Common use of Existing Plans Clause in Contracts

Existing Plans. Except for the Employee Benefit Plans of the ZERO Companies identified as the "Existing Plans" on the Disclosure Schedule, none of the ZERO Companies maintain, nor is bound by, any Employee Benefit Plan. All of the Existing Plans are, to the extent applicable, in compliance in all material respects with ERISA, the Code and all other applicable Laws. All of the Existing Plans which are intended to meet the requirements of Section 401(a) or 403(a) of the Code have been determined to be "qualified" within the meaning of the Code, and, to the Knowledge of ZERO, there are no facts which would adversely affect the qualified status of any of such Existing Plans. Each Existing Plan has been administered in all material respects in accordance with its terms and is in compliance in all material respects with all applicable Laws. Any Employee Benefit Plan that is not an Existing Plan that has been terminated was done so in compliance in all material respects with all applicable Laws, and, to the Knowledge of ZERO, there is no basis for further liability or obligation of any ZERO Company pursuant to any past Employee Benefit Plan.

Existing Plans. Except for the Employee Benefit Plans of SeaMED identified on the ZERO Companies identified Disclosure Schedule or filed as exhibits to the SeaMED SEC Reports (the "Existing Plans" on the Disclosure Schedule"), none of the ZERO Companies SeaMED does not maintain, nor is it bound by, any Employee Benefit Plan. All of the Existing Plans are, to the extent applicable, in compliance in all material respects with ERISA, the Code and all other applicable Laws. All of the Existing Plans which are intended to meet the requirements of Section 401(a) or 403(a) of the Code have been determined to be "qualified" within the meaning of the Code, and, to the Knowledge of ZEROSeaMED, there are no facts which would adversely affect the qualified status of any of such Existing Plans. Each Existing Plan has been administered in all material respects in accordance with its terms and is in compliance in all material respects with all applicable Laws. Any Employee Benefit Plan that is not an Existing Plan that has been terminated was done so in compliance in all material respects with all applicable Laws, and, to the Knowledge of ZEROSeaMED, there is no basis for further liability or obligation of any ZERO Company SeaMED pursuant to any past Employee Benefit Plan.