Common use of Thrift Plan Clause in Contracts

Thrift Plan. Employees covered by this contract who are or become First Meat Men shall be eligible for participation in The Great Atlantic & Pacific Tea Company, Inc. Employees' Thrift Plan in accordance with its terms during the period such employees hold the position of First Meat Man. Such First Meat Men may become members of the "Employees' Thrift Plan" or retain their membership, in accordance with the terms and conditions of the Plan as outlined in the prospectus attached here­ to, and made a part hereof. The Union agrees that if the Plan is sub­ sequently altered, modified or discontinued on a National Company basis in accordance with Article IV, as shown in the attached prospectus, or otherwise, such change will not be subject to the grievance and arbi­ tration procedure as provided in Article XV of the contract, and will not be considered a violation of this contract; however, Article XVI (the no strike clause) will continue to apply.