Vacation Time After the Trial Period is complete, the Employee is entitled to days off per year of which is required to be mutually benefiting of the Employer and the Employee. It is required for the Employee to give notice before scheduling their vacation in accordance with Company policy.
Accumulation of Vacation Leave For each month of a fiscal year in which an employee receives ten (10) days pay, he shall earn vacation leave at the following rates:
Sale or Transfer of Assets; Suspension of Business Operations The Borrower will not sell, lease, assign, transfer or otherwise dispose of (i) the stock of any Subsidiary, (ii) all or a substantial part of its assets, or (iii) any Collateral or any interest therein (whether in one transaction or in a series of transactions) to any other Person other than the sale of Inventory in the ordinary course of business and will not liquidate, dissolve or suspend business operations. The Borrower will not transfer any part of its ownership interest in any Intellectual Property Rights and will not permit any agreement under which it has licensed Licensed Intellectual Property to lapse, except that the Borrower may transfer such rights or permit such agreements to lapse if it shall have reasonably determined that the applicable Intellectual Property Rights are no longer useful in its business. If the Borrower transfers any Intellectual Property Rights for value, the Borrower will pay over the proceeds to the Lender for application to the Obligations. The Borrower will not license any other Person to use any of the Borrower’s Intellectual Property Rights, except that the Borrower may grant licenses in the ordinary course of its business in connection with sales of Inventory or provision of services to its customers.
Consolidation, Merger or Sale or Transfer of Assets, Cash Flow or Earning Power (a) In the event that, following the Stock Acquisition Date, directly or indirectly, (x) the Company shall consolidate with, or merge with and into, any other Person (other than a Subsidiary of the Company in a transaction which complies with Section 11(o) hereof), and the Company shall not be the continuing or surviving corporation of such consolidation or merger, (y) any Person (other than a Subsidiary of the Company in a transaction which complies with Section 11(o) hereof) shall consolidate with, or merge with or into, the Company, and the Company shall be the continuing or surviving corporation of such consolidation or merger and, in connection with such consolidation or merger, all or part of the outstanding shares of Common Stock shall be changed into or exchanged for stock or other securities of any other Person or cash or any other property, or (z) the Company shall sell or otherwise transfer (or one or more of its Subsidiaries shall sell or otherwise transfer), in one transaction or a series of related transactions, assets, cash flow or earning power aggregating more than 50% of the assets, cash flow or earning power of the Company and its Subsidiaries (taken as a whole) to any Person or Persons (other than the Company or any Subsidiary of the Company in one or more transactions each of which complies with Section 11(o) hereof), then, and in each such case, proper provision shall be made so that: (i) each holder of a Right, except as provided in Section 7(e) hereof, shall thereafter have the right to receive, upon the exercise thereof at the then current Purchase Price in accordance with the terms of this Agreement, such number of validly authorized and issued, fully paid, non-assessable and freely tradeable shares of Common Stock of the Principal Party (as such term is hereinafter defined), not subject to any liens, encumbrances, rights of first refusal or other adverse claims, as shall be equal to the result obtained by (1) multiplying the then current Purchase Price by the number of one one-thousandths of a share of Preferred Stock for which a Right is exercisable immediately prior to the first occurrence of a Section 13 Event (or, if a Section 11(a)(ii) Event has occurred prior to the first occurrence of a Section 13 Event, multiplying the number of such one one-thousandths of a share for which a Right was exercisable immediately prior to the first occurrence of a Section 11(a)(ii) Event by the Purchase Price in effect immediately prior to such first occurrence of a Section 11(a)(ii) Event), and (2) dividing that product (which, following the first occurrence of a Section 13 Event, shall be referred to as the “Purchase Price” for each Right and for all purposes of this Agreement) by 50% of the Current Market Price (determined pursuant to Section 11(d)(i) hereof) per share of the Common Stock of such Principal Party on the date of consummation of such Section 13 Event; (ii) such Principal Party shall thereafter be liable for, and shall assume, by virtue of such Section 13 Event, all the obligations and duties of the Company pursuant to this Agreement; (iii) the term “Company” shall thereafter be deemed to refer to such Principal Party, it being specifically intended that the provisions of Section 11 hereof shall apply only to such Principal Party following the first occurrence of a Section 13 Event; (iv) such Principal Party shall take such steps (including, but not limited to, the reservation of a sufficient number of shares of its Common Stock) in connection with the consummation of any such transaction as may be necessary to assure that the provisions hereof shall thereafter be applicable, as nearly as reasonably may be, in relation to its shares of Common Stock thereafter deliverable upon the exercise of the Rights; and (v) the provisions of Section 11(a)(ii) hereof shall be of no effect following the first occurrence of any Section 13 Event.
