Common use of Buy-Down Clause in Contracts

Buy-Down. At the Employer’s discretion, employees may be offered a lump sum payment through a buy-down program which will be designed to transition employees from the economic terms of Safeway collective agreement to the converted store’s collective agreement. Should an employee select this option, they will be subject to all terms and conditions under the converted store’s collective agreement. The Union will be notified of all aspects of these offers.

Appears in 4 contracts

Samples: Collective Agreement, Collective Agreement, Collective Agreement

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