Common use of Employee Benefit Plans; Labor and Employment Matters Clause in Contracts

Employee Benefit Plans; Labor and Employment Matters. (a) Sprint Sub LLC and the Transfer Entities do not have, and will not as of the Closing have, any employees or any benefit plans (as defined in Section 3(3) of ERISA). Except as specifically set forth in this Agreement, none of NewCo, NewCo LLC, Sprint Sub LLC or the Transfer Entities will have any actual or contingent liability after the Closing as a result of benefit plans, incentive plans or other material benefit arrangements that are sponsored or contributed to by Sprint or any of its Subsidiaries or that have ever been sponsored by or contributed to by any of the Transfer Entities.