Severance Plans. Trident shall cause Fountain to establish the Fountain Severance Plans, each effective as of the Fountain Distribution Date and each in substantially the same form(s) as the Trident Severance Plans as provided by Trident in the online data room in Folders 8.2.2.3, 8.2.2.4 and 8.2.2.5 as of the date of this Agreement (provided that Trident will, prior to establishing such Fountain Severance Plans, amend Section 3.02(b)(x) of the Trident Severance Plan in Folder 8.2.2.5 to be identical to Section 3.02(b)(x) of the Trident Severance Plan in Folder 8.2.2.3 and such amended plan shall serve as the form for the corresponding Fountain Severance Plan) and, correspondingly, Fountain Employees and Former Fountain Employees who are currently eligible to receive or are receiving severance payments shall cease participating in the Trident Severance Plans on the Fountain Distribution Date. After the Fountain Distribution Date: (i) Fountain shall be solely responsible for (x) the payment of all Liabilities under the Trident Severance Plans (as amended pursuant to the proviso above) or Fountain Severance Plans relating to Fountain Employees and Former Fountain Employees, (y) the management and administration of the Fountain Severance Plans and (z) the payment of all employer-related costs in establishing and maintaining the Fountain Severance Plans, and (ii) Trident shall retain sole responsibility for (w) all Liabilities under the Trident Severance Plans or Fountain Severance Plans relating to Trident Employees and Former Trident Employees, (x) all Liabilities for severance or termination pay or benefits under individual agreements entered into with any Trident Employee or Former Trident Employee prior to the Fountain Distribution Date, (y) the management and administration of the Trident Severance Plans and (z) the payment of all employer-related costs in maintaining the Trident Severance Plans. In no event shall an employee or former employee receive a duplication of severance benefits. Except as provided below, Fountain shall be solely responsible for the adjudication of any claims filed by a Fountain Employee or Former Fountain Employee before, on or after the Fountain Distribution Date under a Trident Severance Plan. Notwithstanding the previous sentence, Trident shall be solely responsible for the adjudication of any claim filed by a Fountain Employee or Former Fountain Employee under a Trident Severance Plan before the Fountain Distribution Date that (A) has not b...
Severance Plans. Amounts paid hereunder are in addition to any amounts payable under the Company severance plans, without offset or reduction.
Severance Plans. (i) US Severance Plans. Effective July 1, 2016, (A) LSC Communications US, LLC established the LSC Separation Pay Plan and is solely responsible for any severance Liabilities to any LSC Employee whose employment terminates on or after July 1, 2016 and (B) Donnelley Financial, LLC established the Donnelley Financial Separation Pay Plan and is solely responsible for any severance Liabilities relating to any Donnelley Financial Employee whose employment terminates on or after July 1, 2016. RRD retained sole responsibility for any severance Liabilities relating to RRD Employees whose employment terminates on or after July 1, 2016 and Former RRD Employees, Former LSC Employees and Former Donnelley Financial Employees, in each case, whose employment terminated before July 1, 2016. In no event shall an employee receive a duplication of severance benefits.
Severance Plans. The Cognizant Group shall retain all Liabilities with respect to severance payments made or to be made to employees of the Cognizant Group who terminated employment prior to the Effective Time. The ACNielsen Group shall retain all Liabilities with respect to severance payments made or to be made to employees of the ACNielsen Group who terminated employment prior to the Effective Time. The D&B Group shall retain all Liabilities with respect to severance payments made or to be made to all other D&B Pre-Distribution Employees who terminated employment prior to the Effective Time. For purposes of this Section 5.3, the term "severance payments" shall include any welfare benefit coverage provided under severance plans.
Severance Plans. The Corporation Group shall retain all Liabilities with respect to severance payments made or to be made to Corporation Retirees including any liabilities for severance payments under the Corporation Transition Plans. The IMS Health Group shall retain all Liabilities with respect to severance payments made or to be made to IMS Health Retirees including any liabilities for severance payments under the Corporation Transition Plans. For purposes of this Section 5.3, the term "severance payments" shall include any welfare benefit coverage provided under severance plans.
