Benefits Effective Clause Samples

Benefits Effective. Upon a Change in Control. In the event a "non-approved" Change in Control occurs, Executive shall be entitled to the following benefits: (i) All stock options issued by Sensormatic to Executive, whether or not then exercisable, shall remain fully exercisable or shall become fully exercisable immediately (or, notwithstanding the foregoing, in the event of an Attempted Change in Control involving a proposed Reorganization Event (as such term is defined in Section 6(a)(ii) hereof)), such options shall become fully exercisable thirty days before the date of such Reorganization Event), and such options shall remain outstanding and fully exercisable for the stated term thereof or until the later of (A) nine months following the voluntary or involuntary termination of Executive's employment with Sensormatic (or, at the option of Executive, in the case of an incentive stock option, three months following such termination) or (B) the end of the respective post-termination exercisability periods provided for in such options (including if applicable, such periods in the event of death or disability); provided, that in no event shall the term of such options be extended beyond their respective original terms. In addition, any deferred vesting or forfeiture provisions applicable to any shares of Sensormatic stock awarded to or otherwise held by Executive shall be without further force or effect, and Executive shall have the unrestricted right to such shares. (ii) In the event that (A) such Change in Control is effected through (w) a tender or exchange offer (a "Tender Offer") or (x) any means, in one or more transactions, with the result in either case that any Person becomes the Beneficial Owner, directly or indirectly, of securities of Sensormatic representing 50% or more of the combined voting power of Sensormatic's then outstanding voting securities (any such Change in Control referred to in this clause (A), including pursuant to a Tender Offer, being hereinafter referred to as a "Majority (1) any or all stock options issued by Sensormatic to Executive, whether or not then exercisable, and/or any stock options issued upon conversion of or in exchange for any such Sensormatic stock options pursuant to any such Reorganization Event ("Conversion Options"), at a purchase price equal to the excess of the aggregate Fair Market Value (as defined below) of the shares of Sensormatic Common Stock subject to such Sensormatic stock options over the aggregate exercise price of ...

Benefits Effective. July 7, 2012 June 1, 2013 June 1, 2014 Health & Security $7.41* $7.41* $7.41* Retirement $5.50 $5.50 $5.50 Apprenticeship** $0.69 $0.71 $0.73 *$0.60 designated for retiree medical **Apprenticeship contribution is 1.4% of journeyman ▇▇▇▇▇▇▇▇▇ total package UNION DUES CHECK-OFF ASSIGNMENTS: In accordance with the terms of an individual and voluntary written authorization for check-off of Membership dues in the form permitted by the provisions of Section 302 (c) of the Labor Management Act, as amended, the Employer agrees to deduct for working dues an amount of wages once each week which has been or will be in the future authorized by the Membership. The working dues, which are deducted, shall be paid monthly by the fifteenth (15th) day of the month following the month in which they are deducted. The Employers will remit the Union dues deducted on the transmittal forms used for fringe benefit contributions and that the pro-rata costs of such forms and the collection and accounting thereof, including any costs incurred by the administrator for acting as authorization depository, will be paid by the Union to the fringe benefit administrator. Dues deduction may be changed once per year on the anniversary date of the contract. FRINGE OPTION: If additional sums are necessary to maintain the fringe benefits, by mutual agreement, on sixty (60) days’ notice, such sums may be deducted from wages.

Benefits Effective. June 1, 2019 June 1, 2020 June 1, 2021