Preservation of Rights to Amend or Terminate Plans. No provision of this Agreement, shall be construed as a limitation on the right of the Company or Spinco to amend any plan or terminate its participation therein which the Company or Spinco would otherwise have under the terms of such plan or otherwise, and no provision of this Agreement shall be construed to create a right in any employee or beneficiary of such employee under a plan that such employee or beneficiary would not otherwise have under the terms of such plan itself.
Appears in 3 contracts
Samples: Restructuring, Financing and Distribution Agreement (Lockheed Martin Corp), Restructuring, Financing and Distribution Agreement (Lockheed Martin Corp), Restructuring, Financing and Distribution Agreement (Loral Corp /Ny/)
Preservation of Rights to Amend or Terminate Plans. No provision provisions of this Agreement, Agreement shall be construed as a limitation on the right of the Company Spinco or any Spinco Subsidiary to amend any such plan or terminate its participation therein which the Company Spinco or any Spinco Subsidiary would otherwise have under the terms of such plan or otherwise, and no provision of this Agreement shall be construed to create a right in any employee or beneficiary of such employee under a plan that which such employee or beneficiary would not otherwise have under the terms of such the plan itself.
Appears in 1 contract
Samples: Agreement and Plan of Reorganization (North Star Universal Inc)
