Common use of Obligations to Related Parties Clause in Contracts

Obligations to Related Parties. There are no obligations of the Company to officers, directors, stockholders, or employees of the Company other than (a) for payment of salary for services rendered, (b) reimbursement for reasonable expenses incurred on behalf of the Company and (c) for other standard employee benefits made generally available to all employees (including stock option agreements outstanding under any stock option plan approved by the Board of Directors of the Company). None of the officers, directors or stockholders of the Company, or any members of their immediate families, are indebted to the Company or, to the Company's knowledge, have any direct or indirect ownership interest in any firm or corporation with which the Company is affiliated or with which the Company has a business relationship, or any firm or corporation which competes with the Company, except that officers, directors and/or stockholders of the Company may own stock in publicly traded companies which may compete with the Company. No officer, director or stockholder, or any member of their immediate families, is, directly or indirectly, interested in any material contract with the Company (other than such contracts as relate to any such person's ownership of capital stock or other securities of the Company). Except as may be disclosed in the Financial Statements, the Company is not a guarantor or indemnitor of any indebtedness of any other person, firm or corporation.

Obligations to Related Parties. There are no obligations of the Company to officers, directors, stockholders, or employees of the Company other than (a) for payment of salary for services rendered, (b) reimbursement for reasonable business-related expenses incurred on behalf of the Company and (c) for other standard employee benefits made generally available to all employees (including stock option agreements outstanding under any stock option plan approved by the Board of Directors of the Company). None of the officers, directors or stockholders of the Company, or any members member of their immediate families, are indebted to the Company or, to the best of the Company's knowledgeknowledge after due inquiry of all its officers and directors, have any direct or indirect ownership interest in any firm or corporation with which the Company is affiliated or with which the Company has a business relationship, or any firm or corporation which competes with the Company, except that officers, directors and/or stockholders of the Company may own stock in publicly traded companies which may compete with fall into the Companyforegoing categories. No officer, director or stockholderstockholder of the Company, or any member of their immediate families, is, directly directly, or indirectlyto the best of the Company's knowledge, indirectly interested in any material contract with the Company (other than such contracts as relate to any such person's ownership of capital stock or other securities of the Company). Except as may be disclosed in the Financial Statements, the The Company is not a guarantor or indemnitor of any indebtedness of any other person, firm or corporation.

Obligations to Related Parties. There Except as set forth in the SEC Reports, there are no obligations of the Company to officers, directors, stockholders, stockholders or employees of the Company other than (a) for payment of salary for services rendered, (b) reimbursement for reasonable expenses incurred on behalf of the Company and (c) for other standard employee benefits made generally available to all employees (including stock option agreements outstanding under any stock option plan approved by the Board of Directors of the Company). None Except as set forth in the SEC Reports, none of the officers, directors or stockholders of the Company, or any members of their immediate families, are indebted to the Company Company. Except as set forth in the SEC Reports, none of the officers, directors or, to the best of the Company's knowledge, key employees or stockholders of the Company or any members of their immediate families, are indebted to the Company or have any direct or indirect ownership interest in any firm or corporation with which the Company is affiliated or with which the Company has a business relationship, or any firm or corporation which competes with the Company, except that officers, directors and/or stockholders of the Company may own stock other than passive investments in publicly traded companies (representing less than 1% of such company) which may compete with the Company. No Except as set forth in the SEC Reports, no officer, director or stockholder, or any member of their immediate families, is, directly or indirectly, interested in any material contract with the Company (other than such contracts as relate to and no agreements, understandings or proposed transactions are contemplated between the Company and any such person's ownership of capital stock or other securities of the Company). Except as may be disclosed set forth in the Financial StatementsSEC Reports, the Company is not a guarantor or indemnitor of any indebtedness of any other person, firm or corporation.

