LOCAL 495, UAW v. DIECAST CORP.

Docket No. 16206.

52 Mich. App. 372 (1974)

217 N.W.2d 424

LOCAL 495, UAW v. DIECAST CORPORATION

Michigan Court of Appeals.

Decided March 28, 1974.


Attorney(s) appearing for the Case

Rappleye, Bannasch & Wilkins (by William J. Addison), for plaintiff.

Miller, Johnson, Snell & Cumminskey (by Charles C. Hawk), for defendants.

Before: LESINSKI, C.J., and HOLBROOK and BASHARA, JJ.


HOLBROOK, J.

Defendant Diecast Corporation initiated a profit-sharing plan for its employees on October 1, 1961. Under the terms of the plan, Diecast Corporation was required to contribute a sum equal to 20% of the net profits of the company for each fiscal year in excess of 6% of the book value of the company at the beginning of the year. However, the contribution was not to exceed 15% of the compensation otherwise paid or accrued during that fiscal year to all participants...

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