Pension Claims Sample Clauses
Pension Claims. The Sellers and ARAPP GmbH have dealt with respect to the various pension commitments given by ARAPP GmbH as follows:
6.1.1 The Seller 1 and ARAPP GmbH have entered on April 13, 2015 into an agreement according to which Seller 1 has exercised his lump sum payment option resulting from the pension commitment in favor of Seller 1 in consideration for the payment of an amount equaling the provision for such commitment in the ARAPP GmbH 2014 Financials. A copy of such agreement is attached hereto as Schedule 6.
1.1. The amount payable to Seller 1 in accordance thereto has already been paid withholding;the wage withholding tax applying thereto.
6.1.2 Seller 2, ARAPP GmbH and MK Immobilien GbR have on April 13, 2015 entered into an agreement according to which MK Immobilien GbR has assumed (i) all liabilities of ARAPP GmbH vis-à-vis Seller 2 resulting from the pension commitment given in his favor and (ii) all claims vested in ARAPP GmbH resulting from the insurance coverage purchased therefor. A copy of such agreement is attached hereto as Schedule 6.1.2.
6.1.3 Seller 3 and ARAPP GmbH have on April 13, 2015 entered into an agreement according to which Seller 3 "as shareholder" has waived all of his claims against ARAPP GmbH resulting from the pension commitment given in his favor against assignment of all claims vested in ARAPP GmbH resulting from the insurance coverage purchased therefor. A copy of such agreement is attached hereto as Schedule 6.1.3.
6.1.4 MK Immobilien GbR and ARAPP GmbH have on April 13, 2015 entered into an agreement according to which MK Immobilien GbR has assumed all liabilities of ARAPP GmbH resulting from its pension commitment given in favor of ▇▇. ▇▇▇▇ ▇▇▇▇▇▇▇▇▇ on July 1, 1978 which entitles his widow ▇▇▇. ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇, and have undertaken to hold ARAPP GmbH harmless against any claims raised by ▇▇▇. ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ in consideration for the payment of an amount equaling the provision for such commitment in the ARAPP GmbH 2014 Financials. A copy of such agreement is attached hereto as Schedule 6.1.4.
Pension Claims. The arbitration provisions of this Article XXI shall not apply to any claim regarding a pension that is subject to the claims procedure established pursuant to that document titled "Allocation to the Pension Advisory Committee of Responsibilities for the Operation and Administration of Minnesota Orchestral Association Pension Plan for Musicians."