Other Cash Incentive Plans. (i) No later than the Effective Time, the Parent Group shall continue to retain (or assume as necessary) any cash incentive plan for the exclusive benefit of Parent Group Employees and Former Parent Group Employees, whether or not sponsored by the Parent Group, and, from and after the Effective Time, shall be solely responsible for all Liabilities thereunder. (ii) No later than the Effective Time, the SpinCo Group shall continue to retain (or assume as necessary) any cash incentive plan for the exclusive benefit of SpinCo Group Employees and Former SpinCo Group Employees, whether or not sponsored by the SpinCo Group, and, from and after the Effective Time, shall be solely responsible for all Liabilities thereunder.
Appears in 8 contracts
Samples: Employee Matters Agreement (Vestis Corp), Employee Matters Agreement (Aramark), Employee Matters Agreement (Vestis Corp)
Other Cash Incentive Plans. (i) No later than the Effective Time, the Parent Group shall continue to retain (or assume as necessary) any cash incentive plan that is for the exclusive benefit of Parent Group Employees and Former Parent Group Employees, whether or not sponsored by the Parent Group, Employees and, from and after the Effective Time, shall be solely responsible for all Liabilities thereunder.
(ii) No later than the Effective Time, the SpinCo Group shall establish or continue to retain (or assume as necessary) any cash incentive plan that is for the exclusive benefit of SpinCo Group Employees and Former SpinCo Group Employees, whether or not sponsored by the SpinCo Group, Employees and, from and after the Effective Time, shall be solely responsible for all Liabilities thereunder.
Appears in 5 contracts
Samples: Employee Matters Agreement (Mdu Resources Group Inc), Employee Matters Agreement (Everus Construction Group, Inc.), Employee Matters Agreement (Mdu Resources Group Inc)
