Incredimail 2011 Annual Report Download - page 171

(i)
the Company has not (i) acquired, leased or licensed any right or other asset from any other Person, (ii) sold or otherwise disposed of, or leased or
licensed, any right or other asset to any other Person, or (iii) waived or relinquished any right, except, in each case, for rights or other assets acquired, leased, licensed
or disposed of under $10,000 in the ordinary course of business and consistent with the Company’s past practices;
(j)
the Company has not, (i) written off as uncollectible, or established any extraordinary reserve with respect to, any Account Receivable or other
indebtedness, or (ii) written off or written down, or made any determination to write off, write down or otherwise revalue, any other of its assets or properties, or
changed any reserves or liabilities associated therewith;
(k) the Company has not made any pledge of any of its assets or otherwise permitted any of its assets to become subject to any Encumbrance;
(l)
the Company has not (i) lent money to any Person (other than pursuant to routine advances made to employees in the ordinary course of
business), or (ii) incurred or guaranteed any indebtedness for borrowed money in excess of $10,000;
(m) the Company has not (i) established or adopted any employee benefit plan, (ii) paid any bonus or made any profit-
sharing or similar payment to
any of its directors, officers or employees, (iii) increased the amount of the wages, salary, commissions, fringe benefits or other compensation or remuneration payable
to, any of its directors, officers or employees, or (iv) hired any new employees for whom annual compensation exceeds $90,000;
(n)
there has been no resignation or termination of employment of any officer or employee of the Company or any notice, whether oral or written,
by any officer or employee of the Company for whom annual compensation exceeds $90,000 of his intention to terminate his employment with the Company;
(o)
the Company has not changed any of its methods of accounting or accounting practices in any respect, including any change with respect to
reserves (whether for bad debts, contingent liabilities or otherwise) except as required by concurrent changes in GAAP;
(p)
the Company has not (i) failed to file any material Tax Return or pay any material Tax timely when due, (ii) made or changed any election with
respect to any material Tax, (iii) adopted or changed any accounting method in respect of any material Taxes, (iv) entered into any Tax allocation agreement, Tax
sharing agreement, Tax indemnity agreement or closing agreement, settlement or compromise of any claim or assessment in respect of any material Taxes, or (v)
consented to any extension or waiver of the limitation period applicable to any claim or assessment in respect of any Taxes with any Governmental Body or otherwise;
(q) the Company has not entered into a Contract required to be disclosed on Part 2.9(g)(1)(i) or Part 2.9(g)(1)(ii) of the Disclosure Schedule;
(r) the Company has not failed to pay or otherwise satisfy any liabilities in excess of $5,000 when due, except for liabilities set forth in Part 2.5
of
the Disclosure Schedule which the Company is disputing in good faith;
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