Common use of Supplemental Income Protection Plan Clause in Contracts

Supplemental Income Protection Plan. A. If during the term of this Agreement, the Company determines that there is a need to adjust the workforce, after written notice is provided to the Union, the Company may at its sole discretion elect to offer employees the opportunity, in the order of seniority, to voluntarily leave the service of the Company and receive Supplemental Income Protection benefits as described below subject to the following conditions: 1. The Company may offer SIPP to all employees in the bargaining unit or only to employees in certain job titles and work areas. The company will determine the period during which the employee may, if he/she so elects, leave the service of the Company pursuant to this Article. Neither such determinations by the Company nor any other part of this Section 4 shall be subject to arbitration. 2. An employee's election to leave the service of the Company and receive Supplemental Income Protection benefits must be in writing and transmitted to the Company within fourteen (14) calendar) days from the date the Company makes notification of any such change or surplus in order to be effective and such election may only be revoked within such fourteen (14) calendar day period. After the fourteen (14) day period has expired, the Company will determine the number of employees that can be granted the offer, as well as their job titles and locations. The Company will confer with the Union regarding this determination, however, the Company will make the final determination and will communicate this decision in writing to the Union and affected employees. 3. Employees who elect to receive benefits under the provisions of this section shall not be entitled to other severance pay benefits or other benefits which may be provided to laid-off employees but shall be entitled to receive those benefits applicable to retirees, if the employee elects to retire. No employee shall be required to retire in order to receive Supplemental Income Protection Plan payments. 4. If an employee voluntarily accepts SIPP and is out or should go out on Short Term Disability, the Short Term Disability would end on the scheduled last day worked for SIPP designation regardless of the anticipated release date by the physician. B. Supplemental Income Protection payments for employees who so elect to leave the service of the Company in accordance with this section begin within one month after such employee has left the service of the Company. C. For employees who so elect in accordance with this section, the amount of Supplemental Income Protection benefits payable shall be $26,400.00. Employees may elect to receive the total benefits, once calculated as above, in either a lump sum, or in 12 month, or 24 month, or 36 month, or 48 month equal payments. D. Payments hereunder shall cease upon the employment of a recipient by the Company or any affiliated or subsidiary companies. Employees who elect a lump sum payment, and who are employed as noted above before a period of 12 months from the date of original separation, will be required to return to the Company a prorated portion of the original lump sum payment through a payment plan agreeable to both the Company and the employee. Full payment, however, must be made in six months or less. E. In the event of the death of a recipient of Supplemental Income Protection payments before all of the monthly payments to which he/she is entitled have been made, the remaining amount shall be paid to the individual’s estate. F. If the workforce adjustment is not satisfied by the SIPP offering, the Company may make additional workforce adjustments as provided under other provisions of this Agreement.

Supplemental Income Protection Plan. A. If during the term of this Agreement, the Company determines notifies the Union in writing that there technological change (defined as changes in equipment or methods of operation) has or will create a surplus in any job title in any work area which will necessitate layoffs or involuntary permanent reassignments of regular full-time employees to different job titles involving a reduction in pay or to locations requiring a change of residence, or if a force surplus necessitating any of the above actions exists for reasons other than technological change and the Company deems it appropriate and in the exercise of its sole discretion, employees in the affected job titles and work area who have at least ten (10) years of continuous service (as defined in the Sprint Retirement Pension Plan) and whose age is a need to adjust at least 55 years as of the workforce, after written date of the Company's notice is provided to the Union, the Company may at its sole discretion elect to offer employees the opportunityelect, in the order of seniority, and to voluntarily the extent necessary to relieve the surplus, to leave the service of the Company and receive Supplemental Income Protection benefits as described below in paragraph B. of this article subject to the following conditions: 1. The Company may offer SIPP to all employees in shall determine the bargaining unit or only to employees in certain job titles and work areas. The company will determine area in which a surplus exists, the number of employees in such titles and areas who are considered to be surplus, and the period during which the employee may, if he/he or she so elects, leave the service of the Company pursuant to this Articlearticle. Neither such determinations by the Company nor any other part of this the Section 4 4. shall be subject to arbitration. 2. The number of employees who may make such election shall not exceed the number of employees determined by the Company to be surplus. 