Common use of Company’s Right to Postpone Leave Clause in Contracts

Company’s Right to Postpone Leave. If the Company is unable to obtain a suitable replacement for a Participant for the period of a Leave of Absence specified by the Participant, the Company, by notice given to the Guild and to the Participant not less than 6 months before his Leave of Absence, may, with the agreement of the Guild, postpone the Participant’s Leave of Absence on one occasion only for a period of up to one year as specified in the notice, provided that commencement of the Participant’s Leave of Absence will not thereby be postponed to a date later than 6 years after the Commencement Date. If a Participant’s Leave of Absence is so postponed, the Participant may choose to remain in the Plan or may by notice given to the Company withdraw from the Plan, in which case the Participant will be considered to have thereupon withdrawn from the Plan, and the Company will within 30 days after notice is so given pay to the Participant in one lump sum payment the total of

Company’s Right to Postpone Leave. If the Company is unable to obtain a suitable replacement for a Participant for the period of a Leave of Absence specified by the Participant, the Company, by notice given to the Guild and to the Participant not less than 6 months before his Leave of Absence, may, with the agreement of the Guild, postpone the Participant’s Leave of Absence on one occasion only for a period of up to one year as specified in the notice, provided that commencement of the Participant’s Leave of Absence will not thereby be postponed to a date later than 6 years after the Commencement Date. If a Participant’s Leave of Absence is so postponed, the Participant may choose to remain in the Plan or may by notice given to the Company withdraw from the Plan, in which case the Participant will be considered to have thereupon withdrawn from the Plan, and the Company will within 30 days after notice is so given pay to the Participant in one lump sum payment the total of