Adjustments in Connection with Compensatory Options Sample Clauses

Adjustments in Connection with Compensatory Options. Notwithstanding anything in this Agreement to the contrary, upon the exercise of an option issued in connection with the performance of services to, or for the benefit of, the Company, (a “Compensatory Option”) the Capital Account associated with the Membership Units issued as a result of such exercise shall, immediately following the exercise of the Compensatory Option, equal the excess of (i) the Capital Account balance the option holder would have had on the date of such exercise had the Membership Units been issued to the option holder on the date the Compensatory Option was granted for a capital contribution in the amount of the option exercise price attributable to the Membership Units (assuming, for purposes of this calculation, that Capital Accounts had been adjusted in accordance with the Section 4.2(a) on such date), over (ii) the current Capital Account balance of the option holder.
Sample 1
AutoNDA by SimpleDocs

Related to Adjustments in Connection with Compensatory Options

  • Special Compensatory Leave (A) Earning of Special Compensatory Leave Credits. Special compensatory leave credits may be earned only in the following instances:

  • Compensatory Time Cash Out All compensatory time must be used by June 30th of each year. If compensatory time balances are not scheduled to be used by the employee by April of each year, the supervisor will contact the employee to review their schedule. The employee’s compensatory time balance will be cashed out every June 30th or when the employee:

  • Compensatory Time Use An employee must use compensatory time prior to using vacation leave, unless this would result in the loss of their vacation leave or the employee is using vacation leave for domestic violence leave. Compensatory time must be used and scheduled in the same manner as vacation leave, as in Article 11, Vacation Leave. Employees may use compensatory time for leave as required by the Domestic Violence Leave Act, RCW 49.76. The Employer may schedule an employee to use their compensatory time with seven (7) calendar days’ notice.

  • Overtime and Compensatory Time Because of the unique nature of the duties and emergency response obligations of the Division, management reserves the right to assign employees to work overtime as needed.

  • Pay Options 16.1 All wages due shall be paid weekly directly into an employee’s nominated bank account.

  • Voluntary Options The County shall provide additional options to permit employees to elect up to three (3) times their annual salary to a maximum of $500,000 of provided and purchased life insurance. Premium rates for these supplemental options shall be determined by the County based on the quotation from the insurance carrier selected by the County to provide the life insurance.

  • Our Liability for Failure to Complete Transactions If we do not properly complete a transaction from your Card on time or in the correct amount according to our Agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will not be liable, for instance:

  • Compensatory Time A Bargaining Unit member may choose to take compensatory time in lieu of overtime compensation if such choice is indicated during the tour of duty in which the overtime is worked. Compensatory time shall be credited to the Bargaining Unit member and accumulated at the rate of one and one-half (1 ½) hours for each overtime hour worked. Each Bargaining Unit member’s compensatory time bank shall be limited in accumulation to a maximum number of two hundred forty (240) hours. Once a Bargaining Unit member has reached the maximum hours of compensatory time as compensation for overtime hours worked, all additional overtime will be paid. The Bargaining Unit member may choose to carry over any balance into the following year. Any balance of compensatory time carried over into the following year shall count towards the two hundred forty (240) hour cap in that year. Compensatory time off must be taken at a time agreeable to the Department and the Bargaining Unit member. Approval for compensatory time off shall not be unreasonably withheld. Compensatory time off should be requested as far in advance as possible but no later than forty eight (48) hours in advance. When Bargaining Unit members request compensatory time off at least 45 calendar days in advance, the employer will, within five (5) working days of the request being made, notify the member whether or not his/her request has been approved. Approval for compensatory time shall not be unreasonably withheld. As soon as the employer notifies the member that his/her request has been approved, and if the employer determines that the shift will be filled, the employer will post the overtime assignment to cover the member’s request. If there are no volunteers to cover this need for overtime, and if the employer determines that the shift will be filled, a mandate to cover the shift will occur no less than seven (7) calendar days in advance of the beginning of the shift that needs to be covered. The employee being mandated will have the lowest number of overtime hours worked and will be notified by a supervisor. In the event the employee being mandated is on an approved leave and cannot be provided seven

  • Election of Cash/Compensatory Time Off Justice—

  • Compensatory Leave At the employee's option, all or part of compensatory leave balances held at the beginning of active military duty may be:

Time is Money Join Law Insider Premium to draft better contracts faster.