Common use of Employee Arrangements; ERISA Clause in Contracts

Employee Arrangements; ERISA. Except as set forth on Schedule 2.1(v) hereto, the Company has (i) no union, collective bargaining, employment, management, severance or consulting agreements to which the Company is a party or is otherwise bound, and (ii) no deferred compensation agreements, pension and retirement plans, profit-sharing plans, stock purchase and stock option plans. Schedule 2.1(v) hereto contains a true and complete list of all compensation, incentive, bonus, severance, disability, hospitalization, medical insurance, life insurance and other employee benefit plans, programs or arrangements maintained by the Company or under which the Company has any material obligations (other than obligations to make current wage or salary payments) in respect of, or that otherwise cover, any of the current or former officers, employees or consultants of the Company, or their beneficiaries (each an “Employee Benefit Plan” and collectively the “Employee Benefit Plans”). No Employee Benefit Plan is subject to Title IV of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), or Section 412 of the Code. All contributions to and payments from the Employee Benefit Plans that may have been required to be made in accordance with the Employee Benefit Plans have been made or are properly accrued and reflected on the balance sheets or the books and records of the Company. Schedule 2.1(v) hereto also lists the names, compensation and all accrued and unused vacation and sick time of all persons employed by the Company. The Company has no Employee Benefit Plans that are qualified for Federal income tax exemption under Sections 401 and 501 of the Code.

Employee Arrangements; ERISA. Except as set forth on Schedule 2.1(v) hereto, the Company has (i) no union, collective bargaining, employment, management, severance or consulting agreements to which the Company is a party or is otherwise bound, and (ii) no deferred compensation agreements, pension and retirement plans, profit-sharing plans, stock purchase and stock option plans. Schedule 2.1(v) hereto contains a true and complete list of all compensation, incentive, bonus, severance, disability, hospitalization, medical insurance, life insurance and other employee benefit plans, programs or arrangements maintained by the Company or under which the Company has any material obligations (other than obligations to make current wage or salary payments) in respect of, or that otherwise cover, any of the current or former officers, employees or consultants of the Company, or their beneficiaries (each an “Employee Benefit Plan” "EMPLOYEE BENEFIT PLAN" and collectively the “Employee Benefit Plans”"EMPLOYEE BENEFIT PLANS"). No Employee Benefit Plan is subject to Title IV of the Employee Retirement Income Security Act of 1974, as amended (“"ERISA”"), or Section 412 of the Code. All contributions to and payments from the Employee Benefit Plans that may have been required to be made in accordance with the Employee Benefit Plans have been made or are properly accrued and reflected on the balance sheets or the books and records of the Company. Schedule 2.1(v) hereto also lists the names, compensation and all accrued and unused vacation and sick time of all persons employed by the Company. The Company has no Employee Benefit Plans that are qualified for Federal income tax exemption under Sections 401 and 501 of the Code.

Employee Arrangements; ERISA. Except as set forth on Schedule 2.1(v) hereto, the Company has (i) no union, collective bargaining, employment, management, severance or consulting agreements to which the Company is a party or is otherwise bound, and (ii) no deferred compensation agreements, pension and retirement plans, profit-sharing plans, stock purchase and stock option plans. Schedule 2.1(v) hereto contains a true and complete list of all compensation, incentive, bonus, severance, disability, hospitalization, medical insurance, life insurance and other employee benefit plans, programs or arrangements maintained by the Company or under which the Company has any material obligations (other than obligations to make current wage or salary payments) in respect of, or that otherwise cover, any of the current or former officers, employees or consultants of the Company, or their beneficiaries (each an “Employee Benefit Plan” and collectively the “Employee Benefit Plans”). No Employee Benefit Plan is subject to Title IV of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), or Section 412 of the Code. All contributions to and payments from the Employee Benefit Plans that may have been required to be made in accordance with the Employee Benefit Plans have been made or are properly accrued and reflected on in the balance sheets schedules or the books and records of the Company. Schedule 2.1(v) hereto also lists the names, compensation and all accrued and unused vacation and sick time of all persons employed by the Company. The Company has no Employee Benefit Plans that are qualified for Federal income tax exemption under Sections 401 and 501 of the Code.