Placement Pool Clause Samples
A Placement Pool clause defines a designated group or reserve of securities, shares, or other assets that are set aside for allocation to specific parties, such as employees, investors, or underwriters, typically in the context of a financing or investment transaction. This clause outlines the size of the pool, eligibility criteria for participants, and the process by which allocations are made. Its core practical function is to ensure that there is a clear and predetermined mechanism for distributing these assets, thereby providing transparency and managing expectations among stakeholders.
Placement Pool. Employees who have been notified that they are under consideration for involuntary transfer due to declining enrollment in a building or program, changes in staffing ratio, or the reduction of a special program, school closures or changes in school boundaries who do not fill vacancies pursuant to Article 9, Sections 3, 4, 5, shall be placed in a placement pool. In addition, employees who were involuntarily transferred the previous year due to declining enrollment in a building or program, the reduction of a special program, school closures, or changes in school boundaries shall also be placed in the placement pool, provided written notice is given by the employee to the Human Resources Department prior to 15 June of the desire for such placement. After 31 July and prior to 1 October, the District will fill openings by involuntarily transferring employees who are in the placement pool. Nothing in this section shall preclude the District from hiring a person from outside the District when no employee in the pool is qualified for an opening.
Placement Pool. Employees will be notified annually between July 31 and October 1, and upon request, of their current status in the Placement Pool. Notification will contain all positions for which the employee is considered qualified. Promotional positions will be filled with qualified applicants from the Placement Pool by seniority. Employees can request to form a qualification plan with the manager/supervisor between October 1 and January 31 of each year, in an effort to qualify for a position in the Placement Pool.
Placement Pool. Employees who have been notified that they are under consideration for involuntary transfer due to declining enrollment in a building or program, changes in staffing ratio, or the reduction of a special program, school closures or changes in school boundaries who do not fill vacancies pursuant to Article 9, Sections 3, 4, 5, shall be placed in a placement pool. In addition, employees who were involuntarily transferred the previous year due to declining enrollment in a building or program, the reduction of a special program, school closures, or changes in school boundaries shall also be placed in the placement pool, provided written notice is given by the employee to the Human Resources Department prior to June 15th of the desire for such placement. During the period from June 15th to August 1st, all vacancies which are available in the District shall be advertised for approximately a two (2) week period by the Human Resources Department, in accordance with Article 9, Section 2. Only those employees who have been provided notice that they are under consideration for involuntary transfer, pursuant to Article 10, Section 2 of the Agreement shall be eligible to apply and be considered for such vacancies. After August 1st and prior to October 1st, the District will fill openings by involuntarily transferring employees who are in the placement pool. Nothing in this section shall preclude the District from hiring a person from outside the District when no employee in the pool is qualified for an opening.