Half-pay option Sample Clauses

Half-pay option. The payment of any paid parental leave may be spread over a maximum period of 36 weeks at the rate of, no less than, half the normal rate of salary. All paid parental leave counts as service for all purposes, where permitted by legislation.
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Half-pay option. The payment of any paid parental leave may be spread over a maximum period of 36 weeks at the rate of, no less than, half the normal rate of salary. All paid parental leave counts as service for all purposes, where permitted by legislation. An employee who is a primary caregiver or secondary caregiver is entitled to parental leave in accordance with this Agreement for adoption or long-term ▇▇▇▇▇▇ care, provided that the child: is under 16 as at the day (or expected day) of placement; has not lived continuously with the employee for a period of six months or more as at the day (or expected day) of placement; is not (otherwise than because of the adoption) a child of the employee or the employee’s spouse or de facto partner. Documentary evidence of approval for adoption or enduring parental responsibilities under formal fostering arrangements must be submitted when applying for parental leave for adoption or long-term ▇▇▇▇▇▇ carer purposes. An employee is eligible for 2 days of unpaid pre-adoption leave to attend any interviews or examinations required for the adoption of a child. The employee may also take annual leave or purchased leave for this purpose.
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Half-pay option. Employees may choose to take Annual Leave at half pay in which case accrued leave will be deducted at half the rate for the period of absence.
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Half-pay option. Paid Parental leave available under paragraph F5.3 may be spread over a period of up to eight weeks at a rate of half the normal salary and counts as service. F6 Adoption or Fostering leave Adoption or Fostering leave is available for an employee who is absent due to their primary care giving responsibilities associated with adoption or long-term fostering of a child. Further informationAdoption and Fostering leave  Supervisors toolkit – Adoption and fostering leave F6.1 An employee who is to be the primary caregiver to an adopted child is to be granted Adoption leave of up to 14 weeks on production of documentary evidence of the adoption of the child. To be eligible for Adoption leave, the adopted child must not be a child or stepchild of the employee or the employee’s partner, unless that child had not been in the custody and care of the employee or the employee’s partner for a significant period. F6.2 Adoption leave must commence within six months of the date of adoption of the child and should be taken in a single leave block, except for two days which may be taken as pre- Adoption leave. Leave is with pay for employees with a period of 12 months service. Eligible service for this paid leave is equivalent to that applying to employees’ eligibility for paid leave under the ML Act. Adoption leave, either with or without pay, granted under paragraph F6.1 of up to 14 weeks counts as service. F6.3 An eligible employee, who is to be the primary caregiver to a fostered child can use leave under paragraphs F6.1 and F6.2 to fulfil long-term fostering obligations. To be eligible for this purpose, employees are to have assumed long-term responsibility for a child under a permanent care order or permanent fostering arrangement following placement: a. by a person/organisation with statutory responsibility for the placement of the child; and b. where the child is not expected to return to their family. F6.4 For the purposes of paragraph F6.3, Adoption leave granted for fostering purposes is to commence within six months of the placement of the child and should be taken in a single leave block. Where a fostered child is subsequently adopted by the employee, and the employee has been granted 14 weeks of paid leave for fostering of that child, the employee is not eligible for additional leave under paragraph F6.1.
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Half-pay option. 130.1 Employees who are absent for ten or more continuous working days because of personal illness or injury may elect to take Personal Leave at half pay. Personal Leave at half pay may also be approved by the Australian Statistician for absences of one day or more in exceptional circumstances. Where an employee takes Personal Leave at half pay, Personal Leave credits will be deducted at half the rate for the period of absence.
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Half-pay option. The payment of any paid parental leave may be spread over a maximum period of 36 weeks at the rate of, no less than, half the normal rate of salary. All paid parental leave counts as service for all purposes, where permitted by legislation. 258. An employee who is a primary caregiver or secondary caregiver is entitled to parental leave in accordance with this agreement for adoption or long-term ▇▇▇▇▇▇ care, provided that the child: 258.1 is under 16 as at the day (or expected day) of placement; 258.2 has not lived continuously with the employee for a period of six months or more as at the day (or expected day) of placement; and 258.3 is not (otherwise than because of the adoption) a child of the employee or the employee’s spouse or de facto partner.
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Half-pay option. The payment of paid maternity leave may be spread over a period of up to 28 weeks at a rate of half normal salary. Officers utilising this option must take the entire period of leave at half pay. Any paid maternity leave beyond the first 14 weeks does not count as service for any purpose. This administrative arrangement does not extend the total period of paid or unpaid maternity leave available under the Maternity Leave (Commonwealth Employees) Act 1973.
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Half-pay option. 149.1 Employees who are absent for ten or more continuous working days because of personal illness or injury may elect to convert Personal Leave to half pay.
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Related to Half-pay option

