Common use of Additional Details Regarding Flexible Spending Accounts Clause in Contracts

Additional Details Regarding Flexible Spending Accounts. For any Crane NXT, Co. Welfare Plan Participant who has an election to contribute to, and/or a balance under, a health care flexible spending account and/or dependent care flexible spending account under the Crane Company Welfare Plans (each a “Crane Company FSA”) immediately prior to the Distribution Date, such election to contribute to, and/or balance under, as applicable, the Crane Company FSA shall automatically be transferred to the corresponding health care flexible spending account and/or dependent care flexible spending account under the Crane NXT, Co. Welfare Plan (each, a “Crane NXT, Co. FSA”) as of the Effective Time. It is the intention of the Parties that ▇▇▇▇▇ NXT, Co. Welfare Plan Participants’ balances under the applicable Crane Company FSA shall automatically transfer to the corresponding Crane NXT, Co. FSA regardless of whether such balances are negative or positive (i.e., regardless of whether such Crane NXT, Co. Welfare Plan Participants’ Crane Company FSAs are in a deficit or surplus), and that such Crane NXT, Co. Welfare Plan Participants’ payroll deductions to the applicable Crane Company FSA immediately prior to the Distribution Date shall automatically continue under the corresponding Crane NXT, Co. FSA after the Effective Time. Crane Company has assumed and is responsible for the funding of payment for any unpaid covered claim and eligible expense incurred by a Crane NXT, Co. Welfare Plan Participant under a Crane Company FSA on or before the Distribution Date, regardless of when such claim is submitted for reimbursement, and ▇▇▇▇▇ NXT, Co. has assumed and is responsible for the funding of payment for any unpaid covered claim and eligible expense incurred by a Crane NXT, Co. Welfare Plan Participant under a Crane NXT, Co. FSA after the Distribution Date.