Examples of Predecessor Plan in a sentence
If the Employee was a participant in the Predecessor Plan, the Employee’s Participation Date shall be the Effective Date.
Additionally, with respect to any liabilities transferred from the Predecessor Plan to this Plan, each Transferred Solventum Employee’s respective elections regarding the time and form of payment for such liabilities shall also be carried over to the Plan.
However, following the Effective Date, no additional grants shall be made pursuant to the Predecessor Plan, and the Predecessor Plan will terminate on the date upon which no Outstanding Options remain outstanding.
Any election made by a Transferred Solventum Employee to contribute to the Predecessor Plan for the 2024 Plan Year shall also apply to his or her Eligible Compensation under this Plan following his or her Participation Date and during the remainder of the 2024 Plan Year.
Subject to any required approvals of the TSXV and compliance with applicable securities laws, all Existing Awards granted under the Predecessor Plan shall, from and after the Effective Date, be subject to and governed by the terms of the Plan.