Common use of Allocation of Payroll and Related Obligations Clause in Contracts

Allocation of Payroll and Related Obligations. Each entity that is the employing legal entity of any RemainCo Employee or ElectronicsCo Employee during any portion of the year in which the Distribution Date occurs shall, in respect of the period of its employment, be responsible in respect of such employee for all payroll obligations, Tax withholdings, other applicable payroll deductions (including garnishments and union dues), and Tax reporting obligations (including delivery of a Form W-2 or similar earnings statement covering the tax year in which the Distribution Date occurs), and the applicable employer shall separately account for any such withholdings or deductions and apply them exclusively in satisfaction of the obligation in respect of which they were withheld or deducted.

Allocation of Payroll and Related Obligations. Each entity that is the employing legal entity of any RemainCo Employee or ElectronicsCo Employee during any portion of the year in which the Distribution Date occurs shall, in respect of the period of its his or her employment, be responsible in respect of such employee for all payroll obligations, Tax withholdings, other applicable payroll deductions (including garnishments and union dues), and Tax reporting obligations (including delivery of a Form W-2 or similar earnings statement covering the tax year in which the Distribution Date occurs), and the applicable employer shall separately account for any such withholdings or deductions and apply them exclusively in satisfaction of the obligation in respect of which they were withheld or deducted.