Common use of Reopening of Fringe Benefit Provisions - Conditions Clause in Contracts

Reopening of Fringe Benefit Provisions - Conditions. For the purposes of this Section, fringe benefits shall be defined as any compensation other than direct wages that are received by an employee under the terms of this Agreement which are financed either wholly or in part by the employer, or by means of a salary reduction agreement between the employer and the individual employee. If a change in applicable Federal or State statute(s) causes a previously untaxed fringe benefit to become a portion of an employee’s taxable compensation, then the parties agree to reopen the Agreement for negotiations; the Agreement shall be reopened for negotiation only to the extent necessary to deal with the specific fringe benefit(s) which have heretofore been untaxed but which have become taxable.

Reopening of Fringe Benefit Provisions - Conditions. For the purposes of this Section, fringe benefits shall be defined as any compensation other than direct wages that are received by an employee under the terms of this Agreement which are financed either wholly or in part by the employer, or by means of a salary reduction agreement between the employer and the individual employee. If a change in applicable Federal federal or State state statute(s) causes a previously untaxed fringe benefit to become a portion of an employee’s taxable compensation, then the parties agree to reopen the Agreement agreement for negotiations; negotiations; the Agreement agreement shall be reopened for negotiation only to the extent necessary to deal with the specific fringe benefit(s) which have heretofore been untaxed but which have become taxable.