Common use of Employee Benefit Plans and Other Plans Clause in Contracts

Employee Benefit Plans and Other Plans. A. The Unify Employee Benefits Schedule contains a true, correct and complete list of all Employee Plans which cover or have covered employees or former employees of the NavRisk Business (including, without limitation, all Employee Plans which cover or have covered employees of Acuitrek). True and complete copies of each of the following documents have been made available by Unify to Halo: (i) the current version of each Welfare Plan and Pension Plan and the current summary plan description and any subsequent summaries of material modifications thereof, and (ii) the current version of each Employee Plan and the current summary plan description and any subsequent summaries of material modifications thereof and a complete description of any Employee Plan which is not in writing. B. Neither Unify, Acuitrek nor any ERISA Affiliate contributes to or has any obligation to contribute, or has contributed to or had any obligation to contribute, to any Multiemployer Plan with respect to any current or former employee. C. Each Welfare Plan which covers or has covered employees or former employees of the NavRisk Business (including, without limitation, all Employee Welfare Plans which cover or have covered employees of Acuitrek) and which is a “group health plan,” as defined in Section 607(1) of ERISA, has been operated in compliance with provisions of COBRA (if applicable) at all times. D. No event has occurred in connection with, or arising out of, the establishment, operation, administration, or termination of any Employee Plan or the transactions contemplated by this Agreement which could subject Unify, Acuitrek or any ERISA Affiliate or any Employee Plan or any NavRisk Assets or ViaMode Assets, directly or indirectly, to any material liability (i) under any Law relating to any Employee Plans or (ii) pursuant to any obligation of Unify or Acuitrek to indemnify any person against liability incurred under any such Law as they relate to the Employee Plans. E. No Employee Plan is subject to Title IV of ERISA or Section 412 of the Code.”

Appears in 2 contracts

Samples: Purchase and Exchange Agreement (Unify Corp), Purchase and Exchange Agreement (Halo Technology Holdings, Inc.)

AutoNDA by SimpleDocs

Employee Benefit Plans and Other Plans. A. The Unify Employee Benefits Schedule contains a true, correct and complete list of all Employee Plans which cover or have covered employees or former employees of the NavRisk Business (including, without limitation, all Employee Plans which cover or have covered employees of Acuitrek)any Gupta Entity. True and complete copies of each of the following documents have been made available by Unify Halo to HaloUnify: (i) the current version of each Welfare Plan and Pension Plan applicable to employees of the Gupta Entities and the current summary plan description and any subsequent summaries of material modifications thereof, and (ii) the current version of each Employee Plan applicable to employees of the Gupta Entities and the current summary plan description and any subsequent summaries of material modifications thereof and a complete description of any Employee Plan applicable to employees of the Gupta Entities which is not in writing. B. Neither Unify, Acuitrek Halo nor any ERISA Affiliate contributes to or has any obligation to contribute, or has contributed to or had any obligation to contribute, to any Multiemployer Plan with respect to any current or former employeeemployee of any Gupta Entities. C. Each Welfare Plan which covers or has covered employees or former employees of the NavRisk Business (including, without limitation, all Employee Welfare Plans which cover or have covered employees of Acuitrek) Gupta Entities and which is a “group health plan,” as defined in Section 607(1) of ERISA, has been operated in compliance with provisions of COBRA (if applicable) at all times. D. No event has occurred in connection with, or arising out of, the establishment, operation, administration, or termination of any Employee Plan applicable to employees of the Gupta Entities or the transactions contemplated by this Agreement which could subject Unify, Acuitrek Halo or any ERISA Affiliate or any Employee Plan or any NavRisk Assets or ViaMode Assetsapplicable to employees of the Gupta Entities, directly or indirectly, to any material liability (i) under any Law relating to any Employee Plans or (ii) pursuant to any obligation of Unify or Acuitrek Halo to indemnify any person against liability incurred under any such Law as they relate to the Employee PlansPlans applicable to employees of the Gupta Entities. E. No Employee Plan applicable to employees of the Gupta Entities is subject to Title IV of ERISA or Section 412 of the Code.

Appears in 2 contracts

Samples: Purchase and Exchange Agreement (Halo Technology Holdings, Inc.), Purchase and Exchange Agreement (Unify Corp)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!