Displacement Options Sample Clauses

Displacement Options. Once a displaced Employee has been notified by the Employer, the Employee shall indicate in writing his/her preferred option within two (2) working days (ie. Monday to Friday) from the following: (a) Voluntary Severance: Employees will be invited to complete the expression of interest forms. Where the Employer accepts the Employees expressed interest in severance, the Employee shall be deemed to have voluntarily severed employment and shall forfeit all rights under the Collective Agreement. This severance is not deemed to be a layoff. It is understood that voluntary severance shall not be offered where vacancies exist within the displaced Employee’s classification and work site. However; where the displaced Employee is within a classification group and the existing vacancy is within the classification group at the site, the Employer shall determine if a voluntary severance (ie.; TSP payment) is to become available to the displaced Employee. It is understood that voluntary severance may not be offered where vacancies exist within the displaced Employee’s classification group and work site; or (b) A Regular or Temporary Bargaining Unit Vacancy: (i) A displaced Employee may choose any existing vacancy within the classification or classification group within the work site or the Bargaining Unit for which the Employee meets the threshold requirement of the vacancy; or, (ii) In the event that the Employee does not choose the vacant position within the classification or classification group at the site but wishes to displace the position of the least senior Employee within the classification or classification group at the site (or at another site within 50 km. of the displaced Employee’s site) and provided that the least senior Employee can meet the threshold requirements of the vacant position, the originally displaced Employee shall occupy the position of the least senior Employee and the least senior Employee moves to the vacant position; or (iii) A displaced Employee may choose any existing vacancy within the work site or the Bargaining Unit for which the Employee meets the threshold requirements of the vacancy; or (c) Displace another Employee in accordance with Article 16.07 (b); or (d) Accept the Layoff and be Placed on the Recall List.
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Displacement Options. An employee who is subject to layoff may apply for a vacant position in accordance with Section 5.8. If she/he is not the least senior employee, subject to the determination of qualifications as set forth in Section 6.2 the employee may displace the least senior employee in the classification in the bargaining unit or may displace the least senior employee in a lesser-paid classification in the same classification series in the bargaining unit. Classification series are set forth in Appendix G.
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Displacement Options. If an employee(s) is not assigned a position on the new or restructured department or unit, the employee(s) may apply for a vacant position pursuant to Section 5.8, or, if not the least senior employee and subject to the determination of qualifications as set forth in Section 6.2, the employee may displace the least senior employee in the classification in the bargaining unit or may displace the least senior employee in a lesser-paid classification in the same classification series in the bargaining unit. If the employee takes none of these options, the employee shall be subject to immediate layoff and placement on the reinstatement roster (6.3).
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Displacement Options. An employee subject to layoff may apply for a vacant position pursuant to Article 6.7 – Job Openings, or, if not the least senior employee, the employee may displace the least senior employee in the classification in the bargaining unit or may displace the least senior employee in a less paid classification in the bargaining unit, providing skill, competency and ability are considered substantially equal in the opinion of the Employer. If the employee takes none of these option, the employee shall be subject to immediate layoff and placement on the reinstatement roster (article 7.3 –recall)
Sample 1
Displacement Options. An employee who is subject to layoff may displace the least senior employee in that employee’s department provided that the employee subject to layoff can be trained for the job within six (6) weeks. If the employee cannot be trained for the job and/or the training is unsuccessful, the employee shall be laid off.
Sample 1
Displacement Options. If an employee(s) is not assigned a position on the new or restructured department or unit, the employee(s) may apply for a vacant position pursuant
Sample 1
Displacement Options. ‌ A displaced employee shall have the following options:
Sample 1
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Displacement Options. ‌ A displaced employee shall have the following options: Displaced employees shall be entitled to bid on any vacancies or new positions at the current worksite. The selection of the vacant position shall be in accordance with Clause 13.2 (Selection Criteria). Transfer to another worksite porting all seniority and related benefits to fill a vacancy that has not been filled by an employee at that worksite pursuant to Clause 15.1(b)(1) to (2) (Job Postings and Applications).
Sample 1

