Cessation of Coverage in Ikaria Plans Sample Clauses

Cessation of Coverage in Ikaria Plans. Ikaria maintains health and welfare plans for the benefit of eligible Employees (the “Ikaria Welfare Plans”). On the Distribution Date (or Transfer Date, as applicable) or such later date as may be agreed to by the Parties pursuant to Section 2.2 hereof or the Transition Services Agreement, each person who is an R&DCo Employee on such date shall cease to be covered under the Ikaria Welfare Plans. Notwithstanding the immediately preceding sentence, with respect to any R&DCo Employee who would not be eligible for coverage under any R&DCo Plan because such person is not actively at work on the Distribution Date (or Transfer Date) due to any medical, sickness, accident leave or any other approved leave of absence, Ikaria shall administer claims for such persons on behalf of R&DCo as though the relevant Ikaria Welfare Plan had continued to be applicable (at the cost and expense of R&DCo) until the earliest to occur of (i) the date such person first resumes active employment with ServicesCo; (ii) the date such person ceases to be an Employee of ServicesCo (including, without limitation, by reason of not returning to work at the expiration of any approved leave); (iii) the date on which such approved leave of absence expires without such person returning to active employment or terminating employment; and (iv) the date, if any, more than six months following the Distribution Date (or Transfer Date) that Ikaria shall choose, in its discretion, to cease to provide such continued coverage upon not less than 90 days advance written notice to R&DCo and the affected R&DCo Employees.