Common use of SAVINGS THROUGH LEGISLATION Clause in Contracts

SAVINGS THROUGH LEGISLATION. If the premium paid by the Employer for any Employee benefit is reduced as a result of any legislative or other action, the amount of the saving will be used to increase other benefits available to the Employees, as may be mutually agreed upon between the parties, or will be passed on to the employees in the form of increased wage or salary rates.

SAVINGS THROUGH LEGISLATION. If the premium paid by the Employer for any Employee benefit is reduced as a result of any legislative or other action, the amount of the saving will be used to increase other benefits available to the Employees, as may be mutually agreed upon between the parties, or will be passed on to the employees Employees in the form of increased wage or salary rates.