Common use of CONTRACTUAL ISSUES Clause in Contracts

CONTRACTUAL ISSUES. This Plan temporarily replaces or supersedes any retirement benefits provided by the Board as outlined in the existing or successor Master Agreement between the Board and the Association. Specifically, this agreement suspends the effectiveness and operation of Section 4.1 paragraph E (payment for unused sick leave allowance) of the 2003-2007 Master Agreement or its successor Agreement for those bargaining unit members who participate in this Plan. Under no circumstance shall any teacher be entitled to receive both the benefits paid in the ERI plan and severance benefits specified above. BENZIE COUNTY CENTRAL SCHOOLS BENZIE COUNTY CENTRAL EDUCATION ASSOCIATION, MEA/NMEA/NEA BOARD OF EDUCATION By: By: By: By: EARLY RETIREMENT INCENTIVE PLAN APPLICATION/RETIREMENT FORM I, the undersigned employee, hereby apply to participate in the Early Retirement Incentive Plan (hereinafter, "Plan") and request to receive the benefit thereof. I do hereby: 1. Represent that I have examined and read the Early Retirement Incentive Plan Document and that I understand and knowingly accept its conditions and terms. 2. If accepted for participation in the Plan, I will submit my written resignation for the purposes of retirement with a separation date of the final teacher obligation day of June 30, 2006. I further understand that the date of separation is subject to approval by the Board. 3. Agree to execute the Plan Agreement and Waiver/Release of Claims attached hereto and incorporated herein (Attachment B). I hereby acknowledge and state that I have carefully read and fully understand the terms and conditions of the Plan, including Attachments A and B, and I do hereby request to participate therein and receive the benefit thereof. In consideration and exchange for my participation, I will tender my voluntary, unconditional and irrevocable resignation from employment with the Benzie County Central Schools according to terms and conditions of the Plan provided that the Board as a participant accepts me. My resignation will be furnished to the Board at the time of approval of my application to participate in the Plan and shall become effective on June 30, 2006 which shall be specified in my resignation provided that MPSERS has acknowledged receipt of and acceptance of the lump sum pre-tax payment by the Board on my behalf. Furthermore, I understand that I have the option to rescind my resignation should MPSERS not accept the lump sum pre-tax payment by the Board on my behalf. I hereby acknowledge and state I am making this election as an exercise of my own free will and understand that if I were to reject the offer to participate in the Plan, that such rejection would have absolutely no impact or consequences on my current or future employment or status with Benzie County Central Schools. Dated: Employee Signature: Dated: Accepted By: Agreed upon effective date of resignation if eligible employee is accepted for Plan participation: June 30, 2006. Dated: Employee Signature: Dated: Witnessed by: STATE OF MICHIGAN) ) Ss COUNTY OF ) On this day of , 2006, before me personally appeared who being duly sworn says, he/she is person(s) described herein and who executed the foregoing instrument for the purpose therein stated and acknowledged the same as his/her free act and deed. Notary Public My Commission Expires: EARLY RETIREMENT INCENTIVE PLAN AGREEMENT AND WAIVER/RELEASE OF CLAIMS This Early Retirement Incentive Plan (hereinafter, "Plan") Agreement and Waiver/Release of Claims is entered into this day of , , by, between, and among (hereinafter, "Employee"), the Benzie County Central Schools Board of Education (hereinafter, "Board"), and the Benzie County Central Education Association, MEA/NMEA/NEA (hereinafter, "Association") in consideration of the mutual covenants and undertakings as recited below: 1. Employee acknowledges and agrees that he/she has voluntarily elected to participate in the Early Retirement Incentive Plan (the "Plan") and accepts the benefits and conditions of the Plan as described in the applicable Plan document executed between the Board and Association. Further, Employee acknowledges and agrees that he/she has submitted his/her resignation from employment with the Benzie County Central Schools for the purpose of retirement, according to the terms and conditions of the Plan, voluntarily and that such resignation is irrevocable when accepted by the Board subject to paragraph 3 of this document. Further, Employee acknowledges and