RemainCo Sales Executives Plan; SpinCo Sales Executives Plan. (a) Establishment of the SpinCo Sales Executives Plan. Effective as of the Distribution Date, SpinCo shall, or shall have caused one or more members of the SpinCo Group to, establish a defined contribution plan and related trust for the benefit of SpinCo Participants who immediately prior to the Distribution Date were participants in, or entitled to present or future benefits under, the RemainCo Sales Executives Plan (such defined contribution plan, the “SpinCo Sales Executives Plan” and such SpinCo Participants, the “SpinCo Sales Executives Plan Participants”). SpinCo shall be responsible for taking all necessary, reasonable and appropriate action to establish, maintain and administer the SpinCo Sales Executives Plan so that it is qualified under Section 401(a) of the Code and that the related trust thereunder is exempt under Section 501(a) of the Code. SpinCo (acting directly or through one or more members of the SpinCo Group) shall be responsible for any and all liabilities and other obligations with respect to the SpinCo Sales Executives Plan.
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Samples: Employee Matters Agreement (Batesville Holdings, Inc.), Employee Matters Agreement (Hill-Rom Holdings, Inc.), Employee Matters Agreement (Batesville Holdings, Inc.)
