Parent ESPP. The administrator of the Parent ESPP shall take all actions necessary and appropriate to provide that (a) SpinCo Employees who participate in the Parent ESPP shall not be eligible to participate in any future Offering Periods that begin following the Local Transfer Date and (b) any cash remaining in the Parent ESPP account of any SpinCo Employee after the Local Transfer Date shall be refunded to such SpinCo Employee without interest as soon as administratively practicable.
Appears in 3 contracts
Sources: Employee Matters Agreement (Kyndryl Holdings, Inc.), Employee Matters Agreement (Kyndryl Holdings, Inc.), Employee Matters Agreement (Kyndryl Holdings, LLC)