Obligations to Related Parties. There are no obligations of the Company to officers, directors, stockholders, stockholders or employees of the Company other than (a) for payment of salary for services rendered, (b) reimbursement for reasonable expenses incurred on behalf of the Company and (c) for other standard employee benefits made generally available to all employees (including stock option agreements outstanding under any stock option plan approved by the Board of Directors of the Company). None With the exception of a Canadian $14,000 loan to a vice president of the Company, with interest payable at prime plus 1%, none of the officers, directors or stockholders of the Company, or any members of their immediate families, are indebted to the Company Company. None of the officers, directors or, to the Company's knowledge, key employees or stockholders of the Company or any members of their immediate families, are indebted to the Company or have any direct or indirect ownership interest in any firm or corporation with which the Company is affiliated or with which the Company has a business relationship, other than with respect to Softtalk, or any firm or corporation which competes with the Company, except that officers, directors and/or stockholders of the Company may own stock other than passive investments in publicly traded companies (representing less than 1% of such company) which may compete with the Company. No officer, director or stockholder, or any member of their immediate families, is, directly or indirectly, interested in any material contract with the Company (other than such contracts as relate to and no agreements, understandings or proposed transactions are contemplated between the Company and any such person's ownership of capital stock or other securities of the Company). Except as may be disclosed in the Financial Statements, the The Company is not a guarantor or indemnitor of any indebtedness of any other person, firm or corporation.

Obligations to Related Parties. There are no All obligations of the Company to officers, directors, stockholdersshareholders, or employees of the Company other than (a) for payment of salary for services rendered, (b) reimbursement for reasonable expenses incurred on behalf of the Company and (c) for other standard employee benefits made generally available to all employees (including stock option agreements outstanding under any stock option plan approved by the Board of Directors of the Company). ) are set forth in Exhibit E. None of the officers, directors or stockholders shareholders of the Company, or any members of their immediate families, are indebted to the Company or, to the Company's knowledge, or have any direct or indirect ownership interest in any firm or corporation with which the Company is affiliated or with which the Company has a business relationship, or any firm or corporation which competes with the Company, except that officers, directors and/or stockholders shareholders of the Company may own stock in publicly traded companies which may compete with the Company. No officer, director or stockholdershareholder, or any member of their immediate families, isis a party to or, directly or indirectly, interested in any material contract with the Company (other than such contracts as relate to any such person's ownership of capital stock or other securities of the Company). Except as may be disclosed in the Financial Statements, the Company is not a guarantor or indemnitor of any indebtedness of any other person, firm or corporation.

Obligations to Related Parties. There Except as set forth in the SEC Reports, there are no obligations of the Company to officers, directors, stockholders, stockholders or employees of the Company other than (a) for payment of salary for services rendered, (b) reimbursement for reasonable expenses incurred on behalf of the Company and Company, (c) for other standard employee benefits made generally available to all employees (including stock option agreements outstanding under any stock option plan approved by the Board of Directors of the Company)) and (d) obligations listed in the Company's financial statements. None of the officers, directors or stockholders of the Company, or any members of their immediate families, are indebted to the Company Company. Except as described above, none of the officers, directors or, to the best of the Company's knowledge, key employees or stockholders of the Company or any members of their immediate families, are indebted to the Company or have any direct or indirect ownership interest in any firm or corporation with which the Company is affiliated or with which the Company has a business relationship, or any firm or corporation which competes with the Company, except that officers, directors and/or stockholders of the Company may own stock other than passive investments in publicly traded companies (representing less than 1% of such company) which may compete with the Company. No Except as described above, no officer, director or stockholder, or any member of their immediate families, is, directly or indirectly, interested in any material contract with the Company (other than such contracts as relate to and no agreements, understandings or proposed transactions are contemplated between the Company and any such person's ownership of capital stock or other securities of the Company). Except as may be disclosed in the Financial Statements, the The Company is not a guarantor or indemnitor of any indebtedness of any other person, firm or corporation.

Obligations to Related Parties. There are no obligations of the Company to officers, directors, stockholders, or employees of the Company other than (a) for a)for payment of salary compensation for services rendered, (b) reimbursement for reasonable expenses incurred on behalf of the Company and (c) for other standard employee benefits made generally available to all employees (including stock option agreements outstanding under any stock option plan approved by the Board of Directors of the Company). None of the officers, directors or stockholders of the Company, or any members of their immediate families, are indebted to the Company or, to the Company's knowledge, or have any direct or indirect ownership interest in any firm or corporation with which the Company is affiliated or with which the Company has a business relationship, or any firm or corporation which competes with the Company, except that officers, directors and/or stockholders of the Company may own up to 5% of the capital stock in of publicly traded companies which may compete with the Company. No officer, director or stockholder, or any member of their immediate families, is, directly or indirectly, to the knowledge of the Company, interested in any material contract with the Company (other than such contracts as relate to any such person's ownership of capital stock or other securities of the Company). Except as may be disclosed in the Financial StatementsStatements or Schedule 5.8, the Company is not a guarantor or indemnitor of any indebtedness of any other person, firm or corporation, other than its subsidiaries.

