Common use of Vacation Pay, Holidays and Sick Pay Clause in Contracts

Vacation Pay, Holidays and Sick Pay. (a) Buyer shall not assume or otherwise become liable for, and Seller shall not transfer to Buyer, any liabilities of Seller with respect to accrued but unused vacation or paid time off (excluding sick pay) (collectively, the “Accrued Amounts”). Seller shall pay to each Nonrepresented Transferred Employee the Accrued Amount with respect to such employee in accordance with Seller’s regular payroll practices and procedures for the payment of wages to terminating employees. Seller will communicate the timing and amount of the payouts of the Accrued Amounts to Buyer. Up to and including the Anniversary Date, Buyer will honor Seller’s vacation and holiday policies as to the number of days available as in effect on the date immediately prior to the Closing for the benefit of the Nonrepresented Transferred Employees; provided, that Buyer may, at its option, elect to provide the Nonrepresented Transferred Employees with cash compensation in lieu of any such additional vacation or holidays that would be required under Seller’s vacation, paid time off, and holiday policies. Except as provided in this Section 3.8(a), Nonrepresented Transferred Employees’ entitlement to vacation, paid time off or holidays will be accrued or available and used only in accordance with Buyer’s own vacation, paid time off and holiday policies. (b) Buyer will offer a sick pay transition benefit to Nonrepresented Transferred Employees, which will include the creation of a temporary “bank” and credit such bank for each Nonrepresented Transferred Employee with the lesser of ten (10) sick pay days or the number of the Nonrepresented Transferred Employee’s unused sick pay days as of the Closing Date as set forth in Seller’s payroll records that will be made available for use by the Nonrepresented Transferred Employees until the Anniversary Date, and which will be in addition to, and not in lieu of, any sick pay days to which the Nonrepresented Transferred Employees may be entitled under the Buyer’s existing sick pay policy. Unused days from this temporary “bank” will not be paid out to Nonrepresented Transferred Employees after the Anniversary Date. The cost of providing this benefit will be shared between the parties, with Buyer bearing the cost of the additional sick days one (1) through five (5) and Seller bearing the cost of additional days six (6) through ten (10). After the Anniversary Date, the parties will review the implementation of the sick pay transition benefit and associated costs as compared to other programs implemented by expanding participating bottlers other than Buyer, and the parties may make such adjustments as are mutually agreed in order to ensure the continued effectiveness and consistency of similar programs that may be implemented in connection with future transactions, if any.

Vacation Pay, Holidays and Sick Pay. (a) Buyer shall not assume or otherwise become liable for, and Seller shall not transfer to Buyer, any liabilities of Seller with respect to accrued but unused vacation or paid time off (excluding sick pay) (collectively, the “Accrued Amounts”). Seller shall pay to each Nonrepresented Transferred Employee the Accrued Amount with respect to such employee in accordance with Seller’s regular payroll practices and procedures for the payment of wages to terminating employees. Seller will communicate the timing and amount of the payouts of the Accrued Amounts to Buyer. Up to and including the Anniversary Date, Buyer will honor Seller’s vacation and holiday policies as to the number of days available as in effect on the date immediately prior to the Closing for the benefit of the Nonrepresented Transferred Employees; provided, that Buyer may, at its option, elect to provide the Nonrepresented Transferred Employees with cash compensation in lieu of any such additional vacation or holidays that would be required under Seller’s vacation, paid time off, and holiday policies. Except as provided in this Section 3.8(a), Nonrepresented Transferred Employees’ entitlement to vacation, paid time off or holidays will be accrued or available and used only in accordance with Buyer’s own vacation, paid time off and holiday policies. (b) Buyer will offer a sick pay transition benefit to Nonrepresented Transferred Employees, which will include the creation of a temporary “bank” and credit such bank for each Nonrepresented Transferred Employee with the lesser of ten (10) sick pay days or the number of the Nonrepresented Transferred Employee’s unused sick pay days as of the Closing Date as set forth in Seller’s payroll records that will be made available for use by the Nonrepresented Transferred Employees until the Anniversary Date, and which will be in addition to, and not in lieu of, any sick pay days to which the Nonrepresented Transferred Employees may be entitled under the Buyer’s existing sick pay policy. Unused days from this temporary “bank” will not be paid out to Nonrepresented Transferred Employees after the Anniversary Date. The cost of providing this benefit will be shared between the parties, with Buyer bearing the cost of the additional sick days one (1) through five (5) and Seller bearing the cost of additional days six (6) through ten (10). After the Anniversary Date, the parties will review the implementation of the sick pay transition benefit and associated costs as compared to other programs implemented by expanding participating bottlers other than Buyer, and the parties may make such adjustments as are mutually agreed in order to ensure the continued effectiveness and consistency of similar programs that may be implemented in connection with future transactions, if any.

