Common use of Section 125 Plans Clause in Contracts

Section 125 Plans. (i) Effective on the date that Healthcare establishes the Healthcare Health Plans, Healthcare shall also establish, or cause to be established, a Healthcare Section 125 Plan and on and after that date Healthcare shall be solely responsible for the Healthcare Section 125 Plan. Healthcare Employees shall continue to participate in the Tyco Section 125 Plan until the date Healthcare establishes the Healthcare Section 125 Plan. The existing elections for Healthcare Employees participating in the Tyco Section 125 Plan and for newly-eligible employees of Healthcare who elect to participate in the Tyco Section 125 Plan shall remain in effect in the Healthcare Section 125 Plan through the end of the applicable Section 125 plan year (including any grace period) in which Healthcare Employees cease to participate in the Tyco Section 125 Plan. (ii) Effective on the date that Electronics establishes the Electronics Health Plans, Electronics shall also establish, or cause to be established, an Electronics Section 125 Plan and on and after that date Electronics shall be solely responsible for the Electronics Section 125 Plan. Electronics Employees shall continue to participate in the Tyco Section 125 Plan until the date Electronics establishes the Electronics Section 125 Plan. The existing elections for Electronics Employees participating in the Tyco Section 125 Plan and for newly-eligible employees of Electronics who elect to participate in the Tyco Section 125 Plan shall remain in effect in the Electronics Section 125 Plan through the end of the applicable Section 125 plan year (including any grace period) in which Electronics Employees cease to participate in the Tyco Section 125 Plan.

Section 125 Plans. (i) Effective on the date that Healthcare establishes the Healthcare Health Plans, Healthcare shall also establish, or cause to be established, a Healthcare Section 125 Plan and on and after that date Healthcare shall be solely responsible for the management and administration of the Healthcare Section 125 Plan. Healthcare Employees shall continue to participate in the Tyco Section 125 Plan until the date Healthcare establishes the Healthcare Section 125 Plan. The existing elections for Healthcare Employees participating in the Tyco Section 125 Plan and for newly-eligible employees of Healthcare who elect to participate in the Tyco Section 125 Plan shall remain in effect in the Healthcare Section 125 Plan through the end of the applicable Section 125 plan year (including any grace period) in which Healthcare Employees cease to participate in the Tyco Section 125 Plan. (ii) Effective on the date that Electronics establishes the Electronics Health Plans, Electronics shall also establish, or cause to be established, an Electronics Section 125 Plan and on and after that date Electronics shall be solely responsible for the management and administration of the Electronics Section 125 Plan. Electronics Employees shall continue to participate in the Tyco Section 125 Plan until the date Electronics establishes the Electronics Section 125 Plan. The existing elections for Electronics Employees participating in the Tyco Section 125 Plan and for newly-eligible employees of Electronics who elect to participate in the Tyco Section 125 Plan shall remain in effect in the Electronics Section 125 Plan through the end of the applicable Section 125 plan year (including any grace period) in which Electronics Employees cease to participate in the Tyco Section 125 Plan.