Olin CEOP Sample Clauses

Olin CEOP. As of the Distribution Date, Olin and Arch will take such steps as are necessary or desirable to convert the Olin CEOP into a multiple employer plan in which both Olin and Arch shall be participating employers. On and after the Distribution Date, employer contributions made on behalf of Arch Employees will be made solely by Arch. As of a date to be determined by Arch which may not be more than two years after the Distribution Date, Arch shall establish an Arch SIP and shall no longer participate in the Olin CEOP. Under the multiple employer plan, Arch Employees will become 100% vested in matching contributions following completion of five years of service (including prior service with Olin). Arch Common Stock received by Olin Employees in the Olin CEOP as a result of the Distribution that is attributable to (i) Olin contributions made before the Distribution may be retained in Arch Common Stock or reinvested in Olin Common Stock at the participant's election at any time and (ii) employee contributions may be retained in Arch Common Stock or reinvested in any other available option under the Olin CEOP at the participant's election at any time. Except as provided in the preceding sentence, contributions made to or held under the Olin CEOP on behalf of Olin Employees may not be invested in Arch Common Stock. Dividends on Arch Common Stock in accounts of Olin Employees will be reinvested in Olin Common Stock. Olin Common Stock held in the accounts of Arch Employees that is attributable to (i) Olin contributions made before the Distribution may be retained in Olin Common Stock or reinvested only in Arch Common Stock at the participant's election and (ii) employee contributions may be retained in Olin Common Stock or reinvested in any other available option under the Olin CEOP at the participant's election. Except as provided in the preceding sentence, contributions after the Distribution Date made to or held under the Olin CEOP on behalf of Arch Employees may not be invested in Olin Common Stock. Dividends on Olin Common Stock in accounts of Arch Employees will be reinvested in Arch Common Stock.
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