Common use of Plans and Documents Clause in Contracts

Plans and Documents. For purposes of this Agreement, “Purchaser Plans” shall mean: (i) all employee benefit plans and all bonus, stock option, stock purchase, restricted stock, incentive, deferred compensation, retiree medical or life insurance, supplemental retirement, severance or other benefit plans, programs or arrangements and all employment, termination, severance or other contracts or agreements, to which the Purchaser or any Purchaser Subsidiary is a party, with respect to which the Purchaser or any Purchaser Subsidiary has any obligation or which are maintained, contributed to or sponsored by the Purchaser or any Purchaser Subsidiary for the benefit of any current or former employee, officer or director of the Purchaser or any Purchaser Subsidiary and (ii) each employee benefit plan for which the Purchaser or any Purchaser Subsidiary has any actual or contingent liability. The Purchaser has made available to the Seller a complete and accurate copy of each Purchaser Plan, including (if applicable) (A) each trust or other funding arrangement related to such Purchaser Plan, and (B) the most recently prepared actuarial report and financial statement for such Purchaser Plan. Neither the Purchaser nor any Purchaser Subsidiary has any legally binding commitment (I) to create, incur material liability with respect to or cause to exist, any other material employee benefit plan, program or arrangement, (II) to enter into any contract or agreement to provide material compensation or material benefits to any individual or (III) to modify, change or terminate any material Purchaser Plan, other than, in each case of clause (I), (II) or (III) above, with respect to a modification, change or termination required by applicable Law or by the terms of any Purchaser Plan, or with respect to the regularly scheduled renewal or extension, in the ordinary course of business consistent with past practice, of any Purchaser Plan.