Modification or Termination of Plans. Except as may be required by applicable law, neither the Company nor any subsidiary of the Company is subject to any legal, contractual, equitable or other obligation to establish or contribute to as of any date any new Company Benefit Plan or amend any existing Company Benefit Plan.
Modification or Termination of Plans. Except as disclosed in Section 4.1(l)(10) of the ONEOK Disclosure Schedule or as required pursuant to a collective bargaining agreement or as required to secure a favorable determination letter from the IRS, neither ONEOK nor any ONEOK Affiliate is subject to any legal obligation, or has any formal plan, to enter into any form of material compensation or employment agreement or to establish any employee benefit plan of any nature, including (without limitation) any pension, profit sharing, welfare, post-retirement welfare, stock option, stock or cash award, non-qualified deferred compensation or executive compensation plan, policy or practice or to modify or change any existing ONEOK Benefit Plan and, to the knowledge of ONEOK, there has been no communication to employees by ONEOK or any ONEOK Affiliate that would reasonably be expected to promise or guarantee such employees retiree health or life insurance benefits on a permanent basis.
Modification or Termination of Plans. Except as disclosed in Section 4.2(m)(10) of the WRI Disclosure Schedule or as required pursuant to a collective bargaining agreement or as required to secure a favorable determination letter from the IRS, neither WRI nor any WRI Affiliate is subject to any legal obligation, or has any formal plan, to enter into any form of material compensation or employment agreement or to establish any employee benefit plan of any nature which would reasonably be expected to result in liability to NewCorp or in which Continuing Employees or Retired Employees may participate, including (without limitation) any pension, profit sharing, welfare, post-retirement welfare, stock option, stock or cash award, non-qualified deferred compensation or executive compensation plan, policy or practice or to modify or change any existing WRI Benefit Plan in which Continuing Employees or Retired Employees participate and, to the knowledge of WRI, there has been no communication to Continuing Employees or Retired Employees by WRI or any WRI Affiliate that would reasonably be expected to promise or guarantee such employees retiree health or life insurance benefits on a permanent basis.
Modification or Termination of Plans. Except as set forth in Section 4.10(j) of the Sierra Pacific Disclosure Schedule, (i) neither Sierra Pacific nor any subsidiary of Sierra Pacific is subject to any legal, contractual, equitable or other obligation to establish or contribute to as of any date any new Sierra Pacific Benefit Plan or amend any existing Sierra Pacific Benefit Plan; and (ii) to the best knowledge of Sierra Pacific or any of its subsidiaries after review of all plan documents, Sierra Pacific and each of its subsidiaries may (except to the extent prohibited by applicable law), in any manner, and without the consent of any employee, beneficiary or dependent, employees' organization or other person, terminate, modify or amend each Sierra Pacific Benefit Plan (or its participation in any such Sierra Pacific Benefit Plan) at any time sponsored, maintained or contributed to by Sierra Pacific or any of its subsidiaries effective as of any date before, on or after the Effective Time.
Modification or Termination of Plans. Except as set forth in Section 5.10(j) of the Nevada Power Disclosure Schedule: (A) neither Nevada Power nor any subsidiary of Nevada Power is subject to any legal, contractual, equitable or other obligation to establish or contribute to as of any date any new Nevada Power Benefit Plan or amend any existing Nevada Power Benefit Plan; and (B) to the best knowledge of Nevada Power and each of its subsidiaries after review of all plan documents, Nevada Power and each of its subsidiaries may (except to the extent prohibited by applicable law), in any manner, and without the consent of any employee, beneficiary or dependent, employees' organization or other person, terminate, modify or amend each Nevada Power Benefit Plan (or its participation in any such Nevada Power Benefit Plan) at any time sponsored, maintained or contributed to by Nevada Power or any of its subsidiaries effective as of any date before, on or after the Effective Time.
