Common use of Authorizations for Payroll Deductions Clause in Contracts

Authorizations for Payroll Deductions. Unless otherwise prohibited by this or another agreement entered into in connection with the Distribution, or by a Plan document, with respect to all Stac Employees to be transferred to Hi/fn on the Distribution Date who have authorizations for payroll deductions in effect with Stac on the Distribution Date, Hi/fn as the successor employer will honor such payroll deduction authorizations relating to each Hi/fn Employee, and shall not require that such Hi/fn Employee submit a new authorization to the extent that the type of deduction by Hi/fn does not differ in amount or form from that made by Stac. Such deduction types include, without limitation, contributions to any Plan; scheduled loan repayments to the relevant Profit Sharing Plan or to an employee credit union; and direct deposit of payroll, bonus advances, union dues, employee relocation loans, and other types of authorized company receivables usually collectible through payroll deductions.