OPTION D Clause Samples

OPTION D. Senior Meter Readers and Meter Readers will be offered a one-time opportunity to voluntarily be assigned to a CIP Inspector position at locations identified by the Company based on work and resource needs. Senior Meter Readers and Meter Readers electing a CIP Inspector position will have exercised their right to an employment opportunity as described in Attachment 1 and will no longer be eligible for severance under this agreement.

OPTION D. Grantee will agree to move off the Island, and Grantor will provide Grantee with funds to buy another home which is not located in the IDJC Community (“Home”). There shall be no liens or mortgages on the Home without the written consent of the Grantor other than the mortgage in favor of Grantor. ▇▇▇▇▇▇▇ will agree to live in the Home as his/her primary residence for the Occupancy Period. ▇▇▇▇▇▇▇ will agree to move and make the Home his/her Primary Residence within sixty (60) days of the Act of Transfer conveying the Home to the Grantee. If ▇▇▇▇▇▇▇ owns an interest in Island Property, Grantee MAY KEEP his/her interest in the Island Property. Grantee will have to agree to use the Island Property only for Recreational Use. ▇▇▇▇▇▇▇ will not live on the Island Property as his/her Primary Residence. ▇▇▇▇▇▇▇ also agrees not to live on any Other Island Property as a Primary Residence. ▇▇▇▇▇▇▇ also agrees to comply with the Use and Occupancy Restrictions set forth below with respect to any Other Island Property, whether or not Grantee has an ownership interest in such property. If Grantee does not own an interest in Island Property, then upon acquisition of an ownership interest in Island Property, in whole or in part, whether by acquisition, gift, inheritance, succession or otherwise, Grantee will comply with the Use and Occupancy Restrictions set forth below, for as long as Grantee owns an interest in the Island Property. Other use and occupancy obligations are imposed on Grantee due to federal rules and regulations regarding use of Grant funds. These obligations are hereby incorporated into this Agreement. To make sure ▇▇▇▇▇▇▇ complies with these obligations, Grantee will give Grantor a mortgage on his/her Home. The form of the mortgage is attached to this Agreement. If Grantee violates these obligations, Grantor will notify Grantee of the violation and if Grantee does not correct such violation, then Grantor may foreclose on ▇▇▇▇▇▇▇’s Home under the mortgage. HOWEVER, YOU WILL NOT LOSE YOUR HOME, if someone other than you, the Grantee, violates the restrictions on use of the Island Property or Other Island Property, without your consent. After you have satisfied with the requirement to occupy the Home for the Occupancy Period and all other conditions to obtain a release of the mortgage, your agreement to comply with the Use and Occupancy Restrictions will continue and be enforceable through obtaining a judgment against you for specific performance or injunctive...

OPTION D. If Option D is applicable, effective as of the Option D Maturity Date, Buyer (i) shall or cause the Lender to, exchange $13,000,000 principal amount of the Loan for 520,000 shares of Preferred Stock to be issued by the Company (subject to the antidilution and "Organic Change" provisions of the Loan Agreement) and (ii) shall have the option to acquire up to an additional 240,000 shares of Preferred Stock to be issued by the Company at a per share Additional Purchase Price of $25.00 (subject to the antidilution and "Organic Change" provisions of the Loan Agreement).

OPTION D. A last survivor pension under which the Member shall receive a monthly pension reduced from the monthly pension benefit otherwise payable under Option A, and upon the death of the Member, the Beneficiary shall receive a monthly pension benefit equal to 75 percent of that paid to the Member.

OPTION D. Any drivers other than six (6) hour drivers will be able to elect the option to pay the premium in full for Pak B. Option C is not available to this group.

OPTION D. Category Estimated Number of Employees Rate per Employee Total Single Employees (Self only) 75 Family Plan 350 SUBTOTAL

OPTION D. A reduced monthly pension payable to the Participant or former Participant during his lifetime, provided that, if the Participant or former Participant dies prior to his receipt of an amount equal to 120 monthly payments, the then-present value of the remainder of such 120 monthly payments shall be payable to his Beneficiary in a lump sum. If the former Participant dies prior to his receipt of all of such 120 payments without having designated a Beneficiary, of if the Beneficiary predeceases the former Participant, the then-present value of any remaining payments shall be paid in a lump sum to the former Participant’s estate. If the designated Beneficiary dies after the former Participant and before all of such 120 monthly payments have been made, the then-present value of the unpaid balance of such payments shall be paid in a lump sum to the Beneficiary’s estate.

OPTION D a) In each of the four (4) years of the Plan commencing September 1st following approval, the Teacher shall be paid 80% of the salary and responsibility allowance to which the Teacher is otherwise entitled in accordance with the Collective Agreement. b) The remaining 20% of such salary and responsibility allowance shall be retained by the Board and deposited at such times as indicated in Clause 7.01 of this Agreement in an individual interest bearing account in the Board's name on behalf of the Teacher and will be paid to the Teacher in the year of the leave. c) The calculation of interest under the terms of the Plan shall be done in accordance with the practice of the chartered bank with which the Board maintains its accounts.

OPTION D. X.......)