FRINGE BENEFIT BOND Sample Clauses

FRINGE BENEFIT BOND. 20.1 Any Employer that becomes delinquent in payment of the employee benefit contributions listed under this Collective Bargaining Agreement must post a fringe benefit bond (“Bond’) in the greater amount of twenty-five thousand dollar ($25,000), or the sum of the contribution amount of the highest three (3) months out of the twelve months preceding the month they first went delinquent, with the Trust Funds’ Third Party Administrator. The Bond shall be expressly payable to the Trust Funds and shall remain in full force and effect for the life of the Agreement and any extension, renewals or replacements thereof. 20.2 In the event an Employer fails at any time to secure, maintain, renew or otherwise keep the Bond in full force and effect, in accordance with this Article, a written notice (“Bond Notice”) shall be provided stating that the Employer is in violation of this Agreement and demanding that the Employer obtain and produce satisfactory evidence documenting the existence of a suitable Bond within five (5) business days from the date of receipt of the written Bond Notice. The Bond Notice may be provided to the Employer by the Union, the Third-Party Administrator and/or the Trust Funds. If an Employer fails to remedy the violation within five (5) working days following receipt of the Bond Notice, said Employer shall be deemed in default of this Article. The Union shall then be free (notwithstanding the express “no strike” clause of Section 15.1 in this Agreement) to remove employees from and take other economic action against the Employer. Any employees removed from a job by the Union shall not be subject to discipline by the Employer, and, in addition, the employees so removed shall be entitled to receive eight (8) hours pay at their regular wage rate, including the fringe benefits listed in this Article, for every workday lost. 20.3 Nothing in this Article shall limit the Trustees of the various Trust Funds defined in this Agreement (Section 19.1) from requiring an Employer who is delinquent in the payment of contributions from furnishing the Trust Funds with any additional Bond(s) as they deem appropriate to secure the Employer’s contribution payment obligations under the circumstances. 20.4 This Article is not subject to Article 21(“Dispute-Settlement & Arbitration”).
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FRINGE BENEFIT BOND. Effective January 1, 2006, Employers performing work covered by this Agreement shall be required to post a twenty-five thousand dollar ($25,000) fringe benefit bond with the administrative agent for the Northwest Ironworkers Trust Funds to ensure payment of delinquent contributions, liquidated damages, costs of suit, and attorney fees to all of the Northwest Ironworkers Trust Funds to which Employers are required to contribute by the terms of this Agreement. In the event an Employer fails at any time to secure, maintain, renew, or otherwise keep in full force and effect a fringe benefit bond in accordance with this Section, a written notice shall be provided stating that the Employer is in violation of this Agreement and demanding that the Employer obtain and produce satisfactory evidence documenting the existence of a suitable bond within forty-eight
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FRINGE BENEFIT BOND. 20.1 Any Employer that becomes delinquent in payment of the employee benefit contributions listed under this Collective Bargaining Agreement must post a fringe benefit bond (“Bond’) in the greater amount of twenty-five-thousand- dollar ($25,000), or the sum of the contribution amount of the highest three (3) months out of the twelve months preceding the month they first went delinquent, with the Trust Funds’ Third-Party Administrator. The Bond shall be expressly payable to the Trust Funds and shall remain in full force and effect for the life of the Agreement and any extension, renewals or replacements thereof. 20.2 In the event an Employer fails at any time to secure, maintain, renew or otherwise keep the Bond in full force and effect, in accordance with this Article, a written notice (“Bond Notice”) shall be provided stating that the Employer is in violation of this Agreement and demanding that the Employer obtain and produce satisfactory evidence documenting the existence of a suitable Bond within five
