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 Mxxxxx USA Employee under the “Mxxxxx Oil Health and Welfare Plans” (designated as such on Schedule 5.01(a) hereto) shall cease to be Liabilities of the Mxxxxx Oil Health and Welfare Plans and shall be transferred to and assumed by Mxxxxx USA as of Immediately after the Distribution Date (“Mxxxxx USA Health and Welfare Liabilities”) under the New Mxxxxx USA Plans that correspond to the Mxxxxx Oil Health and Welfare Plans (the “New Mxxxxx USA Health and Welfare Plans”). Mxxxxx Oil shall retain all other Liabilities under the Mxxxxx Oil Health and Welfare Plans (“Mxxxxx Oil Health and Welfare Liabilities”). (b) Mxxxxx USA shall cause the New Mxxxxx USA Health and Welfare Plans to recognize and maintain all coverage and contribution elections made by Mxxxxx USA Employees under the Mxxxxx Oil Health and Welfare Plans as of the Distribution Date and apply such elections under the New Mxxxxx 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 Mxxxxx Oil to Mxxxxx USA at any time before the Close of the Distribution Date shall neither constitute nor be treated as a “status change” under the New Mxxxxx USA Health and Welfare Plans or the Mxxxxx Oil Health and Welfare Plans. (c) Mxxxxx USA shall cause the New Mxxxxx 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 Mxxxxx USA Employees under the Mxxxxx Oil Health and Welfare Plans for the remainder of the year in which the Distribution Date occurs to the extent recognized under the comparable Mxxxxx Oil Health and Welfare Plans. (d) Mxxxxx USA shall provide coverage to Mxxxxx USA Employees under the New Mxxxxx 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 Mxxxxx Oil Health and Welfare Plans. (e) Mxxxxx USA shall cause the New Mxxxxx USA Health and Welfare Plans to recognize and credit all service of each Mxxxxx USA Employee recognized by the corresponding Mxxxxx 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. On or as soon as reasonably practicable after the Distribution Date, Mxxxxx Oil shall deliver to Mxxxxx USA a schedule setting forth the accrued and unused vacation and paid time off for each Mxxxxx USA Employee as of the Distribution Date, and Mxxxxx USA shall assume and be responsible for all Liabilities therefor which, for the avoidance of doubt, shall be included in Mxxxxx USA Health and Welfare Liabilities. (NY) 14150/039/FORM 10/EXHIBITS/exhibit 10.3 EMA MurphyOil Spinco.doc (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.
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Assumption of Health and Welfare Plan Liabilities; General Provisions. (a) Effective as of Immediately after the Distribution Date and except to the extent as provided in this Article 5Section 4.02(a), all Liabilities to or relating to claims incurred prior to, on or after the Distribution Date by each Mxxxxx USA AI Employee under the “Mxxxxx Oil Health and Welfare Plans” "AUSHC HEALTH AND WELFARE PLANS" (designated as such on Schedule 5.01(a) 3 hereto) shall cease to be Liabilities of the Mxxxxx Oil AUSHC Health and Welfare Plans and shall be are hereby transferred to and assumed by Mxxxxx USA AI as of Immediately after the Distribution Date (“Mxxxxx USA Health and Welfare Liabilities”"AI HEALTH AND WELFARE LIABILITIES") under the New Mxxxxx USA AI Plans that correspond to the Mxxxxx Oil AUSHC Health and Welfare Plans (the “New Mxxxxx USA Health and Welfare Plans”"NEW AI HEALTH AND WELFARE PLANS" (designated as such on Schedule 5 hereto)); provided, however, if insured coverage shall have been purchased for the month by the AI Employee such AUSHC coverage shall continue until the end of that coverage month. Mxxxxx Oil shall retain AUSHC hereby retains all other Liabilities Liabilities, including claims relating to AI Employees incurred but unreported prior to the Distribution Date under the Mxxxxx Oil AUSHC Health and Welfare Plans (“Mxxxxx Oil Health and Welfare Liabilities”"AUSHC HEALTH AND WELFARE LIABILITIES").
(b) Mxxxxx USA Notwithstanding Section 4.01, all treatments which have been precertified for or are being provided to an AI Employee as of the Distribution Date, to the extent not provided in a New AI Health and Welfare Plan, shall be provided without interruption under the appropriate AUSHC Health and Welfare Plan until such treatment is concluded or discontinued pursuant to applicable plan rules and limitations (but not beyond December 31, 2001), but AI shall continue to be responsible for all Liabilities relating to, arising out of or resulting from such on-going treatments as of the Distribution Date.
