Employee-Related Services. Seller shall (i) process payroll for the Employees and (ii) maintain, administer and perform all obligations arising under, as applicable, Seller’s benefit plans, insurance policies, collective bargaining agreements and other contracts set forth on Schedule 1(a)(ii) (collectively, the “Transition Contracts”) for the benefit of the Employees and the orderly transition of the Business to Buyer.
Employee-Related Services. In addition to the human resources advisory services described in Section 1(A)(ii) above, ECT will do the following:
Employee-Related Services. The Company has not provided to any employee or ex-employee or prospective employee of the Company, nor to any officer or ex-officer or prospective officer of the Company, nor to any person who is an “associated person” for the purposes of s.421C ITEPA:
Employee-Related Services. For the six months ended December 31, 2009, Fifth Third Bank provided employee related services, which included benefits administration services, compensation management services, incentive compensation administration, and training, learning and development services for our personnel. Furthermore, included within these services was an employment arrangement under which employees associated with the electronic payment processing business remained employees of Fifth Third Bank and were allocated back to us. This arrangement extended through December 31, 2009, at which point such employees were terminated by Fifth Third Bank and immediately hired by us. Costs for these services for the six month period ended December 31, 2009 were $50.7 million.
