Effective as of the Closing Date, Seller shall terminate its participation in, and withdraw from, any employee benefit plans sponsored by Buyer, and Seller and Buyer shall cooperate fully in such termination and withdrawal. Without limitation, Seller shall be solely responsible for (i) all liabilities under those employee benefit plans notwithstanding any status as an employee benefit plan sponsored by Buyer, and (ii) all liabilities for the payment of vacation pay, severance benefits, and similar obligations, including, without limitation, amounts which are accrued but unpaid as of the Closing Date with respect thereto. Seller acknowledges and agrees that he is solely responsible for providing continuation health coverage, as required under the Consolidated Omnibus Reconciliation Act of 1985, as amended (“COBRA”), to each person, if any, participating in an employee benefit plan subject to COBRA with respect to such employee benefit plan as of the Closing Date, including, without limitation, any person whose employment with Buyer is terminated after the Closing Date.