understands that he/she could have rejected the offer to participate in the Plan and that such rejection would have had absolutely no impact or consequences upon his/her current or future employment or status with the Benzie County Central Schools 2. The Board Acknowledges and agrees that it shall remit the Plan benefit on behalf of the Employee as a lump sum pre-tax pick-up contribution to the Michigan Public Schools Retirement System (MPSERS) according to the terms and conditions of the plan as described therein. Employee understands and acknowledges that he/she does not have the option to receive the amounts (or any portion thereof) directly contributed by the Board, on behalf of the employee, as a pick-up contribution to MPSERS unless IRS or MPSERS regulations prevent pre-tax contributions to MPSERS on behalf of the employee as described above. In this event the amount of the Plan benefit (less deductions required by law) will be distributed to each Plan participant or the Plan participant shall have the option to render his/her resignation as null and void. Each participant shall be solely responsible for his/her share of all applicable taxes. 3. Employee acknowledges and agrees that he/she has been provided at least forty-five (45) days within which to consider the terms of the Plan as well as this Agreement and Waiver/Release and employee’s decision to retire and participate in the Plan. If the employee signs and returns this Agreement and Waiver/Release of Claims (Attachment B) prior to the expiration of the forty-five

CONTRACTUAL ISSUES. This Plan temporarily replaces or supersedes any retirement benefits provided by the Board as outlined in the existing or successor Master Agreement between the Board and the Association. Specifically, this agreement suspends the effectiveness and operation of Section 4.1 paragraph E (payment for unused sick leave allowance) of the 2003-2007 Master Agreement or its successor Agreement for those bargaining unit members who participate in this Plan. Under no circumstance shall any teacher be entitled to receive both the benefits paid in the ERI plan and severance benefits specified above. BENZIE COUNTY CENTRAL SCHOOLS BENZIE COUNTY CENTRAL EDUCATION ASSOCIATION, MEA/NMEA/NEA BOARD OF EDUCATION By: By: By: By: EARLY RETIREMENT INCENTIVE PLAN APPLICATION/RETIREMENT FORM I, the undersigned employee, hereby apply to participate in the Early Retirement Incentive Plan (hereinafter, "Plan") and request to receive the benefit thereof. I do hereby: 1. Represent that I have examined and read the Early Retirement Incentive Plan Document and that I understand and knowingly accept its conditions and terms. 2. If accepted for participation in the Plan, I will submit my written resignation for the purposes of retirement with a separation date of the final teacher obligation day of June 30, 20062005. I further understand that the date of separation is subject to approval by the Board. 3. Agree to execute the Plan Agreement and Waiver/Release of Claims attached hereto and incorporated herein (Attachment B). I hereby acknowledge and state that I have carefully read and fully understand the terms and conditions of the Plan, including Attachments A and B, and I do hereby request to participate therein and receive the benefit thereof. In consideration and exchange for my participation, I will tender my voluntary, unconditional and irrevocable resignation from employment with the Benzie County Central Schools according to terms and conditions of the Plan provided that the Board as a participant accepts me. My resignation will be furnished to the Board at the time of approval of my application to participate in the Plan and shall become effective on June 30, 2006 2005 which shall be specified in my resignation provided that MPSERS has acknowledged receipt of and acceptance of the lump sum pre-tax payment by the Board on my behalf. Furthermore, I understand that I have the option to rescind my resignation should MPSERS not accept the lump sum pre-tax payment by the Board on my behalf. I hereby acknowledge and state I am making this election as an exercise of my own free will and understand that if I were to reject the offer to participate in the Plan, that such rejection would have absolutely no impact or consequences on my current or future employment or status with Benzie County Central Schools. Dated: Employee Signature: Dated: Accepted By: Agreed upon effective date of resignation if eligible employee is accepted for Plan participation: June 30, 20062005. Dated: Employee