Employment Options Clause Samples
Employment Options. Should the College foresee the need to retrench faculty positions, the following options shall be available to the faculty members identified for separation and who, in the determination of the College, can acquire in the allowable time the additional education necessary to meet the credentialing requirements for identified and available teaching positions.
1. In those areas where identified teaching positions are vacant and available, the College shall provide the assistance specified in Section 12.04.A.1.c. and d. to help the faculty member acquire the additional education necessary to meet the credentialing requirements for such a position. The period covered by this assistance shall be referred to hereafter as the retraining period.
a. If approved, the program of additional education must be completed within twenty four (24) months of its mutually agreed upon starting date, at the end of which time the faculty member must be fully qualified by the Southern Association of Colleges and Schools Commission on Colleges (SACSCOC) and College credentialing requirements to teach in the new area.
b. The program of study must meet the College’s program needs and be approved in advance by the Vice President of Academic and Student Affairs of the College. Placement of the faculty member in the vacant teaching position shall be contingent upon successful completion of the program.
c. During the retraining period, the College shall offer the faculty member up to a 164-day contract year of professional leave of absence with full salary and benefits to enroll full-time in the approved program of study. The College shall offer the faculty member up to another 164-day contract year of unpaid professional leave to continue full-time enrollment in courses required in the approved program of study. The College shall continue to pay a portion or all of the faculty member’s health insurance premiums during the second year of full-time enrollment defined above. The determination of the length of paid leave, unpaid leave, or paid health insurance premiums offered is at the sole discretion of the College.
d. If the College determines funds are available, the College shall reimburse the faculty member for the instructional fees of the education program, provided all state and College policies regarding the use of such funds are satisfied. Faculty pursuing an approved retraining program shall be given preference for Staff Professional Development funds.
e. Upon successful complet...
Employment Options. Upon becoming eligible for retirement, faculty may continue to work full-time; fully retire or choose partial retirement. Written notice shall be submitted to the Academic ▇▇▇▇ no later than October 1st of the academic year preceding the year in which the retirement will begin. When notice of partial retirement is given, the faculty member must specify the number of courses s/he will teach.
Employment Options. The Employee shall be granted employment options. Each option shall expire on December 31, 2005. Each option, upon exercise, shall require the option holder to pay to MB a price equivalent to the original price of each share of common stock issued by MB at the time of its formation. It is anticipated that the price will be $14.00 per share, therefore, $14.00 per option. Options shall be granted to the Employee in accordance with the following schedule: March 17, 1998 20,000 March 17, 1999 5,000 March 17, 2000 5,000 The total number of options issued in accordance with this provision shall equal 30,000. All options shall be vested in the Employee on the date that said options are granted. All options allocated in the aforementioned schedule shall issue to the Employee in the event of termination of employment, without cause.
Employment Options a. The name of a laid off Bargaining Unit Member shall be placed on the layoff list for the appropriate job classification for sixteen (16) months. When a position becomes available, the position shall be offered to all persons on the layoff list within that job classification individually, beginning with the most senior and working to the least senior. The position shall be considered filled when the most senior available Bargaining Unit Member accepts the position. Refusal of such an offer shall constitute resignation in good standing from the classified service, or, if such refusal is made by a Bargaining Unit Member currently employed in another capacity in the classified service, shall cancel all layoff rights to the class from which laid off.
b. No loss of earned leave or other earned benefits shall occur and no additional benefits shall accrue during the period the Bargaining Unit Member is on the layoff list and not otherwise employed by the District.
Employment Options. Employee shall continue vesting options granted under a 1998 Option Agreement.
Employment Options. The Company shall grant to the Executive stock options (the “Employment Options”), pursuant to the Company’s 2005 Stock Option Plan, to purchase that number of shares of common stock of the Company, par value $0.001 per share (the “Common Stock”) representing two percent (2%) of the outstanding shares of Common Stock of the Company on a Fully Diluted Basis (as defined below in Section 5(e)(iii)C) immediately following the Effective Date. The Employment Options shall vest and become exercisable in two (2) equal installments on the day before each anniversary of this Agreement at an exercise price equal to Two Dollars ($2.00) per share (the “Exercise Price”).
Employment Options. Employee will earn up to 150,000 employment options, granted under the P▇▇▇▇▇▇▇▇.▇▇▇ Employee Stock Option Plan. The options will be priced at the closing price of the stock March 31, 2000.
Employment Options. Employee will continue to accrue employment options granted under a 1998 Stock Option Agreement, whereby the Employee will vest up to 750,000 options by July 2002.
Employment Options. A. As early as possible, but no later than ten (10) days following the 3rd Friday in May, the Board of Education must be notified that the employee is seeking other employment. After the date described in the previous sentence the Board has the option to accept an employee’s resignation pending a suitable replacement is available.
B. Availability of Positions Within U.S.D #389
1. Position openings will be posted in all district buildings prior to being made public.
Employment Options. The Company shall grant to the Executive stock options pursuant to the Company’s 2005 Stock Option Plan (the “Employment Options”) immediately after the closing of the next round of financing to purchase that number of shares representing one percent (1%) of the outstanding common stock of the Company, par value $0.001 per share (the “Common Stock”), on a fully diluted basis as of the grant date. The Employment Options shall vest and become exercisable in three (3) equal installments on the day before each anniversary of this Agreement at an exercise price equal to Fair Market Value (as determined the Company’s 2005 Stock Plan) (the “Exercise Price”) of a share of common stock on the date of grant.