  • Top-Up Option (a) The Company hereby grants to Sub an irrevocable option (the “Top-Up Option”), exercisable only on the terms and conditions set forth in this Section 1.10, to purchase at a price per share equal to the greater of (i) the last reported sale price of a Share on The Nasdaq Stock Market on the last trading day prior to the date on which the Top-Up Option is exercised or (ii) the Closing Amount, newly issued Shares (the “Top-Up Shares”) so that, when added to the number of Shares owned by Sub prior to the exercise of the Top-Up Option, Sub will own at least ninety percent (90%) of the Shares outstanding immediately after the issuance of the Top-Up Shares (not including in the Shares owned by Sub any Shares tendered pursuant to unfulfilled guaranteed delivery procedures); provided, however, that (i) the Top-Up Option shall not be exercisable for a number of Shares in excess of the Shares authorized and unissued at the time of exercise of the Top-Up Option and (ii) the Top-Up Option may not be exercised unless, following the Acceptance Time or after a subsequent offering period, seventy percent (70%) or more of the Shares shall be owned by Sub. The Top-Up Option shall be exercisable once at any time following the Acceptance Time and prior to the earlier to occur of (A) the Effective Time and (B) the termination of this Agreement in accordance with its terms. Sub may assign the Top-Up Option and its rights and obligations pursuant to this Section 1.10, in its sole discretion, to Parent. (b) The parties shall cooperate to ensure that the issuance and delivery of the Top-Up Shares complies with all applicable Laws, including compliance with an applicable exemption from registration under the Securities Act. If Sub wishes to exercise the Top-Up Option, Sub shall give the Company written notice, specifying (i) the number of Shares owned by Sub, (ii) a place and a time for the closing of such purchase and (iii) the manner in which Sub intends to pay the applicable purchase price. The Company shall, as soon as practicable following receipt of such notice, deliver written notice to Sub specifying, based on the information provided by Sub in its notice, the number of Top-Up Shares. Prior to the closing of the purchase of the Top-Up Shares, upon Sub’s request, the Company shall use its reasonable best efforts to cause its transfer agent to certify in writing to Sub the number of Shares issued and outstanding (A) as of immediately prior to the exercise of the Top-Up Option and (B) after giving effect to the issuance of the Top-Up Shares. (c) The aggregate purchase price payable for the Top-Up Shares may be paid, at Sub’s option, (i) in cash, (ii) by executing and delivering to the Company a promissory note having a principal amount equal to the balance of the remaining aggregate purchase price, or (iii) a combination thereof, provided that Sub shall use cash for at least the aggregate par value of the Top-Up Shares. The Company Board has approved such consideration for the Top-Up Shares. Any such promissory note shall include the following terms: (1) the maturity date shall be one (1) year after issuance, (2) the unpaid principal amount of the promissory note shall accrue simple interest at a per annum rate of 3.00% and (3) the promissory note may be prepaid in whole or in part at any time, without penalty or prior notice. (d) Parent and Sub acknowledge that the Shares that Sub may acquire upon exercise of the Top-Up Option shall not be registered under the Securities Act and shall be issued in reliance upon an exemption for transactions not involving a public offering. Sub agrees that the Top-Up Option, and the Top-Up Shares to be acquired upon exercise of the Top-Up Option, if any, are being and shall be acquired by Sub for the purpose of investment and not with a view to, or for resale in connection with, any distribution thereof (within the meaning of the Securities Act). (e) The obligation of the Company to deliver Top-Up Shares upon the exercise of the Top-Up Option is subject to the conditions that (i) no provision of any applicable Law and no judgment, injunction, order or decree shall prohibit the exercise of the Top-Up Option or the delivery of the Top-Up Shares in respect of such exercise, (ii) due to the exercise of the Top-Up Option, the number of Shares owned by Parent, Sub and their Affiliates will constitute more than ninety percent (90%) of the number of Shares that will be outstanding on a fully-diluted basis immediately after the issuance of the Top-Up Shares, and (iii) Sub has accepted for payment all Shares validly tendered in the Offer and not withdrawn.

  • Nonstatutory Stock Option If the Grant Notice so designates, this Option is intended to be a Nonstatutory Stock Option and shall not be treated as an Incentive Stock Option within the meaning of Section 422(b) of the Code.

  • Our Option If we give you written notice within 30 days after we receive your signed, sworn proof of loss, we may repair or replace any part of the damaged property with material or property of like kind and quality.

  • Accelerated Vesting of Equity Awards One hundred percent (100%) of Executive’s then-outstanding and unvested Equity Awards will become vested in full. If, however, an outstanding Equity Award is to vest and/or the amount of the award to vest is to be determined based on the achievement of performance criteria, then the Equity Award will vest as to one hundred percent (100%) of the amount of the Equity Award assuming the performance criteria had been achieved at target levels for the relevant performance period(s).

  • Stock Option The Corporation hereby grants to the Optionee the option (the "Stock Option") to purchase that number of shares of Class A Common Stock of the Corporation, par value $.01 per share, set forth on Schedule A. The Corporation will issue these shares as fully paid and nonassessable shares upon the Optionee's exercise of the Stock Option. The Optionee may exercise the Stock Option in accordance with this Agreement any time prior to the tenth anniversary of the date of grant of the Stock Option evidenced by this Agreement, unless earlier terminated according to the terms of this Agreement. Schedule A sets forth the date or dates after which the Optionee may exercise all or part of the Stock Option, subject to the provisions of the Plan.