(c) AI shall cause the New Mxxxxx USA AI Health and Welfare Plans to recognize and maintain all coverage and contribution elections made by Mxxxxx USA AI Employees under the Mxxxxx Oil AUSHC Health and Welfare Plans as of the Distribution Date and apply such elections under the New Mxxxxx USA AI 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 Mxxxxx Oil AUSHC to Mxxxxx USA AI at any time before the Close of the Distribution Date shall neither constitute nor be treated as a “"status change” " under the New Mxxxxx USA AUSHC Health and Welfare Plans or the Mxxxxx Oil New AI Health and Welfare Plans.
(cd) Mxxxxx USA AI shall cause the New Mxxxxx USA AI 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 Mxxxxx USA AI Employees under the Mxxxxx Oil AUSHC Health and Welfare Plans for the remainder of the year in which the Distribution Date occurs to the extent recognized under the comparable Mxxxxx Oil AUSHC Health and Welfare Plans.
(de) Mxxxxx USA AI shall provide coverage to Mxxxxx USA AI Employees under the New Mxxxxx USA AI Health and Welfare Plans without the need to undergo a physical examination or otherwise provide evidence of insurability to the extent provided recognized under the comparable Mxxxxx Oil AUSHC Health and Welfare Plans.
(ef) Mxxxxx USA AI shall cause the New Mxxxxx USA AI Health and Welfare Plans to recognize and credit all service of each Mxxxxx USA AI Employee recognized by the corresponding Mxxxxx Oil AUSHC Health and Welfare Plans Plan before the Close of the Distribution Date for all purposes, including, but not limited to, severance, disability, vacation disability and paid time off. On or as soon as reasonably practicable after the Distribution Date, Mxxxxx Oil shall deliver to Mxxxxx USA a schedule setting forth the accrued and unused vacation and paid time off for each Mxxxxx USA Employee as of the Distribution Date, and Mxxxxx USA shall assume and be responsible for all Liabilities therefor which, for the avoidance of doubt, shall be included in Mxxxxx USA Health and Welfare Liabilities. (NY) 14150/039/FORM 10/EXHIBITS/exhibit 10.3 EMA MurphyOil Spinco.doc
(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 programPTO.
Appears in 1 contract
Samples: Employee Benefits Agreement (Aetna Life Insurance & Annuity Co /Ct)
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 Mxxxxx Xxxxxx USA Employee under the “Mxxxxx Xxxxxx Oil Health and Welfare Plans” (designated as such on Schedule 5.01(a) hereto) shall cease to be Liabilities of the Mxxxxx Xxxxxx Oil Health and Welfare Plans and shall be transferred to and assumed by Mxxxxx Xxxxxx USA as of Immediately after the Distribution Date (“Mxxxxx Xxxxxx USA Health and Welfare Liabilities”) under the New Mxxxxx Xxxxxx USA Plans that correspond to the Mxxxxx Xxxxxx Oil Health and Welfare Plans (the “New Mxxxxx Xxxxxx USA Health and Welfare Plans”). Mxxxxx Xxxxxx Oil shall retain all other Liabilities under the Mxxxxx Xxxxxx Oil Health and Welfare Plans (“Mxxxxx Xxxxxx Oil Health and Welfare Liabilities”).
(b) Mxxxxx Xxxxxx USA shall cause the New Mxxxxx Xxxxxx USA Health and Welfare Plans to recognize and maintain all coverage and contribution elections made by Mxxxxx Xxxxxx USA Employees under the Mxxxxx Xxxxxx Oil Health and Welfare Plans as of the Distribution Date and apply such elections under the New Mxxxxx 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 Mxxxxx Xxxxxx Oil to Mxxxxx 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 Mxxxxx Xxxxxx USA Health and Welfare Plans or the Mxxxxx Xxxxxx Oil Health and Welfare Plans.
(c) Mxxxxx Xxxxxx USA shall cause the New Mxxxxx 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 Mxxxxx Xxxxxx USA Employees under the Mxxxxx 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 Mxxxxx Xxxxxx Oil Health and Welfare Plans.
(d) Mxxxxx Xxxxxx USA shall provide coverage to Mxxxxx Xxxxxx USA Employees under the New Mxxxxx 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 Mxxxxx Xxxxxx Oil Health and Welfare Plans.
