Common use of Calculation of Pension Plan Asset Allocation Clause in Contracts

Calculation of Pension Plan Asset Allocation. As soon as practicable after the Split Date, Verizon’s actuary shall calculate and certify the Pension Plan Asset Transfer Amount for each Idearc Pension Plan as of the Split Date. Such amount shall be the amount required to be transferred by Section 414(1) of the Code and the regulations thereunder for all Idearc Individuals whose accrued benefits are transferred to an Idearc Pension Plan pursuant to subsection (a) of this Section 6.3, determined using the actuarial factors and assumptions set forth on Schedule 6.3(b). Within ten (10) days after the date Verizon certifies to Idearc the Pension Plan Asset Transfer Amount for each Idearc Pension Plan, Verizon’s actuary shall provide Idearc’s actuary with a computer file containing the employee data used to calculate the Pension Plan Asset Transfer Amount. If Idearc’s actuary disagrees with the determination of a Pension Plan Asset Transfer Amount, Idearc may, within thirty (30) days after receipt of such certification from Verizon, deliver a written notice to Verizon disagreeing with such calculation and setting forth Idearc’s calculation of the Pension Plan Asset Transfer Amount. The Parties shall, during the fifteen (15) days following such delivery, negotiate in good faith to reach an agreement on the disputed items or amounts in order to determine, as may be required, the amount of the Pension Plan Asset Transfer Amount, which amount shall not be more than the amount thereof shown in the calculations of Idearc’s actuary nor less than the amount shown in the calculations of Verizon’s actuary. If the two actuaries are unable to agree on the amount of the Pension Plan Asset Transfer Amount during such fifteen (15)-day period, the Parties shall jointly select an independent third actuary with whom none of the parties have a material relationship, whose determination shall be binding on the Parties. The third actuary shall be directed to render a calculation of the Pension Plan Asset Transfer Amount in accordance with the provisions of this Agreement as promptly as practicable. Each of the Parties shall bear the fees, costs and expenses of their respective actuaries, and the fees, costs and expense of the third actuary shall be borne one-half by Verizon and one-half by Idearc.

Calculation of Pension Plan Asset Allocation. As soon as practicable after the Split Date, Verizon’s actuary shall calculate and certify the Pension Plan Asset Transfer Amount for each Idearc Pension Plan as of the close of business of the day immediately preceding the Split DateDate for the Idearc Management Pension Plan and the close of business as of the Distribution Date for the Idearc Union Pension Plan. Such amount shall be the amount required to be transferred by Section 414(1) of the Code and the regulations thereunder for all Idearc Individuals whose accrued benefits are transferred to an Idearc Pension Plan pursuant to subsection (a) of this Section 6.3, determined using the actuarial factors and assumptions set forth on Schedule 6.3(b). Within ten (10) days after the date Verizon certifies to Idearc the Pension Plan Asset Transfer Amount for each Idearc Pension Plan, Verizon’s actuary shall provide Idearc’s actuary with a computer file containing the employee data used and other information needed to calculate the Pension Plan Asset Transfer Amount. If Idearc’s actuary disagrees with the determination of a Pension Plan Asset Transfer Amount, Idearc may, within thirty (30) days after receipt of such certification computer file from Verizon, deliver a written notice to Verizon disagreeing with such calculation and setting forth Idearc’s calculation of the Pension Plan Asset Transfer Amount. The Parties shall, during the fifteen (15) days following such delivery, negotiate in good faith to reach an agreement on the disputed items or amounts in order to determine, as may be required, the amount of the Pension Plan Asset Transfer Amount, which amount shall not be more than the amount thereof shown in the calculations of Idearc’s actuary nor less than the amount shown in the calculations of Verizon’s actuary. If the two actuaries are unable to agree on the amount of the Pension Plan Asset Transfer Amount during such fifteen (15)-day period, the Parties shall jointly select an independent third actuary with whom none of the parties have a material relationship, whose determination shall be binding on the Parties. The third actuary shall be directed to render a calculation of the Pension Plan Asset Transfer Amount in accordance with the provisions of this Agreement as promptly as practicable. Each of the Parties shall bear the fees, costs and expenses of their respective actuaries, and the fees, costs and expense of the third actuary shall be borne one-half by Verizon and one-half by Idearc.

