On April 21, 2015, Evans & Sutherland Computer Corporation (the "Company") and its wholly owned subsidiary Spitz, Inc. ("Spitz" and together with the Company, the "Obligors") entered into a settlement agreement (the "Settlement Agreement") with the Pension Benefit Guaranty Corporation (the "PBGC") to settle previously disclosed liabilities (the "ERISA Liabilities") of the Obligors under the Employee Retirement Income Security Act of 1974, as amended ("ERISA"), and all other liabilities of the Obligors relating to the Evans & Sutherland Computer Corporation Pension Plan (the "Plan") (except for those resulting from any violation of Part 4 of Subtitle B of Title 1 of ERISA) (the "Settled ERISA Liabilities").