Sick Leave Transfer The Board will honor written requests from a bargaining unit member to donate one or more sick leave days from the donor’s accumulated sick leave to a member under the following conditions:
1. The written request for donation of sick leave shall be forwarded to the Superintendent and the Association President who shall meet and confer if the request falls into the category of “catastrophic”. For purposes of this Section normal pregnancy shall not be considered a “catastrophic” illness. Any disagreement between the Association President and the Superintendent shall be resolved using expedited arbitration in accordance with the voluntary rules of the Federal Mediation Conciliation Services (FMCS). Expenses for the arbitrator’s services shall be equally shared by the parties.
a. Should the Association President and the Superintendent agree that the request falls in the category of “catastrophic”, they will forward the request to the Sick Leave Transfer Committee.
b. Should the Association President and the Superintendent agree that the request does not represent a catastrophic illness or injury, the request shall then be denied. The member will have the right to request expedited arbitration indicated in paragraph a. above.
2. Donated sick leave days may only be credited to a member who has, or is about to exhaust all of the members’ accumulated sick leave and personal leave due to a catastrophic illness or injury of the member or illness of child and/or spouse of the member.
3. Donated sick leave days may only be used for personal catastrophic illness/injury of the member, or illness of child and/or spouse of the member, and may not be used for the illness of other family members.
4. A sick leave donation form, authorizing the Treasurer to deduct donated sick leave days from the donor member’s accumulated sick leave and to credit the donated sick leave day(s) to the member will be sent to unit members for completion. Completed forms will be returned to the committee. The committee will provide the Treasurer with a form indicating the number of days to be transferred, from whom, and the name of the recipient.
5. Any request to donate sick leave days to a member must be submitted to the Treasurer not less than fifteen (15) days prior to any payroll that will include payment for the donated sick leave days.
6. Any member who has reached the maximum sick leave accumulation will have his accumulation reduced by the number of sick leave days donated.
7. Requests for sick leave days will be honored only as long as days are available from donors.
8. The following limitations will apply to this section:
a. No bargaining unit member who begins the school year with less than 45 days as of July 1 can donate sick days.
b. Donations from a bargaining unit member must be in units of one (1) day or more provided that the donor does not go under 45 days of accumulated sick leave.
c. Either the bargaining unit member or the member’s spouse and/or child must have the catastrophic illness or injury.
d. The bargaining unit member can use donated sick days until disability retirement is effective.
9. No member may use donated sick leave days to defer eligibility for disability retirement under STRS regulations, to claim severance pay, or to transfer to any other public employer.
10. No member may use more than thirty (30) donated sick leave days in total in any year. 18
Call Back From Vacation (a) Employees who have commenced their annual vacation shall not be called back to work, except in cases of extreme emergency.
(b) When, during any vacation period, an employee is recalled to duty, he/she shall be reimbursed for all expenses incurred thereby by himself/herself, in proceeding to his/her place of duty and in returning to the place from which he/she was recalled upon resumption of vacation, upon submission of receipts (except for meals) to the Employer.
(c) Time necessary for travel in returning to his/her place of duty and returning again to the place from which he/she was recalled shall not be counted against his/her remaining vacation entitlement.
Accumulation of Vacation Leave Credits An employee shall earn vacation leave credits for each calendar month during which the employee receives pay for at least ten (10) days at the following rate:
Cancellation of Vacation Leave When the Employer cancels or alters a period of vacation leave which it has previously approved in writing, the Employer shall reimburse the employee for the non-returnable portion of vacation contracts and reservations made by the employee in respect of that period, subject to the presentation of such documentation as the Employer may require. The employee must make every reasonable attempt to mitigate any losses incurred and will provide proof of such action, when available, to the Employer.
Recall from Vacation Leave When during any period of vacation leave an employee is recalled to duty, he shall be reimbursed for reasonable expenses, as normally defined by the Employer, that he incurs:
Callback from Vacation
(a) Employees who have commenced their annual vacation shall not be called back to work, except in cases of extreme emergency.
(b) When, during any vacation period, an employee is recalled to duty, he/she shall be reimbursed for all reasonable expenses incurred by himself/herself, in proceeding to his/her place of duty and in returning to the place from which he/she was recalled upon resumption of vacation, upon submission of receipts to the Employer.
(c) Time necessary for travel in returning to his/her place of duty and returning again to the place from which he/she was recalled shall not be counted against his/her remaining vacation time.
