Common use of PARENT NON-QUALIFIED RETIREMENT PLANS Clause in Contracts

PARENT NON-QUALIFIED RETIREMENT PLANS. Effective as of the Distribution Date, Xxxxx Xxxxxxx shall establish a non-qualified pension plan (the "XXXXX XXXXXXX NON-QUALIFIED RETIREMENT PLAN") that is substantially identical to the Parent Non-Qualified Retirement Plan to provide benefits to Xxxxx Xxxxxxx Employees and Former Xxxxx Xxxxxxx Employees from and after the Distribution Date who were participants in the Parent Non-Qualified Retirement Plan as of immediately prior to the Distribution Date. Effective as of the Distribution Date, Xxxxx Xxxxxxx shall assume and be solely responsible for all Liabilities of Parent for, or relating to, benefits accrued through the Distribution Date by or with respect to Xxxxx Xxxxxxx Employees and Former Xxxxx Xxxxxxx Employees under the Parent Non-Qualified Retirement Plan and the Xxxxx Xxxxxxx Non-Qualified Retirement Plan.

PARENT NON-QUALIFIED RETIREMENT PLANS. Effective as of the Distribution Date, Xxxxx Xxxxxxx shall establish a non-qualified pension plan (the "XXXXX XXXXXXX NONXxxxx Xxxxxxx Non-QUALIFIED RETIREMENT PLANQualified Retirement Plan") that is substantially identical to the Parent Non-Qualified Retirement Plan to provide benefits to Xxxxx Xxxxxxx Employees and Former Xxxxx Xxxxxxx Employees from and after the Distribution Date who were participants in the Parent Non-Qualified Retirement Plan as of immediately prior to the Distribution Date. Effective as of the Distribution Date, Xxxxx Xxxxxxx shall assume and be solely responsible for all Liabilities of Parent for, or relating to, benefits accrued through the Distribution Date by or with respect to Xxxxx Xxxxxxx Employees and Former Xxxxx Xxxxxxx Employees under the Parent Non-Qualified Retirement Plan and the Xxxxx Xxxxxxx Non-Qualified Retirement Plan.