Retirement Account Plan Sample Clauses

Retirement Account Plan. With respect to the Textron, Inc. Retirement Account Plan (“Seller’s Companion Defined Contribution Plan”), a tax-qualified defined contribution plan of U.S. Seller linked to Seller’s Salaried Pension Benefit Plan, U.S. Purchaser shall establish or designate a tax-qualified defined contribution plan (“Purchaser’s Companion Defined Contribution Plan”) providing benefits substantially identical to those provided for salaried Employees participating in Seller’s Companion Defined Contribution Plan, which plan shall be linked to Purchaser’s Salaried Pension Plan in the same manner as Seller’s Companion Defined Contribution Plan is linked to Seller’s Salaried Pension Benefit Plan; provided, however, that the foregoing shall not be construed to limit the ability of U.S. Purchaser or such Affiliate to amend or terminate Purchaser’s Companion Defined Contribution Plan or the benefits provided thereunder at any time or from time to time following the Closing in any manner, subject to compliance with applicable Law and Section 9.2. Following the Closing, on or about the time that the asset transfer described in Section 9.3(a)(iv) takes place, U.S. Seller shall also cause the trustee under Seller’s Companion Defined Contribution Plan to transfer to the trustee of Purchaser’s Companion Defined Contribution Plan assets (in cash) in an amount equal to the account balances (whether or not vested), valued as of the day before the actual asset transfer date, of each salaried Employee then participating in Seller’s Companion Defined Contribution Plan. Upon such transfer of assets, Purchaser’s Companion Defined Contribution Plan shall assume all liabilities for benefits accrued as of the date of such transfer under Seller’s Companion Defined Contribution Plan in respect of such individuals and Seller’s Companion Defined Contribution Plan shall be relieved of all such liabilities.