Common use of Dependent Care and Medical Flexible Spending Arrangements Clause in Contracts

Dependent Care and Medical Flexible Spending Arrangements. (a) Effective as of December 31, 2013, Time Employees and Salary Continuation Former Employees ceased participation in the dependent care and medical flexible spending arrangements under each cafeteria plan qualifying under Section 125 or Section 129 of the Code sponsored by any member of the TWX Group (the “TWX Flexible Spending Account Plan”). Effective as of January 1, 2014, Time or its Subsidiaries established the Time Inc. Flexible Spending Account Plan (the “Time Flexible Spending Account Plan”) for the purpose of providing eligible Time Employees, Salary Continuation Former Employees and their respective dependents with a means of obtaining reimbursement of dependent care assistance expenses and uninsured or noncovered medical expenses, and ceased to be “employing companies” under, and Time Employees and Salary Continuation Former Employees ceased to be eligible to participate in, the TWX Flexible Spending Account Plan. From and after January 1, 2014, the Time Group is solely responsible for all dependent care and medical flexible spending arrangement claims by participants in the Time Flexible Spending Account Plan, other than claims for expenses incurred relating to amounts contributed to the dependent care and medical flexible spending arrangements under the TWX Flexible Spending Account Plan prior to January 1, 2014. The TWX Group shall be solely responsible for all dependent care and flexible spending arrangement claims by Time Employees, Salary Continuation Former Employees and Former Time Employees participating in the TWX Flexible Spending Account Plan prior to January 1, 2014, relating to amounts contributed to the dependent care and medical flexible spending arrangements under the TWX Flexible Spending Account Plan prior to January 1, 2014.