Calculation of Pension Plan Asset Allocation. As soon as practicable after the Split Distribution Date, Verizon’s actuary shall calculate and certify the Pension Plan Asset Transfer Amount for each Idearc Spinco Pension Plan (other than the Spinco Excess Pension Plan) as of the close of business of the day immediately preceding the Distribution Date. With respect to each such asset transfer, the asset transfer amount shall be equal to the present value of benefits in respect of Spinco Employees and persons entitled to receive a benefit in respect of such Spinco Employees on a plan termination basis, provided that the particular transfer under consideration satisfies the applicable de minimis rule under the IRS section 414(l) regulations. Consistent with the desire of the Parties that the de minimis rule be satisfied, Verizon’s actuary shall make its determination regarding satisfaction of the de minimis rule in a manner that comports with all applicable law and is aimed at a result that satisfies the applicable de minimis rule, including the use of a permissible determination date that is in furtherance of such objective. In the event a particular transfer does not satisfy the de minimis rule, Verizon’s actuary will perform an allocation under section 4044 of ERISA to determine the assets from the Verizon Pension Plan in question that may be transferred to the applicable Spinco Pension Plan. In the event the amount of assets to be transferred following the ERISA section 4044 analysis is less than the Projected Benefit Obligation (“PBO”) for the Spinco participants under consideration, Verizon will provide a supplemental amount of assets so that the funding in the Spinco Pension Plan under consideration is equal to the PBO funded-level. The assumptions to be used with respect to the foregoing are set forth in Exhibit A hereto entitled Actuarial Assumptions and Methods for Pension Asset Transfer. Notwithstanding the foregoing in this Section 5.2(b), in the event the present value of the accrued benefits that are to be transferred from the Verizon Pension Plan for New York and New England Associates (the "North Accrued Benefits") can not be transferred in reliance on the applicable de minimis rule under the IRS section 414(l) regulations, an additional calculation shall be performed. Verizon’s actuary shall subtract $11,700,000 from the North Accrued Benefits and re-determine the percentage that such adjusted North Accrued Benefits would be of the assets of such Plan as of the Split Datemost favorable permissible determination date. Such amount If the resulting percentage is equal to or in excess of three percent (3%), then the provisions above that apply to a transfer that does not satisfy the de minimis rule shall be followed, i.e., the provisions relating to funding to the PBO funded-level shall apply. If, however, the resulting percentage is less than three percent (3%), then Verizon will provide a supplemental amount required to be transferred by Section 414(1) of assets so that the Code and funding in the regulations thereunder for all Idearc Individuals whose accrued benefits are transferred to an Idearc Spinco Union Pension Plan pursuant is equal to subsection (a) the accrued present value of this Section 6.3, benefits in respect of Spinco Employees and persons entitled to receive a benefit in respect of such Spinco Employees as determined on a plan termination basis using the actuarial factors and assumptions set forth on Schedule 6.3(b)PBGC Plan Termination Assumptions under Exhibit A hereto. Within ten (10) days after the date Verizon certifies to Idearc FairPoint the Pension Plan Asset Transfer Amount for each Idearc Spinco Pension Plan, Verizon’s actuary shall provide IdearcFairPoint’s actuary with a complete computer file containing the employee data and all other information used by Verizon’s actuary or otherwise reasonably requested by FairPoint’s actuary as needed to calculate the Pension Plan Asset Transfer AmountAmount (including related data and information related to such calculation and otherwise appropriate for FairPoint’s actuary to consider, and any other data and information reasonably requested by FairPoint’s actuary). If IdearcFairPoint’s actuary disagrees with the determination of a Pension Plan Asset Transfer Amount, Idearc FairPoint may, within thirty (30) days after receipt from Verizon of such certification from Verizoncomputer file and all other reasonably requested information, deliver a written notice to Verizon disagreeing with such calculation and setting forth IdearcFairPoint’s calculation of the Pension Plan Asset Transfer Amount. The Parties shall, during the fifteen (15) days following such delivery, negotiate in good faith to reach an agreement on the disputed items or amounts in order to determine, as may be required, the amount of the Pension Plan Asset Transfer Amount, which amount shall not be more than the amount thereof shown in the calculations of IdearcFairPoint’s actuary nor less than the amount shown in the calculations of Verizon’s actuary. If the two actuaries are unable to agree on the amount of the Pension Plan Asset Transfer Amount during such fifteen (15)-day period, the Parties shall jointly select an independent third actuary with whom none of the parties have a material relationship, whose determination shall be binding on the Parties. The third actuary shall be directed to render a calculation of the Pension Plan Asset Transfer Amount in accordance with the provisions of this Agreement as promptly as practicable. Each of the Parties shall bear the fees, costs and expenses of their respective actuaries, and the fees, costs and expense of the third actuary shall be borne one-half by Verizon and one-half by IdearcFairPoint.

