Common use of Retiree Programs Clause in Contracts

Retiree Programs. No member of the Versum Group shall assume any Liability with respect to any Retiree Programs. Following the Plan Transition Date, no Versum Employee shall accrue any additional benefits under the Retiree Programs. Air Products shall provide or cause to be provided to each Versum Employee (and his or her eligible dependents) who was eligible to retire on or immediately prior to the Plan Transition Date and, upon such retirement, would have satisfied the eligibility requirements for retiree welfare coverage set forth in the applicable Retiree Program, with retiree welfare benefits and coverage following such Versum Employee’s retirement from Versum Group, with such benefits to be provided under the Retiree Program that was applicable to such Versum Employee immediately prior to the Plan Transition Date, as such applicable Retiree Program may be amended from time to time following the Plan Transition Date as if such Versum Employee had remained employed with Air Products through the applicable retirement date. The provisions of this Section 9.1 shall not be construed to require any member of the Air Products Group to maintain a Retiree Program or to prevent the amendment in any manner of any Retiree Program. The participation by any Versum Employee in a Retiree Program shall be subject to such right of amendment or termination.