Participation; Distributions. The Parties acknowledge that none of the transactions contemplated by this Agreement, the Separation and Distribution Agreement or any Ancillary Agreement will trigger a payment or distribution of compensation under any of the Parent Divided Nonqualified Plans or Spinco Nonqualified Plans for any participant and, consequently, that the payment or distribution of any compensation to which such participant is entitled under any of the Parent Divided Nonqualified Plans or Spinco Nonqualified Plans will occur upon such participant’s separation from service from the Spinco Group or at such other time as provided in the applicable Spinco Nonqualified Plan or participant’s deferral election.
Appears in 4 contracts
Samples: Employee Matters Agreement (Howmet Aerospace Inc.), Employee Matters Agreement (Arconic Corp), Employee Matters Agreement (Arconic Rolled Products Corp)
Participation; Distributions. The Parties acknowledge that none of the transactions contemplated by this Agreement, the Separation and Distribution Agreement or any Ancillary Agreement will trigger a payment or distribution of compensation under any of the Parent Divided Rayonier Nonqualified Plans or Spinco SpinCo Nonqualified Plans for any participant and, consequently, that the payment or distribution of any compensation to which such participant is entitled under any of the Parent Divided Rayonier Nonqualified Plans or Spinco SpinCo Nonqualified Plans will occur upon such participant’s separation from service from the Spinco SpinCo Group or at such other time as provided in the applicable Spinco SpinCo Nonqualified Plan or participant’s deferral election.
Appears in 3 contracts
Samples: Employee Matters Agreement (Rayonier Advanced Materials Inc.), Employee Matters Agreement (Rayonier Advanced Materials Inc.), Employee Matters Agreement (Rayonier Advanced Materials Inc.)