Signature: Dated: Witnessed by: STATE OF MICHIGAN) ) Ss COUNTY OF ) On this day of , 20062005, before me personally appeared who being duly sworn says, he/she is person(s) described herein and who executed the foregoing instrument for the purpose therein stated and acknowledged the same as his/her free act and deed. Notary Public My Commission Expires: EARLY RETIREMENT INCENTIVE PLAN AGREEMENT AND WAIVER/RELEASE OF CLAIMS This Early Retirement Incentive Plan (hereinafter, "Plan") Agreement and Waiver/Release of Claims is entered into this day of , , by, between, and among (hereinafter, "Employee"), the Benzie County Central Schools Board of Education (hereinafter, "Board"), and the Benzie County Central Education Association, MEA/NMEA/NEA (hereinafter, "Association") in consideration of the mutual covenants and undertakings as recited below: 1. Employee acknowledges and agrees that he/she has voluntarily elected to participate in the Early Retirement Incentive Plan (the "Plan") and accepts the benefits and conditions of the Plan as described in the applicable Plan document executed between the Board and Association. Further, Employee acknowledges and agrees that he/she has submitted his/her resignation from employment with the Benzie County Central Schools for the purpose of retirement, according to the terms and conditions of the Plan, voluntarily and that such resignation is irrevocable when accepted by the Board subject to paragraph 3 of this document. Further, Employee acknowledges and understands that he/she could have rejected the offer to participate in the Plan and that such rejection would have had absolutely no impact or consequences upon his/her current or future employment or status with the Benzie County Central Schools 2. The Board Acknowledges and agrees that it shall remit the Plan benefit on behalf of the Employee as a lump sum pre-tax pick-up contribution to the Michigan Public Schools Retirement System (MPSERS) according to the terms and conditions of the plan as described therein. Employee understands and acknowledges that he/she does not have the option to receive the amounts (or any portion thereof) directly contributed by the Board, on behalf of the employee, as a pick-up contribution to MPSERS unless IRS or MPSERS regulations prevent pre-tax contributions to MPSERS on behalf of the employee as described above. In this event the amount of the Plan benefit (less deductions required by law) will be distributed to each Plan participant or the Plan participant shall have the option to render his/her resignation as null and void. Each participant shall be solely responsible for his/her share of all applicable taxes. 3. Employee acknowledges and agrees that he/she has been provided at least forty-five (45) days within which to consider the terms of the Plan as well as this Agreement and Waiver/Release and employee’s decision to retire and participate in the Plan. If the employee signs and returns this Agreement and Waiver/Release of Claims (Attachment B) prior to the expiration of the forty-five

CONTRACTUAL ISSUES. This Plan temporarily replaces or supersedes any retirement benefits provided by the Board as outlined in the existing or successor Master Agreement between the Board and the Association. Specifically, this agreement suspends the effectiveness and operation of Section 4.1 paragraph E (payment for unused sick leave allowance) of the 2003-2007 Master Agreement or its successor Agreement for those bargaining unit members who participate in this Plan. Under no circumstance shall any teacher be entitled to receive both the benefits paid in the ERI plan and severance benefits specified above. BENZIE COUNTY CENTRAL SCHOOLS BENZIE COUNTY CENTRAL EDUCATION ASSOCIATION, MEA/NMEA/NEA BOARD OF EDUCATION By: By: By: By: EARLY RETIREMENT INCENTIVE PLAN APPLICATION/RETIREMENT FORM I, the undersigned employee, hereby apply to participate in the Early Retirement Incentive Plan (hereinafter, "Plan") and request to receive the benefit thereof. I do hereby: 1. Represent that I have examined and read the Early Retirement Incentive Plan Document and that I understand and knowingly accept its conditions and terms. 2. If accepted for participation in the Plan, I will submit my written resignation for the purposes of retirement with a separation date of the final teacher obligation day of June 30, 20062007. I further understand that the date of separation is subject to approval by the Board. 