(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.
We believe that our named executives» compensation program, including competitive annual and long - term incentive pay along with comprehensive team member retirement, health care,
disability, group life
insurance plans, and other welfare
benefits offered to team members, provides adequate reward to our executives
without the need for significant additional perquisites.
If the
disability insurance company covered the person with the back problem at the same costs and
benefits as the person
without the back problem, then people with back problems would flock to that carrier, the carrier would incur huge claims, and likely become insolvent.