Common use of Nonqualified Retirement Plans Clause in Contracts

Nonqualified Retirement Plans. Effective as of the Distribution Date, UNOVA shall assume, and shall indemnify the Western Atlas Indemnitees from and against, all Liabilities with respect to (i) the Supplemental Retirement Agreement between Western Atlas Inc. and Xxxxx X. Xxxxx (dated March 17, 1994) and all participants under the Western Atlas Inc. Restoration Plan, (ii) UNOVA Participants and UNOVA Former Employees under the Western Atlas Inc. Supplemental Executive Retirement Plan and (iii) UNOVA-only Directors under the Western Atlas Inc. Deferred Compensation Plan for Directors. UNOVA represents that it has established plans on substantially the same terms as the Western Atlas Nonqualified Plans pursuant to which each participant for whom UNOVA has assumed Liabilities will be credited with the term of service credited to such participant as of the Distribution Date under the Western Atlas Nonqualified Plans, as if such service had been rendered to UNOVA.

Nonqualified Retirement Plans. Effective as of the Distribution Date, UNOVA shall assume, and shall indemnify the Western Atlas Indemnitees from and against, all Liabilities with respect to (i) the Supplemental Retirement Agreement between Western Atlas Inc. and Xxxxx X. Xxxxx (dated March 17, 1994) and all participants under the Western Atlas Inc. Restoration Plan, (ii) UNOVA Participants and UNOVA Former Employees under the Western Atlas Inc. Supplemental Executive Retirement Plan and (iii) UNOVA-only Directors under the Western Atlas Inc. Deferred Compensation Plan for Directors. UNOVA represents that it has established plans on substantially the same terms as the Western Atlas Nonqualified Plans pursuant to which each participant for whom UNOVA has assumed Liabilities will be credited with the term of service credited to such participant as of the Distribution Date under the Western Atlas Nonqualified Plans, as if such service had been rendered to UNOVA.