Common use of TERMINATIONS/LAYOFF/SEVERANCE Clause in Contracts

TERMINATIONS/LAYOFF/SEVERANCE. The Corporation and New Ceridian intend that the transactions contemplated by this Agreement and the Distribution Agreement shall not constitute a termination of employment of any New Ceridian Employee or Arbitron Employee. New Ceridian Employees shall not be eligible for any severance benefits as a result of their transfer to New Ceridian or its Subsidiaries. Arbitron Employees shall not be eligible for any severance benefits as a result of any transfer to Arbitron or its Subsidiaries. Subject to the provisions of Section 7.2, New Ceridian shall be liable to pay any severance benefits to which a Former New Ceridian Employee or a New Ceridian Employee is entitled under the severance plan, if any, in effect with respect to the Former New Ceridian Employee or New Ceridian Employee on the date his or her employment terminates, whether before or after the Effective Time. Neither the Corporation nor any of its Subsidiaries shall have any responsibility to provide such severance benefits after the Effective Time, and New Ceridian shall indemnify and hold harmless the Media Information Indemnitees from all Indemnifiable Losses arising from or related to such severance plan. Commencing as of the Effective Date, the Corporation shall be liable to pay any severance benefits to which a Former Arbitron Employee, Media Information Employee or Arbitron Employee is entitled under the severance plan in effect with respect to the Former Arbitron Employee, Media Information Employee or Arbitron Employee,on the date his or her employment terminates, whether before or after the Effective Date. Neither New Ceridian nor any of its Subsidiaries shall have any responsibility to provide such severance benefits after the Effective Time, and the Corporation shall indemnify and hold harmless the New Ceridian Indemnitees from all Indemnifiable Losses arising from or related to such severance plan.

TERMINATIONS/LAYOFF/SEVERANCE. The Corporation and New Ceridian intend that the transactions contemplated by this Agreement and the Distribution Agreement shall not constitute a termination of employment of any New Ceridian Employee or Arbitron Employee. New Ceridian Employees shall not be eligible for any severance benefits as a result of their transfer to New Ceridian or its Subsidiaries. Arbitron Employees shall not be eligible for any severance benefits as a result of any transfer to Arbitron or its Subsidiaries. Subject to the provisions of Section 7.2, New Ceridian shall be liable to pay any severance benefits to which a Former New Ceridian Employee or a New Ceridian Employee is entitled under the severance plan, if any, in effect with respect to the Former New Ceridian Employee or New Ceridian Employee on the date his or her employment terminates, whether before or after the Effective Time. Neither the Corporation nor any of its Subsidiaries shall have any responsibility to provide such severance benefits after the Effective Timebenefits, and New Ceridian shall indemnify and hold harmless the Media Information Indemnitees from all Indemnifiable Losses arising from or related to such severance plan. Commencing as of the Effective Date, the Corporation shall be liable to pay any severance benefits to which a Former Arbitron Employee, Media Information Employee or an Arbitron Employee is entitled under the severance plan in effect with respect to the Former Arbitron Employee, Media Information Employee or Arbitron Employee,Employee on the date his or her employment terminates, whether before or after the Effective Date. Neither New Ceridian nor any of its Subsidiaries shall have any responsibility to provide such severance benefits after the Effective Timebenefits, and the Corporation shall indemnify and hold harmless the New Ceridian Indemnitees from all Indemnifiable Losses arising from or related to such severance plan.