No ESOP Contributions for Departing Employees. Holdco, the General Partner and the OLP GP acknowledge that neither the Partnership nor the Operating Partnerships shall be obligated to reimburse Holdco, the General Partner or the OLP GP for obligations to redeem the ESOP accounts of departing employees upon the termination of their employment with the Company, or for any other costs or expenses of or relating to the operation of the ESOP other than those specified in Section 2.02 above.
Appears in 3 contracts
Samples: Exchange Agreement (Buckeye Partners L P), Exchange Agreement (Buckeye GP Holdings L.P.), Exchange Agreement (Buckeye Partners L P)
No ESOP Contributions for Departing Employees. Holdco, the General Partner and the OLP GP acknowledge that neither the Partnership nor the Operating Partnerships shall be obligated to reimburse Holdco, the General Partner or the OLP GP for obligations to redeem the ESOP accounts of departing employees upon the termination of their employment with the Company, or for any other costs or expenses of or relating to the operation of the ESOP other than those specified in Section 2.02 2.02(a) above.
Appears in 3 contracts
Samples: Exchange Agreement (Buckeye Partners L P), Exchange Agreement (Buckeye GP Holdings L.P.), Exchange Agreement (Buckeye GP Holdings L.P.)
No ESOP Contributions for Departing Employees. Holdco, Holdco and the General Partner and the OLP GP acknowledge that neither the Partnership nor the Operating Partnerships shall be obligated to reimburse Holdco, Holdco or the General Partner or the OLP GP for obligations to redeem the ESOP accounts of departing employees upon the termination of their employment with the Company, or for any other costs or expenses of or relating to the operation of the ESOP other than those specified in Section 2.02 2.02(a) above.
Appears in 1 contract