Calculation of Pension Plan Asset Allocation. As soon as practicable after the Split Distribution Date, ,Verizon’s actuary shall calculate and certify the Pension Plan Asset Transfer Amount for each Idearc Spinco Pension Plan (other than the Spinco Excess Pension Plan) as of the close of business of the day immediately preceding the Distribution Date. With respect to each such asset transfer, the asset transfer amount shall be equal to the present value of benefits in respect of Spinco Employees and persons entitled to receive a benefit in respect of such Spinco Employees on a plan termination basis, provided that the particular transfer under consideration satisfies the applicable de minimis rule under the IRS section 414(l) regulations. Consistent with the desire of the Parties that the de minimis rule be satisfied, Verizon’s actuary shall make its determination regarding satisfaction of the de minimis rule in a manner that comports with all applicable law and is aimed at a result that satisfies the applicable de minimis rule, including the use of a permissible determination date that is in furtherance of such objective. In the event a particular transfer does not satisfy the de minimis rule, Verizon’s actuary will perform an allocation under section 4044 of ERISA to determine the assets from the Verizon Pension Plan in question that may be transferred to the applicable Spinco Pension Plan. In the event the amount of assets to be transferred following the ERISA section 4044 analysis is less than the Projected Benefit Obligation (“PBO”) for the Spinco participants under consideration, Verizon will provide a supplemental amount of assets so that the funding in the Spinco Pension Plan under consideration is equal to the PBO funded-level. The assumptions to be used with respect to the foregoing are set forth in Exhibit A hereto entitled Actuarial Assumptions and Methods for Pension Asset Transfer. Notwithstanding the foregoing in this Section 5.2(b), in the event the present value of the accrued benefits that are to be transferred from the Verizon Pension Plan for New York and New England Associates (the “North Accrued Benefits”) can not be transferred in reliance on the applicable de minimis rule under the IRS section 414(l) regulations, an additional calculation shall be performed. Verizon’s actuary shall subtract $11,700,000 from the North Accrued Benefits and re-determine the percentage that such adjusted North Accrued Benefits would be of the assets of such Plan as of the Split Datemost favorable permissible determination date. Such amount If the resulting percentage is equal to or in excess of three percent (3%), then the provisions above that apply to a transfer that does not satisfy the de minimis rule shall be followed, i.e., the provisions relating to funding to the PBO funded-level shall apply. If, however, the resulting percentage is less than three percent (3%), then Verizon will provide a supplemental amount required to be transferred by Section 414(1) of assets so that the Code and funding in the regulations thereunder for all Idearc Individuals whose accrued benefits are transferred to an Idearc Spinco Union Pension Plan pursuant is equal to subsection (a) the accrued present value of this Section 6.3, benefits in respect of Spinco Employees and persons entitled to receive a benefit in respect of such Spinco Employees as determined on a plan termination basis using the actuarial factors and assumptions set forth on Schedule 6.3(b)PBGC Plan Termination Assumptions under Exhibit A hereto. Within ten (10) days after the date Verizon certifies to Idearc FairPoint the Pension Plan Asset Transfer Amount for each Idearc Spinco Pension Plan, Verizon’s actuary shall provide IdearcFairPoint’s actuary with a complete computer file containing the employee data and all other information used by Verizon’s actuary or otherwise reasonably requested by FairPoint’s actuary asneeded to calculate the Pension Plan Asset Transfer AmountAmount (including related data and information related to such calculation and otherwise appropriate for FairPoint’s actuary to consider, and any other data and information reasonably requested by FairPoint’s actuary). If IdearcFairPoint’s actuary disagrees with the determination of a Pension Plan Asset Transfer Amount, Idearc FairPoint may, within thirty (30) days after receipt from Verizon of such certification from Verizoncomputer file and all other reasonably requested information, deliver a written notice to Verizon disagreeing with such calculation and setting forth IdearcFairPoint’s calculation of the Pension Plan Asset Transfer Amount. The Parties shall, during the fifteen (15) days following such delivery, negotiate in good faith to reach an agreement on the disputed items or amounts in order to determine, as may be required, the amount of the Pension Plan Asset Transfer Amount, which amount shall not be more than the amount thereof shown in the calculations of IdearcFairPoint’s actuary nor less than the amount shown in the calculations of Verizon’s actuary. If the two actuaries are unable to agree on the amount of the Pension Plan Asset Transfer Amount during such fifteen (15)-day period, the Parties shall jointly select an independent third actuary with whom none of the parties have a material relationship, whose determination shall be binding on the Parties. The third actuary shall be directed to render a calculation of the Pension Plan Asset Transfer Amount in accordance with the provisions of this Agreement as promptly as practicable. Each of the Parties shall bear the fees, costs and expenses of their respective actuaries, and the fees, costs and expense of the third actuary shall be borne one-half by Verizon and one-half by IdearcFairPoint.

