Common use of SpinCo Obligations In Respect of Incentive Plans Clause in Contracts

SpinCo Obligations In Respect of Incentive Plans. The SpinCo Group shall maintain in effect the Hourly Incentive Plans and each Sales Commission Program until the first anniversary of the Effective Time; provided, however, SpinCo shall have the right to amend each such Hourly Incentive Plan and Sales Commission Program as necessary to reflect the changes resulting from the transactions contemplated by the Separation Agreement, including, without limitation, changes to the performance metrics under such plans and programs to use SpinCo performance metrics.

Appears in 4 contracts

Samples: Employee Matters Agreement (Sylvamo Corp), Employee Matters Agreement (Sylvamo Corp), Employee Matters Agreement (Sylvamo Corp)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!