Scient’x US Benefit Plans Sample Clauses

Scient’x US Benefit Plans. With respect, as applicable, to Scient’x US Benefit Plans: (i) Scient’x has delivered or made available to Issuer true and complete copies of the following documents with respect to each Scient’x US Benefit Plan, to the extent applicable: (A) the current plan or arrangement documents; (B) summary plan descriptions; and (C) the current employee manual or handbook containing personnel or employee relations policies. (ii) The only Qualified Plan currently in operation is the Scient’x USA 401(k) Profit Sharing Plan and Trust. All Qualified Plans have current determination or opinion letters from the United States Internal Revenue Service (the “IRS”), no such determination or opinion letter has been revoked and, to the knowledge of the Sellers, revocation has not been threatened, and no act or omission has occurred that would reasonably be expected to results in the Qualified Plan’s disqualification. Each Scient’x US Benefit Plan has been maintained in all material respects in accordance with its constituent documents and with all applicable provisions of domestic and foreign Laws, including federal and state securities Laws and any reporting and disclosure requirements. With respect to each Scient’x US Benefit Plan, to the knowledge of the Sellers, (A) no transactions prohibited by Section 4975 of the Code or Section 406 of ERISA have occurred; and (B) no security issued by Scient’x or any ERISA Affiliate is an asset of an Scient’x US Benefit Plan. (iii) Neither Scient’x nor any ERISA Affiliate of Scient’x has ever maintained, sponsored, been required to contribute to or had any liability with respect to any pension plan subject to Title IV of ERISA. (iv) Each Scient’x US Benefit Plan can be amended or terminated by Scient’x at any time (other than for benefits accrued through the date of termination or amendment and reasonable administrative expenses related thereto). (v) There are no pending claims (other than routine benefit claims and qualified domestic relations orders within the meaning of Section 414(p) of the Code) or lawsuits that have been asserted or instituted by, against or relating to, any Scient’x US Benefit Plans . To the knowledge of the Sellers, no Scient’x US Benefit Plan is currently or, since January 1, 2008, has been under audit or examination by any domestic or foreign governmental agency or entity (including the IRS and the Department of Labor). (vi) No Scient’x US Benefit Plan contains any provision that, as a result of the transaction...