Common use of Flexible Spending Arrangements Clause in Contracts

Flexible Spending Arrangements. Effective as of the AOL Employee Transfer Time, AOL shall, or shall cause its Affiliates to, have in effect flexible spending arrangements under a cafeteria plan qualifying under Section 125 of the Code (“AOL Cafeteria Plan”). Promptly following the AOL Employee Transfer Time, with respect to each individual who, as of the AOL Employee Transfer Time, is an AOL LLC Employee, a Former AOL LLC Employee or a Transferred Entity Employee, and who has a flexible spending arrangement under the cafeteria plan sponsored by TWX or any of its Affiliates (the “TWX Cafeteria Plan”), TWX shall transfer to AOL all relevant records relating to flexible spending arrangements of such AOL LLC Employees, Former AOL LLC Employees and Transferred Entity Employees under the TWX Cafeteria Plan and any other information necessary for the administration of the AOL Cafeteria Plan with respect to such flexible spending arrangements. AOL shall, or shall cause its Affiliates to, cause the AOL Cafeteria Plan to accept, effective as of the AOL Employee Transfer Time, a spin-off of the flexible spending arrangements of individuals who, as of the AOL Employee Transfer Time, are AOL LLC Employees, Former AOL LLC Employees and Transferred Entity Employees and who have a flexible spending arrangement under the TWX Cafeteria Plan, from the TWX Cafeteria Plan, and to honor and continue, through the end of the plan year in which the AOL Employee Transfer Time occurs, the elections made by each such employee with respect to a flexible spending arrangement under the TWX Cafeteria Plan for such plan year. Notwithstanding the second sentence of Section 5.03 above, from and after the AOL Employee Transfer Time, the AOL Group shall assume and be solely responsible for all flexible spending arrangement claims by all individuals whose flexible spending arrangements transferred pursuant to this Section 9.01 under the TWX Cafeteria Plan that were incurred in the year in which the AOL Employee Transfer Time occurs, whether incurred prior to, at or after the AOL Employee Transfer Time, that have not been paid in full as of the AOL Employee Transfer Time.

