Muncie Novelty/Indiana Ticket Update – March 27, 2020

To All Employees of Muncie Novelty and Indiana Ticket:

As this week progressed, some of the questions we have had are finally being answered. Many questions remain and we are adjusting day to day as information becomes available.

We did finally receive information regarding the Company insurance plan and from the Indiana Department of Insurance (see https://www.muncienovelty.com/cms/aga-health-insurance-update-for-covid-19/). Both directives allow for an extension for employees that are not actively at work to remain insured without the COBRA provision (see the accompanying document). Again, health insurance premiums have been paid through the end of April.

With this, our initial concern related to unemployment has been relieved. As of today, we are planning to remain closed until at least April 7 per the State’s Stay at Home Mandate.

We are entering payroll today for the March 20-26 work week, with the regular payable date of April 2. For many of you, the Company is including a bonus, to assist due to the unforeseen closure. Obviously, this situation also has impact on our clients and suppliers and we cannot currently project cash flow beyond the information we have available today.

After several conversations with our legal counsel, we do not know of any limitations that should prevent you from seeking unemployment assistance as individual circumstances dictate. We are all hopeful that the stimulus package is passed soon and will provide additional relief. Our shared hope is that this will help us get through this period and that we can soon begin planning for recovery.

As mentioned above, we are seeing new information every day and we will pass along anything we see that is relevant to the Company and our Employees. Please continue to take care of yourselves and families.

Sincerely,
David & Megan

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