Common use of Cash Incentive Programs Clause in Contracts

Cash Incentive Programs. For any Holcim cash incentive or sales commission performance period that has not concluded as of the date on which the employment of the applicable SpinCo Group Employees is transferred to SpinCo (the “Open Incentive Obligations”), SpinCo shall provide that each applicable SpinCo Group Employee shall continue to be eligible to receive a cash incentive bonus or sales commission payment in accordance with the same terms and conditions as applied to such SpinCo Group Employee under the corresponding Holcim incentive or sales commission program as in effect immediately prior to the date of such transfer, as equitably adjusted (if applicable) by the Compensation Committee of the Holcim Board of Directors or the Compensation Committee of the SpinCo Board of Directors, as applicable, to the extent necessary to reflect the transactions contemplated by the Separation Agreement; provided that in no event shall the aggregate incentive amounts paid to the applicable SpinCo Group Employees in respect of such applicable period be less than the Accrued Incentive Amount. Notwithstanding any provision of this Agreement or the Separation Agreement to the contrary, (i) Holcim shall not transfer assets in respect of the Accrued Incentive Amount or the Open Incentive Obligations and (ii) effective as of the date on which the employment of the applicable SpinCo Group Employees is transferred to SpinCo, SpinCo shall assume all Liabilities and obligations in respect of the Accrued Incentive Amount and the Open Incentive Obligations.