Abbott Group definition
Examples of Abbott Group in a sentence
If an Abbott Affiliate ceases to be a member of the Abbott Group as a result of a sale or exchange of all of the stock of such member, other than an exchange for which the consideration received by Abbott is the stock of Abbott or an Abbott Affiliate, the departing Abbott Affiliate shall be released from its obligations under this Agreement upon its departure from the Abbott Group.
In accordance with Section 2.1(a)(i) of this Agreement, effective as of the Transfer Date, Hospira shall assume all Liabilities of the Abbott Group with respect to accrued vacation or leaves of absence, and required payments related thereto, for each Transferred Employee.
The new forms shall acknowledge that continued employment with the Hospira Group shall have the same effect as continued employment with the Abbott Group with respect to the determination of the settlement date under those trusts.
As of the Distribution Date, each Non-U.S. Transferred Employee (other than a Post-Distribution Transferred Employee or Hospira Requested Employee) who participates in the Abbott ESPP shall cease participation in the Abbott ESPP and shall have his or her payroll deductions refunded by the Abbott Group as soon as administratively practicable in accordance with the terms of the Abbott ESPP.
For purposes of clarification, no reference to benefits or Benefit Plan contained in this Agreement shall include or affect the benefits and services provided to employees or retirees of the Abbott Group by the ▇▇▇▇▇ ▇▇▇▇▇▇ Foundation.
The employees of the Hospira Business are currently employed by the Abbott Group (as defined herein).
With respect to any Transferred Employee who makes an election pursuant to (ii) above, subsequent termination of employment from the Hospira Group shall have the same effect under the Abbott DCP as a termination of employment from the Abbott Group.
Abbott and Hospira acknowledge that the Abbott Group, on the one hand, and the Hospira Group, on the other hand, may incur costs and expenses (including, without limitation, contributions to Benefit Plans and the payment of insurance premiums) which are, as set forth in this Agreement, the responsibility of the other party.
Abbott shall not be responsible or otherwise liable for the provision of post-retirement healthcare and life insurance coverage to any U.S. Transferred Employees other than as expressly provided in this Section 6.2. Only service and compensation with the Abbott Group prior to the Distribution Date shall be taken into account for all purposes of the Abbott Retiree Health Plan and the Abbott Retiree Life Plan, including, but not limited to, for purposes of determining contribution levels.
Nothing in this Agreement, whether express or implied, confers upon any employee of the Abbott Group, the Hospira Group, TAP, any Employee, any beneficiary of an Employee, any former employee of the Abbott Group or TAP or any other person, any rights or remedies, including, but not limited to any right to (a) employment or recall; (b) continued employment or continued service for any specified period; or (c) claim any particular compensation, benefit or aggregation of benefits, of any kind or nature.