Obligations to Related Parties. There are no obligations of the Company to officers, directors, stockholders, or employees of the Company other than (a) for payment of salary compensation for services rendered, (b) reimbursement for reasonable expenses incurred on behalf of the Company and (c) for other standard employee benefits made generally available to all employees (including stock option agreements outstanding under any stock option plan approved by the Board of Directors of the Company). None of the officers, directors or stockholders of the Company, or any members of their immediate families, are indebted to the Company or, to the Company's knowledge, or have any direct or indirect ownership interest in any firm or corporation with which the Company is affiliated or with which the Company has a business relationship, or any firm or corporation which competes with the Company, except that officers, directors and/or stockholders of the Company may own up to 5% of the capital stock in of publicly traded companies which may compete with the Company. No officer, director or stockholder, or any member of their immediate families, is, directly or indirectly, to the knowledge of the Company, interested in any material contract with the Company (other than such contracts as relate to any such person's ownership of capital stock or other securities of the Company). Except as may be disclosed in the Financial Statements, the Company is not a guarantor or indemnitor of any indebtedness of any other person, firm or corporation.any

Obligations to Related Parties. There Except as set forth in the SEC Reports, there are no obligations of the Company to officers, directors, stockholders, stockholders or employees of the Company other than (a) for payment of salary for services rendered, (b) reimbursement for reasonable expenses incurred on behalf of the Company and (c) for other standard employee benefits made generally available to all employees (including stock option agreements outstanding under any stock option plan approved by the Board of Directors of the Company). None Except as set forth in the SEC Reports, none of the officers, directors or stockholders of the Company, or any members of their immediate families, are indebted to the Company Company. Except as set forth in the SEC Reports, none of the officers, directors or, to the best of the Company's ’s knowledge, key employees or stockholders of the Company or any members of their immediate families, are indebted to the Company or have any direct or indirect ownership interest in any firm or corporation with which the Company is affiliated or with which the Company has a business relationship, or any firm or corporation which competes with the Company, except that officers, directors and/or stockholders of the Company may own stock other than passive investments in publicly traded companies (representing less than 1% of such company) which may compete with the Company. No Except as set forth in the SEC Reports, no officer, director or stockholder, or any member of their immediate families, is, directly or indirectly, interested in any material contract with the Company (other than such contracts as relate to and no agreements, understandings or proposed transactions are contemplated between the Company and any such person's ownership of capital stock or other securities of the Company). Except as may be disclosed set forth in the Financial StatementsSEC Reports, the Company is not a guarantor or indemnitor of any indebtedness of any other person, firm or corporation.

Obligations to Related Parties. There Except as disclosed in Section 3.10 of the Schedule of Exceptions, there are no obligations of the Company to officers, directors, stockholders, or employees of the Company other than (a) for payment of salary for services rendered, (b) reimbursement for reasonable expenses incurred on behalf of the Company and (c) for other standard employee benefits made generally available to all employees (including stock option agreements outstanding under any stock option plan approved by the Board of Directors of the Company). None of the officers, directors or stockholders of the Company, or any members of their immediate families, are indebted to the Company. Except as disclosed in Section 3.10 of the Schedule of Exceptions, none of (i) the officers or directors of the Company oror any members of their immediate families, or (ii) to the Company's ’s knowledge, the key employees of the Company or any members of their immediate families, are indebted to the Company or have any direct or indirect ownership interest in any firm or corporation with which the Company is affiliated or with which the Company has a business relationship, or any firm or corporation which competes with the Company, except that officers, directors and/or stockholders of the Company may own stock other than passive investments in publicly traded companies (representing less than one percent (1%) of such company) which may compete with the Company. No officer, director or stockholder, or any member of their immediate families, is, directly or indirectly, interested in any material contract with the Company (other than such contracts as relate to any such person's ’s ownership of capital stock or other securities of the Company). Except as may be disclosed in the Financial Statements, the Company is not a guarantor or indemnitor of any indebtedness of any other person, firm or corporation.

