EQUITY CLAUSE Clause Samples
An Equity Clause establishes the terms under which equity, such as shares or ownership interests, is granted, allocated, or managed within an agreement. Typically, this clause outlines who is entitled to receive equity, the conditions for vesting or transfer, and any restrictions on sale or dilution of ownership. By clearly defining the rights and obligations related to equity, the clause ensures transparency and helps prevent disputes over ownership stakes, thereby protecting the interests of all parties involved.
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EQUITY CLAUSE. If during the term of the Contract one of the parties considers itself no longer able to continue performance of the same, solely for reasons beyond its control having the effect of causing it to suffer costs that should not in conscience be imposed upon it, the party concerned shall notify the other by certitied letter with acknowledgment of receipt, and both parties shall confer for the purpose of adopting appropriate measures in the circumstances in their mutual interest. If after two months from the date of receipt of the abovementioned letter, the Parties fail to agree on the steps to be taken, the Contract may lawfully be repudiated with no compensation payable at either party's demand at one month's notice by certified letter with acknowledgment of receipt.
EQUITY CLAUSE. Should the District provide a compensation package (salary and health benefits) to any other employee group during the term of this agreement that exceeds the compensation package (salary and health benefits increase plus the cost of Step 7 - $1.179 million or 2.39%) provided to CSEA the District shall meet with CESA to determine distribution of the difference to unit members. Such agreement shall be in writing.
EQUITY CLAUSE. Should any other bargaining unit receive increases of total compensation greater than that mentioned above in item 11.7, the difference between the amount received by CSEA and that amount shall be available for classified employee compensation.
EQUITY CLAUSE. In the event of unexpected, heavy changes in exploitation costs, or important disruption of the general economy, or any duty or tax not already included, the parties to this Contract will meet to discuss the necessity of modifying part or all of the conditions of this Contract. *** Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.
EQUITY CLAUSE. 28.1 In entering this Agreement, GPTL and GSLrecognise that it is impractical to make provision for every contingency which may arise during the term of this Agreement. GPTL and GSL desire that this Agreement shall operate between them with fairness, and if, in the course of its performance, an infringement of this principle is anticipated or disclosed, then GPTL and GSL shall promptly consult each other in good faith in an endeavour to agree upon such actions as may be necessary to remove the cause or causes of such infringement.
EQUITY CLAUSE. If during the 2021/2022 school year any other bargaining unit or employee group within the District receives an across the board on schedule salary increase, the bargaining unit shall be entitled to a commensurate amount of compensation. In such an event, the Association and the District shall enter into negotiations to determine the manner in which to compensate the bargaining unit no later than February 2022. In the event that the parties bargain the minimum wage increase pursuant to provision 9.1.2 of this agreement this equity clause (9.4) is null and void.
EQUITY CLAUSE. A. If any other bargaining unit, the Non-Represented Management employee group or the Confidentials Unit receives enhanced health and welfare benefits, AASD will receive the same enhanced benefit.
B. If any other bargaining unit, the Non-Represented Management employee group or the Confidentials Unit receives an across-the-board on-schedule base salary increase or a new across-the-board off-schedule bonus, AASD will receive the same increase or bonus. This obligation will not be triggered by:
1. Increases on enhancement to any other bargaining unit, the Non-Represented Management employee group or Confidentials, that will be paid for with resources currently allocated to that unit or group.
2. Increases or enhancements given to any employee group as a result of grievance or other wage-related settlement agreements.
3. Compensation or benefits provided to non-AASD employees or employee groups which are already extended to the AASD bargaining unit(s) under an existing collective bargaining agreement.
C. In addition to the rights afforded in Section A-B: in the event that the District receives or identifies additional new State or Federal funds, which are noncategorical, unrestricted, not based on ADA growth, not from proceeds of the lottery, and do not represent reimbursement of expenditures made by the District, AASD shall have the right to a meeting with the District to discuss the allocation of these funds to various budget categories.
D. In addition to the rights afforded in Section A-B, in the event that the District through its budget process identifies any additional funds; Average Daily Attendance (ADA) growth, unidentified revenue, revenue, categorical, noncategorical, restricted, unrestricted funds, reserves, Cost of Living Adjustment (COLA), AASD shall have the right to a meeting with the District to discuss the allocation of these funds to the various budget categories.
EQUITY CLAUSE. A. If any other bargaining unit or employee group within the District receives an increase in salary or receives another form of compensation using resources not previously allocated to that unit or group in settlement of negotiations, the bargaining unit shall be entitled to a commensurate prorata amount of compensation. In such an event, the Association and the District shall enter into negotiations to determine the manner in which to compensate the bargaining unit. Should any other bargaining unit or employee group within the District agree to or receive any wage formula which results in increased compensation, the bargaining unit shall be entitled to the same provision(s).
B. In the event that the District receives additional new State funds, which are non-categorical, nonrestrictive, not based on ADA growth, not from proceeds of the lottery, and do not represent reimbursement of expenditures made by the District, the Association shall have the right to meet and determine the allocation of these funds to the various budget categories, including unit member salaries.
C. In the event that San Diego Unified School District through its budget process identifies any additional funds; Average Daily Attendance (ADA) growth, unidentified revenue, revenue, categorical, non-categorical, restrictive, nonrestrictive funds, reserves, Revenue Limit Equalization Aid/or Revenue Limit Deficit Reduction, Revenue Limit –funded Cost of Living Adjustment (COLA), the Association and the District shall enter into negotiations to determine the manner in which to compensate the bargaining unit.
D. Provisions B and C of this section are only subject to an obligation to bargain under Educational Employment Relations Act. The Parties acknowledge the District intends to negotiate changes to this section in the successor agreement.
EQUITY CLAUSE. During the term of this agreement, the following Equity Clause provisions will apply:
A. If any other bargaining unit, the Non-Represented Management employee group, or the Confidentials Unit receives enhanced health and welfare benefits, SDSPOA will receive the same enhanced benefit.
B. If any other bargaining unit, the Non-Represented Management employee group, or the Confidentials Unit receives across-the-board on-schedule base salary increase or a new across-the-board off-schedule bonus, SDSPOA will receive the same increase or bonus. This obligation will not be triggered by:
1. Increases or enhancements to any other bargaining unit, the Non-Represented Management employee group, or the Confidentials Unit, that will be paid for with resources currently allocated to that unit.
2. Increases or enhancements given to any employee group as a result of grievance or other wage-related settlement agreements.
3. Compensation or benefits provided to non-SDSPOA employees or employee groups which are already extended to the SDSPOA bargaining unit under an existing collective bargaining agreement.
EQUITY CLAUSE. The District may establish the pay rate for a new employee with relative experience; however, no new hire will start at a higher wage in that grade than a current employee with the same number of years of service/experience.