Related to Displacement Options

  • Options (a) Except as provided in paragraph (b) below with respect to the Company's 1996 Employee Stock Purchase Plan, as amended (the "Company ESPP"), at the Effective Time, each then outstanding and unexercised option (the "Company Options") exercisable for shares of Company Stock shall become fully vested and exercisable (by virtue of their terms) and Purchaser shall cause each holder of a Company Option to receive, by virtue of the Merger and without any action on the part of the holder thereof, options exercisable for shares of Purchaser Stock ("Purchaser Replacement Options") having the same terms and conditions as the Company Options (including such terms and conditions as may be incorporated by reference into the agreements evidencing the Company Options pursuant to the plans or arrangements pursuant to which such Company Options were granted) except that the exercise price and the number of shares issuable upon exercise shall be divided and multiplied, respectively, by the Conversion Fraction, and rounded to the nearest whole cent or number, respectively. Purchaser shall use all reasonable efforts to ensure that any Company Options that qualified as incentive stock options under Section 422 of the Internal Revenue Code of 1986, as amended (the "Code") prior to the Effective Time continue to so qualify after the Effective Time. Purchaser shall take all corporate action necessary to reserve for issuance a sufficient number of shares of Purchaser Stock for delivery upon the exercise of Purchaser Replacement Options after the Effective Time. Promptly after the Effective Time, Purchaser shall file or cause to be filed all registration statements on Form S-8 or other appropriate form as may be necessary in connection with the purchase and sale of Purchaser Stock contemplated by such Purchaser Replacement Options subsequent to the Effective Time, and shall maintain the effectiveness of such registration statements (and maintain the current status of the prospectus or prospectuses contained therein) for so long as any of the Purchaser Replacement Options registered thereunder remain outstanding. As soon as practicable after the Effective Time, Purchaser shall qualify under applicable state securities laws the issuance of such shares of Purchaser Stock issuable upon exercise of Purchaser Replacement Options. Purchaser's Board of Directors shall take all actions necessary on the part of Purchaser to enable the acquisition of Purchaser Stock, Purchaser Replacement Options and subsequent transactions in Purchaser Stock after the Effective Time pursuant to Purchaser Replacement Options by persons subject to the reporting requirements of Section 16(a) of the Securities Exchange Act (as defined below) to be exempt from the application of Section 16(b) of the Securities Exchange Act, to the extent permitted thereunder. (b) The current offerings in process as of the date of this Agreement under the Company ESPP shall continue, and Company Shares shall be issued to participants thereunder on the next currently scheduled purchase dates thereunder occurring after the date hereof as provided under, and subject to the terms and conditions of, the Company ESPP. The Company may, consistent with past practice, commence new offering periods under the Company ESPP on or after the date hereof and prior to the Effective Time at an exercise price for each such offering not less than as is required under the Company ESPP. Immediately prior to the Effective Time, pursuant to the Company ESPP, all offerings under the Company ESPP shall be terminated, and each participant shall be deemed to have purchased immediately prior to the Effective Time, to the extent of payroll deductions accumulated by such participant as of such offering period end, the number of whole shares of Company Stock at a per share price determined pursuant to the provisions of the Company ESPP, and each participant shall receive a cash payment equal to the balance, if any, of such accumulated payroll deductions remaining after such purchase of such shares. As of the Effective Time, each participant shall receive, by virtue of the Merger, the number of whole shares of Purchaser Stock or cash into which the shares of Company Stock such participant has so purchased under the Company ESPP have been converted pursuant to the Merger as provided in Section 1.3(a) hereof, plus the cash value of any fraction of a share of Purchaser Common Stock as provided in Section 1.5(h) hereof, plus any dividends or distributions as provided in Section 1.

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