Change in Subsidiary's Status; Leaves of Absence Sample Clauses

Change in Subsidiary's Status; Leaves of Absence. If the Optionee is employed only by an entity that ceases to be a subsidiary, this event is deemed for purposes of this Agreement to be a termination of the Optionee’s employment by the Company other than a termination for Cause, Total Disability, Retirement or death of the Optionee. Absence from work caused by military service, authorized sick leave or other leave approved in writing by the Company or the Committee shall not be considered a termination of employment by the Company for purposes of Section 5 only if reemployment upon the expiration of such leave is required by contract or law, or such leave is for a period of not more than 90 days.
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Change in Subsidiary's Status; Leaves of Absence. If the Optionee is employed by an entity that ceases to be a Subsidiary and does not remain employed by the Company or another Subsidiary, this event is deemed for purposes of this Agreement to be a termination of the Optionee's employment by the Company other than pursuant to a Dismissal for Cause. Absence from work caused by military service, authorized sick leave or other leave approved in writing by the Committee shall not be considered a termination of employment by the Company for purposes of Section 4, subject to such conditions as may be imposed in connection with the approval of the leave of absence.
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Change in Subsidiary's Status; Leaves of Absence. If the Optionee is employed only by an entity that ceases to be a subsidiary, this event is deemed for purposes of this Option Agreement to be a Termination of the Optionee’s employment by the Company (other than a Termination for Cause, voluntary resignation, or Retirement of the Optionee). Absence from work caused by military service, authorized sick leave or other leave approved in writing by the Company or the Committee shall not be considered a termination of employment by the Company for purposes of Section 6; provided that unless reemployment upon the expiration of such leave is required by contract or law, such leave is for a period of not more than ninety (90) days. Vesting of the Option shall continue during any paid leave of absence, but shall be tolled during any unpaid leave of absence; provided, in either case, that the Optionee returns to status as an employee. Unless otherwise provided by the Committee, if the Optionee does not return to employment following the Optionee’s leave of absence, the Optionee’s Severance Date shall be deemed to be the date upon which the Company receives notice from the Optionee to that effect or otherwise determines that the Optionee will not be returning to employment. As of such Severance Date, the Option shall be exercisable only to the extent it is vested as of the Severance Date and only to the extent provided in Section 6 hereof.
Sample 1
Change in Subsidiary's Status; Leaves of Absence. If the Optionee is employed by an entity that ceases to be a subsidiary, this event is deemed for purposes of this Agreement to be a termination of the Optionee's employment by the Company other than a retirement, Total Disability or death of Optionee. Absence from work caused by military service, authorized sick leave or other leave approved in writing by the Company or the Committee shall not be considered a termination of employment by the Company for purposes of Section 4; provided that unless reemployment upon the expiration of such leave is guaranteed by contract or law, such leave is for a period of not more than 90 days.
Sample 1

Related to Change in Subsidiary's Status; Leaves of Absence

  • Approved Leave of Absence With Pay During Vacation When an employee is qualified for bereavement leave, sick leave or any other approved leave with pay during her vacation period, there shall be no deduction from the vacation credits for such leave. In the case of sick leave, this section shall only apply when the period of illness or injury is in excess of two (2) days and a note from a physician may be required. The period of vacation so displaced shall be taken at a mutually agreed time. An employee intending to claim displaced vacation leave must advise the Employer and provide necessary documentation within seven (7) days of returning to work.

  • Return from Leave of Absence (a) Before a Nurse may return to work from a leave granted under Article 9.00, she or he must provide a minimum of four (4) weeks written notice of the specific date of his or her return to work, or such shorter time as mutually agreed.

  • Approved Leave of Absence During Vacation Where it can be established by the employee through a doctor's certificate that an illness or accident occurred, or where an employee qualifies for bereavement or any other approved leave during his/her period of vacation, there shall be no deduction from vacation credits for such absence. The period of vacation so displaced shall either be added to the vacation or reinstated for use at a later date, at the employee's option, as mutually agreed.

