Common use of Retirement and Savings Plans Clause in Contracts

Retirement and Savings Plans. (i) If Executive was participating in any Retirement Plan or Savings Plan (each as defined in Exhibit A) immediately prior to an Involuntary Termination prior to, or after the second anniversary of, a Change of Control, the Executive will continue to accrue or be deemed to accrue benefits during the Compensation Period under such Retirement Plans and Savings Plans for purposes of benefit accrual and employer matching contributions, as applicable, based on the same formula and matching amount as in effect immediately prior to such Termination. If the Executive will have attained age 50 at the end of the Compensation Period with 10 years of service (including the Compensation Period), the Executive will, subject to the conditions of Paragraph 6, be deemed retired with the consent of the Company for the purposes of welfare and executive compensation plans but not for the purposes of any Retirement or Savings Plan. Notwithstanding any provision herein to the contrary, upon such a Termination pension benefits under any Retirement Plan based on "Average Final Compensation" will be calculated applying the rate of one year's Full Pay and the Executive's Annual Flexible Perquisite Allowance for each year in the Compensation Period. (ii) If Executive was participating in any Retirement Plan immediately prior to an Involuntary Termination during the two (2) year period beginning on a Change of Control, the Executive will be deemed to accrue benefits during the Compensation Period under such Retirement Plans for purposes of benefit accrual based on the same formula as in effect immediately prior to such Termination. If the Executive will have attained age 50 at the end of the Compensation Period with 10 years of service (including the Compensation Period), the Executive will, subject to the conditions of Paragraph 6, be deemed retired with the consent of the Company for the purposes of welfare and executive compensation plans but not for the purposes of any Retirement. Notwithstanding any provision herein to the contrary, upon such a Termination pension benefits under any Retirement Plan based on "Average Final Compensation" will be calculated applying the rate of one year's Base Cash for each year in the Compensation Period.

Retirement and Savings Plans. (i) If Executive was participating in any Retirement Plan or Savings Plan (each as defined in Exhibit A) immediately prior to an Involuntary Termination prior to, or after the second anniversary of, a Change of Control, the Executive will continue to accrue or be deemed to accrue benefits during the Compensation Period under such Retirement Plans and Savings Plans for purposes of benefit accrual and employer matching contributions, as applicable, based on the same formula and matching amount as in effect immediately prior to such Termination. If the Executive will have attained age 50 at the end of the Compensation Period with 10 years of service (including the Compensation Period), the Executive will, subject to the conditions of Paragraph 6, be deemed retired with the consent of the Company for the purposes of welfare and executive compensation plans but not for the purposes of any Retirement or Savings Plan. Notwithstanding any provision herein to the contrary, upon such a Termination pension benefits under any Retirement Plan based on "Average Final Compensation" will be calculated applying the rate of one year's Full Pay and the Executive's Annual Flexible Perquisite Allowance for each year in the Compensation Period. (ii) If Executive was participating in any Retirement Plan immediately prior to an Involuntary Termination during the two (2) year period beginning on a Change of Control, the Executive will be deemed to accrue benefits during the Compensation Period under such Retirement Plans for purposes of benefit accrual based on the same formula as in effect immediately prior to such Termination. If the Executive will have attained age 50 at the end of the Compensation Period with 10 years of service (including the Compensation Period), the Executive will, subject to the conditions of Paragraph 6, be deemed retired with the consent of the Company for the purposes of welfare and executive compensation plans but not for the purposes of any Retirement. Notwithstanding any provision herein to the contrary, upon such a Termination pension benefits under any Retirement Plan based on "Average Final Compensation" will be calculated applying the rate of one year's Base Cash for each year in the Compensation Period.Plan

