Transfer of Account Balances. No later than the Effective Time, Xxxxxxx Controls shall cause the trustee of the Xxxxxxx Controls U.S. Savings Plan to transfer from Xxxxxxx Controls U.S. Savings Plan Trust to the Adient U.S. Savings Plan Trust the account balances of the Adient Group Employees under the Xxxxxxx Controls U.S. Savings Plan, determined as of the date of the transfer. Such transfers shall be made in kind, including promissory notes evidencing the transfer of outstanding loans, and, with respect to unitized investments in the stock fund for Xxxxxxx Controls Shares (the “Xxxxxxx Controls Share Fund”), Xxxxxxx Controls Shares. Any Asset and Liability transfers pursuant to this Section 5.03(b) shall comply in all respects with Sections 414(l) and 411(d)(6) of the Code.
Appears in 5 contracts
Samples: Employee Matters Agreement, Employee Matters Agreement, Employee Matters Agreement (Adient LTD)
