Severance and Unemployment Compensation. As of the Effective Time, the Varex Group shall assume and be responsible for any and all Liabilities relating to Varex Employees in respect of severance, unemployment compensation and supplemental unemployment benefits if the event giving rise to the Liability occurred on or after January 1, 2017. The Parent Group shall retain or assume, as applicable, and be responsible for any and all Liabilities relating to Parent Employees and Former Employees in respect of severance, unemployment compensation and supplemental unemployment benefits, regardless of when arising. For purposes of this Section 7.04, any Former Employee who is entitled to severance, unemployment compensation or supplemental unemployment benefits under a Varex Benefit Plan shall be considered a Varex Employee.
Appears in 4 contracts
Samples: Employee Matters Agreement, Employee Matters Agreement (Varex Imaging Corp), Employee Matters Agreement (Varian Medical Systems Inc)
