Common use of Flexible Spending Account Treatment Clause in Contracts

Flexible Spending Account Treatment. Notwithstanding Sections 6.2 and 6.3 to the contrary, with respect to the portion of a Split Welfare Plan that consists of medical and dependent care flexible spending accounts (the “Bearings Flexible Account Plan”), as of the Distribution or Applicable Transfer Date, TimkenSteel will be solely responsible for all liabilities with respect to TimkenSteel Employees and Former TimkenSteel Business Employees, and the applicable TimkenSteel Spinoff Welfare Plan (the “TimkenSteel Flexible Account Plan”) will, as required under Section 6.2, give effect to the elections of TimkenSteel Employees and Former TimkenSteel Business Employees that were in effect under the corresponding Split Welfare Plan as of the Distribution Date or Applicable Transfer Date. As soon as practicable following the Distribution or Applicable Transfer Date, Timken will transfer to TimkenSteel in cash an amount equal to the total amount that TimkenSteel Employees and Former TimkenSteel Business Employees have contributed to the Bearings Flexible Account Plan through the Distribution Date or Applicable Transfer Date for the calendar year that includes the Distribution or Applicable Transfer Date less all amounts that have been paid from Bearings Flexible Account Plan through the Distribution Date or Applicable Transfer Date for medical and dependent care claims incurred by the TimkenSteel Employees and Former TimkenSteel Business Employees in the calendar year that includes the Distribution or Applicable Transfer Date (such difference, the “Flex Plan Amount”). If the Flex Plan Amount is less than $0, as soon as practicable after the Distribution or Applicable Transfer Date, TimkenSteel will transfer to Timken in cash an amount equal to all amounts that have been paid from Bearings Flexible Account Plan through the Distribution Date for medical expense and dependent care claims incurred by the TimkenSteel Employees and Former TimkenSteel Business Employees in the calendar year that includes the Distribution or Applicable Transfer Date less the total amount that TimkenSteel Employees and Former Timken Steel Business Employees have contributed to Bearings Flexible Account Plan through the Distribution Date or Applicable Transfer Date for the calendar year that includes the Distribution or Applicable Transfer Date. After the Distribution Date or Applicable Transfer Date, the TimkenSteel Flexible Account Plan will be responsible for reimbursement of all previously unreimbursable medical expense and dependent care claims incurred by TimkenSteel Employees and Former TimkenSteel Business Employees, regardless of when the claims were incurred.

