Common use of Stock Option Plans; Employee Benefits Clause in Contracts

Stock Option Plans; Employee Benefits. (a) FTZ does not have any stock option or similar plan requiring or providing for the grant by FTZ of stock options to directors, officers or employees. (b) Except as set forth on Part 2.23 of the FTZ Disclosure Schedule, FTZ does not have any employee benefit plans or arrangements covering their present and former employees or providing benefits to such persons in respect of services provided to FTZ. FTZ has no commitment, whether formal or informal and whether legally binding or not, to create any additional plan, arrangement or practice similar to the Approved Plans. (c) The consummation of the transactions contemplated hereby will not result in (i) any payment (including, without limitation, severance, unemployment compensation or bonus payments) becoming due from FTZ or due to any Person, (ii) any increase in the amount of compensation or benefits payable to any Person or (iii) any acceleration of the vesting or timing of payment of any compensation, award or determination of options, warrants, rights, severance payments or other contingent obligations of any nature whatsoever of FTZ in favor of any Person. No agreement, arrangement or other contract of FTZ provides benefits or payments contingent upon, triggered by, or increased as a result of a change in the ownership or effective control of FTZ. (d) FTZ is not a party to or bound by any written or oral agreement or understanding to employ, subsequent to the Closing, any of its respective present or former directors, officers, independent contractors, consultants, agents or employees.

Stock Option Plans; Employee Benefits. (a) FTZ XGN does not have any stock option or similar plan requiring or providing for the grant by FTZ XGN of stock options to directors, officers or employees. (b) Except as set forth on Part 2.23 of the FTZ XGN Disclosure Schedule, FTZ XGN does not have any employee benefit plans or arrangements covering their present and former employees or providing benefits to such persons in respect of services provided to FTZXGN. FTZ XGN has no commitment, whether formal or informal and whether legally binding or not, to create any additional plan, arrangement or practice similar to the Approved Plans. (c) The consummation of the transactions contemplated hereby will not result in (i) any payment (including, without limitation, severance, unemployment compensation or bonus payments) becoming due from FTZ XGN or due to any Person, (ii) any increase in the amount of compensation or benefits payable to any Person or (iii) any acceleration of the vesting or timing of payment of any compensation, award or determination of options, warrants, rights, severance payments or other contingent obligations of any nature whatsoever of FTZ XGN in favor of any Person. No agreement, arrangement or other contract of FTZ XGN provides benefits or payments contingent upon, triggered by, or increased as a result of a change in the ownership or effective control of FTZXGN. (d) FTZ XGN is not a party to or bound by any written or oral agreement or understanding to employ, subsequent to the Closing, any of its respective present or former directors, officers, independent contractors, consultants, agents or employees.

Stock Option Plans; Employee Benefits. (a) FTZ TGD does not have any stock option or similar plan requiring or providing for the grant by FTZ TGD of stock options to directors, officers or employees. (b) Except as set forth on Part 2.23 of the FTZ TGD Disclosure Schedule, FTZ TGD does not have any employee benefit plans or arrangements covering their present and former employees or providing benefits to such persons in respect of services provided to FTZTGD. FTZ TGD has no commitment, whether formal or informal and whether legally binding or not, to create any additional plan, arrangement or practice similar to the Approved Plans. (c) The consummation of the transactions contemplated hereby will not result in (i) any payment (including, without limitation, severance, unemployment compensation or bonus payments) becoming due from FTZ TGD or due to any Person, (ii) any increase in the amount of compensation or benefits payable to any Person or (iii) any acceleration of the vesting or timing of payment of any compensation, award or determination of options, warrants, rights, severance payments or other contingent obligations of any nature whatsoever of FTZ TGD in favor of any Person. No agreement, arrangement or other contract of FTZ TGD provides benefits or payments contingent upon, triggered by, or increased as a result of a change in the ownership or effective control of FTZTGD. (d) FTZ TGD is not a party to or bound by any written or oral agreement or understanding to employ, subsequent to the Closing, any of its respective present or former directors, officers, independent contractors, consultants, agents or employees.

Stock Option Plans; Employee Benefits. (a) FTZ FOI does not have any stock option or similar plan requiring or providing for the grant by FTZ FOI of stock options to directors, officers or employees. (b) Except as set forth on Part 2.23 of the FTZ FOI Disclosure Schedule, FTZ FOI does not have any employee benefit plans or arrangements covering their present and former employees or providing benefits to such persons in respect of services provided to FTZFOI. FTZ FOI has no commitment, whether formal or informal and whether legally binding or not, to create any additional plan, arrangement or practice similar to the Approved Plans. (c) The consummation of the transactions contemplated hereby will not result in (i) any payment (including, without limitation, severance, unemployment compensation or bonus payments) becoming due from FTZ FOI or due to any Person, (ii) any increase in the amount of compensation or benefits payable to any Person or (iii) any acceleration of the vesting or timing of payment of any compensation, award or determination of options, warrants, rights, severance payments or other contingent obligations of any nature whatsoever of FTZ FOI in favor of any Person. No agreement, arrangement or other contract of FTZ FOI provides benefits or payments contingent upon, triggered by, or increased as a result of a change in the ownership or effective control of FTZFOI. (d) FTZ FOI is not a party to or bound by any written or oral agreement or understanding to employ, subsequent to the Closing, any of its respective present or former directors, officers, independent contractors, consultants, agents or employees.