Common use of Income Reporting, Withholding Clause in Contracts

Income Reporting, Withholding. Pfizer and the Company shall, to the extent practicable, (i) treat the Company (or a member of the Company Group designated by the Company) as a “successor employer” and Pfizer (or the appropriate Pfizer Group member) as a “predecessor,” within the meaning of Sections 3121(a)(1) and 3306(b)(1) of the Code, with respect to Company Transferred Employees for purposes of taxes imposed under the United States Federal Unemployment Tax Act or the United States Federal Insurance Contributions Act, and (ii) cooperate with each other to avoid, to the extent possible, the filing of the more than one IRS Form W-2 with respect to each Company Transferred Employee for the year in which the Effective Date occurs. Without limiting in any manner the obligations and Liabilities of the parties under the Tax Matters Agreement, Pfizer, each Pfizer Group member, the Company and each Company Group member shall each bear its responsibility for payroll tax obligations and for the proper reporting to the appropriate governmental authorities of compensation earned by their respective employees after the Employee Transfer Date, including compensation related to the exercise of options or the vesting or exercise of other equity awards, subject to Section 11.2 hereof.

Income Reporting, Withholding. Pfizer Lilly and the Company shall, to the extent practicable, (i) treat the Company (or a member of the Company Group designated by the Company) as a “successor employer” and Pfizer Lilly (or the appropriate Pfizer Lilly Group member) as a “predecessor,” within the meaning of Sections 3121(a)(1) and 3306(b)(1) of the Code, with respect to Company Transferred Employees for purposes of taxes imposed under the United States Federal Unemployment Tax Act or the United States Federal Insurance Contributions Act, and (ii) cooperate with each other to avoid, to the extent possible, the filing of the more than one IRS Form W-2 with respect to each Company Transferred Employee for the year in which the Effective Date occurs. Without limiting in any manner the obligations and Liabilities of the parties under the Tax Matters Agreement, PfizerLilly, each Pfizer Lilly Group member, the Company and each Company Group member shall each bear its responsibility for payroll tax obligations and for the proper reporting to the appropriate governmental authorities of compensation earned by their respective employees after the Employee Transfer Date, including compensation related to the exercise of options or the vesting or exercise of other equity awards, subject to Section 11.2 hereof.

Income Reporting, Withholding. Pfizer Air Products and the Company Versum shall, to the extent practicable, (i) treat the Company Versum (or a member of the Company Versum Group designated by the CompanyVersum) as a “successor employer” and Pfizer Air Products (or the appropriate Pfizer Air Products Group member) as a “predecessor,” within the meaning of Sections 3121(a)(1) and 3306(b)(1) of the Code, with respect to Company Transferred Versum Employees for purposes of taxes imposed under the United States Federal Unemployment Tax Act or the United States Federal Insurance Contributions Act, and (ii) cooperate with each other to avoid, to the extent possible, the filing of the more than one IRS Form W-2 with respect to each Company Transferred Versum Employee for the year in which the Effective Date Distribution occurs. Without limiting in any manner the obligations and Liabilities of the parties under the Tax Matters Agreement, PfizerAir Products, each Pfizer Air Products Group member, the Company Versum and each Company Versum Group member shall each bear its responsibility for payroll tax obligations and for the proper reporting to the appropriate governmental authorities of compensation earned by their respective employees after the Employee Transfer Date, including compensation related to the exercise of options or the vesting vesting, settlement or exercise of other equity awards, subject to Section 11.2 11.8 hereof.

Income Reporting, Withholding. Pfizer Air Products and the Company Versum shall, to the extent practicable, (i) treat the Company Versum (or a member of the Company Versum Group designated by the CompanyVersum) as a “successor employer” and Pfizer Air Products (or the appropriate Pfizer Air Products Group member) as a “predecessor,” within the meaning of Sections 3121(a)(1) and 3306(b)(1) of the Code, with respect to Company Transferred Versum Employees for purposes of taxes imposed under the United States Federal Unemployment Tax Act or the United States Federal Insurance Contributions Act, and (ii) cooperate with each other to avoid, to the extent possible, the filing of the more than one IRS Form W-2 with respect to each Company Transferred Versum Employee for the year in which the Effective Date Distribution occurs. Without limiting in any manner the obligations and Liabilities of the parties under the Tax Matters Agreement, PfizerAir Products, each Pfizer Air Products Group member, the Company Versum and each Company Versum Group member shall each bear its responsibility for payroll tax obligations and for the proper reporting to the appropriate governmental authorities of compensation earned by their respective employees after the Employee Transfer Date, including compensation related to the exercise of options or the vesting vesting, settlement or exercise of other equity awards, subject to Section 11.2 11.9 hereof.