Common use of Nonqualified Plans Clause in Contracts

Nonqualified Plans. Effective as of the Closing Date, the U.S. Purchaser shall assume sponsorship of and all rights, powers, duties, liabilities and obligations of MCI and its Affiliates under and with respect to each of the Reliance Comm/Tec Corporation Supplemental Retirement Plan for Key Employees and the Reliance Comm/Tec Corporation Special Retirement Program for Elected Officers (collectively, the “Supplemental Plans”). The aggregate amount of such assumed liabilities and obligations under the Supplemental Plans have been valued using reasonable actuarial assumptions consistent with U.S. GAAP and the FAS 87 assumptions set forth in the March 31, 2004 footnote disclosure previously provided to the U.S. Purchaser. For periods after the Closing Date, none of MCI or any of its Affiliates shall have any liability under or with respect to either of the Supplemental Plans. Nothing in this Section 11.16 shall relieve MCI or any of its affiliates for breaches of Section 4.17. The Sellers have provided the Purchasers with a copy of the most recent actuarial report for the Supplemental Plans.