Flexible Spending Account Plans. (i) Effective no later than the Distribution Date, DevCo shall take all steps necessary or appropriate to cause a member of the DevCo Group to have in effect a flexible spending plan providing flexible spending accounts for medical and dependent care expenses (the “DevCo Flexible Spending Plan”) with terms that are substantially similar to those provided to DevCo Employees under the DevCo flexible spending account plan that shall become a SpinCo Transferred Benefit Arrangement (the “SpinCo Flexible Spending Plan”), (ii) each DevCo Employee shall cease to participate in the DevCo flexible spending account plan effective upon the date on which such plan becomes a SpinCo Transferred Benefit Arrangement, (iii) as soon as practicable after the SpinCo Flexible Spending Plan becomes effective, SpinCo will transfer all of the obligations and Liabilities attributable to the DevCo Employees, including the account balances of DevCo Employees, to the DevCo Flexible Spending Plan, and the DevCo Flexible Spending Plan shall credit each such DevCo Employee’s’ flexible spending accounts with the full account balances (i.e., the amounts collected from participating DevCo Employees and not reimbursed) as of the Effective Time that were transferred from the SpinCo Flexible Spending Plan.
Flexible Spending Account Plans. Verigy Transferred Employees and other Verigy Employees shall cease to contribute to and to otherwise actively participate in the Agilent Flexible Spending Account Plans as of the applicable Agilent Participation Discontinuance Date. Effective as of the Separation Date, Verigy shall adopt the Verigy Flexible Spending Account Plans. A Verigy Transferred Employee or other Verigy Employee shall submit claims and shall be reimbursed for those claims (if any) incurred between January 1, 2006 and the applicable Agilent Participation Discontinuance Date under the Agilent Flexible Spending Account Plans. A Verigy Transferred Employee or other Verigy Employee shall submit claims and shall be reimbursed for those claims (if any) incurred between the applicable Agilent Participation Discontinuance Date and December 31, 2006 under the Verigy Flexible Spending Account Plans. Contributions will be made to each Verigy Transferred Employee's or other Verigy Employee's accounts under the Verigy Flexible Spending Account Plans for compensation earned after the applicable Agilent Participation Discontinuance Date. Verigy not shall assume any Liabilities for benefits provided under the terms of the Agilent Flexible Spending Account Plans.
Flexible Spending Account Plans. Each Transitioned Employee shall be eligible as of his or her Employment Effective Date to participate in Supplier’s applicable health care and dependent care reimbursement accounts .
Flexible Spending Account Plans. Effective as of the Effective Time (or, with respect to a Newco Employee who becomes a Transferred Employee after the Effective Time, such later time that such Newco Employee becomes a Transferred Employee), Newco shall assume liabilities and account balances of the Weyerhaeuser Flexible Spending Account Plan maintained in the U.S. with respect to Transferred Employees and their dependents (“U.S.
Flexible Spending Account Plans. From and after the Closing Date, for purposes of the account balances of the Seller flexible spending account plan maintained in the United States with respect to Transferred Employees and their dependents (the “Seller Flexible Spending Account Plan”), which Liabilities shall be Retained Liabilities, Seller shall treat Transferred Employees who made elections under the Seller Flexible Spending Account Plan for the plan year in which the Closing Date occurs as if they are terminated employees.
Flexible Spending Account Plans. On or prior to the Closing Date, the Company shall adopt, or cause its Subsidiaries to adopt, a health-care and dependent-care reimbursement account plan for the benefit of current employees of the Acquired Companies who participate in the health-care and dependent-care reimbursement accounts under the Parent Health Plan. On or prior to the Closing Date, the Parent shall spinoff, or shall cause its Subsidiaries to spinoff, the health-care and dependent-care reimbursement account balances held under the Parent Health Plan for employees of the Acquired Companies for 1999 and shall transfer, in cash, the related assets (and liabilities) and recordkeeping information to the Company. The Company thereafter shall have all liability and obligation with respect to reimbursement of such employees under such accounts with respect to eligible health-care and dependent-care expenses incurred in 1999; provided, that, the Parent shall, at its option, act as a third party administrator with respect to such accounts during the Welfare Benefit Transition Period.
