Common use of Premium Reduction Clause in Contracts

Premium Reduction. If the premium paid by the Employer for any employee benefit is reduced as a result of legislative or other action, the amount of the saving shall be used to increase other benefits available to the Employees.

Premium Reduction. ‌ If the premium paid by the Employer at the effective date of this Agreement for any employee benefit is reduced as a result of legislative or other action, the amount fifty per cent (50%) of the saving shall be used to increase other benefits available to the Employeesemployees.

Premium Reduction. If the premium paid by the Employer at the effective date of this Agreement for any employee benefit is reduced as a result of legislative or other action, the amount fifty per cent (50%) of the saving shall be used to increase other benefits available to the Employeesemployees.