Parent shall, or shall cause the Surviving Entity to, honor all employee benefit obligations to Employees receiving disability payments or on disability status or with outstanding balances or claims, as applicable, at the Effective Time under the Company Group Health and Lower Tax Plan and the Company Group Life and Disability Plan (both of which are listed in Section 5.1(h)(i) of the Company Disclosure Schedule).
On the treatment of the sale profit as capital gain or ordinary income, see Shapiro & Lemiech, Tax Plan- ning the Condominium Conversion-Analysis of Capital Gain Possibilities, 1 J.
The Holder expects to become an "Acquiring Person" as defined in the Tax Plan and expects to beneficially own (whether held as registered Common Shares or through one or more nominees) greater than 650,000 Common Shares taking into account Common Shares received in the Rights Offering (but excluding warrants to purchase Common Shares (the "Warrants").
The Holder [is] [is not] currently a Grandfathered Person as defined in the Tax Plan.
Tax Benefit Preservation Plan (the "Tax Plan"), this letter is the formal request for an exemption to allow additional purchases of common shares of the Company ("Common Shares") by [ ] (the "Holder") to avoid the issuance of rights to purchase additional Common Shares to shareholders of the Company holding shares as of the closing of such transaction (other than the Holder).