Spinco Share Fund in Spinco Savings Plan. The Spinco Savings Plan will provide, effective as of the Effective Time: (i) for the establishment of a share fund for Spinco Shares (the “Spinco Share Fund”); (ii) that such Spinco Share Fund shall receive a transfer of and hold all Spinco Shares distributed in connection with the Distribution in respect of Parent Shares held in Parent Savings Plan accounts of Spinco Group Employees and Former Spinco Group Employees participating in the Spinco Savings Plan immediately prior to the Effective Time; and (iii) that, following the Effective Time, contributions made by or on behalf of such participants shall be allocated to the Spinco Share Fund, if so directed in accordance with the terms of the Spinco Savings Plan.
Appears in 4 contracts
Samples: Employee Matters Agreement (Howmet Aerospace Inc.), Employee Matters Agreement (Arconic Corp), Employee Matters Agreement (Arconic Rolled Products Corp)
Spinco Share Fund in Spinco Savings Plan. The Spinco SpinCo Savings Plan will provide, effective as of the Effective Time: (i) for the establishment of a share fund for Spinco SpinCo Shares (the “Spinco SpinCo Share Fund”); (ii) that such Spinco SpinCo Share Fund shall receive a transfer of and hold all Spinco SpinCo Shares distributed in connection with the Distribution in respect of Parent Rayonier Shares held in Parent Rayonier Savings Plan accounts of Spinco SpinCo Group Employees and Former Spinco SpinCo Group Employees participating in the Spinco Rayonier Savings Plan immediately prior to the Effective Time; and (iii) that, following the Effective Time, contributions made by or on behalf of such participants shall be allocated to the Spinco SpinCo Share Fund, if so directed in accordance with the terms of the Spinco SpinCo Savings Plan.
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.)
