Nonqualified Plan Participation; Distributions. The Parties acknowledge that none of the transactions contemplated by this Agreement, the Separation and Distribution Agreement, or any other Ancillary Agreement will trigger a payment or distribution of compensation under any of the Xxxxxxx Controls Nonqualified Plans or Adient Nonqualified Plans for any participant and, consequently, that the payment or distribution of any compensation to which such participant is entitled under any of the Xxxxxxx Controls Nonqualified Plans or Adient Nonqualified Plans will occur upon such participant’s separation from service from the Adient Group or at such other time as provided in the applicable Adient Nonqualified Plan or participant’s deferral election.
Nonqualified Plan Participation; Distributions. The Parties acknowledge that, except as provided below, none of the transactions contemplated by this Agreement, the Separation and Distribution Agreement, or any other Ancillary Agreement will trigger a payment or distribution of compensation under any of the Pentair Nonqualified Plans or nVent Nonqualified Plans for any participant and, consequently, that the payment or distribution of any compensation to which such participant is entitled under any of the Pentair Nonqualified Plans or nVent Nonqualified Plans will occur upon such participant’s separation from service from the nVent Group or at such other time as provided in the applicable nVent Nonqualified Plan or participant’s deferral election.
Nonqualified Plan Participation; Distributions. The Parties acknowledge that none of the transactions contemplated by this Agreement, the Distribution Agreement, or any other Ancillary Agreement shall trigger a payment or distribution of compensation under any of the Autoliv Nonqualified Plans or Veoneer Non-Qualified Retirement Plan for any participant and, consequently, that the payment or distribution of any compensation to which such participant is entitled under any of the Autoliv Nonqualified Plans or Veoneer Non-Qualified Retirement Plan shall occur upon such participant’s separation from service from the Veoneer Group or at such other time as provided in the applicable Veoneer Non-Qualified Retirement Plan or participant’s deferral election.
Nonqualified Plan Participation; Distributions. The Parties acknowledge that none of the transactions contemplated by this Agreement and the Merger Agreement will trigger a payment or distribution of compensation under any of the Supervalu Nonqualified Plans or Save-A-Lot Nonqualified Plans, or be considered a “separation from service” for purposes of Section 409A of the Code, for any participant who is a Save-A-Lot Group Employee or Former Save-A-Lot Group Employee and, consequently, that the payment or distribution of any compensation to which such participant is entitled under any of the Supervalu Nonqualified Plans or Save-A-Lot Nonqualified Plans will occur upon such participant’s separation from service from the Save-A-Lot Group or at such other time as provided in the applicable Save-A-Lot Nonqualified Plan or participant’s deferral election.