Obligations to Related Parties. There Except as disclosed in the Commission Filings, there are no obligations of the Company to officers, directors, stockholders, or employees of the Company other than (a) for payment of salary for services rendered, (b) reimbursement for reasonable expenses incurred on behalf of the Company and (c) for other standard employee benefits made generally available to all employees (including stock option agreements outstanding under any stock option plan approved by the Board of Directors of the Company). None Except as disclosed in the Commission Filings, none of the officers, directors or stockholders of the Company, or any members of their immediate families, are indebted to the Company or, to the Company's knowledge, or have any direct or indirect ownership interest in or management, employment or consulting position or arrangement with any firm or corporation with which the Company is affiliated or with which the Company has a business relationship, or any firm or corporation which competes with the Company. Except as disclosed in the Commission Filings, except that officers, directors and/or stockholders of the Company may own stock in publicly traded companies which may compete with the Company. No no officer, director or stockholder, or any member of their immediate families, is, directly or indirectly, interested in any material contract with the Company (other than such contracts as relate to any such person's ownership of capital stock or other securities of the Company). Except as may be disclosed in the Financial Statements, the Company is not a guarantor or indemnitor of any indebtedness of any other person, firm or corporation.

Obligations to Related Parties. There are no obligations of the Company to officers, directors, stockholders, or employees of the Company other than (ai) for payment of salary for services rendered, rendered since the commencement of the Company's most recent payroll period; (bii) reimbursement for reasonable expenses incurred on behalf of the Company and Company; (ciii) for other standard employee benefits made generally available to all employees employees; and (including stock option agreements outstanding under any stock option plan approved by the Board of Directors of iv) certain loans from Xxxxx Xxxx, Xxxxxx Xxxxxxxx and Xxxxx Xxxxx to the Company). None Except as disclosed on the Disclosure Schedule hereto, none of the officers, directors or stockholders of the Company, or any members of their immediate families, are indebted to the Company or, to the Company's knowledge, or have any direct or indirect ownership interest in any firm or corporation with which the Company is affiliated or with which the Company has a business relationship, or any firm or corporation which competes with the Company, except that officers, directors and/or stockholders of the Company may own stock in publicly traded companies which may compete with the Company. No officer, director or stockholder, or any member of their immediate families, is, directly or indirectly, interested in any material contract with the Company (other than such contracts as relate to any such person's ownership of capital stock or other securities of the Company). Except as may be disclosed in the Financial Statements, the Company is not a guarantor or indemnitor of any indebtedness of any other person, firm or corporation.

Obligations to Related Parties. There Except for debt owed to the former ------------------------------ owners of Ventec, Inc., there are no obligations of the Company to officers, directors, stockholdersshareholders, or employees of the Company other than than: (a) for payment of salary for services rendered, (b) reimbursement for reasonable expenses incurred on behalf of the Company and (c) for other standard employee benefits made generally available to all employees (including stock option agreements outstanding under any stock option plan approved by the Board of Directors of the Company). None Except as disclosed in Schedule 3.7(c)(iii) none of the officers, directors or stockholders shareholders of the -------------------- Company, or any members of their immediate families, are indebted to the Company or, to the Company's knowledge, or have any direct or indirect ownership interest in any firm or corporation with which the Company is affiliated or with which the Company has a business relationship, or any firm or corporation which competes with the Company, except that officers, directors and/or stockholders shareholders of the Company may own stock in publicly traded companies which may compete with the Company. No officer, director or stockholdershareholder, or any member of their immediate families, is, directly or indirectly, interested in any material contract with the Company (other than such contracts as relate to any such person's ownership of capital stock or other securities of the Company). Except as may be disclosed in the Financial Statements, the Company is not a guarantor or indemnitor of any indebtedness of any other person, firm or corporation.