Common use of U.S. Savings Plans Clause in Contracts

U.S. Savings Plans. (a) (i) Effective as of the Distribution Date, Xxxxxxx shall cause a member of the Veralto Group to have in effect one or more defined contribution savings plans and related trusts that satisfy the requirements of Sections 401(a) and 401(k) of the Code in which each Veralto Employee who participated in a Xxxxxxx U.S. Savings Plan immediately prior thereto shall be eligible to participate (the “Veralto U.S. Savings Plans”), with terms that are substantially similar to those provided by the applicable Xxxxxxx U.S. Savings Plan immediately prior to the date on which such Veralto U.S. Savings Plans become effective (other than the ability to make additional investments in an investment fund invested primarily in Xxxxxxx Common Stock), (ii) the participation of each Veralto Employee who is a participant in a Xxxxxxx U.S. Savings Plan shall automatically cease effective upon the date on which the Veralto U.S. Savings Plans become effective, (iii) as soon as practicable after the Veralto U.S. Savings Plans become effective, Xxxxxxx shall cause the accounts (including any outstanding participant loan balances) in the Xxxxxxx U.S. Savings Plans attributable to Veralto Employees and all of the Assets in the Xxxxxxx U.S. Savings Plans related thereto to be transferred in-kind to the applicable Veralto U.S. Savings Plan and (iv) effective as of the Distribution Date, the Veralto U.S. Savings Plans (including all applicable accounts and underlying Assets) shall be transferred to Veralto and Veralto shall thereafter fully pay, perform and discharge, all obligations thereunder.

U.S. Savings Plans. (a) (i) Effective as of no later than the Distribution Plan Transition Date, Xxxxxxx Fortive shall cause a member of the Veralto Vontier Group to have in effect one or more defined contribution savings plans and related trusts that satisfy the requirements of Sections 401(a) and 401(k) of the Code in which each Veralto Vontier Employee who participated in a Xxxxxxx U.S. the Fortive Retirement Savings Plan immediately prior thereto shall be eligible to participate (the “Veralto Vontier U.S. Savings Plans”), with terms that are substantially similar to those provided by the applicable Xxxxxxx U.S. Fortive Retirement Savings Plan immediately prior to the date on which such Veralto Vontier U.S. Savings Plans become effective (other than the ability to make additional investments in an investment fund invested primarily in Xxxxxxx Fortive Common Stock), (ii) the participation of each Veralto Vontier Employee who is a participant in a Xxxxxxx U.S. the Fortive Retirement Savings Plan shall automatically cease effective upon the date on which the Veralto Vontier U.S. Savings Plans become effective, (iii) as soon as practicable after the Veralto Vontier U.S. Savings Plans become effective, Xxxxxxx Fortive shall cause the accounts (including any outstanding participant loan balances) in the Xxxxxxx U.S. Fortive Retirement Savings Plans Plan attributable to Veralto Vontier Employees and all of the Assets in the Xxxxxxx U.S. Fortive Retirement Savings Plans Plan related thereto to be transferred in-kind to the applicable Veralto Vontier U.S. Savings Plan and (iv) effective as of the Distribution Plan Transition Date, the Veralto Vontier U.S. Savings Plans (including all applicable accounts and underlying Assets) shall be transferred to Veralto Vontier and Veralto Vontier shall thereafter fully pay, perform and discharge, all obligations thereunder.

U.S. Savings Plans. (a) (i) Effective as of no later than the Distribution DateEffective Time, Xxxxxxx shall cause a member of the Veralto Fortive Group to have in effect one or more defined contribution savings plans and related trusts that satisfy the requirements of Sections 401(a) and 401(k) of the Code in which each Veralto Fortive Employee who participated in a Xxxxxxx U.S. Savings Plan immediately prior thereto shall be eligible to participate (the “Veralto Fortive U.S. Savings Plans”), with terms that are substantially similar to those provided by the applicable Xxxxxxx U.S. Savings Plan immediately prior to the date on which such Veralto Fortive U.S. Savings Plans become effective (other than the ability to make additional investments in an investment fund invested primarily in Xxxxxxx Common Stock), (ii) the participation of each Veralto Fortive Employee who is a participant in a Xxxxxxx U.S. Savings Plan shall automatically cease effective upon the date on which the Veralto Fortive U.S. Savings Plans become effective, (iii) as soon as practicable after the Veralto Fortive U.S. Savings Plans become effective, Xxxxxxx shall cause the accounts (including any outstanding participant loan balances) in the Xxxxxxx U.S. Savings Plans attributable to Veralto Fortive Employees and all of the Assets in the Xxxxxxx U.S. Savings Plans related thereto to be transferred in-kind to the applicable Veralto Fortive U.S. Savings Plan and (iv) effective as of the Distribution DateEffective Time, the Veralto Fortive U.S. Savings Plans (including all applicable accounts and underlying Assets) shall be transferred to Veralto Fortive and Veralto Fortive shall thereafter fully pay, perform and discharge, all obligations thereunder.

