Common use of Premium Reduction Clause in Contracts

Premium Reduction. In the event that any Employer paid premiums for benefits covered under this Collective Agreement are subsequently reduced and/or eliminated for any reasons, such premium reduction and/or elimination shall be the sole property of the Employer.

Appears in 3 contracts

Sources: Collective Agreement, Collective Agreement, Collective Agreement

Premium Reduction. In the event that any Employer fully paid Company premiums for benefits covered under this Collective Agreement are subsequently reduced and/or eliminated for any reasons, such premium reduction and/or elimination shall be the sole property of the EmployerCompany. The premium reduction and/or elimination shall not be the result of a decrease in the level of benefit coverage.

Appears in 2 contracts

Sources: Collective Agreement, Collective Agreement

Premium Reduction. In the event that any Employer paid premiums for benefits covered under this Collective Agreement are subsequently reduced and/or eliminated for any reasons, such premium reduction and/or elimination shall be the sole property of the Employer.

Appears in 2 contracts

Sources: Collective Agreement, Collective Agreement

Premium Reduction. In the event that any Employer Company paid premiums for benefits covered under this Collective Agreement are subsequently reduced and/or eliminated for any reasons, such premium reduction and/or elimination shall be the sole property of the EmployerCompany.

Appears in 1 contract

Sources: Collective Agreement