(a) Schedule 2.7 (a) of the Disclosure Schedule contains a list setting forth each employee benefit plan, program, policy or arrangement (including any «employee benefit plan» as defined in
Section 3 (3) of the Employee Retirement Income Security Act of 1974, as amended («ERISA»)(«ERISA Plan»)-RRB-, including, without limitation, employee pension benefit plans, as defined in
Section 3 (2) of ERISA, multi-employer plans, as defined in
Section 3 (37) of ERISA, employee welfare benefit plans, as defined in
Section 3 (1) of ERISA, deferred compensation plans, stock option plans, bonus plans, stock purchase plans, fringe benefit plans, life, hospitalization, disability and other insurance plans, severance or termination pay plans and policies, sick pay plans and vacation plans or arrangements, whether or not an ERISA Plan (including any funding mechanism therefore now in effect or required in the future as a result of the transactions contemplated by this Agreement or otherwise), whether formal or informal, oral or written, under which (i) any
current or former employee, director or individual consultant of the Company (collectively, the «Company Employees») has any present or future right to benefits and which are contributed to, sponsored by or maintained by the Company or (ii) the Company or any ERISA Affiliate (as hereinafter defined) has had, has or may have any actual or contingent present or future
liability or obligation.
For each item included in the «Notes Payable to Banks and Others» line of the
Liabilities section — credit card debt, personal loans and lines of credit, cash advances, student loans, car loans, payday loans, etc. — enter the name and address of the creditor, lender, or noteholder, as well as the original balance — $ 0 for credit cards —
current balance, payment amount — you can enter «varies» for credit cards — payment frequency, and if applicable, how the loan is secured (i.e., what is being used as collateral).
The sale of assets used in a trade or business (
Section 1231 Assets) at a loss generally creates an ordinary loss that the corporation can apply to offset
current year taxable income, if any, thereby reducing
current year tax
liability.