U. S. Severance Pay. ---------------------- (a) ▇▇▇▇▇▇▇ and Energizer agree that, with respect to individuals who, in connection with the Distribution, cease to be employees of the ▇▇▇▇▇▇▇ Group and become employees of the Energizer Group, such cessation shall not be deemed a severance of employment from either Group for purposes of any Plan that provides for the payment of severance, salary continuation or similar benefits and shall, in connection with the Distribution, if and to the extent appropriate, obtain waivers from individuals against any such assertion. (b) The ▇▇▇▇▇▇▇ Group shall assume and be solely responsible for all liabilities and obligations whatsoever in connection with claims made by or on behalf of ▇▇▇▇▇▇▇ Individuals and the Energizer Group shall assume and be solely responsible for all liabilities and obligations whatsoever in connection with claims made by or on behalf of Energizer Individuals in respect of severance pay, salary continuation and similar obligations relating to the termination or alleged termination of any such person's employment either before, to the extent unpaid, or on or after the Distribution Date. On or prior to the Distribution Date, Energizer shall amend its Plans relating to severance and other termination benefits to incorporate the terms of the special severance payment schedule in effect in ▇▇▇▇▇▇▇'▇ ▇▇▇▇▇▇▇▇▇ Pay Plan with respect to employees of the Corporate Division of ▇▇▇▇▇▇▇ who transfer to Energizer and who are involuntarily terminated without cause by Energizer on or prior to September 30, 2000.
Appears in 3 contracts
Sources: Reorganization Agreement (Energizer Holdings Inc), Reorganization Agreement (Energizer Holdings Inc), Reorganization Agreement (Ralston Purina Co)