Transfer of Accruals. As soon as practicable following the Distribution, KAR shall transfer to SpinCo the applicable KAR Benefit Plan accruals in respect of SpinCo Group Employees and Former SpinCo Group Employees for the portion of the 2019 performance period that occurs prior to the Distribution, based on the level of accrual as of the Effective Time.
Appears in 4 contracts
Samples: Employee Matters Agreement (IAA, Inc.), Employee Matters Agreement (KAR Auction Services, Inc.), Employee Matters Agreement (IAA Spinco Inc.)
