Existing Arrangement Clause Samples
The 'Existing Arrangement' clause defines and acknowledges any prior agreements, contracts, or understandings that exist between the parties before entering into the current contract. It typically specifies whether these previous arrangements will remain in effect, be superseded, or be integrated into the new agreement. For example, it may clarify that earlier service agreements or purchase orders are either replaced by the new contract or continue to govern certain aspects not addressed in the new terms. This clause ensures clarity regarding the status of prior commitments, preventing conflicts or misunderstandings about which terms apply moving forward.
Existing Arrangement. Clearwater, as sponsor of the existing Health and Welfare Plans through December 31, 2008, agrees not to make any modification, amendment or other change to any Health and Welfare Plan without Potlatch’s consent through December 31, 2008.
Existing Arrangement. The existing system consists of a redundant fibre network using ethernet TCP/IP. There are dual redundant iFIX database servers communicating via OPC data protocol. The GCC Operator Stations run Intellution iFIX HMI communicating as OPC Clients.
Existing Arrangement. In addition to your base annual salary, the Company shall establish a deferred compensation account on your behalf, which shall be credited with the amount of $100,000 on December 31, 2000 and on each subsequent December 31 during the term of this Agreement through December 31, 2004. This account shall also be credited on December 31, 2001 and each December 31 thereafter with an amount equal to interest on the amount outstanding in the account on the day prior to such December 31 at the rate of 10% per annum. Commencing within 60 days after retirement or termination of employment, the Company shall pay you, for 120 months, an amount equal to the amount then outstanding in the deferred compensation account divided by the number of payments remaining to be made. The account shall be reduced by the amount of any payments and shall continue to be credited with interest annually on the amount outstanding in the account. You may elect to receive payments over a period of less than 120 months (including a lump sum), provided that your election is made prior to the beginning of the year before the year of your retirement or termination of employment. In the event of your death the Company shall make payments to your estate. Such payments to your estate shall be made in the same manner as specified above, except that such payments shall commence within one month of your death. You understand and agree, and the Company agrees, that the deferred compensation account is solely a bookkeeping account, does not represent a segregated amount of money for your benefit, and that you shall not have by virtue of this Agreement a security interest in the foregoing account or in any assets or funds of the Company.