  • Unrequested Leave of Absence Section 1. Purpose: The purpose of this Article is to implement the provisions of Minn. Stat. § 122A.40, Subd. 10, which Article, when adopted, shall constitute a plan for unrequested leave because of discontinuance of position, lack of pupils, financial limitations or merger of classes caused by consolidation of districts.

  • Parental Leave of Absence A. A female unit member may use any or all accumulated leave during pre- and post-natal care for that period of time she is temporarily disabled, as determined by the unit member and her physician.

  • Union Leave of Absence An employee on an unpaid Union leave of absence shall have her wages, benefits and seniority continued by the Employer, and the Union agrees to reimburse the Employer for the costs of such wages and benefits. Employees requesting leave under this article will provide the Employer with as much advance notice as possible of the dates of the leave. Where there are less than fifteen (15) regular employees at a workstation at the time the leave request is submitted, and subject to operational requirements, unpaid Union leave of absence will be granted to one employee for the purpose of conducting Union business. This would be an additional person on Union leave at worksites where the position of the Union President or Council member has been backfilled for the duration of their term of office. A leave of absence without pay shall be granted to an employee who is a member of the Union and who is:

  • Leave of Absence for Union Business (a) The Employer shall grant leaves of absence to employees to attend Union Conventions, negotiations of the Collective Agreement with the Employer and other Union business. The Union agrees that such leave will not unduly affect the proper operations or be detrimental to the proficient operations of the Employer.

  • Unpaid Leave of Absence If an employee is on an unpaid leave of absence, then vacation leave, compensatory time, or sick leave cannot be used for the purpose of maintaining eligibility for an Employer Contribution by keeping the employee on a State payroll for one (1) working day per pay period.

  • ARTICLE LEAVE OF ABSENCE The Employer, may, in its discretion, grant a leave of absence with or without pay to any employee for education personal reasons. Request for leave of absence shall be in writing and submitted to his supervisor who will forward the same to the designated Human Resources representative for approval. An employeeshall not be required to use his accumulated vacation before requesting a leave of absence for non-vacation purposes. The Employer shall grant leaves of absence without pay to up to four (4) employees to attend Union conventions or seminars, provided that: such leave does not unduly interfere with the operation requirements of the Employer; the total leave of absence granted hereunder shall not exceed twenty-five working days per year of the agreement; not more than one (1) employee from any program unit may receive leave hereunder at any one time and; the Union gives fourteen (14) clear notice of such leave to the Employer. Leave of absence due to pregnancy and/or parental leave shall be granted in accordance with the requirements of the Standards Act of Ontario If an employee who has completed his probationary period is required to serve as a juror, he shall not lose his regular pay because of such attendance provided he notifies his supervisor immediately upon notification that he will be required to serve as a juror, presents proof of service and promptly pays to the Employer any amounts paid to him for such service. Employees absent from work for any continuous period of fifteen (15) calendar days or more other than a period of vacation leave or paid sick leave shall not earn vacation or sick leave credits during the period of any such absence and anniversary dates shall be adjusted accordingly except as specified in Article In addition, the Employer shall not be required to contribute to the payment of health and welfare benefits during any such absence. Employees who desire to maintain health and welfare benefits through the Employer must arrange payments of premiums for all such benefits and pay all such premiums through the Employer before commencing any absence. Notwithstanding the preceding paragraph, it is agreed that the Employer shall maintain health and welfare benefits for employees who are off work on Long Term Disability or Workplace Safety and Insurance Board Benefits for a period of up to one (1) year from the date such employee ceased working for the Employer provided the employee pays his portion of the health and welfare benefits premium. An employee shall be entitled to paternity leave which shall consist of one (1)day with pay and two (2) days without pay.

  • Paid Leave of Absence Upon request an employee shall be granted a leave of absence with pay for:

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