Common use of Assumption of Health and Welfare Plan Liabilities; General Provisions Clause in Contracts

Assumption of Health and Welfare Plan Liabilities; General Provisions. (a) Effective as of Immediately after the Distribution Date and except to the extent provided in this Article 5, all Liabilities relating to claims incurred prior to, on or after the Distribution Date by each FRP Employee under the “Patriot Health and Welfare Plans” (designated as such on Schedule 3 hereto) shall cease to be Liabilities of the Patriot Health and Welfare Plans and shall be transferred to and assumed by FRP as of Immediately after the Distribution Date (“FRP Health and Welfare Liabilities”) under the New FRP Plans that correspond to the Patriot Health and Welfare Plans (the “New FRP Health and Welfare Plans”). Patriot shall retain all other Liabilities under the Patriot Health and Welfare Plans (“Patriot Health and Welfare Liabilities”). (b) FRP shall cause the New FRP Health and Welfare Plans to recognize and maintain all coverage and contribution elections made by FRP Employees under the Patriot Health and Welfare Plans as of the Distribution Date and apply such elections under the New FRP Health and Welfare Plans for the remainder of the period or periods for which such elections are by their terms applicable. The transfer or other movement of employment from Patriot to FRP at any time before the Close of the Distribution Date shall neither constitute nor be treated as a “status change” under the New FRP Health and Welfare Plans or the Patriot Health and Welfare Plans. (c) FRP shall cause the New FRP Health and Welfare Plans to recognize and give credit for all amounts applied to deductibles, out-of-pocket maximums, and other applicable benefit coverage limits with respect to which such expenses have been incurred by FRP Employees under the Patriot Health and Welfare Plans for the remainder of the year in which the Distribution Date occurs to the extent recognized under the comparable Patriot Health and Welfare Plans. (d) FRP shall provide coverage to FRP Employees under the New FRP Health and Welfare Plans without the need to undergo a physical examination or otherwise provide evidence of insurability to the extent provided under the comparable Patriot Health and Welfare Plans. (e) FRP shall cause the New FRP Health and Welfare Plans to recognize and credit all service of each FRP Employee recognized by the corresponding Patriot Health and Welfare Plans before the Close of the Distribution Date for all purposes, including, but not limited to, severance, disability, vacation and paid time off purposes. On or as soon as reasonably practicable after the Distribution Date, Patriot shall deliver to FRP a schedule setting forth the accrued and unused vacation and paid time off for each FRP Employee as of the Distribution Date, and FRP shall assume and be responsible for all Liabilities therefor which, for the avoidance of doubt, shall be included in FRP Health and Welfare Liabilities.

Assumption of Health and Welfare Plan Liabilities; General Provisions. (a) Effective as of Immediately after the Close of the Distribution Date and except to the extent provided in this Article 5, all Liabilities relating to claims incurred prior to, on or after the Distribution Date by each FRP TopBuild Employee under the “Patriot Health and Welfare Plans” (designated as such on Schedule 3 hereto) shall cease to be Liabilities of the Patriot Masco Health and Welfare Plans and shall be transferred to and assumed by FRP TopBuild as of Immediately after the Close of the Distribution Date (“FRP TopBuild Health and Welfare Liabilities”) under the corresponding New FRP Plans that correspond to the Patriot Health and Welfare Plans (the “New FRP TopBuild Health and Welfare Plans”). Patriot Masco shall retain all other Liabilities under the Patriot Masco Health and Welfare Plans (“Patriot Masco Health and Welfare Liabilities”). (b) FRP TopBuild shall cause the New FRP TopBuild Health and Welfare Plans to recognize and maintain all coverage and contribution elections made by FRP TopBuild Employees under the Patriot Masco Health and Welfare Plans as of the Distribution Date and apply such elections under the New FRP TopBuild Health and Welfare Plans for the remainder of the period or periods for which such elections are by their terms applicable. The transfer or other movement of employment from Patriot Masco to FRP TopBuild at any time before the Close of the Distribution Date shall neither constitute nor be treated as a “status change” under the New FRP TopBuild Health and Welfare Plans or the Patriot Masco Health and Welfare Plans. (c) FRP TopBuild shall cause the New FRP TopBuild Health and Welfare Plans to recognize and give credit for all amounts applied to deductibles, out-of-pocket maximums, and other applicable benefit coverage limits with respect to which such expenses have been incurred by FRP TopBuild Employees under the Patriot Masco Health and Welfare Plans for the remainder of the year in which the Distribution Date occurs to the extent recognized