Calculation of Pension Plan Asset Allocation. As soon as practicable after the Split Date, VerizonXxxxxxx’s actuary shall calculate and certify the Pension Plan Asset Transfer Amount for each Idearc Pension Plan as of the close of business of the day immediately preceding the Split DateDate for the Idearc Management Pension Plan and the close of business as of the Distribution Date for the Idearc Union Pension Plan. Such amount shall be the amount required to be transferred by Section 414(1) of the Code and the regulations thereunder for all Idearc Individuals whose accrued benefits are transferred to an Idearc Pension Plan pursuant to subsection (a) of this Section 6.3, determined using the actuarial factors and assumptions set forth on Schedule 6.3(b). Within ten (10) days after the date Verizon certifies to Idearc the Pension Plan Asset Transfer Amount for each Idearc Pension Plan, Verizon’s actuary shall provide Idearc’s actuary with a computer file containing the employee data used and other information needed to calculate the Pension Plan Asset Transfer Amount. If Idearc’s actuary disagrees with the determination of a Pension Plan Asset Transfer Amount, Idearc may, within thirty (30) days after receipt of such certification computer file from Verizon, deliver a written notice to Verizon disagreeing with such calculation and setting forth Idearc’s calculation of the Pension Plan Asset Transfer Amount. The Parties shall, during the fifteen (15) days following such delivery, negotiate in good faith to reach an agreement on the disputed items or amounts in order to determine, as may be required, the amount of the Pension Plan Asset Transfer Amount, which amount shall not be more than the amount thereof shown in the calculations of Idearc’s actuary nor less than the amount shown in the calculations of Verizon’s actuary. If the two actuaries are unable to agree on the amount of the Pension Plan Asset Transfer Amount during such fifteen (15)-day period, the Parties shall jointly select an independent third actuary with whom none of the parties have a material relationship, whose determination shall be binding on the Parties. The third actuary shall be directed to render a calculation of the Pension Plan Asset Transfer Amount in accordance with the provisions of this Agreement as promptly as practicable. Each of the Parties shall bear the fees, costs and expenses of their respective actuaries, and the fees, costs and expense of the third actuary shall be borne one-half by Verizon and one-half by Idearc.

