HCC Payroll Sample Clauses
HCC Payroll. With respect to Retained Employees who were Employees of HCC prior to the Closing, the appropriate parties will adopt the “alternative procedure” for preparing and filing IRS Forms W-2 as described in Revenue Procedure 96-60. Under this procedure Hyatt as the successor employer shall provide all required Forms W-2 to all Retained Employees reflecting all wages paid and taxes withheld by both HCC as the predecessor and Hyatt, as the successor employer for the 2004 calendar year.
HCC Payroll. With respect to Retained Employees who were Employees of HCC prior to the Closing, Hyatt and HCC will adopt the alternative procedure of Rev. Proc. 96-60 for purposes of filing IRS Forms W-4 and W-5. Under this procedure HCC shall provide to Hyatt all IRS Forms W-4 and W-5 on file with respect to each Retained Employee, and Hyatt will honor these forms until such time, if any, that such Retained Employee submits a revised form.