Unfunded Deferred Compensation. (a) Subject to legal requirements for employee acquiescence, GenCorp's legal obligation to pay Unfunded Deferred Compensation for: (1) all active employees transferred to OMNOVA, (2) all retired employees who terminated employment from business locations of OMNOVA which are active as of the Closing Time, and (3) all GenCorp directors resigning to become members of the OMNOVA Board will be assumed by OMNOVA.
Appears in 3 contracts
Samples: Agreement on Employee Matters (Omnova Solutions Inc), Agreement on Employee Matters (Gencorp Inc), Agreement on Employee Matters (Omnova Solutions Inc)
Unfunded Deferred Compensation. (a) Subject to legal requirements for employee acquiescence, GenCorp's legal obligation to pay Unfunded Deferred Compensation for: (1) all active employees transferred to OMNOVAOmnova, (2) all retired employees who terminated employment from active business locations of OMNOVA which are active as of the Closing TimeOmnova, and (3) all GenCorp directors resigning to become members of the OMNOVA Omnova Board will be assumed by OMNOVAOmnova.
Appears in 1 contract
Samples: Agreement on Employee Matters (Omnova Solutions Inc)