Severance Plans. The Parent Severance Pay Program provides for the payment of certain compensation and benefits in the event of the termination of employment of the individual covered by the terms of such plans. As of the Close of the Distribution Date, Parent shall retain all Liabilities relating to the Parent Severance Pay Program and all Liabilities relating to, arising out of, or resulting from claims incurred by or on behalf of any individual under such plans. A Xxxxx Xxxxxxx Employee shall not be deemed to have terminated employment for purposes of determining eligibility for benefits under the Severance Pay Plan or other similar plans and programs in connection with or in anticipation of the consummation of the transactions contemplated by the Separation and Distribution Agreement, and shall cease to be covered thereby as of the Close of the Distribution Date. Xxxxx Xxxxxxx shall be solely responsible for all Liabilities in respect of all costs arising out of payments and benefits relating to the termination or alleged termination of any Xxxxx Xxxxxxx Employee's employment that occurs as a result of or in connection with or following the consummation of the transactions contemplated by the Separation and Distribution Agreement, including any amounts required to be paid (including any payroll or other taxes), and the costs of providing benefits, under any applicable severance, separation, redundancy, termination or similar plan, program, practice, contract, agreement, law or regulation (such benefits to include any medical or other welfare benefits, outplacement benefits, accrued vacation, and taxes). The Parent shall retain all Liabilities with respect to the termination of any Xxxxx Xxxxxxx Employee or Former Xxxxx Xxxxxxx employee prior to the Distribution Date.
Severance Plans. The Corporation's severance plan for Media Information Employees, Arbitron Employees and Former Arbitron Employees shall provide all severance benefits for such employees that are payable after the
Severance Plans. The RHD Group shall retain all Liabilities with respect to severance payments made or to be made to RHD Employees. The New D&B Group shall retain all Liabilities with respect to severance payments made or to be made to all other Corporation Employees who terminated employment prior to the Effective Time. For purposes of this Section 5.3, the term "severance payments" shall include any welfare benefit coverage and all other severance related benefits provided under severance plans and agreements.
Severance Plans. Neither a Comverse Employee nor a CTI Employee shall be deemed to have terminated employment for purposes of determining eligibility for severance benefits in connection with or in anticipation of the consummation of the transactions contemplated by the Distribution Agreement. Other than as set forth in the penultimate sentence of this Section 2.4, CTI shall be solely responsible for all Liabilities in respect of all costs arising out of payments and benefits relating to the termination of any Remaining CTI Employee’s employment that occurs following the Effective Time, including any amounts required to be paid (including any payroll or other taxes), and the costs of providing benefits, under the CTI Severance Plans. As of the Effective Time, Comverse Employees and Transferred Employees will cease to participate in the CTI Executive Severance Protection Plan. In connection with the Distribution, Comverse shall establish a severance plan for the benefit of certain Comverse Employees and Transferred Employees that is substantially similar in all material respects to the CTI Executive Severance Protection Plan (the “Comverse Executive Severance Protection Plan”). Comverse shall be solely responsible for all Liabilities in respect of all costs arising out of payments and benefits relating to the termination of any Comverse Employee’s or any Transferred Employee’s employment that occurs following the Effective Time, including, without limitation, any amounts required to be paid (including, without limitation, payroll or other taxes), and the costs of providing benefits, under the Comverse Executive Severance Protection Plan. In addition, Comverse shall be solely responsible for all amounts required to be paid and the costs of providing benefits to employees of CTI whose employment is terminated in connection with, or in anticipation of, the Distribution. In addition, the Parties hereby agree that if any payments to be made by either Comverse or CTI to any employee or former employee of Comverse or CTI is conditioned on a release of claims and if such payment is under an arrangement in effect prior to the Effective Time or in respect of the period prior to the Effective Time, then as a condition to the payment to the applicable employee, Comverse and CTI will include Verint, its Subsidiaries and their respective officers, directors and employees as one of the parties required to be released.
Severance Plans. For a period of at least one year following the Closing Date, Buyer will continue in effect, in accordance with their terms on the date hereof, the severance plans included on Schedule 5.10(f) (including the Enhanced Severance Plan and the Severance Policy), or provide substantially comparable benefits under a severance plan maintained by Buyer. Except for employees terminated or laid off as a result of the actions contemplated by Section 5.20, Buyer or Buyer's severance plan will pay all severance benefits to which the Employees become entitled on or after the Closing Date including, without limitation, any entitlement arising under the Sellers' or the Company's severance plans on account of the transactions contemplated by this Agreement.