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FRINGE BENEFIT BOND. Employers shall be required to post a fringe benefit bond with the Administrative Agent of the Puget Sound Electrical Workers Trust Funds to insure the timely payment of delinquent contributions, liquidated damages, cost of suit, attorney fees payable to all fringe benefit funds, to which Employers are required to contribute by the terms of this Agreement, in accordance with the chart below. 1 to 10 workers $10,000 bond 11 to 25 workers $20,000 bond 26 to 50 workers $50,000 bond 51 or more workers $100,000 bond
Sample 1
FRINGE BENEFIT BOND. Employers shall be required to post a fringe benefit bond with the Administrative Agent of the Puget Sound Electrical Workers Trust Funds to insure the timely payment of delinquent contributions, liquidated damages, cost of suit, attorney fees payable to all fringe benefit funds, to which Employers are required to contribute by the terms of this Agreement, in accordance with the chart below. 1 to 10 workers $10,000 bond $20,000 bond 11-25 workers $20,000 bond $40,000 bond 26-50 workers $50,000 bond $75,000 bond 51 or more workers $100,00 bond $150,000 bond The Parties agree to establish one bond, as specified above, to cover employees working under all construction agreements through a Letter of Understanding. Contractor bond levels will be reviewed on a quarterly basis by the Trust Funds’ Third-Party Administrator. An Employers’ total number of bargaining unit employees will dictate the appropriate bond level as specified above.
Sample 1
FRINGE BENEFIT BOND. (a) Employers shall be required to post a fringe benefit bond with the Administrative Agent of the Puget Sound Electrical Workers Trust Funds to insure the timely payment of delinquent contributions, liquidated damages, cost of suit, attorney fees payable to all fringe benefit funds, to which Employers are required to contribute by the terms of this Agreement, in accordance with the chart below.
Sample 1
FRINGE BENEFIT BOND. (a) Employers shall be required to post a fringe benefit bond with the Administrative Agent of the Puget Sound Electrical Workers Trust Funds to insure the timely payment of delinquent contributions, liquidated damages, cost of suit, attorney fees payable to all fringe benefit funds, to which Employers are required to contribute by the terms of this Agreement, in accordance with the chart below. (b) The Union shall have the responsibility of monitoring the number of workers of an Employer to insure compliance with this provision. (c) In the event an Employer fails at any time to secure, maintain, renew or otherwise keep in full force and effect a fringe benefit bond in accordance with the provisions of section 4.02 (a) the Union and NECA shall immediately provide the Employer with a written notice in accordance with Section 4.08.
Sample 1
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FRINGE BENEFIT BOND. (a) Employers shall be required to post a fringe benefit bond with the Administrative Agent of the Puget Sound Electrical Workers Trust Funds to insure the timely payment of delinquent contributions, liquidated damages, cost of suit, attorney fees payable to all fringe benefit funds, to which Employers are required to contribute by the terms of this Agreement, in accordance with the chart below. Effective 1/1/2022 1 to 10 workers $10,000 bond $20,000 bond 11 to 25 workers $20,000 bond $40,000 bond 26 to 50 workers $50,000 bond $75,000 bond 51 or more workers $100,000 bond $150,000 bond The Parties agree to establish one bond, as specified above, to cover employees working under all construction agreements through a Letter of Understanding. Contractor bond levels will be reviewed on a quarterly basis by the Trust Funds’ Third Party Administrator. An Employer’s total number of bargaining unit employees will dictate the appropriate bond level as specified above. (b) The Union shall have the responsibility of monitoring the number of workers of an Employer to insure compliance with this provision. (c) In the event an Employer fails at any time to secure, maintain, renew or otherwise keep in full force and effect a fringe benefit bond in accordance with the provisions of section 4.02 (a) the Union and NECA shall immediately provide the Employer with a written notice in accordance with Section 4.08.
Sample 1
FRINGE BENEFIT BOND. Any employer not signatory to the Inside Construction Agreement shall be required to post a $20,000.00 Fringe Benefit Bond. This Bond would be required to meet the same terms and conditions as stated in Article IV of the Inside Construction Agreement.
Sample 1

