Common use of Health Savings Accounts Clause in Contracts

Health Savings Accounts. As of the Operational Separation Date, UpstreamCo shall, or shall cause a member of the UpstreamCo Group to, establish an UpstreamCo Welfare Plan that will provide health savings account benefits to UpstreamCo Group Employees on and after the Operational Separation Date (an “UpstreamCo HSA”). It is the intention of the Parties that all activity under an UpstreamCo Group Employee’s health savings account under a Parent Welfare Plan (a “Parent HSA”) for the year in which the Operational Separation Date occurs be treated instead as activity under the corresponding account under the UpstreamCo HSA, such that (i) any period of participation by an UpstreamCo Group Employee in a Parent HSA during the year in which the Operational Separation Date occurs will be deemed a period when such UpstreamCo Group Employee participated in the corresponding UpstreamCo HSA; (ii) all expenses incurred during such period will be deemed incurred while such UpstreamCo Group Employee’s coverage was in effect under the corresponding UpstreamCo HSA; and (iii) all elections and reimbursements made with respect to such period under the Parent HSA will be deemed to have been made with respect to the corresponding UpstreamCo HSA.

Health Savings Accounts. As of the Operational Separation Date, UpstreamCo INSW shall, or shall cause a member of the UpstreamCo INSW Group to, establish an UpstreamCo a INSW Welfare Plan that will provide health savings account benefits to UpstreamCo INSW Group Employees on and after the Operational Separation Date Transfer Effective Time (an a “UpstreamCo INSW HSA”). It is the intention of the Parties that all activity under an UpstreamCo a INSW Group Employee’s health savings account under a Parent an OSG Welfare Plan (a “Parent OSG HSA”) for the year in which the Operational Separation Date Transfer Effective Time occurs be treated instead as activity under the corresponding account under the UpstreamCo INSW HSA, such that (i) any period of participation by an UpstreamCo a INSW Group Employee in a Parent an OSG HSA during the year in which the Operational Separation Date Transfer Effective Time occurs will be deemed a period when such UpstreamCo INSW Group Employee participated in the corresponding UpstreamCo INSW HSA; (ii) all expenses incurred during such period will be deemed incurred while such UpstreamCo INSW Group Employee’s coverage was in effect under the corresponding UpstreamCo INSW HSA; and (iii) all elections and reimbursements made with respect to such period under the Parent OSG HSA will be deemed to have been made with respect to the corresponding UpstreamCo INSW HSA.

Health Savings Accounts. As of the Operational Separation Distribution Date, UpstreamCo CoalCo shall, or shall cause a member of the UpstreamCo CoalCo Group to, establish an UpstreamCo a CoalCo Welfare Plan that will provide health savings account benefits to UpstreamCo CoalCo Group Employees on and after the Operational Separation Distribution Date (an “UpstreamCo CoalCo HSA”). It is the intention of the Parties that all activity under an UpstreamCo a CoalCo Group Employee’s health savings account under a Parent Welfare Plan (a “Parent HSA”) for the year in which the Operational Separation Distribution Date occurs be treated instead as activity under the corresponding account under the UpstreamCo CoalCo HSA, such that (i) any period of participation by an UpstreamCo a CoalCo Group Employee in a Parent HSA during the year in which the Operational Separation Distribution Date occurs will be deemed a period when such UpstreamCo CoalCo Group Employee participated in the corresponding UpstreamCo CoalCo HSA; (ii) all expenses incurred during such period will be deemed incurred while such UpstreamCo CoalCo Group Employee’s coverage was in effect under the corresponding UpstreamCo CoalCo HSA; and (iii) all elections and reimbursements made with respect to such period under the Parent HSA will be deemed to have been made with respect to the corresponding UpstreamCo CoalCo HSA.