Calculation of Pension Plan Asset Allocation. As soon as practicable after the Split Distribution Date, Verizon’s actuary shall calculate and certify the Pension Plan Asset Transfer Amount for that is to be transferred to each Idearc Spinco Pension Plan (other than the Spinco Excess Pension Plan) as of the Split Distribution Date. Such amount With respect to each such asset transfer from each Verizon Pension Plan, the Pension Plan Asset Transfer Amount shall be equal (subject to the subsequent provisions of this Section 5.2(b)) to the amount required to be transferred by determined in accordance with the requirements of Section 414(1414(l) of the Code and the regulations thereunder for all Idearc Individuals whose thereunder, based on the present value of benefits in respect of Spinco Employees and persons entitled to receive a benefit in respect of such Spinco Employees, calculated on a plan termination basis, and, where applicable, giving effect to the allocation of assets under Section 4044 of ERISA, but without regard to the de minimis rule available under the regulations promulgated under Section 414(l). For the avoidance of doubt, in no event shall any Verizon Pension Plan transfer to any Spinco Pension Plan assets in excess of the amount required to be transferred based on the present value of the accrued benefits are transferred to an Idearc Pension Plan pursuant to subsection (a) of this participants, as determined in accordance with Section 6.3, determined using the actuarial factors and assumptions set forth on Schedule 6.3(b414(l). Within ten (10) days after In the date Verizon certifies to Idearc event that the Pension Plan Asset Transfer Amount for each Idearc Pension Plan, Verizon’s actuary shall provide Idearc’s actuary with a computer file containing the employee data used to calculate the Pension Plan Asset Transfer Amount. If Idearc’s actuary disagrees with the determination of a Pension Plan Asset Transfer Amount, Idearc may, within thirty (30) days after receipt of such certification from Verizon, deliver a written notice to Verizon disagreeing with such calculation and setting forth Idearc’s calculation aggregate of the Pension Plan Asset Transfer AmountAmounts for all of the Verizon Pension Plans that are qualified under Section 401(a) of the Code (the “Aggregate Assets”) has a value which is less than the aggregate Projected Benefit Obligations (“PBO”) for all the Spinco participants under all such qualified Verizon Pension Plans (the “Aggregate PBO”), Verizon will be responsible for the differential between the Aggregate PBO and the Aggregate Assets (the “Differential”) as described in the next sentence. Verizon will pay the Differential to either Frontier or an underfunded Spinco Pension Plan (or Plans) identified by Frontier; provided, however, that if the Differential is paid directly to Frontier, Frontier shall contribute the entire amount to one or more of the underfunded Spinco Pension Plans as soon as practicable. The Parties shall, during assumptions to be used with respect to the fifteen (15) days following such delivery, negotiate in good faith to reach an agreement on the disputed items or amounts in order to determine, as may be required, determination of the amount of the assets to be transferred from any Verizon Pension Plan Asset Transfer Amount, which amount shall not be more than and in determining the amount thereof shown PBO in the calculations respect of Idearc’s actuary nor less than the amount shown in the calculations of Verizon’s actuary. If the two actuaries are unable to agree on the amount of the any Pension Plan Asset Transfer Amount during such fifteen (15)-day period, the Parties shall jointly select an independent third actuary with whom none of the parties have a material relationship, whose determination shall be binding on the Parties. The third actuary shall be directed to render a calculation of the Pension Plan Asset Transfer Amount in accordance with the provisions of this Agreement as promptly as practicable. Each of the Parties shall bear the fees, costs and expenses of their respective actuaries, and the fees, costs Aggregate PBO are set forth in Exhibit A hereto entitled Actuarial Assumptions and expense of the third actuary shall be borne one-half by Verizon and one-half by IdearcMethods for Pension Asset Transfer.

Calculation of Pension Plan Asset Allocation. As soon as practicable after the Split Distribution Date, Verizon’s actuary shall calculate and certify the Pension Plan Asset Transfer Amount for that is to be transferred to each Idearc Spinco Pension Plan (other than the Spinco Excess Pension Plan) as of the Split Distribution Date. Such amount With respect to each such asset transfer from each Verizon Pension Plan, the Pension Plan Asset Transfer Amount shall be equal (subject to the subsequent provisions of this Section 5.2(b)) to the amount required to be transferred by determined in accordance with the requirements of Section 414(1414(l) of the Code and the regulations thereunder thereunder, based on the present value of benefits in respect of Spinco Employees and persons entitled to receive a benefit in respect of such Spinco Employees, calculated on a plan termination basis, and, where applicable, giving effect to the allocation of assets under Section 4044 of ERISA, but without regard to the de minimis rule available under the regulations promulgated under Section 414(l). For the avoidance