Liabilities for Former Employees Sample Clauses
The 'Liabilities for Former Employees' clause defines which party is responsible for obligations and claims related to employees who are no longer with the company, particularly in the context of a business transfer or acquisition. Typically, this clause specifies whether the seller or buyer will assume responsibility for issues such as unpaid wages, benefits, or legal claims arising from the period before the transfer. By clearly allocating these liabilities, the clause helps prevent disputes and ensures that both parties understand their ongoing responsibilities regarding former staff.
Liabilities for Former Employees. Except to the extent otherwise required by applicable Law or as otherwise provided in Section 1.16(b) with respect to Deselected Employees or Section 1.16(c) with respect to Non-Consenting Employees or this Section 1.16(d) with respect to Former Other Business Employees, any HR Liability in respect of individuals who, as of immediately prior to the applicable Distribution Date, are former employees of Heritage Dow or Heritage DuPont or any of their respective predecessors or former Affiliates, shall be, to the extent not otherwise addressed herein, (i) a MatCo HR Liability to the extent relating to, arising out of, by reason of or otherwise in connection with the Material Sciences Business; (ii) an AgCo HR Liability to the extent relating to, arising out of, by reason of or otherwise in connection with the Agriculture Business; and (iii) a SpecCo HR Liability to the extent relating to, arising out of, by reason of or otherwise in connection with the Specialty Products Business. With respect to the HR Liabilities pertaining to any Former Other Business Employee, to the extent not otherwise addressed herein, the principles of the Separation Agreement shall apply to such HR Liability.
Liabilities for Former Employees. Except to the extent otherwise required by applicable Law or as otherwise provided in Section 1.15(b) with respect to Non-Consenting Employees or this Section 1.15(c) with respect to Former Other Business Employees, any HR Liability in respect of individuals who, as of immediately prior to the Distribution Date, are (i) former employees of RemainCo or any of its Affiliates or any of their respective predecessors or former Affiliates, shall be a RemainCo HR Liability; and (ii) former employees of ElectronicsCo or any of its Affiliates or any of their respective predecessors or former Affiliates, shall be an ElectronicsCo HR Liability. With respect to the HR Liabilities pertaining to any Former Other Business Employee, to the extent not otherwise addressed herein, the principles of Article VII (Legacy Liabilities) of the Separation Agreement apply to such HR Liability.