No Loss of Unvested Benefits; No Distributions. The transfer of any UpstreamCo Group Employee’s employment to the UpstreamCo Group will not result in the loss of that UpstreamCo Group Employee’s unvested accrued benefits (if any) under the Parent Divided Pension Plans, the Liability for which benefits shall be assumed under the UpstreamCo Pension Plans as provided herein. No UpstreamCo Group Employee shall be entitled to a distribution of his or her benefit under the applicable Parent Divided Pension Plan or the applicable UpstreamCo Pension Plan as a result of such transfer of employment.
Appears in 4 contracts
Samples: Employee Matters Agreement, Employee Matters Agreement (Alcoa Corp), Employee Matters Agreement (Arconic Inc.)
No Loss of Unvested Benefits; No Distributions. The transfer of any UpstreamCo Group Employee’s employment to the UpstreamCo Group will not result in the loss of that UpstreamCo Group Employee’s unvested accrued benefits (if any) under the applicable Parent Divided Pension PlansSavings Plan, the Liability for which benefits shall will be assumed under the corresponding UpstreamCo Pension Plans Savings Plan as provided herein. No UpstreamCo Group Employee shall be entitled to a distribution of his or her benefit under the applicable Parent Divided Pension Savings Plan or the applicable UpstreamCo Pension Savings Plan as a result of such transfer of employment.
Appears in 4 contracts
Samples: Employee Matters Agreement, Employee Matters Agreement (Arconic Inc.), Employee Matters Agreement (Alcoa Corp)
