PROGRAM IN EFFECT Sample Clauses

PROGRAM IN EFFECT. The existing programs of group health, life, accidental death and dismemberment, drug purchase, expanded psychiatric service program and short term disability in the appropriate Summary Plan Descriptions (SPD’s) will remain in effect with the changes set out herein. Notwithstanding any reference in the group health SPD to a master contract, the Company is hereby required, with respect to any master or other contract between the Company and Blue Cross/Blue Shield of Alabama or any other claims administrator or insurer and with respect to any other plan document, to conform any such master or other contract or document to the benefits, terms and conditions in the applicable group health SPD. If this requirement is breached, the Union may file a policy grievance without regard to any filing deadline which may otherwise be required by this Agreement. All Bargaining Unit employees covered under this Agreement, regardless of employer will have current benefits outlined in this CBA. If there are any differences in the benefit plans between the Prime Contractor and the Sub-contractors, L-3 (or any Division thereof) will make the value of the plans the same. Within 120 days of the ratification of the CBA or change to the current SPD, the company will provide an updated SPD to all employees, covered under this CBA, no matter of employer nor insurance plan covered under.
Sample 1Sample 2Sample 3See All (4)
AutoNDA by SimpleDocs
PROGRAM IN EFFECT. The existing programs of group health, life, accidental death and dismemberment, drug purchase, expanded psychiatric service program and short term disability in the appropriate Summary Plan Descriptions (SPD’s) will remain in effect with the changes set out herein. Notwithstanding any reference in the group health SPD to a master contract, the Company is hereby required, with respect to any master or other contract between the Company and Blue Cross/Blue Shield of Alabama or any other claims administrator or insurer and with respect to any other plan document, to conform any such master or other contract or document to the benefits, terms and conditions in the applicable group health SPD. If this requirement is breached, the Union may file a policy grievance without regard to any filing deadline which may otherwise be required by this Agreement.
Sample 1

Related to PROGRAM IN EFFECT

  • Agreement in Effect Except as hereby amended, the Partnership Agreement shall remain in full force and effect.

  • Change in Effective Control A Change in Effective Control occurs if, over a twelve (12) month period: (i) a person or group acquires stock representing thirty percent (30%) of the voting power of the corporation; or (ii) a majority of the members of the board of directors of the ultimate parent corporation is replaced by directors not endorsed by the persons who were members of the board before the new directors’ appointment, as defined in Treasury Regulations §1.409A-3(i)(5)(vi).

  • Change in Effective Control of the Company A change in the effective control of the Company which occurs on the date that a majority of members of the Board is replaced during any twelve (12) month period by directors whose appointment or election is not endorsed by a majority of the members of the Board prior to the date of the appointment or election. For purposes of this clause (ii), if any Person is considered to be in effective control of the Company, the acquisition of additional control of the Company by the same Person will not be considered a Change of Control; or

  • Change in Ownership of a Substantial Portion of the Company’s Assets A change in the ownership of a substantial portion of the Company’s assets which occurs on the date that any Person acquires (or has acquired during the twelve (12) month period ending on the date of the most recent acquisition by such Person or Persons) assets from the Company that have a total gross fair market value equal to or more than fifty percent (50%) of the total gross fair market value of all of the assets of the Company immediately prior to such acquisition or acquisitions; provided, however, that for purposes of this subsection (c), the following will not constitute a change in the ownership of a substantial portion of the Company’s assets: (i) a transfer to an entity that is controlled by the Company’s stockholders immediately after the transfer, or (ii) a transfer of assets by the Company to: (A) a stockholder of the Company (immediately before the asset transfer) in exchange for or with respect to the Company’s stock, (B) an entity, fifty percent (50%) or more of the total value or voting power of which is owned, directly or indirectly, by the Company, (C) a Person, that owns, directly or indirectly, fifty percent (50%) or more of the total value or voting power of all the outstanding stock of the Company, or (D) an entity, at least fifty percent (50%) of the total value or voting power of which is owned, directly or indirectly, by a Person described in this subsection (c)(ii)(C). For purposes of this subsection (c), gross fair market value means the value of the assets of the Company, or the value of the assets being disposed of, determined without regard to any liabilities associated with such assets. For purposes of this definition, persons will be considered to be acting as a group if they are owners of a corporation that enters into a merger, consolidation, purchase or acquisition of stock, or similar business transaction with the Company. Notwithstanding the foregoing, a transaction will not be deemed a Change in Control unless the transaction qualifies as a change in control event within the meaning of Section 409A. Further and for the avoidance of doubt, a transaction will not constitute a Change in Control if: (x) its sole purpose is to change the jurisdiction of the Company’s incorporation, or (y) its sole purpose is to create a holding company that will be owned in substantially the same proportions by the persons who held the Company’s securities immediately before such transaction.

  • When Effective A notice or other communication that is e-mailed is effective when sent provided the sender receives an acknowledgement from the intended recipient (e.g. return receipt, return e-mail, or other written acknowledgement). A notice or other communication that is personally serviced is effective when personally delivered. A notice or other communication that is mailed is effective 3 Business Days after deposit in the United States mail.

  • Certain Effects of Termination In the event that this Agreement is terminated pursuant to Section 7.01:

  • Am I Eligible to Contribute to a Traditional IRA? Employees with compensation income and self-employed individuals with earned income are eligible to contribute to a Traditional IRA. (For convenience, all future references to compensation are deemed to mean “earned income” in the case of a self-employed individual.) Employers may also contribute to Traditional IRAs established for the benefit of their employees. In addition, you may establish a Traditional IRA to receive rollover contributions and transfers from the trustee or Custodian of another Traditional IRA or the Custodian or trustee of certain other retirement plans.

  • Change in Ownership of the Company A change in the ownership of the Company which occurs on the date that any one person, or more than one person acting as a group (“Person”), acquires ownership of the stock of the Company that, together with the stock held by such Person, constitutes more than 50% of the total voting power of the stock of the Company, except that any change in the ownership of the stock of the Company as a result of a private financing of the Company that is approved by the Board will not be considered a Change of Control; or

  • Flip-in Event (a) Subject to Subsection 3.1(b) and Section 5.1, in the event that prior to the Expiration Time a Flip-in Event shall occur, each Right shall constitute, effective at the close of business on the tenth Trading Day after the Share Acquisition Date, the right to purchase from the Company, upon exercise thereof in accordance with the terms hereof, that number of Shares having an aggregate Market Price on the date of consummation or occurrence of such Flip-in Event equal to twice the Exercise Price for an amount in cash equal to the Exercise Price (such right to be appropriately adjusted in a manner analogous to the applicable adjustment provided for in Section 2.3 in the event that after such consummation or occurrence, an event of a type analogous to any of the events described in Section 2.3 shall have occurred).

  • Termination Upon or Following a Change of Control (a) A Change of Control of the Company ("Change of Control") shall be deemed to have occurred upon the happening of any of the following events:

Time is Money Join Law Insider Premium to draft better contracts faster.