Retirement and Savings Plans. (ia) If Executive was Effective no later than the Plan Transition Date and subject to the terms of any applicable Collective Bargaining Agreement, Cummins shall cause a member of the Filtration Group to adopt, establish, maintain or become a participating employer in any a defined contribution savings plan and a trust that satisfies the requirements of Sections 401(a) and 401(k) of the Code and that is designed to be tax exempt under Section 501 of the Code in which each Filtration Employee who participated in a Cummins Retirement Plan or and Savings Plan (each as defined in Exhibit A) immediately prior thereto shall be eligible to an Involuntary Termination prior toparticipate (the “Filtration Savings Plan”). Employer contributions under the Filtration Savings Plan shall be immediately fully vested. In addition, Filtration shall make any contributions and provide any additional benefits under the Filtration Savings Plan that are required to be provided pursuant to the terms of any applicable Collective Bargaining Agreement or pursuant to Section 2.4. As soon as practicable after the second anniversary ofadoption of the Filtration Savings Plan, Filtration shall submit an application to the IRS for a Change of Controldetermination that the Filtration Savings Plan is tax-qualified under Code Section 401(a) and that the related trust is exempt from federal income tax under Code Section 501(a) and shall take any actions and make any amendments necessary to receive such determination letter, unless such Filtration Savings Plan is based on a prototype plan document that has received a favorable IRS opinion letter or is a pooled employer plan which has received a favorable IRS determination letter. Except as otherwise provided in Section 3.3(b) below, the Executive will continue to accrue or be deemed to accrue benefits during the Compensation Period under such Cummins Retirement Plans and Savings Plans shall retain all Assets and Liabilities relating to the Cummins Retirement and Savings Plan accounts of each Filtration Employee and Former Filtration Service Provider, and the Parties shall not effectuate a transfer of Assets or Liabilities from the Cummins Retirement and Savings Plans to the Filtration Savings Plan. Filtration shall be responsible for purposes all Assets and Liabilities relating to the Filtration Savings Plan. (b) The active participation of benefit accrual each Filtration Employee or Former Filtration Service Provider who is a participant in a Cummins Retirement and employer matching contributionsSavings Plan shall cease effective upon the date on which such Filtration Employee or Former Filtration Service Provider is no longer employed by an “Employer” as defined under the terms of such Cummins Retirement and Savings Plan, as applicable, based including the date on which Filtration and its Subsidiaries cease to be part of the same formula controlled group as Cummins as determined under Code Section 414. Such Filtration Employee or Former Filtration Service Provider shall be entitled to elect a distribution of their vested Cummins Retirement and matching amount as in effect immediately prior Savings Plan account balances pursuant to such Terminationthe terms thereof. If Each Filtration Employee shall be permitted to roll over any “eligible rollover distribution” within the Executive will have attained age 50 at meaning of Code Section 402(c)(4) (but not including any in-kind distributions of Cummins or Filtration stock) from the end of applicable Cummins Retirement and Savings Plan to the Compensation Period with 10 years of service (including the Compensation Period), the Executive willFiltration Savings Plan, subject to the conditions of Paragraph 6, be deemed retired with the consent terms of the Company for the purposes of welfare and executive compensation plans but not for the purposes of any Retirement or Filtration Savings Plan. Notwithstanding any provision herein to the contrary, upon such a Termination pension benefits under any Retirement Plan based on "Average Final Compensation" will be calculated applying the rate of one year's Full Pay and the Executive's Annual Flexible Perquisite Allowance for each year in the Compensation Period. (iic) If Executive was participating Subject to Sections 2.4 and 2.7 and the terms of any applicable Collective Bargaining Agreement, nothing contained in this Agreement shall alter in any Retirement way the right of (1) Filtration subsequent to the Disposition Date, to amend or terminate the Filtration Savings Plan immediately prior to an Involuntary Termination during the two in accordance with its respective terms and applicable Law or (2) year period beginning on a Change of Control, the Executive will be deemed to accrue benefits during the Compensation Period under such Retirement Plans for purposes of benefit accrual based on the same formula as in effect immediately Cummins prior to such Termination. If the Executive will have attained age 50 at the end of the Compensation Period with 10 years of service (including the Compensation Period), the Executive will, subject or subsequent to the conditions of Paragraph 6Effective Time, be deemed retired to amend or terminate the Cummins Retirement and Savings Plans in accordance with the consent of the Company for the purposes of welfare terms thereof and executive compensation plans but not for the purposes of any Retirement. Notwithstanding any provision herein to the contrary, upon such a Termination pension benefits under any Retirement Plan based on "Average Final Compensation" will be calculated applying the rate of one year's Base Cash for each year in the Compensation Periodapplicable Law.

