Common use of Coverage and Contribution Elections Clause in Contracts

Coverage and Contribution Elections. As of the Plan Transition Date, the Company shall cause the Company Health and Welfare Plans (including the Company Flexible Benefits Plans) to recognize and maintain all coverage and contribution elections made by Company Transferred Employees under the corresponding Pfizer Health and Welfare Plans (including the Pfizer Flexible Benefits Plans) and apply such elections under the Company Health and Welfare Plans for the remainder of the period or periods for which such elections are by their terms applicable. All waiting periods and pre-existing condition exclusions and actively-at-work requirements shall be waived with respect to the Company Transferred Employees who were not subject to any such waiting periods, exclusions or requirements under a Pfizer Health and Welfare Plan in which such employees participate immediately prior to the Plan Transition Date. For the avoidance of doubt, nothing herein shall prevent the Company from conducting open enrollment and accepting elections under Company Health and Welfare Plans.