General Authority of the Board. Size. The business, property and affairs of the Company shall be managed by a board of managers (the “Board”). The Board shall initially consist of six (6) designees, who shall initially be Xxxxx X. Xxxxxxxx, Xxxx X. Xxxxx, Xxxxxx X. Xxxxxxxxx, Xxxxxxx Xxxxxxx, Xxxxxx X. Xxxxxxx, and Xxxx X. Xxxxxxx (each a “Manager” and collectively, the “Managers”). Any Manager may be removed from the Board upon the written consent of the Requisite Members. Any vacancy on the Board shall be filled upon the vote or written consent of either the Requisite Members or the other Managers then serving on the Board. Subject to Section 5.3 and except as otherwise required by the Act, the Board shall have authority, power and discretion to manage and control the business, property and affairs of the Company, to make all decisions regarding those matters and to supervise, direct and control the actions of the Officers and to perform any and all other actions customary or incident to the management of the Company’s business, property and affairs. The Members shall have no power to participate in the management of the Company or to vote on any matter, except as specifically set forth in this Agreement, or as may be required under non-waivable provision of the Act. However, any individual Manager shall not be authorized to bind the Company to any agreement, contract, instrument or other document on behalf of the Company unless such Manager is a currently serving Officer of the Company.
General Authority of the Board. Any board of arbitration shall not have any authority to make any decision which is inconsistent with the terms of this Agreement, nor to add to or amend any of the terms of this Agreement. The jurisdiction of the arbitration board shall be strictly confined to dealing with the issue in dispute within the confines of the Agreement between the parties and the type of relief sought as outlined in the notice of intention to proceed to arbitration. The decision of the board of arbitra- tion shall be and binding upon the parties. The decision shall be unanimous or one reached by a majority of the members of the board; provided, however, that if there is no majority decision of the board, then the decision of the Chairman shall constitute the final and binding decision of the board. TIME LIMITS: DAYS EXCLUDED Saturdays, Sundays and holidays will not be counted in determining the time within which any action is to be taken or completed under the grievance or arbitration procedures. Time limits set forth in the grievance or arbitration proce- dures may be extended by mutual agreement in writing between the parties hereto. PROBATIONARY EMPLOYEES New employees will be considered as probationary employees until after they have worked for a total of ninety days for the Employer. During the probationary period, employees shall be entitled to all rights and privileges of this Agreement, except with respect to discharge. The Employer may discharge an employee at any time during the probationary period, with- out cause and at the sole discretion of the Employer. In the event an employee is discharged, the employee shall be entitled to submit a grievance under Article of the collective agreement. SENIORITY Seniority is defined as the length of service in the full-time bargaining unit or as defined in Articles or of the part-time bargaining unit collective agreement. An employee will be on probation and will not ac- quire seniority until after the employee has workedfor a total of ninety days in the bargaining unit. Seniority shall commence from the date of last hiring An employee shall lose all seniority if the employee voluntarily quits the employ of the Employer; is justifiably discharged; has been laid off for more than twelve consecutive months; and following a lay-off, fails to advise the Employer within five days of receipt of notification by registered mail to return to work of the employee’s intention so to return, or fails to report for work on the date and at the...
