Common use of Salaries and Benefits Clause in Contracts

Salaries and Benefits. (i) Seller shall be responsible for (A) the payment of all wages and other remuneration due to Active Employees with respect to their services as employees of Seller through the close of business on the date of the Closing, including pro rata bonus payments and all vacation pay earned prior to the date of the Closing; and (B) the payment of any termination or severance payments and the provision of health plan continuation coverage in accordance with the requirements of COBRA and Sections 60: through 608 of ERISA. (ii) Seller shall be liable for any claims made or incurred by Active Employees and their beneficiaries through the date of the Closing under the Employee Plans.

Salaries and Benefits. (i) Seller shall be responsible for (A) the payment of all wages and other remuneration due to Active Employees with respect to their services as employees of Seller through the close of business on the date of the Closing, including pro rata bonus payments and all vacation pay earned prior to the date of the Closing; and (B) the payment of any termination or severance payments and the provision of health plan continuation coverage in accordance with the requirements of COBRA and Sections 60: 601 through 608 of ERISA. (ii) Seller shall be liable for any claims made or incurred by Active Employees and their beneficiaries through the date of the Closing under the Employee Plans.