ABII » Topics » 2.03 Personnel Records .

This excerpt taken from the ABII 10-Q filed Dec 20, 2007.

2.03 Personnel Records.

(a) Subject to Applicable Laws, as soon as practicable following the Distribution Time, the Alpha Parties shall cause all information and records regarding employment and personnel matters of the Generico Personnel in the possession of the Alpha Group (including, without limitation, all Employee Agreements) to be transferred to a member of the Generico Group designated by Generico, and the Generico Parties shall cause the members of the Generico Group to retain such information and records after the Distribution Time in accordance in all material respects with Applicable Laws relating to the collection,

 

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storage, retention and disclosure of such information and records. From and after such transfer, such information and records shall be the property of the Generico Group. Subject to Applicable Laws, New Alpha and its Subsidiaries shall be entitled to retain copies of any such information and records with respect to any of the Generico Personnel so transferred to the Generico Group in which New Alpha or any of its Subsidiaries has an interest, as determined by New Alpha in its reasonable discretion. Access to such information and records after the Distribution Time will be provided to the Alpha Parties in accordance with Article VI of the Separation and Distribution Agreement. Notwithstanding any limitations and restrictions set forth in Article VI of the Separation and Distribution Agreement, the Alpha Parties shall be entitled to reasonable access, subject to Applicable Laws, to such information and records necessary to their or their Subsidiaries’ administration of any Benefit Plans sponsored or maintained by any member of the Alpha Group or as otherwise required by Applicable Laws.

(b) Subject to Applicable Laws, all information and records regarding employment and personnel matters of the Alpha Personnel shall be retained after the Distribution Time by members of the Alpha Group in accordance in all material respects with Applicable Laws relating to the collection, storage, retention and disclosure of such information and records. Access to such information and records after the Distribution Time will be provided to Generico in accordance with Article VI of the Separation and Distribution Agreement. Notwithstanding any limitations and restrictions set forth in Article VI of the Separation and Distribution Agreement, Generico shall be entitled to reasonable access, subject to Applicable Laws, to such information and records necessary to Generico’s administration of any Benefit Plans on behalf of any of the Alpha Parties or on behalf or for the benefit of any Alpha Personnel after the Distribution Time or as otherwise required by Applicable Laws for so long as said administration continues pursuant to this Agreement, the Transition Services Agreement or such longer period as required by Applicable Laws. Subject to Applicable Laws, New Alpha shall also provide Gholdco or any of its Subsidiaries upon request with copies of any such information and records with respect to any of the Alpha Personnel in which Gholdco or any of its Subsidiaries has an interest, as determined by Generico in its reasonable discretion.

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