NRPS definition
Examples of NRPS in a sentence
The Parties acknowledge that, in connection with the transfer of NRPS Liabilities to the SplitCo Nonqualified Plans, the payment of Federal Insurance Contributions Act (“FICA”) Taxes attributable to SplitCo Employees may be required.
No assets shall be transferred from Medtronic to the SplitCo Group in connection with the transfer of liabilities under the CAP or NRPS.
Effective as of the Standup Date, the SplitCo Group shall assume all Liabilities and obligations with respect to SplitCo Employees (but not for Former SplitCo Employees) under the CAP and NRPS, and such Liabilities and obligations shall be transferred to and administered under the SplitCo Nonqualified Plans.
To the extent that any NRPS benefit or portion thereof must be converted to a present value in connection with the transfer to the SplitCo Nonqualified Plans, the present value shall be determined by Medtronic, in its sole discretion, in accordance with the terms of the applicable plan and in a manner consistent with past practice and applicable law.