Demotion Through Reclassification Sample Clauses

Demotion Through Reclassification. An employee whose position is reclassified downward and who receives a demotion as a result thereof shall be paid in accordance with Article 21.06.F, and the employee's status shall remain unchanged.
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Demotion Through Reclassification. An employee whose position is reallocated downward and receives a demotion as a result thereof will be paid in accordance with 24.8 and the employee's status will remain unchanged.

Related to Demotion Through Reclassification

  • Reclassification If any reclassification of the capital stock of the Company shall be effected in such a way that holders of Common Stock shall be entitled to receive stock, securities, or other assets or property, then, as a condition of such reclassification, lawful and adequate provisions shall be made whereby the Holder hereof shall thereafter have the right to purchase and receive (in lieu of the shares of the Common Stock immediately theretofore purchasable and receivable upon the exercise of the rights represented hereby) such shares of stock, securities or other assets or property as may be issued or payable with respect to or in exchange for a number of outstanding shares of such Common Stock equal to the number of shares of such Common Stock immediately theretofore purchasable and receivable upon the exercise of the rights represented hereby. In any reclassification described above, appropriate provision shall be made with respect to the rights and interests of the Holder of this Warrant to the end that the provisions hereof (including, without limitation, provisions for adjustments of the Exercise Price and of the number of shares purchasable and receivable upon the exercise of this Warrant) shall thereafter be applicable, as nearly as may be, in relation to any shares of stock, securities or assets thereafter deliverable upon the exercise hereof.

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