Retirement and Savings Plans. (ia) If Executive was Effective no later than the Plan Transition Date and subject to the terms of any applicable Collective Bargaining Agreement, Cummins shall cause a member of the Filtration Group to adopt, establish, maintain or become a participating employer in any a defined contribution savings plan and a trust that satisfies the requirements of Sections 401(a) and 401(k) of the Code and that is designed to be tax exempt under Section 501 of the Code in which each Filtration Employee who participated in a Cummins Retirement Plan or and Savings Plan (each as defined in Exhibit A) immediately prior thereto shall be eligible to an Involuntary Termination prior toparticipate (the “Filtration Savings Plan”). Employer contributions under the Filtration Savings Plan shall be immediately fully vested. In addition, Filtration shall make any contributions and provide any additional benefits under the Filtration Savings Plan that are required to be provided pursuant to the terms of any applicable Collective Bargaining Agreement or pursuant to Section 2.4. As soon as practicable after the second anniversary ofadoption of the Filtration Savings Plan, Filtration shall submit an application to the IRS for a Change of Controldetermination that the Filtration Savings Plan is tax-qualified under Code Section 401(a) and that the related trust is exempt from federal income tax under Code Section 501(a) and shall take any actions and make any amendments necessary to receive such determination letter, unless such Filtration Savings Plan is based on a prototype plan document that has received a favorable IRS opinion letter or is a pooled employer plan which has received a favorable IRS determination letter. Except as otherwise provided in Section 3.3(b) below, the Executive will continue to accrue or be deemed to accrue benefits during the Compensation Period under such Cummins Retirement Plans and Savings Plans shall retain all Assets and Liabilities relating to the Cummins Retirement and Savings Plan accounts of each Filtration Employee and Former Filtration Service Provider, and the Parties shall not effectuate a transfer of Assets or Liabilities from the Cummins Retirement and Savings Plans to the Filtration Savings Plan. Filtration shall be responsible for purposes all Assets and Liabilities relating to the Filtration Savings Plan. (b) The active participation of benefit accrual each Filtration Employee or Former Filtration Service Provider who is a participant in a Cummins Retirement and employer matching contributionsSavings Plan shall cease effective upon the date on which such Filtration Employee or Former Filtration Service Provider is no longer employed by an "Employer" as defined under the terms of such Cummins Retirement and Savings Plan, as applicable, based including the date on which Filtration and its Subsidiaries cease to be part of the same formula controlled group as Cummins as determined under Code Section 414. Such Filtration Employee or Former Filtration Service Provider shall be entitled to elect a distribution of their vested Cummins Retirement and matching amount as in effect immediately prior Savings Plan account balances pursuant to such Terminationthe terms thereof. If Each Filtration Employee shall be permitted to roll over any "eligible rollover distribution" within the Executive will have attained age 50 at meaning of Code Section 402(c)(4) (but not including any in-kind distributions of Cummins or Filtration stock) from the end of applicable Cummins Retirement and Savings Plan to the Compensation Period with 10 years of service (including the Compensation Period), the Executive willFiltration Savings Plan, subject to the conditions of Paragraph 6, be deemed retired with the consent terms of the Company for the purposes of welfare and executive compensation plans but not for the purposes of any Retirement or Filtration Savings Plan. Notwithstanding any provision herein to the contrary, upon such a Termination pension benefits under any Retirement Plan based on "Average Final Compensation" will be calculated applying the rate of one year's Full Pay and the Executive's Annual Flexible Perquisite Allowance for each year in the Compensation Period. (iic) If Executive was participating Subject to Sections 2.4 and 2.7 and the terms of any applicable Collective Bargaining Agreement, nothing contained in this Agreement shall alter in any Retirement way the right of (1) Filtration subsequent to the Disposition Date, to amend or terminate the Filtration Savings Plan immediately prior to an Involuntary Termination during the two in accordance with its respective terms and applicable Law or (2) year period beginning on a Change of Control, the Executive will be deemed to accrue benefits during the Compensation Period under such Retirement Plans for purposes of benefit accrual based on the same formula as in effect immediately Cummins prior to such Termination. If the Executive will have attained age 50 at the end of the Compensation Period with 10 years of service (including the Compensation Period), the Executive will, subject or subsequent to the conditions of Paragraph 6Effective Time, be deemed retired to amend or terminate the Cummins Retirement and Savings Plans in accordance with the consent of the Company for the purposes of welfare terms thereof and executive compensation plans but not for the purposes of any Retirement. Notwithstanding any provision herein to the contrary, upon such a Termination pension benefits under any Retirement Plan based on "Average Final Compensation" will be calculated applying the rate of one year's Base Cash for each year in the Compensation Periodapplicable Law.