FSA Participation Period definition
Examples of FSA Participation Period in a sentence
During the FSA Participation Period, Purchaser shall continue the salary reduction elections made by the FSA Participants as in effect on the Closing Date and, not later than five business days following the end of each payroll period, shall pay to Parent the amount of such salary reduction elections for the applicable payroll period.
Purchaser agrees to cause the Purchaser Cafeteria Plan to accept a spin-off of the flexible spending reimbursement accounts from the Parent Cafeteria Plan and to honor and continue through the end of the FSA Participation Period the elections made by each FSA Participant under the Parent Cafeteria Plan in respect of such flexible spending reimbursement accounts that are in effect immediately prior to the Closing.
During the FSA Participation Period, each FSA Participant shall be entitled to reimbursement from such FSA Participant’s flexible spending reimbursement account under the Parent Cafeteria Plan on the same terms and conditions as would have been applicable if such FSA Participant were employed by Parent during the FSA Participation Period.