Common use of Residual Benefits Clause in Contracts

Residual Benefits. Except for employees electing Preferential Placement pursuant to Section 3 (e)(1)(iii) above, if an employee who elected Preferential Placement is not placed or re-employed by the Company within one year from that individual’s designated date of, as applicable, (i) termination for plant closing or (ii) layoff, that individual will, as appropriate, be deemed either: to have been terminated as of that individual’s respective date of termination for plant closing and paid the Severance Pay the individual would have received under Section 2 (b)(6) if the Preferential Placement status had not been elected, less any IEA-type benefits paid under paragraph 4 of this Section 3 (e), or break service and be paid any remaining IEA under Section 4 (a)(1), less any IEA benefits paid under paragraph 4 of this Section 3 (e). If placed or re-employed from Preferential Placement status, weekly IEA-type or weekly IEA layoff benefits need not be repaid in order to restore eligibility for future layoff benefits based on prior service.

Residual Benefits. Except for employees electing Preferential Placement pursuant to Section 3 (e)(1)(iii3(d)(1)(iii) above, if an employee who elected Preferential Placement is not placed or re-re- employed by the Company within one year from that individual’s 's designated date of, as applicable, (i) termination for plant closing or (ii) layoff, that individual will, as appropriate, be deemed either: to have been terminated as of that individual’s 's respective date of termination for plant closing and paid the Severance Pay the individual would have received under Section 2 (b)(62(b)(6) if the Preferential Placement status had not been elected, less any IEA-type benefits paid under paragraph 4 of this Section 3 (e3(d), or break service and be paid any remaining IEA under Section 4 (a)(14(a)(1), less any IEA benefits paid under paragraph 4 of this Section 3 (e3(d). If placed or re-re- employed from Preferential Placement status, weekly IEA-type or weekly IEA layoff benefits need not be repaid in order to restore eligibility for future layoff benefits based on prior service.

Residual Benefits. Except for employees electing Preferential Placement pursuant to Section 3 (e)(1)(iiid)(1)(iii) above, if an employee who elected Preferential Placement is not placed or re-re- employed by the Company within one year from that individual’s 's designated date of, as applicable, (i) termination for plant closing or (ii) layoff, that individual will, as appropriate, be deemed either: to have been terminated as of that individual’s 's respective date of termination for plant closing and paid the Severance Pay the individual would have received under Section 2 (b)(62(b)(6) if the Preferential Placement status had not been elected, less any IEA-type benefits paid under paragraph 4 of this Section 3 (e3(d), or break service and be paid any remaining IEA under Section 4 (a)(14(a)(1), less any IEA benefits paid under paragraph 4 of this Section 3 (e3(d). If placed or re-employed from Preferential Placement status, weekly IEA-type or weekly IEA layoff benefits need not be repaid in order to restore eligibility for future layoff benefits based on prior service.

Residual Benefits. Except for employees electing Preferential Placement pursuant to Section 3 (e)(1)(iii3(e)(1)(iii) above, if an employee who elected Preferential Placement is not placed or re-employed by the Company within one year from that individual’s designated date of, as applicable, (i) termination for plant closing or (ii) layoff, that individual will, as appropriate, be deemed either: to have been terminated as of that individual’s respective date of termination for plant closing and paid the Severance Pay the individual would have received under Section 2 (b)(6) if the Preferential Placement status had not been elected, less any IEA-type benefits paid under paragraph 4 of this Section 3 (e), or break service and be paid any remaining IEA under Section 4 (a)(1), less any IEA benefits paid under paragraph 4 of this Section 3 (e). If placed or re-employed from Preferential Placement status, weekly IEA-type or weekly IEA layoff benefits need not be repaid in order to restore eligibility for future layoff benefits based on prior service.