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<br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br />. <br /> <br />BERMELLO, AJAMIL & PARTNERS, INC. <br />AND SUBSIDIARY <br /> <br />NOTES TO CONSOLIDATED FINANCIAL STATEMENTS <br />DECEMBER 31, 2006 AND 2005 <br /> <br />NOTE 10. COMMITMENTS AND CONTINGENCIES (CONTINUED) <br /> <br />Profit Sharing Plan (continued) <br /> <br />The Company may make discretionary contributions to the Plan, upon approval by the <br />board of directors. Amounts contributed by employees are fully vested when contributed. <br />Amounts contributed by the Company are vested at the end of the Plan year, if the <br />employee has met the Plan's vesting requirements. The Company contributed $ 100,000 to <br />the Plan in 2006 and 2005. <br /> <br />Litigation <br /> <br />The Company is exposed to various asserted and un asserted potential claims encountered in <br />the normal course of business. In the opinion of management, the resolution of these <br />matters will not have a material effect on the Company's financial position or results of <br />operations. <br /> <br />-20- <br />