Standard Procedure. With respect to employment Tax matters, (a) the Acquiror shall not assume the Company’s obligation to prepare, file and furnish IRS Form W-2s with respect to the Transferred Employees for the year including the Closing Date; (b) the Company and the Acquiror shall utilize the “standard procedure” with respect to each Transferred Employee pursuant to the procedure prescribed by Section 4 of Revenue Procedure 2004-53, 34 I.R.B 320; and (c) the Company and the Acquiror shall cooperate in good faith to adopt similar procedures under applicable wage payment, reporting and withholding Laws for all Transferred Employees in all appropriate jurisdictions.
Appears in 2 contracts
Sources: Asset Purchase Agreement (Harsco Corp), Asset Purchase Agreement (Chart Industries Inc)