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. (b) With respect to the Sprint WiMAX Business, neither Sprint nor any of its Subsidiaries is a party to, bound by, or is currently negotiating in connection with entering into any collective bargaining agreement or other contracts, arrangements, agreements or understandings with a labor union or labor organization and, to the Knowledge of Sprint, there has not been any activity or proceeding of any labor organization or employee group to organize any employees of the Sprint WiMAX Business.
Appears in 4 contracts
Samples: Transaction Agreement and Plan of Merger, Transaction Agreement and Plan of Merger (New Clearwire CORP), Transaction Agreement and Plan of Merger (Sprint Nextel Corp)
