SUSPENSION OF LONG-TERM SAVINGS AGREEMENTS Sample Clauses

SUSPENSION OF LONG-TERM SAVINGS AGREEMENTS. (a) A Participant may voluntarily suspend a Long-Term Savings Agreement for an indefinite period of time; provided, however, that no period of suspension shall be shorter in duration than one month. Such suspension shall be effective as of the beginning of the Participant's Wage Payment Period designated by him if a notice of suspension, on such forms as shall be required by the Committee, is received by the Committee within a reasonable time, as prescribed by the Committee, prior to the beginning of such Period. If such notice is not received by the Committee within such reasonable time prior to the beginning of such Period, such suspension shall be effective as of the beginning of the Participant's next succeeding Wage Payment Period. A Participant will not be permitted to make up amounts subject to a Long-Term Savings Agreement for any period of suspension. A Participant who makes an election to suspend a Long-Term Savings Agreement pursuant to this Section 3.3 may reinstate such Agreement effective as of his first Wage Payment Period of any month following the period of suspension if such Participant again executes and files with the Committee a Long-Term Savings Agreement, and any other forms required by the Committee, within a reasonable time, as prescribed by the Committee, prior to the beginning of such Wage Payment Period. (b) The Committee, at its election, may amend, suspend or revoke a Long-Term Savings Agreement with a Participant at any time if the Committee determines that such amendment or revocation is necessary to ensure that the Annual Additions to the Accounts of a Participant do not exceed the Maximum Permissible Amount for such Participant for that Year or to ensure that the requirements of Section 3.5 are met for such Year.
Sample 1
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Related to SUSPENSION OF LONG-TERM SAVINGS AGREEMENTS

  • Notice to Union of Long Term Layoff In the event of a pending layoff of a permanent or long-term nature, the Home will: (a) Provide the Union with ninety (90) days’ notice; (b) Meet with the Union to review the following: i) The reasons causing the layoff; ii) The service which the Home will undertake after the layoff; iii) The method of implementation, including areas of cutback and the employees to be laid off. It is understood that permanent or long-term nature means a layoff which will be longer than eight (8) weeks.

  • Employees on Long Term Supply Assignments Employees completing long term supply assignments may only access sick leave and short term disability leave in the fiscal year in which the allocation was provided. Any remaining allocation may be used in subsequent long term supply assignments, provided these occur within the same fiscal year. Employees employed in a Long Term Supply Assignment which is less than the ordinary period of employment for the position shall have their sick leave and short term disability allocations pro-rated accordingly. Where the length of the long term supply assignment is not known in advance, a projected length must be determined at the start of the assignment in order for the appropriate allocation of sick leave/short term disability leave to occur. If a change is made to the length of the assignment, an adjustment will be made to the allocation and applied retroactively.

  • SAVINGS PROVISIONS If any provisions of this Agreement are held to be contrary to law by a court of competent jurisdiction, such provisions will not be deemed valid and subsisting except to the extent permitted by law, but all other provisions will continue in full force and effect.

  • Supplements and Amendments; Whole Agreement This Warrant may be amended or supplemented only by an instrument in writing signed by the parties hereto. This Warrant contains the full understanding of the parties hereto with respect to the subject matter hereof and thereof and there are no representations, warranties, agreements or understandings other than expressly contained herein and therein.

  • Benefits of the Administration Agreement Nothing in this Agreement, expressed or implied, shall give to any Person other than the parties hereto and their successors hereunder, the Owner Trustee, any separate trustee or co-trustee appointed under Section 6.10 of the Indenture and the Noteholders, any benefit or any legal or equitable right, remedy or claim under this Agreement. For the avoidance of doubt, the Owner Trustee is a third party beneficiary of this Agreement and is entitled to the rights and benefits hereunder and may enforce the provisions hereof as if it were a party hereto.

  • Compensation; Employment Agreements; Etc Enter into or amend or renew any employment, consulting, severance or similar agreements or arrangements with any director, officer or employee of Metropolitan or its Subsidiaries, or grant any salary or wage increase or increase any employee benefit (including incentive or bonus payments), except (i) for normal individual increases in compensation to employees in the ordinary course of business consistent with past practice, (ii) for other changes that are required by applicable law, and (iii) to satisfy Previously Disclosed contractual obligations existing as of the date hereof.

  • SAVINGS PROVISION If any provisions of this Agreement are held to be contrary to law by a court of competent jurisdiction, such provisions will not be deemed valid and subsisting except to the extent permitted by law, but all other provisions will continue in full force and effect.

  • Long Term Care The City may offer an option for employees to purchase a new long-term care benefit for themselves and certain family members.

  • Compensation Program Amendments Each of the Company’s compensation, bonus, incentive and other benefit plans, arrangements and agreements (including golden parachute, severance and employment agreements) (collectively, “Benefit Plans”) with respect to you is hereby amended to the extent necessary to give effect to provisions (1) and (2). For reference, certain affected Benefit Plans are set forth in Appendix A to this letter. In addition, the Company is required to review its Benefit Plans to ensure that they do not encourage senior executive officers to take unnecessary and excessive risks that threaten the value of the Company. To the extent any such review requires revisions to any Benefit Plan with respect to you, you and the Company agree to negotiate such changes promptly and in good faith.

  • Injury Pay Provisions An employee who is injured on the job during working hours and is required to leave for treatment or is sent home for such injury, shall receive payment for the remainder of his/her shift, without deduction from sick leave.

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