Common use of Thrift Plan Clause in Contracts

Thrift Plan. OPERATION— Eligible full time employees covered by this con­ tract may become members of the Employees’ Thrift Plan in ac­ cordance with the terms and conditions of the plan as outlined in the prospectus attached hereto and made a part hereof. The Union agrees that if the plan is subsequently altered, modified or discontinued on a national compay basis in accordance with Article IV, as shown in the attached prospectus, or otherwise, such change will not be subjected to the grievance and arbitra­ tion procedure as provided in Article VIII, and will not be con­ sidered as a violation of this contract; however, Article VIII, Strike, Lockout Bar, will continue to apply.