Examples of Parent Retirement Plan in a sentence
For not less than the General Continuation Period, the SpinCo Retirement Plan, shall have substantially the same terms as of immediately prior to the Distribution Date as the Pre-Separation Parent Retirement Plan, with such changes, modifications or amendments to the SpinCo Retirement Plan as may be required by applicable Law or as are necessary and appropriate to reflect the Separation.
For purposes of crediting periods of service for eligibility and vesting, but not for benefit accrual purposes, under Parent's qualified defined benefit pension plan (the "Parent Retirement Plan"), employees of the Company who become participants in the Parent Retirement Plan after the Effective Time shall be given credit for service with the Company prior to the Effective Time.
As of the Distribution Date, SpinCo shall assume, pursuant to Section 2.03(b), the Pre-Separation Parent Retirement Plan and related trust thereunder (including all related Assets and Liabilities), as the SpinCo Retirement Plan and related Trust.
For purposes of vesting and the pension benefit calculation only, SpinCo Employees’ employment with SpinCo shall be considered employment with the Parent Group for purposes of the Parent Retirement Plan.
Not less frequently than twice per annum, SpinCo and Parent shall confer to determine whether any SpinCo Employees who are active participants in the Parent Retirement Plan have terminated employment with SpinCo.