Employees Payment Clause Samples
Employees Payment. The Buyer shall procure that ▇▇▇▇▇▇ KG (i) will pay the Employees Payment (excluding any wage tax or social security contributions, if any) to ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇▇▇▇ and each employee of ▇▇▇▇▇▇ KG and ▇▇▇▇▇▇ Corporation as set out in Exhibit 5.2.1 on the Closing Date or as soon as possible after Closing, but at the latest within five Business Days after Closing (ii) will not claim the refund of the Employees Payment from the Sellers, once it has received the Employees Payment in accordance with Clause 5.2.2, (iii) will not claim the refund of any Tax (as defined in Exhibit 10 Section 1.1) in relation to the bonus payments to ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇▇▇▇ and to each employee of ▇▇▇▇▇▇ KG and ▇▇▇▇▇▇ Corporation as set out in Exhibit 5.2.1 if such Tax does not exceed an amount of EUR 20,000.00 and (iv) in the event such Tax exceeds the amount of EUR 20,000.00 will only claim the amount exceeding the amount of EUR 20,000.00.
Employees Payment. The Managing Agent undertakes to pay on behalf of the Community Scheme, the salaries, wages, PAYE, UIF and Workmen’s Compensation in respect of any employees. It is expressly agreed that the employees are employed by the Community Scheme and not by the Managing Agent. Any disputes, which may arise between the Community Scheme and any of its employees in terms of any legislation, shall not involve the Managing Agent, who cannot be cited as the employer of any of the said employees, and is therefore not to be held liable or responsible. The Managing Agent is not responsible for the control or keeping of Community Scheme employees’ leave/leave of absence/sick leave records which must be kept and controlled by the Scheme Executives on behalf of the Community Scheme.