Flexible Spending Account Treatment. Notwithstanding Sections 6.2 and 6.3 to the contrary, with With respect to the portion of a Split Shared Welfare Plan that consists of medical health care and dependent care flexible spending accounts (the “Bearings TriMas Flexible Account PlanAccounts”), as of the Distribution or Applicable Welfare Split Date (which, with respect to the TriMas Flexible Accounts, will be January 1, 2016) or, if later, the Applicable Transfer Date, TimkenSteel Horizon will be solely responsible for all liabilities with respect to TimkenSteel Horizon Employees, Former Horizon Employees and Former TimkenSteel Business EmployeesNew Hires, and the applicable TimkenSteel Horizon Spinoff Welfare Plan (the “TimkenSteel Horizon Flexible Account PlanAccounts”) will, as required under Section 6.2, will give effect to the elections of TimkenSteel Horizon Employees and Former TimkenSteel Business Horizon Employees that were in effect under the corresponding Split Shared Welfare Plan as of the Distribution Applicable Welfare Split Date or Applicable Transfer Date. As soon as practicable following the Distribution or Applicable Welfare Split Date or, if later, the Applicable Transfer Date, Timken TriMas will transfer to TimkenSteel Horizon in cash an amount equal to the total amount that TimkenSteel Horizon Employees and Former TimkenSteel Business Horizon Employees have contributed to the Bearings TriMas Flexible Account Plan through the Distribution Applicable Welfare Split Date or Applicable Transfer Date for the calendar year that includes the Distribution Applicable Welfare Split Date or Applicable Transfer Date less all amounts that have been paid from Bearings TriMas Flexible Account Plan through the Distribution Applicable Welfare Split Date or Applicable Transfer Date for medical health care and dependent care claims incurred by the TimkenSteel Horizon Employees and Former TimkenSteel Business Horizon Employees in the calendar year that includes the Distribution Applicable Welfare Split Date or Applicable Transfer Date (such difference, the “Flex Plan Amount”). If the Flex Plan Amount is less than $0, as soon as practicable after the Distribution or Applicable Welfare Split Date or, if later, the Applicable Transfer Date, TimkenSteel Horizon will transfer to Timken TriMas in cash an amount equal to all amounts that have been paid from Bearings the TriMas Flexible Account Plan Accounts through the Distribution Date Applicable Welfare Split or Applicable Transfer Date, as applicable, for medical health care expense and dependent care claims incurred by the TimkenSteel Horizon Employees and Former TimkenSteel Business Horizon Employees in the calendar year that includes the Distribution Applicable Welfare Split Date or Applicable Transfer Date less the total amount that TimkenSteel Horizon Employees and Former Timken Steel TriMas Horizon Business Employees have contributed to Bearings TriMas Flexible Account Plan Accounts through the Distribution Applicable Welfare Split Date or Applicable Transfer Date for the calendar year that includes the Distribution or Applicable Transfer Date. After the Distribution Welfare Split Date or Applicable Transfer Date, in accordance with the TimkenSteel terms of the Transition Services Agreement. TriMas and Horizon may agree to satisfy the adjustment for the Flex Plan Amount being greater than or less than $0, as applicable, through a credit or debit under the Transition Services Agreement instead of satisfying such adjustment through the cash transfer described in the foregoing provisions of this Section 6.2. After the Applicable Welfare Split Date or, if later, the Applicable Transfer Date, the Horizon Flexible Account Plan Accounts will be responsible for reimbursement of all previously unreimbursable medical health care expense and dependent care claims incurred by TimkenSteel Horizon Employees and Former TimkenSteel Business Horizon Employees, regardless of when the claims were incurred.

Flexible Spending Account Treatment. Notwithstanding Sections 6.2 and 6.3 to the contrary, with respect to the portion of a Split Welfare Plan that consists of medical and dependent care flexible spending accounts (the “Bearings Flexible Account Plan”), as of the Distribution or Applicable Transfer Date, TimkenSteel Exhibit 10.2 will be solely responsible for all liabilities with respect to TimkenSteel Employees and Former TimkenSteel Business Employees, and the applicable TimkenSteel Spinoff Welfare Plan (the “TimkenSteel Flexible Account Plan”) will, as required under Section 6.2, give effect to the elections of TimkenSteel Employees and Former TimkenSteel Business Employees that were in effect under the corresponding Split Welfare Plan as of the Distribution Date or Applicable Transfer Date. As soon as practicable following the Distribution or Applicable Transfer Date, Timken will transfer to TimkenSteel in cash an amount equal to the total amount that TimkenSteel Employees and Former TimkenSteel Business Employees have contributed to the Bearings Flexible Account Plan through the Distribution Date or Applicable Transfer Date for the calendar year that includes the Distribution or Applicable Transfer Date less all amounts that have been paid from Bearings Flexible Account Plan through the Distribution Date or Applicable Transfer Date for medical and dependent care claims incurred by the TimkenSteel Employees and Former TimkenSteel Business Employees in the calendar year that includes the Distribution or Applicable Transfer Date (such difference, the “Flex Plan Amount”). If the Flex Plan Amount is less than $0, as soon as practicable after the Distribution or Applicable Transfer Date, TimkenSteel will transfer to Timken in cash an amount equal to all amounts that have been paid from Bearings Flexible Account Plan through the Distribution Date for medical expense and dependent care claims incurred by the TimkenSteel Employees and Former TimkenSteel Business Employees in the calendar year that includes the Distribution or Applicable Transfer Date less the total amount that TimkenSteel Employees and Former Timken Steel Business Employees have contributed to Bearings Flexible Account Plan through the Distribution Date or Applicable Transfer Date for the calendar year that includes the Distribution or Applicable Transfer Date. After the Distribution Date or Applicable Transfer Date, the TimkenSteel Flexible Account Plan will be responsible for reimbursement of all previously unreimbursable medical expense and dependent care claims incurred by TimkenSteel Employees and Former TimkenSteel Business Employees, regardless of when the claims were incurred.