Treatment of UK Share Plan. Effective as of the Distribution, SpinCo Employees shall cease actively participating in the Honeywell Share Builder Plan (the “UK Share Purchase Plan”) and shall no longer be entitled to make any additional contributions to such UK Share Purchase Plan to purchase Honeywell Common Stock, or to receive any “Matching Shares” as defined in the UK Share Purchase Plan. The Parties expect that SpinCo shall establish a similar plan to the UK Share Purchase Plan for the benefit of SpinCo Employees in the United Kingdom effective as of the Distribution.
Appears in 5 contracts
Samples: Employee Matters Agreement (Resideo Technologies, Inc.), Employee Matters Agreement (Resideo Technologies, Inc.), Employee Matters Agreement (Resideo Technologies, Inc.)
Treatment of UK Share Plan. Effective as of the Distribution, SpinCo Employees shall cease actively participating in the Honeywell Share Builder Plan (the “UK Share Purchase Plan”) and shall no longer be entitled to make any additional contributions to such UK Share Purchase Plan to purchase Honeywell Common Stock, or to receive any “Matching Shares” as defined in the UK Share Purchase Plan. The Parties expect that SpinCo shall establish a similar plan to the UK Share Purchase Plan for the benefit of SpinCo Employees in the United Kingdom effective as of the Distribution.
Appears in 4 contracts
Samples: Employee Matters Agreement (Garrett Motion Inc.), Employee Matters Agreement (Garrett Motion Inc.), Employee Matters Agreement (Garrett Transportation Systems Inc.)
