Common use of MRO Continuation of Elections Clause in Contracts

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

Appears in 3 contracts

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

AutoNDA by SimpleDocs

MRO Continuation of Elections. As of the Distribution each Delayed Transfer Employee’s Transfer Date, Marathon Oil (acting directly or through a member of the MRO Group) shall cause the Retirement Plan of Marathon Oil Company to recognize, to the extent practicable, all existing elections under the MPC Retirement Pension Plan, 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 MPC Group to the MRO Participants under the Marathon Petroleum Retirement PlanGroup.

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!