Liability and Responsibility. The Liabilities in respect of Allegion Deferred Compensation Beneficiaries under the IR Deferred Compensation Plans shall be assumed by the member of the Allegion Group which sponsors the applicable Allegion Deferred Compensation Plan, effective as of the Effective Time. Allegion shall have sole responsibility for the administration of the Allegion Deferred Compensation Plans and the payment of benefits thereunder to or on behalf of Allegion Group Employees and Former Allegion Group Employees, and no member of the IR Group shall have any liability or responsibility therefor. IR shall have sole responsibility for the administration of the IR Deferred Compensation Plans and the payment of benefits thereunder to or on behalf of IR Group Employees and Former IR Group Employees, and no member of the Allegion Group shall have any liability or responsibility therefor.
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Samples: Employee Matters Agreement (Ingersoll-Rand PLC), Employee Matters Agreement (Allegion PLC)
Liability and Responsibility. The Liabilities in respect of Allegion Deferred Compensation Beneficiaries under the IR Deferred Compensation Plans shall be assumed by the member of the Allegion Group which sponsors the applicable Allegion Deferred Compensation Plan, effective as of the Effective Time. Allegion shall have sole responsibility for the administration of the Allegion Deferred Compensation Plans and the payment of benefits thereunder to or on behalf of Allegion Group Employees and Former Allegion Group Employees, and no member of the IR Group shall have any liability or responsibility therefor. IR shall have sole responsibility for the administration of the IR Deferred Compensation Plans and the payment of benefits thereunder to or on behalf of IR Group Employees and Former IR Group Employees, and no member of the Allegion Group shall have any liability or responsibility therefor. Article IX U.S. WELFARE PLANS Section 9.1.
Appears in 1 contract
Samples: Matters Agreement
Liability and Responsibility. The Liabilities in respect of Allegion Deferred Compensation Beneficiaries under the IR Deferred Compensation Plans shall be assumed by the member of the Allegion Group which sponsors the applicable Allegion Deferred Compensation Plan, effective as of the Effective Time. Allegion shall have sole responsibility for the administration of the Allegion Deferred Compensation Plans and the payment of benefits thereunder to or on behalf of Allegion Group Employees and Former Allegion Group Employees, and no member of the IR Group shall have any liability or responsibility therefor. IR shall have sole responsibility for the administration of the IR Deferred Compensation Plans and the payment of benefits thereunder to or on behalf of IR Group Employees and Former IR Group Employees, and no member of the Allegion Group shall have any liability or responsibility therefor.. Article IX U.S. WELFARE PLANS
Appears in 1 contract