Flexible Spending Account Plans. Prior to Closing, Boise Cascade will amend the Boise Cascade Health Care Flexible Spending Account Plan and the Boise Cascade Dependent Day Care Flexible Spending Account Plan (collectively, the "Flex Plans"), to create new plans covering only the Transferred Employees ("New Plans"), and Purchaser shall adopt such New Plans and continue them in full force and effect through December 31, 1996. Boise Cascade shall provide claims administration services for such New Plans in accordance with the transition services agreement described in Section 23 hereof. The Purchase Price shall be adjusted by an amount equal to (x) the total liability for benefits under such New Plans adopted by Purchaser, less (y) the sum of (i) the amount of Transferred Employees' Salary Reduction Elections under such New Plans to be effective during the remaining calendar year after the date of Closing, plus (ii) the total amount of benefits Boise Cascade has paid (or is obligated to pay) under such New Plans up to and including the date of Closing. The amounts treated as either employer or employee contributions with respect to the Flex Plan made prior to or on the date of Closing will not constitute "plan assets" as that term is defined in ERISA and regulations thereunder, and no amounts with respect to either employee or employer contributions under the Flex Plans have ever been held in trust for the benefit of participants in the Flex Plans.
Flexible Spending Account Plans. Effective as of the Effective Time (or, with respect to a Newco Employee who becomes a Transferred Employee after the Effective Time, such later time that such Newco Employee becomes a Transferred Employee), Weyerhaeuser shall transfer or cause to be transferred to Newco an amount in cash equal to the excess, if any, of the aggregate contributions for the plan year in which the Effective Time occurs (or, with respect to a Newco Employee who becomes a Transferred Employee after the Effective Time, the plan year in which such Newco Employee becomes a Transferred Employee (such year, the “Transition Year”)) of all Transferred Employees then participating in Weyerhaeuser’s U.S. Flexible Spending Account Plan over the aggregate reimbursements for the plan year in which the Effective Time occurs (or, as applicable, the Transition Year) to all Transferred Employees under such plan. Newco shall cause such amounts to be credited to each such employee’s accounts under Newco’s (or one of its affiliate’s) corresponding U.S. Flexible Spending Account Plan, which shall be established and in effect for such employees as of the Effective Time, and all claims for reimbursement which have not been paid as of the date of the transfer to Newco (or one of its affiliates) and credited under Newco’s (or one of its affiliate’s) U.S. Flexible Spending Account Plan shall be paid pursuant to and under the terms of Newco’s (or one of its affiliate’s) U. S. Flexible
Flexible Spending Account Plans. Each employee will be eligible to participate in the Company’s flexible spending account (FSA) plans for health expenses and dependent care expenses by making an election to contribute a portion of pay. Reimbursement will be available for expenses incurred during the plan year and following the plan year through the date currently permitted by law (or later if legally permissible and administratively feasible). Forfeitures will be used to defray the administrative expenses of the program.
A. Health Care FSA. The maximum election for health expenses will be the lesser of the statutory limit (e.g., currently $2,550 for 2015) or $10,000. For any Employee who participates in both the Health Care FSA and the Health Reimbursement Account (HRA), disbursements from the Health Care FSA and HRA shall be ordered in a manner that complies with Federal law (currently Health Care FSA first, followed by HRA).
B. Dependent Care FSA. The maximum election for reimbursement for dependent care expenses will be the maximum statutorily permissible election.
Flexible Spending Account Plans. Effective as of the Closing, to the extent that any New Buyer Employee has not used all deferred amounts in a health flexible spending account plan or a dependent care assistance plan maintained by Seller, Buyer shall assume all Liabilities corresponding to such New Buyer Employee’s balances in such health flexible spending account plan or dependent care assistance account plan and Seller shall cause all records relating to such balances to be transferred to Buyer.