(e) Mxxxxx Xxxxxx USA shall cause the New Mxxxxx Xxxxxx USA Health and Welfare Plans to recognize and credit all service of each Mxxxxx Xxxxxx USA Employee recognized by the corresponding Mxxxxx 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. On or as soon as reasonably practicable after the Distribution Date, Mxxxxx Xxxxxx Oil shall deliver to Mxxxxx Xxxxxx USA a schedule setting forth the accrued and unused vacation and paid time off for each Mxxxxx Xxxxxx USA Employee as of the Distribution Date, and Mxxxxx Xxxxxx USA shall assume and be responsible for all Liabilities therefor which, for the avoidance of doubt, shall be included in Mxxxxx Xxxxxx USA Health and Welfare Liabilities. (NY) 14150/039/FORM 10/EXHIBITS/exhibit 10.3 EMA MurphyOil Spinco.doc.
(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.
Appears in 1 contract
Assumption of Health and Welfare Plan Liabilities; General Provisions. (a) Effective as of Immediately after the Distribution Date and except to the extent as provided in this Article 5Section 4.02(a), all Liabilities to or relating to claims incurred prior to, on or after the Distribution Date by each Mxxxxx USA AI Employee under the “Mxxxxx Oil "AUSHC Health and Welfare Plans” " (designated as such on Schedule 5.01(a) 3 hereto) shall cease to be Liabilities of the Mxxxxx Oil AUSHC Health and Welfare Plans and shall be transferred to and assumed by Mxxxxx USA AI as of Immediately after the Distribution Date (“Mxxxxx USA "AI Health and Welfare Liabilities”") under the New Mxxxxx USA AI Plans that correspond to the Mxxxxx Oil AUSHC Health and Welfare Plans (the “"New Mxxxxx USA AI Health and Welfare Plans”" (designated as such on Schedule 5 hereto)). Mxxxxx Oil AUSHC shall retain all other Liabilities Liabilities, including claims relating to AI Employees incurred but unreported prior to the Distribution Date under the Mxxxxx Oil AUSHC Health and Welfare Plans (“Mxxxxx Oil "AUSHC Health and Welfare Liabilities”").
(b) Mxxxxx USA Notwithstanding Section 4.01, all treatments which have been precertified for or are being provided to an AI Employee as of the Distribution Date, to the extent not provided in a New AI Health and Welfare Plan, shall be provided without interruption under the appropriate AUSHC Health and Welfare Plan until such treatment is concluded or discontinued pursuant to applicable plan rules and limitations (but not beyond December 31, 2001), but AI shall continue to be responsible for all Liabilities relating to, arising out of or resulting from such on-going treatments as of the Distribution Date.
(c) AI shall cause the New Mxxxxx USA AI Health and Welfare Plans to recognize and maintain all coverage and contribution elections made by Mxxxxx USA AI Employees under the Mxxxxx Oil AUSHC Health and Welfare Plans as of the Distribution Date and apply such elections under the New Mxxxxx USA AI 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 Mxxxxx Oil AUSHC to Mxxxxx USA AI at any time before the Close of the Distribution Date shall neither constitute nor be treated as a “"status change” " under the New Mxxxxx USA AUSHC Health and Welfare Plans or the Mxxxxx Oil New AI Health and Welfare Plans.
(cd) Mxxxxx USA AI shall cause the New Mxxxxx USA AI 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 Mxxxxx USA AI Employees under the Mxxxxx Oil AUSHC Health and Welfare Plans for the remainder of the year in which the Distribution Date occurs to the extent recognized under the comparable Mxxxxx Oil AUSHC Health and Welfare Plans.
(de) Mxxxxx USA AI shall provide coverage to Mxxxxx USA AI Employees under the New Mxxxxx USA AI Health and Welfare Plans without the need to undergo a physical examination or otherwise provide evidence of insurability to the extent provided recognized under the comparable Mxxxxx Oil AUSHC Health and Welfare Plans.
(ef) Mxxxxx USA AI shall cause the New Mxxxxx USA AI Health and Welfare Plans to recognize and credit all service of each Mxxxxx USA AI Employee recognized by the corresponding Mxxxxx Oil AUSHC Health and Welfare Plans Plan before the Close of the Distribution Date for all purposes, including, but not limited to, severance, disability, vacation disability and paid time off. On or as soon as reasonably practicable after the Distribution Date, Mxxxxx Oil shall deliver to Mxxxxx USA a schedule setting forth the accrued and unused vacation and paid time off for each Mxxxxx USA Employee as of the Distribution Date, and Mxxxxx USA shall assume and be responsible for all Liabilities therefor which, for the avoidance of doubt, shall be included in Mxxxxx USA Health and Welfare Liabilities. (NY) 14150/039/FORM 10/EXHIBITS/exhibit 10.3 EMA MurphyOil Spinco.doc
(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 programPTO.
Appears in 1 contract
Samples: Employee Benefits Agreement (Aetna U S Healthcare Inc)