EFFECT OF TERMINATION AS EMPLOYER. In the event that an employer’s status as an Employer is terminated, then: (a) notwithstanding any provision to the contrary in any collective bargaining agreement or other similar agreement to which the employer is a party, the employer shall cease to be an Employer under the Plan; (b) any person employed by such former Employer shall cease to be an Employee and shall forfeit eligibility and lose qualification for any and all Benefits otherwise payable (other than a Severance and Death Benefit for which the Employee is and/or remains eligible and qualified); and (c) all Hours and Contributions with the former Employer after the former Employer’s termination date shall be disregarded.
Appears in 2 contracts
Sources: National Stabilization Agreement of the Sheet Metal Industry Trust Fund, National Stabilization Agreement of the Sheet Metal Industry Trust Fund