Executive Plans. (a) Establishment of Resources Executive Plans. Effective as of the Distribution Date or such other date as REI and Resources may mutually agree, Resources shall establish the Resources Executive Plans which shall be substantially comparable to the REI Executive Plans. As of the Distribution Date, Resources shall assume all Liabilities to or relating to the Resources Employees under the REI Executive Plans, and REI shall transfer the split dollar life insurance policies under the Executive Life Insurance Plan attributable to such Resources Employees to Resources. As of the Distribution Date, REI shall assume all Liabilities to or relating to Resources Retired Employees under the REI Executive Plans. (b) Participation in Executive Plans. Effective as of the Distribution Date or such other date as Resources establishes the Resources Executive Plans, eligible Resources Employees determined in accordance with the terms of the applicable plans shall only be eligible to participate in the Resources Executive Plans.
Appears in 3 contracts
Sources: Employee Matters Agreement (Reliant Resources Inc), Employee Matters Agreement (Reliant Energy Resources Corp), Employee Matters Agreement (Reliant Resources Inc)