3. An employee's election to leave the service of the Company and receive Supplemental Income Protection benefits must be in writing and transmitted to the Company within fourteen thirty (14) calendar30) days from the date the Company makes notification of any such change or surplus in order to be effective and such election may only be revoked within such fourteen thirty (1430) calendar day period. After the fourteen (14) day period has expired, the Company will determine the number of employees that can be granted the offer, as well as their job titles and locations. The Company will confer with the Union regarding this determination, however, the Company will make the final determination and will communicate this decision in writing to the Union and affected employees. 34. Employees who elect to receive benefits under the provisions of this section article shall not be entitled to other severance pay benefits or other benefits which may be provided to laid-off employees but shall be entitled to receive those these benefits applicable to retirees, if the employee elects to retire. No employee shall be required to retire in order to receive Supplemental Income Protection Plan payments. 4. If an employee voluntarily accepts SIPP and is out or should go out on Short Term Disability, the Short Term Disability would end on the scheduled last day worked for SIPP designation regardless of the anticipated release date by the physician. B. Supplemental Income Protection payments for employees who so elect to leave the service of the Company in accordance with this section paragraph A. shall begin within one month after such employee has left the service of the CompanyCompany to continue until: 1. forty-eight (48) payments have been made; 2. the end of the month in which the recipient’s 62nd birthday occurs; or 3. the recipient first becomes eligible for reduced Social Security retirement benefits, whichever of the three is earliest. C. For employees who so elect in accordance with this sectionparagraph A., the Company will pay monthly as Supplemental Income Protection payments, $8.50 for each year of continuous service plus 45% of the employee's final basic weekly or equivalent wage rate but, in no case to exceed in aggregate a total of $462.50 per month. The maximum amount of Supplemental Income Protection benefits payable shall be in no event exceed a total of $26,400.00. Employees may elect to receive 22,200. D. In no event shall the total benefitsof the Supplemental Income Protection payments exceed the equivalent of twice the employee's annual compensation at the basic wage rate (or its equivalent) received during the year immediately preceding the termination of service. E. As used in this article, once calculated as above"annual compensation at the basic weekly rate (or its equivalent)" or "basic weekly wage rate (or its equivalent)" do not include tour or temporary differentials, in either a lump sumovertime pay, or in 12 month, or 24 month, or 36 month, or 48 month equal other extra payments. D. F. Payments hereunder shall cease upon the employment of a recipient by the Company or any affiliated or subsidiary companies. Employees who elect a lump sum paymentcompanies of United Telecommunications, and who are employed as noted above before a period of 12 months from the date of original separation, will be required to return to the Company a prorated portion of the original lump sum payment through a payment plan agreeable to both the Company and the employee. Full payment, however, must be made in six months or less.Inc. E. G. In the event of the death of a recipient of Supplemental Income Protection payments before all of the monthly payments to which he/she is entitled have been made, the remaining amount shall be paid to the individual’s estate. F. If H. When the workforce adjustment surplus is not satisfied relieved by a sufficient number of employees accepting the SIPP offeringCompany's offer under provisions of this article, the Company may make additional workforce adjustments lay off employees as provided under other provisions of this Agreement. I. The provisions of the Plan shall govern in all matters pertaining to the Supplemental Income Protection Plan.

Supplemental Income Protection Plan. A. If during the term of this Agreement, the Company determines that there is a need to adjust the workforce, after written notice is provided to the Union, the Company may at its sole discretion elect to offer employees who have at least ten (10) years of continuous service and whose age is at least 55 years as of the date of the Company's notice to the Union, the opportunity, in the order of seniority, to voluntarily leave the service of the Company and receive Supplemental Income Protection benefits as described below subject to the following conditions: 1. The Company may offer SIPP to all employees in the bargaining unit or only to employees in certain job titles and work areas. The company will determine the period during which the employee may, if he/she so elects, leave the service of the Company pursuant to this Article. Neither such determinations by the Company nor any other part of this Section 4 shall be subject to arbitration. 2. An employee's election to leave the service of the Company and receive Supplemental Income Protection benefits must be in writing and transmitted to the Company within fourteen (14) calendar) days from the date the Company makes notification of any such change or surplus in order to be effective and such election may only be revoked within such fourteen (14) calendar day period. After the fourteen (14) day period has expired, the Company will determine the number of employees that can be granted the offer, as well as their job titles and locations. The Company will confer with the Union regarding this determination, however, the Company will make the final determination and will communicate this decision in writing to the Union and affected employees. 3. Employees who elect to receive benefits under the provisions of this section shall not be entitled to other severance pay benefits or other benefits which may be provided to laid-off employees but shall be entitled to receive those benefits applicable to retirees, if the employee elects to retire. No employee shall be required to retire in order to receive Supplemental Income Protection Plan payments. 