U.S. Savings Plans. (a) (i) Effective as of no later than the Distribution DateSeparation Effective Time, Xxxxxxx Everest shall cause a member of the Veralto Newco Group to have in effect one or more defined contribution savings plans and related trusts that satisfy the requirements of Sections 401(a) and 401(k) of the Code in which each Veralto Newco Employee who participated in a Xxxxxxx an Everest U.S. Savings Plan immediately prior thereto shall be eligible to participate (the “Veralto Newco U.S. Savings PlansPlan”), with terms that are substantially similar to those provided by the applicable Xxxxxxx U.S. Everest Savings Plan and ESOP immediately prior to the date on which such Veralto Newco U.S. Savings Plans become Plan becomes effective (other than the ability to make additional investments in an investment fund invested primarily in Xxxxxxx Everest Common Stock)) and which also provides for a 3% nonelective contribution, (ii) the participation of each Veralto Newco Employee who is a participant in a Xxxxxxx an Everest U.S. Savings Plan shall automatically cease effective upon the date on which the Veralto Newco U.S. Savings Plans become Plan becomes effective, (iii) as soon as practicable after the Veralto Newco U.S. Savings Plans become Plan becomes effective, Xxxxxxx Everest shall cause the accounts (including any outstanding participant loan balances) in the Xxxxxxx Everest U.S. Savings Plans attributable to Veralto such Newco Employees and all of the Assets in the Xxxxxxx Everest U.S. Savings Plans related thereto to be transferred in-kind to the applicable Veralto Newco U.S. Savings Plan Plan, provided that Athena shall have the right to participate in any administrative procedures related to such transfer, and any required adjustments or true-ups related to such transfer shall be made by Everest and its Subsidiaries or Athena or a member of the Newco Group to be mutually agreed as promptly as possible following the Closing Date, and (iv) effective as of the Distribution DateSeparation Effective Time, Everest shall cause the Veralto Newco U.S. Savings Plans Plan (including all applicable accounts and underlying Assets) shall to be transferred to Veralto Newco and Veralto Newco shall thereafter fully pay, perform and discharge, all obligations thereunder.

U.S. Savings Plans. (a) (i) Effective as of no later than the Distribution Plan Transition Date, Xxxxxxx shall cause a member of the Veralto Envista Group to have in effect one or more defined contribution savings plans and related trusts that satisfy the requirements of Sections 401(a) and 401(k) of the Code in which each Veralto Envista Employee who participated in a Xxxxxxx U.S. Savings Plan immediately prior thereto shall be eligible to participate (the “Veralto Envista U.S. Savings Plans”), with terms that are substantially similar to those provided by the applicable Xxxxxxx U.S. Savings Plan immediately prior to the date on which such Veralto Envista U.S. Savings Plans become effective (other than the ability to make additional investments in an investment fund invested primarily in Xxxxxxx Common Stock), (ii) the participation of each Veralto Envista Employee who is a participant in a Xxxxxxx U.S. Savings Plan shall automatically cease effective upon the date on which the Veralto Envista U.S. Savings Plans become effective, (iii) as soon as practicable after the Veralto Envista U.S. Savings Plans become effective, Xxxxxxx shall cause the accounts (including any outstanding participant loan balances) in the Xxxxxxx U.S. Savings Plans attributable to Veralto Envista Employees and all of the Assets in the Xxxxxxx U.S. Savings Plans related thereto to be transferred in-kind to the applicable Veralto Envista U.S. Savings Plan and (iv) effective as of the Distribution Plan Transition Date, the Veralto Envista U.S. Savings Plans (including all applicable accounts and underlying Assets) shall be transferred to Veralto Envista and Veralto Envista shall thereafter fully pay, perform and discharge, all obligations thereunder.

U.S. Savings Plans. (a) (i) Effective as of no later than the Distribution DateEffective Time, Xxxxxxx Parent shall cause a member of the Veralto SpinCo Group to have in effect one or more defined contribution savings plans and related trusts that satisfy the requirements of Sections 401(a) and 401(k) of the Code in which each Veralto SpinCo Employee who participated in a Xxxxxxx Parent U.S. Savings Plan immediately prior thereto shall be eligible to participate (the “Veralto SpinCo U.S. Savings Plans”), with terms that are substantially similar to those provided by the applicable Xxxxxxx Parent U.S. Savings Plan immediately prior to the date on which such Veralto SpinCo U.S. Savings Plans become effective (other than the ability to make additional investments in an investment fund invested primarily in Xxxxxxx Parent Common Stock), (ii) the participation of each Veralto SpinCo Employee who is a participant in a Xxxxxxx Parent U.S. Savings Plan shall automatically cease effective upon the date on which the Veralto SpinCo U.S. Savings Plans become effective, (iii) as soon as practicable after the Veralto SpinCo U.S. Savings Plans become effective, Xxxxxxx Parent shall cause the accounts (including any outstanding participant loan balances) in the Xxxxxxx Parent U.S. Savings Plans attributable to Veralto SpinCo Employees and all of the Assets in the Xxxxxxx Parent U.S. Savings Plans related thereto to be transferred in-kind to the applicable Veralto SpinCo U.S. Savings Plan and (iv) effective as of the Distribution DateEffective Time, the Veralto SpinCo U.S. Savings Plans (including all applicable accounts and underlying Assets) shall be transferred to Veralto SpinCo and Veralto SpinCo shall thereafter fully pay, perform and discharge, all obligations thereunder.