Settlement Intent Clause Samples
The Settlement Intent clause establishes the parties' mutual agreement that, in the event of a default or termination, all outstanding obligations between them will be consolidated and settled through a single net payment. This clause typically applies to financial contracts or trading agreements, where multiple transactions may be outstanding at any given time. By ensuring that only the net balance is paid, the clause reduces credit risk and administrative complexity, providing clarity and efficiency in the settlement process.
Settlement Intent. In the event that the COUNTY subsequently reaches a tentative agreement with another labor organization for a successor agreement or extension, that provides:
a. A General Cost of Living Salary Increase effective any time between the date this TENTATIVE AGREEMENT is signed by the PARTIES, and June 30, 2022;
b. Any increases to the employer’s fringe benefit contributions effective any period of time between the date this TENTATIVE AGREEMENT is signed by the PARTIES, and June 30, 2022;
c. Any and all one-time payment(s) effective between the date this TENTATIVE AGREEMENT is signed by the PARTIES, and June 30, 2022, that equal(s) more than twelve-hundred dollars ($1200.00) for regular, full-time employees; and/or
d. Any and all one-time payment(s) effective between the date this TENTATIVE AGREEMENT is signed by the PARTIES, and June 30, 2022, for contingent hire employees. the COUNTY agrees to provide the same benefit(s) to MCMEA, including the extension of any of these benefits to Contingent (Extra) Hires. This provision applies only to negotiated General Cost of Living Salary Increases, the employer’s fringe benefit contributions, and any and all one-time payments, as these topics are described, above.
Settlement Intent. In the event that County of Marin reaches a tentative agreement with another labor organization for successor Agreement with a 2018-2021 term that provides negotiated General Cost of Living Salary increases that are cumulatively greater than those to which the parties have agreed herein, the County agrees to provide the higher overall (cumulative) General Cost of Living Salary increase to PMA, unless the negotiated salary increase is part of a package proposal. In such an event, PMA can vote to accept the package or refuse the package but cannot receive the increase without the corresponding concession. In the event that County of Marin reaches a tentative agreement with another labor organization for successor Agreement with a 2018-2021 term that provides an increase to the fringe benefit package that is greater than the fringe benefit changes to which the parties have agreed herein, PMA may elect to substitute the higher Fringe Benefit Package for the fiscal years of the Agreement, unless the negotiated fringe benefit increase is part of a package proposal. In such an event, PMA can vote to accept the package or refuse the package but cannot receive the increase without the corresponding concession. This provision relates only to negotiated General Cost of Living Salary Increases and fringe benefit package changes and does not apply to equity adjustments or any other increases not specified in this clause.
Settlement Intent. In the event that County of Marin reaches a tentative agreement with another labor organization whose contract expires June 2022 or with MAPE if they agree to a contract extension in 2022, and the County provides that union a negotiated General Cost of Living Salary increases (not including class specific equity adjustments) and/or any additional non-unit specific one-time payments, which are greater than those to which the parties have agreed herein, the County agrees to provide the higher COLA* or one-time payment to PMA, unless the negotiated salary increase is part of a package proposal. In such an event, PMA can vote to accept the package or refuse the package but cannot receive the increase without the corresponding concession. *COLA increase received by the other bargaining units in 2021 will be included in the analysis of whether a unit has received a higher cumulative COLA. In the event that County of Marin reaches a tentative agreement with another labor organization whose contract expires in June 2022 or with MAPE if they agree to a contract extension in 2022, and the County provides an increase to the fringe benefit package that is greater than the fringe benefit changes to which the parties have agreed herein, PMA may elect to substitute the higher Fringe Benefit Package for the fiscal years of the Agreement, unless the negotiated fringe benefit increase is part of a package proposal. In such an event, PMA can vote to accept the package or refuse the package but cannot receive the increase without the corresponding concession.
Settlement Intent. In the event that County of Marin reaches a tentative agreement with another labor organization whose contract expires June 2022 or with MAPE if they agree to a contract extension in 2022, and the County provides that union a negotiated General Cost of Living Salary increases (not including class specific equity adjustments) and/or any additional non-unit specific one-time payments, which are cumulatively greater than those to which the parties have agreed herein, the County agrees to provide the higher COLA* or one-time payment to Teamsters DAs, unless the negotiated salary increase is part of a package proposal. In such an event, Teamsters DAs can vote to accept the package or refuse the package but cannot receive the increase without the corresponding concession. *COLA increase received by the other bargaining units in 2021 will be included in the analysis of whether a unit has received a higher cumulative COLA. In keeping with the goal of establishing parity in the County among the attorney classes (I, II, III, IV) if salaries of comparable attorney classes at the County (Public Defender and/or County Counsel) are increased more than the negotiated increases herein during the term of this Agreement (2022-2025), the Deputy District Attorneys will be increased accordingly. In the event that County of Marin reaches a tentative agreement with another labor organization whose contract expires in June 2022 or with MAPE if they agree to a contract extension in 2022, and the County provides an increase to the fringe benefit package that is greater than the fringe benefit changes to which the parties have agreed herein, Teamsters DAs may elect to substitute the higher Fringe Benefit Package for the fiscal years of the Agreement, unless the negotiated fringe benefit increase is part of a package proposal. In such an event, Teamsters DAs can vote to accept the package or refuse the package but cannot receive the increase without the corresponding concession.
Settlement Intent. As a condition to proceeding to closing under the SEA, the Parties desire to fully and finally compromise and settle all Claimed Amounts and any other claims ▇▇▇▇▇▇ may have against the Company, Thoth, or ▇'▇▇▇▇▇, to provide certainty to all parties and to facilitate the orderly transition of control of the Company.
Settlement Intent. May 19, 2022 Marin County Management Employees’ MARIN COUNTY MANAGEMENT EMPLOYEES' ASSOCIATION