3. Agree to execute the Plan Agreement and Waiver/Release of Claims attached hereto and incorporated herein (Attachment B). I hereby acknowledge and state that I have carefully read and fully understand the terms and conditions of the Plan, including Attachments A and B, and I do hereby request to participate therein and receive the benefit thereof. In consideration and exchange for my participation, I will tender my voluntary, unconditional and irrevocable resignation from employment with the Benzie County Central Schools according to terms and conditions of the Plan provided that the Board as a participant accepts me. My resignation will be furnished to the Board at the time of approval of my application to participate in the Plan and shall become effective on June 30, 2006 2007 which shall be specified in my resignation provided that MPSERS has acknowledged receipt of and acceptance of the lump sum pre-tax payment by the Board on my behalf. Furthermore, I understand that I have the option to rescind my resignation should MPSERS not accept the lump sum pre-tax payment by the Board on my behalf. I hereby acknowledge and state I am making this election as an exercise of my own free will and understand that if I were to reject the offer to participate in the Plan, that such rejection would have absolutely no impact or consequences on my current or future employment or status with Benzie County Central Schools. Dated: Employee Signature: Dated: Accepted By: Agreed upon effective date of resignation if eligible employee is accepted for Plan participation: June 30, 20062007. Dated: Employee Signature: Dated: Witnessed by: STATE OF MICHIGAN) ) Ss COUNTY OF ) On this day of , 20062007, before me personally appeared who being duly sworn says, he/she is person(s) described herein and who executed the foregoing instrument for the purpose therein stated and acknowledged the same as his/her free act and deed. Notary Public My Commission Expires: EARLY RETIREMENT INCENTIVE PLAN AGREEMENT AND WAIVER/RELEASE OF CLAIMS This Early Retirement Incentive Plan (hereinafter, "Plan") Agreement and Waiver/Release of Claims is entered into this day of , , by, between, and among (hereinafter, "Employee"), the Benzie County Central Schools Board of Education (hereinafter, "Board"), and the Benzie County Central Education Association, MEA/NMEA/NEA (hereinafter, "Association") in consideration of the mutual covenants and undertakings as recited below: 1. Employee acknowledges and agrees that he/she has voluntarily elected to participate in the Early Retirement Incentive Plan (the "Plan") and accepts the benefits and conditions of the Plan as described in the applicable Plan document executed between the Board and Association. Further, Employee acknowledges and agrees that he/she has submitted his/her resignation from employment with the Benzie County Central Schools for the purpose of retirement, according to the terms and conditions of the Plan, voluntarily and that such resignation is irrevocable when accepted by the Board subject to paragraph 3 of this document. Further, Employee acknowledges and understands that he/she could have rejected the offer to participate in the Plan and that such rejection would have had absolutely no impact or consequences upon his/her current or future employment or status with the Benzie County Central Schools 2. The Board Acknowledges and agrees that it shall remit the Plan benefit on behalf of the Employee as a lump sum pre-tax pick-up contribution to the Michigan Public Schools Retirement System (MPSERS) according to the terms and conditions of the plan as described therein. Employee understands and acknowledges that he/she does not have the option to receive the amounts (or any portion thereof) directly contributed by the Board, on behalf of the employee, as a pick-up contribution to MPSERS unless IRS or MPSERS regulations prevent pre-tax contributions to MPSERS on behalf of the employee as described above. In this event the amount of the Plan benefit (less deductions required by law) will be distributed to each Plan participant or the Plan participant shall have the option to render his/her resignation as null and void. Each participant shall be solely responsible for his/her share of all applicable taxes. 3. Employee acknowledges and agrees that he/she has been provided at least forty-five (45) days within which to consider the terms of the Plan as well as this Agreement and Waiver/Release and employee’s decision to retire and participate in the Plan. If the employee signs and returns this Agreement and Waiver/Release of Claims (Attachment B) prior to the expiration of the forty-five