Common use of Other Benefit Matters Clause in Contracts

Other Benefit Matters. (a) Nothing contained herein will in any way alter the right of Parent or HY, before or after the Spin-Off Date, to amend or terminate any Parent Benefit Plan or HY Benefit Plan, as applicable, in accordance with its terms and applicable Law. (b) On or before the Spin-Off Date, Parent and HY agree that (i) they will take such actions as they determine are necessary and advisable to establish separate administrative services agreements and funding vehicles for the HY Benefit Plans (including the NMHG Pension Plan) and Parent Benefit Plans and/or to provide for transitional services related thereto and (ii) they will use reasonable, good faith efforts to cooperate with each other and take such steps as are necessary and advisable to implement the actions described in this Article III. (c) After the Spin-Off Date, Parent and HY will continue to cooperate in good faith and share (to the extent permissible under applicable privacy/data protection laws) all relevant documents, payroll and employment information as needed with respect to the continued administration of the HY Benefit Plans (and the NMHG Pension Plan) and the Parent Benefit Plans; provided that requests for cooperation must be reasonable and not interfere with daily business operations.

Appears in 3 contracts

Samples: Separation Agreement (Nacco Industries Inc), Separation Agreement (Hyster-Yale Materials Handling, Inc.), Separation Agreement (Hyster Yale Materials Handling Inc.)

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Other Benefit Matters. (a) Nothing contained herein will in any way alter the right of Parent or HY, before or after the Spin-Off Date, to amend or terminate any Parent Benefit Plan or HY Benefit Plan, as applicable, in accordance with its terms and applicable Law. (b) On or before the Spin-Off Date, Parent and HY agree that (i) they will take such actions as they determine are necessary and advisable to establish separate administrative services agreements and funding vehicles for the HY Benefit Plans (including the NMHG Pension Plan) and Parent Benefit Plans and/or to provide for transitional services related thereto and (ii) they will use reasonable, good faith efforts to cooperate with each other and take such steps as are necessary and advisable to implement the actions described in this Article III.. 8 (c) After the Spin-Off Date, Parent and HY will continue to cooperate in good faith and share (to the extent permissible under applicable privacy/data protection laws) all relevant documents, payroll and employment information as needed with respect to the continued administration of the HY Benefit Plans (and the NMHG Pension Plan) and the Parent Benefit Plans; provided that requests for cooperation must be reasonable and not interfere with daily business operations. IV.

Appears in 1 contract

Samples: Separation Agreement

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