Vacation Pay, Holidays and Sick Pay. (a) Buyer shall not assume or otherwise become liable for, and Seller shall not transfer to Buyer, any liabilities of Seller with respect to accrued but unused vacation or paid time off (excluding sick pay) (collectively, the “Accrued Amounts”). Seller shall pay to each Nonrepresented Transferred Employee the Accrued Amount with respect to such employee in accordance with Seller’s regular payroll practices and procedures for the payment of wages to terminating employees. Seller will communicate the timing and amount of the payouts of the Accrued Amounts to Buyer. Up to and including the Anniversary DateDecember 31, 2015, Buyer will honor Seller’s vacation and holiday policies as to the number of days available as in effect on the date immediately prior to the Closing for the benefit of the Nonrepresented Transferred Employees; provided, that Buyer may, at its option, elect to provide the Nonrepresented Transferred Employees with cash compensation in lieu of any such additional vacation or holidays that would be required under Seller’s vacation, paid time off, vacation and holiday policies. Except as provided in this Section 3.8(a), Nonrepresented Transferred Employees’ entitlement to vacation, paid time off or holidays will be accrued or available and used only in accordance with Buyer’s own vacation, paid time off and holiday policies. (b) Buyer will offer a sick pay transition benefit to Nonrepresented Transferred Employees, which will include the creation of a temporary “bank” and credit such bank for each Nonrepresented Transferred Employee with the lesser of ten (10) sick pay days or the number of the Nonrepresented Transferred Employee’s unused sick pay days as of the Closing Date as set forth in Seller’s payroll records that will be made available for use by the Nonrepresented Transferred Employees until the Anniversary Date, and which will be in addition to, and not in lieu of, any sick pay days to which the Nonrepresented Transferred Employees may be entitled under the Buyer’s existing sick pay policy. Unused days from this temporary “bank” will not be paid out to Nonrepresented Transferred Employees after the Anniversary Date. The cost of providing this benefit will be shared between the parties, with Buyer bearing the cost of the additional sick days one (1) through five (5) and Seller bearing the cost of additional days six (6) through ten (10). After the Anniversary Date, the parties will review the implementation of the sick pay transition benefit and associated costs as compared to other programs implemented by expanding participating bottlers other than Buyer, and the parties may make such adjustments as are mutually agreed in order to ensure the continued effectiveness and consistency of similar programs that may be implemented in connection with future transactions, if any.

Vacation Pay, Holidays and Sick Pay. (a) Buyer shall not assume or otherwise become liable for, and Seller shall not transfer to Buyer, any liabilities of Seller with respect to accrued but unused vacation or paid time off (excluding sick pay) (collectively, the “Accrued Amounts”). Seller shall pay to each Nonrepresented Transferred Employee the Accrued Amount with respect to such employee in accordance with Seller’s regular payroll practices and procedures for the payment of wages to terminating employees. Seller will communicate the timing and amount of the payouts of the Accrued Amounts to Buyer. Up to and including the Anniversary DateDecember 31, 2015, Buyer will honor Seller’s vacation and holiday policies as to the number of days available as in effect on the date immediately prior to the Closing for the benefit of the Nonrepresented Transferred Employees; provided, that Buyer may, at its option, elect to provide the Nonrepresented Transferred Employees with cash compensation in lieu of any such additional vacation or holidays that would be required under Seller’s vacation, paid time off, vacation and holiday policies. Except as provided in this Section 3.8(a), Nonrepresented Transferred Employees’ entitlement to vacation, paid time off or holidays will be accrued or available and used only in accordance with Buyer’s own vacation, paid time off and holiday policies. (b) Buyer will offer a sick pay transition benefit to Nonrepresented Transferred Employees, which will include the creation of a temporary “bank” and credit such bank for each Nonrepresented Transferred Employee with the lesser of ten (10) sick pay days or the number of the Nonrepresented Transferred Employee’s unused sick pay days as of the Closing Date as set forth in Seller’s payroll records that will be made available for use by the Nonrepresented Transferred Employees until the Anniversary Date, and which will be in addition to, and not in lieu of, any sick pay days to which the Nonrepresented Transferred Employees may be entitled under the Buyer’s existing sick pay policy. Unused days from this temporary “bank” will not be paid out to Nonrepresented Transferred Employees after the Anniversary Date. The cost of providing this benefit will be shared between the parties, with Buyer bearing the cost of the additional sick days one (1) through five (5) and Seller bearing the cost of additional days six (6) through ten (10). After the Anniversary Date, the parties will review the implementation of the sick pay transition benefit and associated costs as compared to other programs implemented by expanding participating bottlers other than Buyer, and the parties may make such adjustments as are mutually agreed in order to ensure the continued effectiveness and consistency of similar programs that may be implemented in connection with future transactions, if any.