4. If an employee voluntarily accepts SIPP and is out or should go out on Short Term Disability, the Short Term Disability would end on the scheduled last day worked for SIPP designation regardless of the anticipated release date by the physician. B. Supplemental Income Protection payments for employees who so elect to leave the service of the Company in accordance with this section begin within one month after such employee has left the service of the Company. C. For employees who so elect in accordance with this section, the Company will pay monthly as Supplemental Income Protection payments, $8.50 for each year of continuous service plus 45% of the employee's final basic weekly or equivalent wage rate but, in no case to exceed in aggregate a total of $550.00 per month. The maximum amount of Supplemental Income Protection benefits payable shall be in no event exceed a total of $26,400.00. Employees may elect to receive the total benefits, once calculated as above, in either a lump sum, or in 12 month, or 24 month, or 36 month, or 48 month equal payments. D. As used in this article, "annual compensation at the basic weekly rate (or its equivalent)" or "basic weekly wage rate (or its equivalent)" do not include tour or temporary differentials, overtime pay, or other extra payments. E. Payments hereunder shall cease upon the employment of a recipient by the Company or any affiliated or subsidiary companies. Employees who elect a lump sum payment, and who are employed as noted above before a period of 12 months from the date of original separation, will be required to return to the Company a prorated portion of the original lump sum payment through a payment plan agreeable to both the Company and the employee. Full payment, however, must be made in six months or less. E. F. In the event of the death of a recipient of Supplemental Income Protection payments before all of the monthly payments to which he/she is entitled have been made, the remaining amount shall be paid to the individual’s estate. F. G. If the workforce adjustment is not satisfied by the SIPP offering, the Company may make additional workforce adjustments as provided under other provisions of this Agreement.

Supplemental Income Protection Plan. A. If during the term of this Agreement, the Company determines that there is a need to adjust the workforce, after written notice is provided to the Union, the Company may at its sole discretion elect to offer employees the opportunity, in the order of seniority, R to voluntarily leave the service of the Company and receive Supplemental Income Protection benefits as described below subject to the following conditions: 1. The Company may offer SIPP to all employees in the bargaining unit or only to employees in certain job titles and work areas. The company will determine the period during which the employee may, if he/she so elects, leave the service of the Company pursuant to this Article. Neither such determinations by the Company nor any other part of this Section 4 shall be subject to arbitration. 2. An employee's election to leave the service of the Company and receive Supplemental Income Protection benefits must be in writing and transmitted to the Company within fourteen (14) calendar) days from the date the Company makes notification of any such change or surplus in order to be effective and such election may only be revoked within such fourteen (14) calendar day period. After the fourteen (14) day period has expired, the Company will determine the number of employees that can be granted the offer, as well as their job titles and locations. The Company will confer with the Union regarding this determination, however, the Company will make the final determination and will communicate this decision in writing to the Union and affected employees. 3. Employees who elect to receive benefits under the provisions of this section shall not be entitled to other severance pay benefits or other benefits which may be provided to laid-off employees but shall be entitled to receive those benefits applicable to retirees, if the employee elects to retire. No employee shall be required to retire in order to receive Supplemental Income Protection Plan payments. 4. If an employee voluntarily accepts SIPP and is out or should go out on Short Term Disability, the Short Term Disability would end on the scheduled last day worked for SIPP designation regardless of the anticipated release date by the physician. B. Supplemental Income Protection payments for employees who so elect to leave the service of the Company in accordance with this section begin within one month after such employee has left the service of the Company. C. For employees who so elect in accordance with this section, the amount of Supplemental Income Protection benefits payable R shall be $26,400.00. Employees may elect to receive the total benefits, once calculated as above, in either a lump sum, or in 12 month, or 24 month, or 36 month, or 48 month equal payments. D. Payments hereunder shall cease upon the employment of a recipient by the Company or any affiliated or subsidiary companies. Employees who elect a lump sum payment, and who are employed as noted above before a period of 12 months from the date of original separation, will be required to return to the Company a prorated portion of the original lump sum payment through a payment plan agreeable to both the Company and the employee. Full payment, however, must be made in six months or less. E. In the event of the death of a recipient of Supplemental Income Protection payments before all of the monthly payments to which he/she is entitled have been made, the remaining amount shall be paid to the individual’s estate. F. If the workforce adjustment is not satisfied by the SIPP offering, the Company may make additional workforce adjustments as provided under other provisions of this Agreement.