Common use of Employment Agreements and Benefits Clause in Contracts

Employment Agreements and Benefits. (a) Schedule 7.16 hereto is a true and complete list of all agreements or contracts relating to the compensation and other benefits of present and former employees, salesmen, individual consultants, individuals and other individual agents of such Seller relating to the Facility owned by it, including all collective bargaining agreements and all pension, retirement, bonus, stock option, profit sharing, health, disability, life insurance, hospitalization, education or other similar plans or arrangements (whether or not subject to the Employee Retirement Income Security Act of 1974, as amended ("ERISA")), true and complete copies of which, including any trust, insurance or other funding agreements (or true and complete descriptions of which, in the case of oral agreements) have been delivered to Purchaser, (b) such Seller has not contributed to or maintained any "multiemployer plan", as defined in Section 3(37) of ERISA, in respect of present or former employees at the Facility owned by it, and (c) except as set forth in Schedule 7.16 hereto, no such agreements require Purchaser to assume or make payments with respect to any employment, compensation, fringe benefit, pension, profit sharing or deferred compensation plan in respect of any employee or former employee or the dependent or beneficiary of any employee or former employee of such Seller although such Seller will have such liabilities in accordance with the terms of such arrangements to the extent such liabilities exist.

Employment Agreements and Benefits. (a) Schedule 7.16 hereto is a true and complete list of all agreements or contracts relating to the compensation and other benefits of present and former employees, salesmen, individual consultants, individuals and other individual agents of such Seller relating to the Facility owned by itsuch Seller, including all collective bargaining agreements and all pension, retirement, bonus, stock option, profit sharing, health, disability, life insurance, hospitalization, education or other similar plans or arrangements (whether or not subject to the Employee Retirement Income Security Act of 1974, as amended ("ERISA")), true and complete copies of which, including any trust, insurance or other funding agreements (or true and complete descriptions of which, in the case of oral agreements) have been delivered to Purchaser, (b) such Seller has not contributed to or maintained any "multiemployer plan", as defined in Section 3(37) of ERISA, in respect of present or former employees at the Facility owned by itsuch Seller, and (c) except as set forth in Schedule 7.16 hereto, no such agreements require Purchaser to assume or make payments with respect to any employment, compensation, fringe benefit, pension, profit sharing or deferred compensation plan in respect of any employee or former employee or the dependent or beneficiary of any employee or former employee of such Seller although such Seller will have such liabilities in accordance with the terms of such arrangements to the extent such liabilities exist.. [THI TO PROVIDE ADDITIONAL LANGUAGE TO FOLLOW]