of doubt, in no event shall any Verizon Pension Plan transfer to any Spinco Pension Plan assets in excess of the amount required to be transferred based on the present value of the accrued benefits of participants, as determined in accordance with Section 414(l). In the event that the aggregate of the Pension Plan Asset Transfer Amounts for all Idearc Individuals whose accrued benefits of the Verizon Pension Plans that are transferred qualified under Section 401(a) of the Code (the “Aggregate Assets”) has a value which is less than the aggregate Projected Benefit Obligations (“PBO”) for all the Spinco participants under all such qualified Verizon Pension Plans (the “Aggregate PBO”), Verizon will be responsible for the differential between the Aggregate PBO and the Aggregate Assets (the “Differential”) as described in the next sentence. Verizon will pay the Differential to either Frontier or an Idearc underfunded Spinco Pension Plan pursuant (or Plans) identified by Frontier; provided, however, that if the Differential is paid directly to subsection (a) Frontier, Frontier shall contribute the entire amount to one or more of this Section 6.3, determined using the actuarial factors underfunded Spinco Pension Plans as soon as practicable. The assumptions to be used with respect to the determination of the amount of assets to be transferred from any Verizon Pension Plan and assumptions in determining the PBO in respect of any Pension Plan and the Aggregate PBO are set forth on Schedule 6.3(b)in Exhibit A hereto entitled Actuarial Assumptions and Methods for Pension Asset Transfer. Within ten (10) days after the date Verizon certifies to Idearc Frontier the Pension Plan Asset Transfer Amount for to be transferred to each Idearc Spinco Pension Plan, Verizon’s actuary shall provide IdearcFrontier’s actuary with a complete computer file containing the employee data and all other relevant information used by Verizon’s actuary or otherwise reasonably requested by Frontier’s actuary as needed to calculate the Pension Plan Asset Transfer Amount. If IdearcAmount (including data and information related to such calculation and otherwise appropriate for Frontier’s actuary disagrees with the determination of a to consider, and any other data and information reasonably requested by Frontier’s actuary). The Pension Plan Asset Transfer Amount, Idearc may, within thirty (30) days after Amount shall become final and binding upon the Parties at the close of business on the 30th day following Frontier’s receipt of such certification from computer file and any such additional data used by Verizon’s actuary to make its determination and any additional information reasonably requested by Frontier’s actuary, deliver unless prior to such 30th day Frontier delivers a written notice to Verizon disagreeing with such calculation and setting forth Idearc’s stating that Frontier believes that the calculation of the Pension Plan Asset Transfer AmountAmount contains factual or mathematical errors or otherwise fails to comport with the actuarial assumptions expressly set forth in Exhibit A and states in reasonable detail the basis for such belief. The Parties shall, during the fifteen (15) days following Should Frontier timely provide such delivery, negotiate in good faith to reach an agreement on the disputed items or amounts in order to determine, as may be requirednotice, the amount of Parties shall use their reasonable best efforts to resolve promptly any disagreements regarding such calculations. In the Pension Plan Asset Transfer Amount, which amount shall event that the Parties cannot be more than the amount thereof shown in the calculations of Idearc’s actuary nor less than the amount shown in the calculations of Verizon’s actuary. If the two actuaries are unable to agree on the amount of the Pension Plan Asset Transfer Amount during resolve such fifteen (15)-day perioddisagreements, the Parties shall jointly select an independent third actuary with whom none of the parties Parties have a material relationship, who shall render its determination promptly in accordance with the requirements of this Section 5.2(b) and whose determination shall be binding on the Parties. The third actuary shall be directed required to render a calculation confirm the determination of the Pension Plan Asset Transfer Amount in accordance Verizon actuary unless, and solely to the extent that, the third actuary determines that such determination (i) contains factual or mathematical errors or (ii) applying an abuse of discretion standard such that the determination of the Verizon actuary shall be confirmed unless it has no reasonable basis, otherwise fails to comport with the provisions actuarial assumptions set forth in Exhibit A. In no event (except for inaccuracy of this Agreement as promptly as practicablethe data provided) shall the amount determined by the third actuary be more than the amount claimed by Frontier or less than the amount shown in the calculations of Verizon’s actuary. Each of the Parties shall bear the fees, costs and expenses of their respective actuaries, and the fees, costs and expense of the third actuary shall be borne one-one half by Verizon and one-one half by IdearcFrontier. Any decision by the third actuary shall be treated as Confidential Information by the parties, except as may be required to obtain judgment on the award or enforce performance thereof or except as disclosure may be required by law.

