Severance and Unemployment Compensation. Effective as of the Effective Time, the SpinCo Group shall assume any and all Liabilities to, or relating to, SpinCo Group Employees and Former SpinCo Group Employees in respect of severance and unemployment compensation, regardless of whether the event giving rise to the Liability occurred before, at or after the Effective Time. The KAR Group shall be responsible for any and all Liabilities to, or relating to, KAR Group Employees and Former KAR Group Employees in respect of severance and unemployment compensation, regardless of whether the event giving rise to the Liability occurred before, at or after the Effective Time.
Appears in 4 contracts
Samples: Employee Matters Agreement (IAA, Inc.), Employee Matters Agreement (KAR Auction Services, Inc.), Employee Matters Agreement (IAA Spinco Inc.)