under the comparable Patriot Masco Health and Welfare Plans. (d) FRP TopBuild shall provide coverage to FRP TopBuild Employees under the New FRP TopBuild Health and Welfare Plans without the need to undergo a physical examination or otherwise provide evidence of insurability to the extent provided under the comparable Patriot Masco Health and Welfare Plans. (e) FRP TopBuild shall cause the New FRP TopBuild Health and Welfare Plans to recognize and credit all service of each FRP TopBuild Employee recognized by the corresponding Patriot Masco Health and Welfare Plans before the Close of the Distribution Date for all purposes, including, but not limited to, severance, disability, vacation and paid time off purposesoff. On or as soon as reasonably practicable after the Distribution Date, Patriot Masco shall deliver to FRP TopBuild a schedule setting forth the accrued and unused vacation and paid time off for each FRP TopBuild Employee as of the Distribution Date, and FRP TopBuild shall assume and be responsible for all Liabilities therefor which, for the avoidance of doubt, shall be included in FRP TopBuild Health and Welfare Liabilities. (f) Education or tuition reimbursement liabilities shall be the responsibility of the employer of the tuition reimbursement program participant at the time the education or tuition reimbursement request is formally submitted by the program participant in accordance with the terms and conditions of such program.

Assumption of Health and Welfare Plan Liabilities; General Provisions. (a) Effective as of Immediately after the Distribution Date and except to the extent provided in this Article 5, all Liabilities relating to claims incurred prior to, on or after the Distribution Date by each FRP Xxxxxx USA Employee under the “Patriot Xxxxxx Oil Health and Welfare Plans” (designated as such on Schedule 3 hereto) shall cease to be Liabilities of the Patriot Xxxxxx Oil Health and Welfare Plans and shall be transferred to and assumed by FRP Xxxxxx USA as of Immediately after the Distribution Date (“FRP Xxxxxx USA Health and Welfare Liabilities”) under the New FRP Xxxxxx USA Plans that correspond to the Patriot Xxxxxx Oil Health and Welfare Plans (the “New FRP Xxxxxx USA Health and Welfare Plans”). Patriot Xxxxxx Oil shall retain all other Liabilities under the Patriot Xxxxxx Oil Health and Welfare Plans (“Patriot Xxxxxx Oil Health and Welfare Liabilities”). (b) FRP Xxxxxx USA shall cause the New FRP Xxxxxx USA Health and Welfare Plans to recognize and maintain all coverage and contribution elections made by FRP Xxxxxx USA Employees under the Patriot Xxxxxx Oil Health and Welfare Plans as of the Distribution Date and apply such elections under the New FRP Xxxxxx USA Health and Welfare Plans for the remainder of the period or periods for which such elections are by their terms applicable. The transfer or other movement of employment from Patriot Xxxxxx Oil to FRP Xxxxxx USA at any time before the Close of the Distribution Date shall neither constitute nor be treated as a “status change” under the New FRP Xxxxxx USA Health and Welfare Plans or the Patriot Xxxxxx Oil Health and Welfare Plans. (c) FRP Xxxxxx USA shall cause the New FRP Xxxxxx USA Health and Welfare Plans to recognize and give credit for all amounts applied to deductibles, out-of-pocket maximums, and other applicable benefit coverage limits with respect to which such expenses have been incurred by FRP Xxxxxx USA Employees under the Patriot Xxxxxx Oil Health and Welfare Plans for the remainder of the year in which the Distribution Date occurs to the extent recognized under the comparable Patriot Xxxxxx Oil Health and Welfare Plans. (d) FRP Xxxxxx USA shall provide coverage to FRP Xxxxxx USA Employees under the New FRP Xxxxxx USA Health and Welfare Plans without the need to undergo a physical examination or otherwise provide evidence of insurability to the extent provided under the comparable Patriot Xxxxxx Oil Health and Welfare Plans. (e) FRP Xxxxxx USA shall cause the New FRP Xxxxxx USA Health and Welfare Plans to recognize and credit all service of each FRP Xxxxxx USA Employee recognized by the corresponding Patriot Xxxxxx Oil Health and Welfare Plans before the Close of the Distribution Date for all purposes, including, but not limited to, severance, disability, vacation and paid time off purposes. On or as soon as reasonably practicable after the Distribution Date, Patriot Xxxxxx Oil shall deliver to FRP Xxxxxx USA a schedule setting forth the accrued and unused vacation and paid time off for each FRP Xxxxxx USA Employee as of the Distribution Date, and FRP Xxxxxx USA shall assume and be responsible for all Liabilities therefor which, for the avoidance of doubt, shall be included in FRP Xxxxxx USA Health and Welfare Liabilities. (f) Education or tuition reimbursement liabilities shall be the responsibility of the employer of the tuition reimbursement program participant at the time the education or tuition reimbursement request is formally submitted by the program participant in accordance with the terms and conditions of such program.

