Parent Divided Pension Plans. As of the Operational Separation Date, UpstreamCo shall cause each UpstreamCo Pension Plan to assume Liabilities for UpstreamCo Group Employees and Former UpstreamCo Group Employees under the corresponding Parent Divided Pension Plan and shall cause the UpstreamCo Pension Trust to accept Assets with respect to such assumed Liabilities (including Assets and Liabilities in respect of beneficiaries and/or alternate payees). In accordance with the rules set forth in Section 5.01(b)(ii), the Parent Pension Trust shall transfer such Assets to the UpstreamCo Pension Trust and, upon completion of such Asset transfer, the Parent Divided Pension Plans and the Parent Group shall be relieved of such Liabilities.
Appears in 4 contracts
Samples: Employee Matters Agreement, Employee Matters Agreement (Arconic Inc.), Employee Matters Agreement (Alcoa Corp)
