HON » Topics » Purchasers FSAs

This excerpt taken from the HON 8-K filed Jun 11, 2008.
Purchaser’s FSAs”) which shall (i) permit immediate participation as of the Benefit Transition Date for all Transferred US Employees who were participating in Sellers’ FSAs as of the day before the Benefit Transition Date, (ii) allow elections of such Transferred US Employees for the plan year beginning before but ending after the Benefit Transition Date, if any, to be honored in full and (iii) accept for reimbursement any claims related to any such plan year and eligible for reimbursement on the basis of participant elections initially made under Sellers' FSAs for such plan year.

                   (b)        Non-US Employees. This Section 5.8(b) applies only to Employees or Former Employees employed as of the Closing Date by, or who terminated employment the Transferred Entities while employed in, the Non-United States Business.

                             (i)         Employment. Each Employee employed by Sellers, the Transferred Entities or any Affiliate in the Non-United States Business, whether hourly or salaried, and who is actively at work on the Closing Date, or who is absent on the Closing Date due to vacation or holiday leave, whether paid or unpaid, shall be referred to as a “

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