Assumption of Health and Welfare Plan Liabilities; General Provisions. (a) Effective as of Immediately after the Distribution Date and except to the extent provided in this Article 5, all Liabilities relating to claims incurred prior to, on or after the Distribution Date by each FRP TopBuild Employee under the “Patriot Health and Welfare Plans” (designated as such on Schedule 3 hereto) shall cease to be Liabilities of the Patriot Masco Health and Welfare Plans and shall be transferred to and assumed by FRP TopBuild as of Immediately after the Distribution Date (“FRP TopBuild Health and Welfare Liabilities”) under the corresponding New FRP Plans that correspond to the Patriot Health and Welfare Plans (the “New FRP TopBuild Health and Welfare Plans”). Patriot Masco shall retain all other Liabilities under the Patriot Masco Health and Welfare Plans (“Patriot Masco Health and Welfare Liabilities”). (b) FRP TopBuild shall cause the New FRP TopBuild Health and Welfare Plans to recognize and maintain all coverage and contribution elections made by FRP TopBuild Employees under the Patriot Masco Health and Welfare Plans as of the Distribution Date and apply such elections under the New FRP TopBuild Health and Welfare Plans for the remainder of the period or periods for which such elections are by their terms applicable. The transfer or other movement of employment from Patriot Masco to FRP TopBuild at any time before the Close of the Distribution Date shall neither constitute nor be treated as a “status change” under the New FRP TopBuild Health and Welfare Plans or the Patriot Masco Health and Welfare Plans. (c) FRP TopBuild shall cause the New FRP TopBuild Health and Welfare Plans to recognize and give credit for all amounts applied to deductibles, out-of-pocket maximums, and other applicable benefit coverage limits with respect to which such expenses have been incurred by FRP TopBuild Employees under the Patriot Masco Health and Welfare Plans for the remainder of the year in which the Distribution Date occurs to the extent recognized under the comparable Patriot Masco Health and Welfare Plans. (d) FRP TopBuild shall provide coverage to FRP TopBuild Employees under the New FRP TopBuild Health and Welfare Plans without the need to undergo a physical examination or otherwise provide evidence of insurability to the extent provided under the comparable Patriot Masco Health and Welfare Plans. (e) FRP TopBuild shall cause the New FRP TopBuild Health and Welfare Plans to recognize and credit all service of each FRP TopBuild Employee recognized by the corresponding Patriot Masco Health and Welfare Plans before the Close of the Distribution Date for all purposes, including, but not limited to, severance, disability, vacation and paid time off purposesoff. On or as soon as reasonably practicable after the Distribution Date, Patriot Masco shall deliver to FRP TopBuild a schedule setting forth the accrued and unused vacation and paid time off for each FRP TopBuild Employee as of the Distribution Date, and FRP TopBuild shall assume and be responsible for all Liabilities therefor which, for the avoidance of doubt, shall be included in FRP TopBuild Health and Welfare Liabilities. (f) Education or tuition reimbursement liabilities shall be the responsibility of the employer of the tuition reimbursement program participant at the time the education or tuition reimbursement request is formally submitted by the program participant in accordance with the terms and conditions of such program.