Active Employee Balances Clause Samples

Active Employee Balances. (a) For each applicable country, other than Ireland, Italy and the United Kingdom: (i) The accounts of all HPI Employees under the Non-US DC Plans as of the Operational Separation Date will be retained by, or transferred to, as applicable, the HP Non-US DC Plan. HP shall cause the HP Non-US DC Plan to retain or assume, as applicable, all Assets and Liabilities (including any outstanding loans) for defined contribution account balances relating to HPI Employees whose accounts are retained by, or transferred to, as applicable, the HP Non-US DC Plan. For any HPI Employees who participated in an Enterprise Non-US DC Plan for which Assets are held by Enterprise or an Enterprise Entity, effective as of the Operational Separation Date, Enterprise has caused the Assets and Liabilities (including any outstanding loans) under the Enterprise Non-US DC Plan attributable to such HPI Employees to be transferred to the HP Non-US DC Plan. (ii) The accounts of all Enterprise Employees under the Non-US DC Plans as of the Operational Separation Date will be retained by, or transferred to, as applicable, the Enterprise Non-US DC Plan. Enterprise shall cause the Enterprise Non-US DC Plan to retain or assume, as applicable, all Assets and Liabilities (including any outstanding loans) for defined contribution account balances relating to Enterprise Employees whose accounts are retained by, or transferred to, as applicable, the Enterprise Non-US DC Plan. For any Enterprise Employees who participated in an HP Non-US DC Plan for which Assets are held by HP or an HPI Entity, effective as of the Operational Separation Date, HP has caused the Assets and Liabilities (including any outstanding loans) under the HP Non-US DC Plan attributable to such Enterprise Employees to be transferred to the Enterprise Non-US DC Plan. (b) For each of Italy and the United Kingdom: (i) The accounts of all HPI Employees under the HP Non-US DC Plan for such country as of the Operational Separation Date will be retained by the HP Non-US DC Plan. HP shall cause the HP Non-US DC Plan to retain all Assets and Liabilities (including any outstanding loans) for defined contribution account balances relating to such HPI Employees whose accounts are retained by the HP Non-US DC Plan. (ii) Any accounts of HPI Employees under the Enterprise Non-US DC Plan as of the Operational Separation Date will be retained by such Enterprise Non-US DC Plan unless and until the HPI Employee elects, in accordance with local law and...