The following Corporate precedent provides comprehensive and up to date legal information covering:
Replace Schedule 4, paragraph 19 of Precedent: Share purchase agreement—pro-buyer—corporate seller—conditional—long form with the following:
Except as provided for by the Pension Scheme, the Company is not and has never participated in an arrangement or agreement to provide pensions, annuities, lump sums, gratuities or similar benefits on retirement, long-term ill-health or death, or pursuant to a pension sharing order, in relation to the service or historic service of a present or former employee of the Company or any other person, or for the benefit of that individual’s dependents.
All benefits under the Pension Scheme are provided on a money purchase basis. No assurance, guarantee or promise has been made to any employee of the Company as to the amount of benefits to be provided under the Pension Scheme.
Copies of the following documents have been Fairly Disclosed to the Buyer:
the governing documentation of the Pension Scheme including the trust deed and rules and all ancillary and accompanying deeds;
all explanatory booklets, correspondence and announcements (other than individual benefit statements) issued to members of the Pension Scheme;
membership information for the current active members of the Pension Scheme including all details necessary to establish the contributions payable to, or in respect of, each individual; and
full details of all benefits and entitlement to benefits under the Pension Scheme.
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