Flexible Spending Arrangements. Effective as As of the AOL Employee Transfer TimeLease Termination Date, AOL NTUS shall, or shall cause any of its Affiliates to, maintain or establish a cafeteria plan that includes a healthcare flexible spending account program and a dependent care flexible spending account program (a "Purchaser FSA") for the benefit of each Continuing Employee who, in the portion of the calendar year on or prior to the Employee Lease Termination Date, contributed to the corresponding plan sponsored or maintained by the American Seller or any of its Affiliates that included a healthcare flexible spending account program and a dependent care flexible spending account program (the "Seller FSA"). As of the Employee Lease Termination Date, NTUS or its Affiliate shall cause the balances of each Continuing Employee's accounts under the Purchaser FSA to be equal to the Continuing Employee's balances in the applicable accounts under the Seller FSA. If the aggregate amount withheld from Continuing Employees' compensation under the Seller FSA for the plan year in which the Employee Lease Termination Date occurs (the "FSA Year") exceeds the aggregate amount of reimbursements paid to Continuing Employees prior to the Employee Lease Termination Date under the Seller FSA for the FSA Year, the American Seller or its Affiliate shall transfer (or cause to be transferred) to NTUS, within thirty (30) days after the Employee Lease Termination Date, a cash payment equal to any such excess. If the aggregate amount of reimbursements paid to Continuing Employees under the Seller FSA prior to the Employee Lease Termination Date for the FSA Year exceeds the aggregate amount withheld prior to the Employee Lease Termination Date from the Continuing Employees' compensation under the Seller FSA for the FSA Year, NTUS shall transfer (or cause to be transferred) to the American Seller or its Affiliate, within thirty (30) days after the Employee Lease Termination Date, a cash payment equal to any such excess. NTUS shall, or shall cause its Affiliates to, have in effect flexible spending arrangements under a cafeteria plan qualifying under Section 125 of the Code (“AOL Cafeteria Plan”). Promptly following the AOL Employee Transfer Time, with respect to each individual who, as of the AOL Employee Transfer Time, is an AOL LLC Employee, a Former AOL LLC Employee or a Transferred Entity Employee, and who has a flexible spending arrangement under the cafeteria plan sponsored by TWX or any of its Affiliates (the “TWX Cafeteria Plan”), TWX shall transfer to AOL all relevant records relating to flexible spending arrangements of such AOL LLC Employees, Former AOL LLC Employees and Transferred Entity Employees under the TWX Cafeteria Plan and any other information necessary for the administration of the AOL Cafeteria Plan with respect to such flexible spending arrangements. AOL shall, or shall cause its Affiliates applicable Affiliate to, cause the AOL Cafeteria Plan Purchaser FSA to accept, effective as of the AOL Employee Transfer Time, a spin-off of the flexible spending arrangements of individuals who, as of the AOL Employee Transfer Time, are AOL LLC Employees, Former AOL LLC Employees and Transferred Entity Employees and who have a flexible spending arrangement under the TWX Cafeteria Plan, from the TWX Cafeteria Planhonor, and to honor and continue, continue through the end of the plan year in which the AOL Employee Transfer Time occursFSA Year, the elections made by each such employee Continuing Employees under the Seller FSA with respect to a the flexible spending arrangement under reimbursement accounts that are in effect immediately prior to the TWX Cafeteria Plan for such plan yearEmployee Lease Termination Date. Notwithstanding As of the second sentence of Section 5.03 aboveEmployee Lease Termination Date, from and after the AOL Employee Transfer Time, the AOL Group NTUS shall assume and be solely responsible for all flexible spending arrangement claims for reimbursement by all individuals whose flexible spending arrangements transferred pursuant to this Section 9.01 under the TWX Cafeteria Plan that were incurred in the year in which the AOL Employee Transfer Time occursContinuing Employees, whether incurred prior to, at on, or after the AOL Employee Transfer TimeLease Termination Date, that have not been paid in full as of the AOL Employee Transfer TimeLease Termination Date, which claims shall be paid pursuant to and under the terms of the Purchaser FSA.

Flexible Spending Arrangements. Effective as of the AOL Employee Transfer Time, AOL shall, or shall cause its Affiliates to, have in effect flexible spending arrangements under a cafeteria plan qualifying under Section 125 of the Code (“AOL Cafeteria Plan”). Promptly following the AOL Employee Transfer Time, with respect to each individual who, as of the AOL Employee Transfer Time, is an AOL LLC Employee, a Former AOL LLC Employee or a Transferred Entity Employee, and who has a flexible spending arrangement under the cafeteria plan sponsored by TWX or any of its Affiliates (the “TWX Cafeteria Plan”), TWX shall transfer to AOL all relevant records relating to flexible spending arrangements of such AOL LLC Employees, Former AOL LLC Employees and Transferred Entity Employees under the TWX Cafeteria Plan and any other information necessary for the administration of the AOL Cafeteria Plan with respect to such flexible spending arrangements. AOL shall, or shall cause its Affiliates to, cause the AOL Cafeteria Plan to accept, effective as of the AOL Employee Transfer Time, a spin-off of the flexible spending arrangements of individuals who, as of the AOL Employee Transfer Time, are AOL LLC Employees, Former AOL LLC Employees and Transferred Entity Employees and who have a flexible spending arrangement under the TWX Cafeteria Plan, from the TWX Cafeteria Plan, and to honor and continue, through the end of the plan year in which the AOL Employee Transfer Time occurs, the elections made by each such employee with respect to a flexible spending arrangement under the TWX Cafeteria Plan for such plan year. Notwithstanding the second sentence of Section 5.03 above, from and after the AOL Employee Transfer Time, the AOL Group shall assume and be solely responsible for all flexible spending arrangement claims by all individuals whose flexible spending arrangements transferred pursuant to this Section 9.01 under the TWX Cafeteria Plan that were incurred in the year in which the AOL Employee Transfer Time occurs, whether incurred prior to, at or after the AOL Employee Transfer Time, that have not been paid in full as of the AOL Employee Transfer Time.. Table of Contents