ACME NEGOTIATIONS UPDATE

The Union Leadership and negotiation committee provided the company with this proposal to take advantage of the pension savings before the December 31st deadline. The Company never responded.

 

1.) The Union (UFCW Local 1360) and the Company (Acme Markets) agree to a pension plan stand alone rehab agreement - alternative benefit schedule seven.

 

2.) The parties agree that a new successor CBA for a term of not less than 3yrs will be negotiated and entered into on or before March 31, 2010 with an increased annual wage and benefit cost in the first year of the new agreement of not less than 3.5% (excluding statutory roll-up) of the costs of wages and benefits for the Local 1360 bargaining unit as of April 1, 2009, and no less than a 3.5% increase (exclusive of statutory roll-up) in each successive year of the CBA over the prior year wage and benefits cost.

 

3.) If the parties are unable to reach an agreement in accord with paragraph #2 above, final and binding interest arbitration shall be invoked, with a tripartite panel, pursuant to the applicable rules of the American Arbitration Association.

 

4.) The parties agree to an extension of the current Local 1360 collective bargaining agreement until a new CBA is entered into or awarded in accord with paragraph #2 or #3 above.