Hyatt Payroll Clause Samples
The "Hyatt Payroll" clause defines the procedures and responsibilities related to the payment of wages and compensation for employees working under the Hyatt brand or at Hyatt-managed properties. Typically, this clause outlines whether Hyatt or a third-party operator is responsible for processing payroll, handling tax withholdings, and ensuring compliance with applicable employment laws. For example, it may specify that Hyatt will directly pay all hotel staff or that the payroll function will be outsourced to a designated provider. The core function of this clause is to clearly allocate payroll administration duties, thereby preventing confusion or disputes regarding employee compensation and legal compliance.
Hyatt Payroll. With respect to Gaming Employees who were Employees of Hyatt prior to the Closing, the appropriate parties will adopt the “alternative procedure” for preparing and filing IRS Forms W-2 (Wage and Tax Statements), as described in Revenue Procedure 96-60 (“Rev. Proc. 96-60”). Under this procedure H-Group, HGMI and HCC as the successor employers shall provide all required Forms W-2 to all Gaming Employees reflecting all wages paid and taxes withheld by both Hyatt as the predecessor and H-Group, HGMI or HCC, as appropriate, as the successor employer for the 2004 calendar year.
Hyatt Payroll. With respect to Gaming Employees who were Employees of Hyatt prior to the Closing, the appropriate parties will adopt the alternative procedure of Rev. Proc. 96-60 for purposes of filing IRS Forms W-4 (Employee’s Withholding Allowance Certificate) and W-5 (Earned Income Credit Advance Payment Certificate). Under this procedure Hyatt shall provide to H-Group, HGMI and HCC, as appropriate, all IRS Forms W-4 and W-5 on file with respect to each Gaming Employee, and H-Group, HGMI and HCC will honor these forms until such time, if any, that such Gaming Employee submits a revised form.