Transfer of the Dover U.S. Pension Plan Assets. (A) The Parties intend that the portion of the Dover U.S. Pension Plan covering Xxxxxx USW Participants which represents benefits accrued under the Dover U.S. Pension Plan solely as a result of such Xxxxxx USW Participants’ participation in such plan pursuant to a collective bargaining agreement with the United Steelworkers of America covering employees of Dover’s Norris Division shall be transferred to the Apergy Pension Plan in accordance with Section 414(l) of the Code, Treasury Regulation Section 1.414(l)-1, and Section 208 of ERISA. It is intended that the transfers of Assets and Liabilities relating to the Xxxxxx USW Participants shall satisfy the de minimis rule of Treasury Regulations Section 414(l)-1(n)(2) and shall be deemed to comply with Section 414(l) of the Code so that no IRS Form 5310-A shall be filed with respect to such transfers.
Appears in 4 contracts
Samples: Employee Matters Agreement (DOVER Corp), Employee Matters Agreement (Apergy Corp), Employee Matters Agreement (Apergy Corp)