Calculation of Pension Plan Asset Allocation. As soon as practicable after the Split Distribution Date, Verizon’s 's actuary shall calculate and certify the Pension Plan Asset Transfer Amount for each Idearc Spinco Pension Plan (other than the Spinco Excess Pension Plan) as of the close of business of the day immediately preceding the Distribution Date. With respect to each such asset transfer, the asset transfer amount shall be equal to the present value of benefits in respect of Spinco Employees and persons entitled to receive a benefit in respect of such Spinco Employees on a plan termination basis, provided that the particular transfer under consideration satisfies the applicable de minimis rule under the IRS section 414(l) regulations. Consistent with the desire of the Parties that the de minimis rule be satisfied, Verizon's actuary shall make its determination regarding satisfaction of the de minimis rule in a manner that comports with all applicable law and is aimed at a result that satisfies the applicable de minimis rule, including the use of a permissible determination date that is in furtherance of such objective. In the event a particular transfer does not satisfy the de minimis rule, Verizon's actuary will perform an allocation under section 4044 of ERISA to determine the assets from the Verizon Pension Plan in question that may be transferred to the applicable Spinco Pension Plan. In the event the amount of assets to be transferred following the ERISA section 4044 analysis is less than the Projected Benefit Obligation ("PBO") for the Spinco participants under consideration, Verizon will provide a supplemental amount of assets so that the funding in the Spinco Pension Plan under consideration is equal to the PBO funded-level. The assumptions to be used with respect to the foregoing are set forth in Exhibit A hereto entitled Actuarial Assumptions and Methods for Pension Asset Transfer. Notwithstanding the foregoing in this Section 5.2(b), in the event the present value of the accrued benefits that are to be transferred from the Verizon Pension Plan for New York and New England Associates (the "North Accrued Benefits") can not be transferred in reliance on the applicable de minimis rule under the IRS section 414(l) regulations, an additional calculation shall be performed. Verizon's actuary shall subtract $11,700,000 from the North Accrued Benefits and re-determine the percentage that such adjusted North Accrued Benefits would be of the assets of such Plan as of the Split Datemost favorable permissible determination date. Such amount If the resulting percentage is equal to or in excess of three percent (3%), then the provisions above that apply to a transfer that does not satisfy the de minimis rule shall be followed, i.e., the provisions relating to funding to the PBO funded-level shall apply. If, however, the resulting percentage is less than three percent (3%), then Verizon will provide a supplemental amount required to be transferred by Section 414(1) of assets so that the Code and funding in the regulations thereunder for all Idearc Individuals whose accrued benefits are transferred to an Idearc Spinco Union Pension Plan pursuant is equal to subsection (a) the accrued present value of this Section 6.3, benefits in respect of Spinco Employees and persons entitled to receive a benefit in respect of such Spinco Employees as determined on a plan termination basis using the actuarial factors and assumptions set forth on Schedule 6.3(b)PBGC Plan Termination Assumptions under Exhibit A hereto. Within ten (10) days after the date Verizon certifies to Idearc FairPoint the Pension Plan Asset Transfer Amount for each Idearc Spinco Pension Plan, Verizon’s 's actuary shall provide Idearc’s FairPoint's actuary with a complete computer file containing the employee data and all other information used by Verizon's actuary or otherwise reasonably requested by FairPoint's actuary as needed to calculate the Pension Plan Asset Transfer AmountAmount (including related data and information related to such calculation and otherwise appropriate for FairPoint's actuary to consider, and any other data and information reasonably requested by FairPoint's actuary). If Idearc’s FairPoint's actuary disagrees with the determination of a Pension Plan Asset Transfer Amount, Idearc FairPoint may, within thirty (30) days after receipt from Verizon of such certification from Verizoncomputer file and all other reasonably requested information, deliver a written notice to Verizon disagreeing with such calculation and setting forth Idearc’s FairPoint's calculation of the Pension Plan Asset Transfer Amount. The Parties shall, during the fifteen (15) days following such delivery, negotiate in good faith to reach an agreement on the disputed items or amounts in order to determine, as may be required, the amount of the Pension Plan Asset Transfer Amount, which amount shall not be more than the amount thereof shown in the calculations of Idearc’s FairPoint's actuary nor less than the amount shown in the calculations of Verizon’s 's actuary. If the two actuaries are unable to agree on the amount of the Pension Plan Asset Transfer Amount during such fifteen (15)-day period, the Parties shall jointly select an independent third actuary with whom none of the parties have a material relationship, whose determination shall be binding on the Parties. The third actuary shall be directed to render a calculation of the Pension Plan Asset Transfer Amount in accordance with the provisions of this Agreement as promptly as practicable. Each of the Parties shall bear the fees, costs and expenses of their respective actuaries, and the fees, costs and expense of the third actuary shall be borne one-half by Verizon and one-half by IdearcFairPoint.