Related to FRINGE BENEFIT BOND

  • Fringe Benefit The benefits provided by this Agreement are granted by the Employer as a fringe benefit to the Executive and are not a part of any salary reduction plan or any arrangement deferring a bonus or a salary increase. The Executive has no option to take any current payments or bonus in lieu of the benefits provided by this Agreement.

  • Fringe Benefits During the Employment Period, the Executive shall be entitled to fringe benefits, including, without limitation, tax and financial planning services, payment of club dues, and, if applicable, use of an automobile and payment of related expenses, in accordance with the most favorable plans, practices, programs and policies of the Company and its affiliated companies in effect for the Executive at any time during the 120-day period immediately preceding the Effective Date or, if more favorable to the Executive, as in effect generally at any time thereafter with respect to other peer executives of the Company and its affiliated companies.

  • Retirement, Welfare and Fringe Benefits During the Period of Employment, the Executive shall be entitled to participate in all employee pension and welfare benefit plans and programs, and fringe benefit plans and programs, made available by the Company to the Company’s employees generally, in accordance with the eligibility and participation provisions of such plans and as such plans or programs may be in effect from time to time.

  • Compensation/Benefit Programs During the Term of Employment, the Executive shall be entitled to participate in all medical, dental, hospitalization, accidental death and dismemberment, disability, travel and life insurance plans, and any and all other plans as are presently and hereinafter offered by the Company to its executive personnel, including savings, pension, profit-sharing and deferred compensation plans, subject to the general eligibility and participation provisions set forth in such plans.

  • Sick Leave Benefit Plan The Sick Leave Benefit Plan will provide sick leave days and short term disability days for reasons of personal illness, personal injury, including personal medical appointments and personal dental appointments.

  • Employees; Benefit Plans (a) During the period commencing at the Effective Time and ending on the date which is FIVE (“5”) months from the Effective Time (or if earlier, the date of the employee's termination of employment with Parent and its Subsidiaries), Parent shall cause the Surviving Corporation and each of its Subsidiaries, as applicable, to provide the employees of the Company and its Subsidiaries who remain employed immediately after the Effective Time (collectively, the "Company Continuing Employees") with base salary, target bonus opportunities (excluding equity-based compensation), and employee benefits that are, in the aggregate, no less favorable than the base salary, target bonus opportunities (excluding equity-based compensation), and employee benefits provided by the Company and its Subsidiaries on the date of this Agreement. (b) With respect to any "employee benefit plan" as defined in Section 3(3) of ERISA maintained by Parent or any of its Subsidiaries, excluding both any retiree healthcare plans or programs maintained by Parent or any of its Subsidiaries and any equity compensation arrangements maintained by Parent or any of its Subsidiaries (collectively, "Parent Benefit Plans") in which any Company Continuing Employees will participate effective as of the Effective Time, Parent shall, or shall cause the Surviving Corporation to, recognize all service of the Company Continuing Employees with the Company or any of its Subsidiaries, as the case may be as if such service were with Parent, for vesting and eligibility purposes (but not for (i) purposes of early retirement subsidies under any Parent Benefit Plan that is a defined benefit pension plan or (ii) benefit accrual purposes, except for vacation, if applicable) in any Parent Benefit Plan in which such Company Continuing Employees may be eligible to participate after the Effective Time; (iii) Continuing Company shall honor all consulting or advisory agreement previously entered into, or employment pending equity awards stock options or warrants to purchase equity based upon performance. provided, that such service shall not be recognized to the extent that (A) such recognition would result in a duplication of benefits or (B) such service was not recognized under the corresponding Company Employee Plan. (c) This Section 5.07 shall be binding upon and inure solely to the benefit of each of the parties to this Agreement, and nothing in this Section 5.07, express or implied, shall confer upon any other Person any rights or remedies of any nature whatsoever under or by reason of this Section 5.07. Nothing contained herein, express or implied (i) shall be construed to establish, amend or modify any benefit plan, program, agreement or arrangement or (ii) shall alter or limit the ability of the Surviving Corporation, Parent or any of their respective Affiliates to amend, modify or terminate any benefit plan, program, agreement or arrangement at any time assumed, established, sponsored or maintained by any of them. The parties hereto acknowledge and agree that the terms set forth in this Section 5.07 shall not create any right in any Company Employee or any other Person to any continued employment with the Surviving Corporation, Parent or any of their respective Subsidiaries or compensation or benefits of any nature or kind whatsoever. (d) With respect to matters described in this Section 5.07, the Company will not send any written notices or other written communication materials to Company Employees without the prior written consent of Parent.

  • Salary and Fringe Benefits The employee shall be paid a salary which is the pro- rata share of the salary which the employee would have earned had he or she not elected to exercise the option of reduced workload. The employee shall retain all other rights and benefits enjoyed by full-time members of the unit.

  • Welfare, Pension and Incentive Benefit Plans During the Employment Period, Executive (and his eligible spouse and dependents) shall be entitled to participate in all the welfare benefit plans and programs maintained by the Company from time-to-time for the benefit of its senior executives including, without limitation, all medical, hospitalization, dental, disability, accidental death and dismemberment and travel accident insurance plans and programs. In addition, during the Employment Period, Executive shall be eligible to participate in all pension, retirement, savings and other employee benefit plans and programs maintained from time-to-time by the Company for the benefit of its senior executives, other than any annual cash incentive plan.

  • Executive Benefit Plans The Executive shall be entitled to participate in all plans or programs sponsored by the Company for employees in general, including without limitation, participation in any group health, medical reimbursement, or life insurance plans.

  • Benefit Coverage The Company agrees to provide pension and welfare benefits as described in the Company Booklets, benefit plan documents or policies of insurance for the duration of the Agreement.

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