Common use of Transportation Reimbursement Accounts Clause in Contracts

Transportation Reimbursement Accounts. Effective as of the AOL Employee Transfer Time, AOL shall, or shall cause its Affiliates to, have in effect a transportation reimbursement account plan (the “AOL TRA Plan”). Promptly following the AOL Employee Transfer Time, TWX shall transfer to AOL all relevant records relating to accounts of AOL Employees under the transportation reimbursement account plan sponsored by TWX or any of its Affiliates (the “TWX TRA Plan”) and any other information necessary for the administration of the AOL TRA Plan with respect to such accounts. AOL shall, or shall cause its Affiliates to, cause the AOL TRA Plan to accept, effective as of the AOL Employee Transfer Time, a spin-off of the accounts of individuals who, as of the AOL Employee Transfer Time, are AOL Employees and who have an account under the TWX TRA Plan, from the TWX TRA 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 an account under the TWX TRA 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 claims by all individuals whose accounts transferred pursuant to this Section 10.01 under the TWX TRA 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.

Transportation Reimbursement Accounts. Effective as of the AOL Employee Transfer Time, AOL shall, or shall cause its Affiliates to, have in effect a transportation reimbursement account plan (the “AOL TRA Plan”). Promptly following the AOL Employee Transfer Time, TWX shall transfer to AOL all relevant records relating to accounts of AOL Employees under the transportation reimbursement account plan sponsored by TWX or any of its Affiliates (the “TWX TRA Plan”) and any other information necessary for the administration of the AOL TRA Plan with respect to such accounts. AOL shall, or shall cause its Affiliates to, cause the AOL TRA Plan to accept, effective as of the AOL Employee Transfer Time, a spin-off of the accounts of individuals who, as of the AOL Employee Transfer Time, are AOL Employees and who have an account under the TWX TRA Plan, from the TWX TRA 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 an account under the TWX TRA 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 claims by all individuals whose accounts transferred pursuant to this Section 10.01 under the TWX TRA 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