RemainCo Savings Plan; SpinCo Savings Plan. (a) Establishment of the SpinCo Savings 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 Savings Plan (such defined contribution plan, the “SpinCo Savings Plan” and such SpinCo Participants, the “SpinCo Savings Plan Participants”). SpinCo shall be responsible for taking all necessary, reasonable and appropriate action to establish, maintain and administer the SpinCo Savings 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 Savings Plan.
Appears in 4 contracts
Samples: Employee Matters Agreement (Hillenbrand, Inc.), Employee Matters Agreement (Hill-Rom Holdings, Inc.), Employee Matters Agreement (Batesville Holdings, Inc.)
