Common use of Payroll and Personnel Services Clause in Contracts

Payroll and Personnel Services. MPIC will assist MP Securities in handling its payroll reporting, processing and handling of employment related matters through its arrangement with Automated Data Processing, Inc (“ADP”). All MP Securities employees will be treated as leased employees pursuant to MPIC’s Agreement with ADP. MP Securities will provide all training, employment and administrative manuals for its employees and will handle all employment related issues for the broker dealer firm.

Payroll and Personnel Services. MPIC will assist MP Securities in handling its payroll reporting, processing and handling of employment related matters through its arrangement with Automated Data ProcessingAdministaff Services, Inc LP (“ADPAdministaff”). All MP Securities employees will be treated as leased employees pursuant to MPIC’s Agreement with ADPAdministaff. MP Securities will provide all training, employment and administrative manuals for its employees and will handle all employment related issues for the broker dealer firm..