Standard Procedure. Pursuant to the “Standard Procedure” provided in section 5 of Revenue Procedure 2004-53, 2004-34 I.R.B. 320, (i) the Company and Breitling shall report on a predecessor/successor basis as set forth therein, (ii) Breitling will not be relieved from filing a Form W-2 with respect to any Transferred Employees, and (iii) the Company will undertake to file (or cause to be filed) a Form W-2 for each such Transferred Employee only with respect to the portion of the year during which such Employees are employed by the Company that includes the Closing Date, excluding the portion of such year that such Employee was employed by Breitling.
Appears in 2 contracts
Sources: Asset Purchase Agreement, Asset Purchase Agreement (Bering Exploration, Inc.)