Health Savings Accounts. Without limiting Section 6.01(a), before the Effective Time, Adient shall, or shall cause a member of the Adient Group to, establish an Adient U.S. Welfare Plan that will provide health savings account benefits to Adient Group Employees who are U.S. Employees on and after the Effective Time (or, if earlier, the date on which the applicable Welfare Plan is established) (a “Adient HSA”). It is the intention of the Parties that all activity under such an Adient Group Employee’s health savings account under a Xxxxxxx Controls Welfare Plan (a “Xxxxxxx Controls HSA”) for the year in which the Effective Time occurs be treated instead as activity under the corresponding account under the Adient HSA, such that (i) any period of participation by such Adient Group Employee in a Xxxxxxx Controls HSA during the year in which the Effective Time occurs will be deemed a period when such Adient Group Employee participated in the corresponding Adient HSA; (ii) all expenses incurred during such period will be deemed incurred while such Adient Group Employee’s coverage was in effect under the corresponding Adient HSA; and (iii) all elections and reimbursements made with respect to such period under the Xxxxxxx Controls HSA will be deemed to have been made with respect to the corresponding Adient HSA.
Appears in 5 contracts
Samples: Employee Matters Agreement, Employee Matters Agreement, Employee Matters Agreement (Adient LTD)
