Compensation Premium. As compensation for not being able to respect the provisions of the collective agreement regarding daily rest periods and regarding advanced notice for schedule communication and modification, employees will receive a compensation premium of two dollars ($2) per hour worked; Duration: Letter of Understanding will no longer be in effect once the Company has resolved the current scheduling difficulties. Once the Company can respect the provisions of the collective agreement pertaining to scheduling communications/modifications and daily rest periods, the compensation premium will no longer be paid. The current scheduling difficulties referred to herein are not to be confused with the irregular operations inherent to the YBX site that existed prior to the regulatory changes that took effect at the end of July 2015; Signed in Quebec, this 29th day of January 2019 Securitas Transport Aviation Security Ltd. United Steelworkers - Local TC 1976 LETTER OF UNDERSTANDING # 21 Kuujjuarapik - YGW BETWEEN: SECURITAS TRANSPORT AVIATION SECURITY LTD AND: SECTION LOCALE TC 1976 (MÉTALLOS)
Compensation Premium. For the period ending November 1, 2008 (the "Retro Period"), the Company's and its predecessor Albany-Chicago Company's workers compensation insurance was provided under Wausau Insurance Companies policies (the "Policies") held by CPL Industries, Inc. ("CPL"). The Policy has retrospective premium terms, and as a result, the Company may be assessed additional premiums or may be entitled to premium refunds with respect to coverage during the Retro Period. From and after the Closing, the Sellers shall indemnify Buyer and the Company from any additional premiums assessed with respect to the policies. Buyer shall provide the Seller Representative with prompt notice of receipt of any such assessment and Sellers shall promptly thereafter pay CPL directly the amount of the additional premium, providing evidence thereof to Buyer. Within ten business days after receipt thereof, Buyer will cause the Company to pay to the Seller Representative on behalf of the Sellers the amount of any refund received with respect to the Policies. .D&O Policy. With respect to any directors and officer (D&O) insurance policy or extended reporting period coverage purchased by the Company prior to the Closing or purchased by the Sellers, the Buyer not, and shall not cause the Company to, terminate, cancel or amend any such policy or coverage prior to the expiration date thereof. 8.
