Flexible Spending Account Plans. Effective not later than the Effective Time, Parent shall, or shall cause the Parent Subsidiaries to, have in effect flexible spending arrangements under a cafeteria plan qualifying under Section 125 of the Code (the “New Flexible Spending Account Plan”), and from and after the Effective Time, Parent shall be liable for all Liabilities and account balances of the Weyerhaeuser Flexible Spending Account Plan maintained in the United States with respect to WRECO Employees and their dependents (the “Weyerhaeuser Flexible Spending Account Plan”). From and after the Effective Time, all claims for reimbursement which have not been paid as of the Distribution Date and credited under the New Flexible Spending Account Plan shall be paid pursuant to and under the terms of the New Flexible Spending Account Plan. As soon as practicable following the Effective Time, (i) Weyerhaeuser shall, or shall cause the Weyerhaeuser Subsidiaries to, transfer to Parent or the applicable Parent Subsidiary an amount in cash equal to the excess, if any, of the aggregate contributions to the Weyerhaeuser Flexible Spending Account Plan made by WRECO Employees prior to the Effective Time for the plan year in which the Effective Time occurs over the aggregate reimbursement payouts made to WRECO Employees prior to the Effective Time for such year from such plan and (ii) Parent shall, or shall cause the Parent Subsidiaries to, cause such amounts to be credited to each such WRECO Employee’s accounts under the New Flexible Spending Account Plan. In connection with such transfer, Parent shall deem that such employees’ deferral elections made under the Weyerhaeuser Flexible Spending Account Plan for the plan year in which the Effective Time occurs shall continue in effect under the New Flexible Spending Account Plan for the remainder of the plan year in which the Effective Time occurs. If the aggregate reimbursement payouts made to WRECO Employees from the Weyerhaeuser Flexible Spending Account Plan prior to the Effective Time for the plan year in which the Effective Time occurs exceed the aggregate accumulated contributions made by the WRECO Employees to such plan prior to the Effective Time for such plan year, Parent shall make a payment equal to the value of such excess to Weyerhaeuser as soon as practicable following Parent’s receipt of additional contributions from the applicable WRECO Employee.
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. 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. 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 Spending Account Plan. In connection with such transfer, Newco shall deem that such employees’ deferral elections made under Weyerhaeuser’s U.S. Flexible Spending Account Plan for the plan year in which the Closing occurs (or, as applicable, the Transition Year) shall continue in effect under Newco’s (or one of its affiliate’s) U.S. Flexible Spending Account Plan for the remainder of the plan year in which the Closing occurs (or, as applicable, the Transition Year).
Flexible Spending Account Plans. Purchaser shall use commercially reasonable efforts, or shall use commercially reasonable efforts to cause its Affiliates, to sponsor or designate a healthcare flexible spending account plan and a dependent care flexible spending account plan (collectively, “Purchaser FSA Plans”) for each Transferred Employee who, in the portion of the calendar year on or prior to the Closing Date, contributed to a healthcare flexible spending account plan or dependent care flexible spending account plan, as applicable, maintained by Seller or its Affiliates (collectively, “Seller FSA Plans”). The beginning balance as of the Closing Date in each Purchaser FSA Plan shall be the unused portion of the balance in the analogous Seller FSA Plan. Purchaser shall assume and be solely responsible for all claims for reimbursement by Transferred Employees following the Closing Date, whether incurred prior to, on or after the Closing Date, that have not been paid in full as of the Closing Date, which claims shall be paid pursuant to and under the terms of the Purchaser FSA Plans.
Flexible Spending Account Plans. Beginning on his or her Employment Effective Date, Service Provider shall make available to all Transitioned Employees reimbursement account benefits for health care and dependent care under its applicable plans.
