Transfer of Liabilities. Effective as of the Effective Time but subject to the Asset transfer specified in Section 5.01(b) above, the SpinCo 401(k) Plan shall assume and be solely responsible for all the Liabilities for or relating to SpinCo Group Employees or Former SpinCo Group Employees under the Parent 401(k) Plan. SpinCo shall be responsible for all ongoing rights of or relating to SpinCo Group Employees for future participation (including the right to make payroll deductions) in the SpinCo 401(k) Plan.
Appears in 5 contracts
Samples: Employee Matters Agreement (Consensus Cloud Solutions, Inc.), Employee Matters Agreement (Consensus Cloud Solutions, Inc.), Employee Matters Agreement (Frontdoor, Inc.)
Transfer of Liabilities. Effective as of the Effective Time but subject to the Asset transfer specified in Section 5.01(b) above), the SpinCo 401(k) Plan shall assume and be solely responsible for all the Liabilities for or relating to SpinCo Group Employees or Former SpinCo Group Employees who are not on leave due to extended short-term disability under the Parent 401(k) Plan. SpinCo and the SpinCo 401(k) Plan shall be responsible for all ongoing rights of or relating to SpinCo Group Employees for future participation (including the right to make payroll deductions) in the SpinCo 401(k) Plan.
Appears in 4 contracts
Samples: Employee Matters Agreement (EQT Corp), Employee Matters Agreement (Equitrans Midstream Corp), Employee Matters Agreement (Equitrans Midstream Corp)
Transfer of Liabilities. Effective as of the Effective Time or if earlier, the date of transfer under Section 5.03(b) but subject to the Asset transfer specified in Section 5.01(b5.03(b) aboveabove and retirement contribution described in Section 5.03(d), the SpinCo 401(k) Plan shall assume and be solely responsible for all the Liabilities for or relating to SpinCo Group Employees or Former SpinCo Group Employees under the Parent 401(k) Plan. SpinCo shall be responsible for all ongoing rights of or relating to SpinCo Group Employees for future participation (including the right to make payroll deductions) in the SpinCo 401(k) Plan.
Appears in 3 contracts
Samples: Employee Matters Agreement (Mdu Resources Group Inc), Employee Matters Agreement (Knife River Holding Co), Employee Matters Agreement (Knife River Holding Co)
Transfer of Liabilities. Effective as of the Effective Time but subject to the Asset transfer specified in Section 5.01(b5.03(b) above, the each SpinCo 401(k) Plan shall assume and be solely responsible for all the Liabilities for or relating to SpinCo Group Employees or Former SpinCo Group Employees under the corresponding Parent 401(k) Plan. SpinCo shall be responsible for all ongoing rights of or relating to SpinCo Group Employees for future participation (including the right to make payroll deductions) in the each SpinCo 401(k) Plan.
Appears in 2 contracts
Samples: Employee Matters Agreement (XPO Logistics, Inc.), Employee Matters Agreement (GXO Logistics, Inc.)
Transfer of Liabilities. Effective as of the Effective Time but subject to the Asset transfer specified in Section 5.01(b5.02(b) above, the each SpinCo 401(k) Plan shall assume and be solely responsible for all the Liabilities for or relating to SpinCo Group Employees or Former SpinCo Group Employees under the corresponding Parent 401(k) Plan. SpinCo shall be responsible for all ongoing rights of or relating to SpinCo Group Employees for future participation (including the right to make payroll deductions) in the each SpinCo 401(k) Plan.
Appears in 2 contracts
Samples: Employee Matters Agreement (RXO, Inc.), Employee Matters Agreement (Rxo, LLC)
Transfer of Liabilities. Effective as of the Effective Time but subject to the Asset transfer specified in Section 5.01(b5.02(b) above, the SpinCo 401(k) Plan shall assume and be solely responsible for all the Liabilities for or relating to SpinCo Group Employees or Former SpinCo Group Employees under the Parent 401(k) Plan. SpinCo shall be responsible for all ongoing rights of or relating to SpinCo Group Employees for future participation (including the right to make payroll deductions) in the SpinCo 401(k) Plan.
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Transfer of Liabilities. Effective as of the Effective Time but subject to the Asset transfer specified in Section 5.01(b) above, the SpinCo 401(k) Plan shall assume and be solely responsible for all the Liabilities for or relating to SpinCo Group Employees or Former SpinCo Group Employees under the Parent 401(k) Plan. SpinCo shall be responsible for all ongoing rights of or relating to SpinCo Group Employees for future participation (including the right to make payroll deductions) in the SpinCo 401(k) Plan.
Appears in 1 contract