Vacation Pay, Holidays and Sick Pay. (a) Buyer CCBCC shall not assume or otherwise become liable for, and Seller CCR shall not transfer to BuyerCCBCC, any liabilities of Seller CCR with respect to accrued but unused vacation or paid time off (excluding sick pay) (collectively, the “Accrued Amounts”). Seller CCR shall pay to each Nonrepresented Transferred Employee the Accrued Amount with respect to such employee in accordance with SellerCCR’s regular payroll practices and procedures for the payment of wages to terminating employees. Seller CCR will communicate the timing and amount of the payouts of the Accrued Amounts to BuyerCCBCC. Up to and including the Anniversary DateDecember 31, Buyer 2015, CCBCC will honor SellerCCR’s vacation and holiday policies as to the number of days available as in effect on the date immediately prior to the Closing for the benefit of the Nonrepresented Transferred Employees, and will be responsible for paying or providing all leave that Transferred Employees accrue following the Closing Date and for paying any other costs associated with honoring such policies until at least the Anniversary Date; provided, that Buyer CCBCC may, at its option, elect to provide the Nonrepresented Transferred Employees with cash compensation in lieu of any such additional vacation or holidays that would be required under SellerCCR’s vacation, paid time off, vacation and holiday policies. Except as provided in this Section 3.8(a), Nonrepresented Transferred Employees’ entitlement to vacation, paid time off or holidays will be accrued or available and used only in accordance with BuyerCCBCC’s own vacation, paid time off and holiday policies. (b) Buyer CCBCC will offer a sick pay transition benefit to Nonrepresented Transferred Employees, which will include the creation of a temporary “bank” and credit such bank for each Nonrepresented Transferred Employee with the lesser of ten (10) sick pay days or the number of the Nonrepresented Transferred Employee’s unused sick pay days as of the Closing Date as set forth in SellerCCR’s payroll records that will be made available for use by the Nonrepresented Transferred Employees until the Anniversary Date, and which will be in addition to, and not in lieu of, any sick pay days to which the Nonrepresented Transferred Employees may be entitled under the BuyerCCBCC’s existing sick pay policy. Unused days from this temporary “bank” will not be paid out to Nonrepresented Transferred Employees after the Anniversary Date. The cost of providing this benefit will be shared between the parties, with Buyer CCBCC bearing the cost of the additional sick days one (1) through five (5) and Seller CCR bearing the cost of additional days six (6) through ten (10). After the Anniversary Date, the parties will review the implementation of the sick pay transition benefit and associated costs as compared to other programs implemented by expanding participating bottlers other than BuyerCCBCC, and the parties may make such adjustments as are mutually agreed in order to ensure the continued effectiveness and consistency of similar programs that may be implemented in connection with future transactions, if any.

Vacation Pay, Holidays and Sick Pay. (a) Buyer CCBCC shall not assume or otherwise become liable for, and Seller CCR shall not transfer to BuyerCCBCC, any liabilities of Seller CCR with respect to accrued but unused vacation or paid time off (excluding sick pay) (collectively, the “Accrued Amounts”). Seller CCR shall pay to each Nonrepresented Transferred Employee the Accrued Amount with respect to such employee in accordance with SellerCCR’s regular payroll practices and procedures for the payment of wages to terminating employees. Seller CCR will communicate the timing and amount of the payouts of the Accrued Amounts to BuyerCCBCC. Up to and including the Anniversary Date, Buyer CCBCC will honor SellerCCR’s vacation and holiday policies as to the number of days available as in effect on the date immediately prior to the Closing for the benefit of the Nonrepresented Transferred Employees; provided, that Buyer CCBCC may, at its option, elect to provide the Nonrepresented Transferred Employees with cash compensation in lieu of any such additional vacation or holidays that would be required under SellerCCR’s vacation, paid time off, and holiday policies. Except as provided in this Section 3.8(a), Nonrepresented Transferred Employees’ entitlement to vacation, paid time off or holidays will be accrued or available and used only in accordance with BuyerCCBCC’s own vacation, paid time off and holiday policies. (b) Buyer CCBCC will offer a sick pay transition benefit to Nonrepresented Transferred Employees, which will include the creation of a temporary “bank” and credit such bank for each Nonrepresented Transferred Employee with the lesser of ten (10) sick pay days or the number of the Nonrepresented Transferred Employee’s unused sick pay days as of the Closing Date as set forth in SellerCCR’s payroll records that will be made available for use by the Nonrepresented Transferred Employees until the Anniversary Date, and which will be in addition to, and not in lieu of, any sick pay days to which the Nonrepresented Transferred Employees may be entitled under the BuyerCCBCC’s existing sick pay policy. Unused days from this temporary “bank” will not be paid out to Nonrepresented Transferred Employees after the Anniversary Date. The cost of providing this benefit will be shared between the parties, with Buyer CCBCC bearing the cost of the additional sick days one (1) through five (5) and Seller CCR bearing the cost of additional days six (6) through ten (10). After the Anniversary Date, the parties will review the implementation of the sick pay transition benefit and associated costs as compared to other programs implemented by expanding participating bottlers other than BuyerCCBCC, and the parties may make such adjustments as are mutually agreed in order to ensure the continued effectiveness and consistency of similar programs that may be implemented in connection with future transactions, if any.