfer Employee’s Transfer Date, Marathon Petroleum (acting directly or through a member of the MPC Group) shall cause the Marathon Petroleum Retirement Plan to recognize, to the extent practicable, all existing electionselections under the Retirement Plan of Marathon Oil Company, including beneficiary designations, payment form elections and rights of alternate payees under qualified domestic relations orders with respect to each Delayed Transfer Employee who transfers from the MRO Group to the MPC Participants under the Retirement Plan of Marathon Oil CompanyGroup.

Appears in 2 contracts

Samples: Employee Matters Agreement (Marathon Petroleum Corp), Employee Matters Agreement (Marathon Petroleum Corp)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!