Common use of FTO Clause in Contracts

FTO. Effective as of the Payroll Date, Agilent shall establish the --- Agilent FTO policy which is substantially identical in all Material Features to the HP FTO policy. Effective as soon as administratively practicable after the Payroll Date, HP shall transfer to Agilent all data and information relating to the HP FTO policy. Effective as soon as administratively practicable following the Payroll Date (or such other date as HP and Agilent may mutually agree), Agilent shall assume all Liabilities attributable to Agilent Employees under the HP FTO policy. In the event that an HP Employee or Agilent Employee transfers his or her employment to the other party before the Distribution Date, such transfer of employment shall not result in a payout or constitute a termination event for purposes of the FTO policy, and no duplication of benefits shall occur as a result of any such transfer of employment between HP and Agilent. Furthermore, the Liability attributable to any Agilent Employee or HP Employee who transfers employment between HP and Agilent prior to the Distribution Date shall be assumed by the employer subsequent to the transfer.

FTO. Effective as of the Payroll Date, Agilent shall establish --- the --- Agilent FTO policy which is substantially identical in all Material Features to the HP FTO policy. Effective as soon as administratively practicable after the Payroll Date, HP shall transfer to Agilent all data and information relating to the HP FTO policy. Effective as soon as administratively practicable following the Payroll Date (or such other date as HP and Agilent may mutually agree), Agilent shall assume all Liabilities attributable to Agilent Employees under the HP FTO policy. In the event that an HP Employee or Agilent Employee transfers his or her employment to the other party before the Distribution Date, such transfer of employment shall not result in a payout or constitute a termination event for purposes of the FTO policy, and no duplication of benefits shall occur as a result of any such transfer of employment between HP and Agilent. Furthermore, the Liability attributable to any Agilent Employee or HP Employee who transfers employment between HP and Agilent prior to the Distribution Date shall be assumed by the employer subsequent to the transfer.