HOURLY EMPLOYEE FLOWBACK Clause Samples

HOURLY EMPLOYEE FLOWBACK. (a) It is anticipated that the Parties will enter into Memoranda of Understandings (MOUs) with the union representatives of hourly employees. The parties will abide by the terms of the MOUs. To the extent the MOUs differ from the terms set forth in this Employee Matters Agreement the Parties will arrange to "true up" the financial arrangements to reflect the original capital structure. Such true up is generally covered in Exhibit 1. One of the items the MOUs are expected to address is hourly Flowback. In the event of hourly Flowback, the following financial arrangements will apply unless otherwise designated by the terms of the applicable MOU or otherwise agreed by the parties:
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Related to HOURLY EMPLOYEE FLOWBACK

  • Salaried Employees A. Employees in this unit shall be treated as salaried employees, in accordance with the provisions of the Fair Labor Standards Act. Notwithstanding any Los Angeles Administrative Code and MOU provisions, or other Airport Department rules and regulations to the contrary, these employees shall not be required to record specific hours of work for compensation purposes, although hours may be recorded for other purposes. These employees will be paid the predetermined salary for each biweekly period, as indicated in Appendices A through D, and shall not receive overtime compensation. The appointing authority may grant time off for hours worked due to unusual situations. B. These employees shall not be subject to any deductions from salary or any leave banks for any absence from work less than a full work day. This provision applies to occasional partial day absences from work, which is authorized by the appropriate supervisor in accordance with LAWA policy. This provision does not apply to longterm or recurring partial day absences that are authorized by the appropriate supervisor designated by management (e.g. intermittent leave/reduced work schedule for purposes of Family/Medical Leave). C. These employees shall not be subject to disciplinary suspension for less than a workweek. This requirement shall be superceded by the revised Department of Labor FLSA regulations, which took effect on August 23, 2004, pertaining to disciplinary suspensions of FLSA exempt employees. Salaried employees in this unit shall not be subject to disciplinary suspension for a period less than a workweek (seven days; half of the biweekly pay) unless the discipline is based on violations of a safety rule of major significance or misconduct.

  • Incentive, Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs applicable generally to other peer executives of the Company and its affiliated companies, but in no event shall such plans, practices, policies and programs provide the Executive with incentive opportunities (measured with respect to both regular and special incentive opportunities, to the extent, if any, that such distinction is applicable), savings opportunities and retirement benefit opportunities, in each case, less favorable, in the aggregate, than the most favorable of those provided by the Company and its affiliated companies for the Executive under such plans, practices, policies and programs as in effect at any time during the 120-day period immediately preceding the Effective Date or if more favorable to the Executive, those provided generally at any time after the Effective Date to other peer executives of the Company and its affiliated companies.

  • Public Employees Retirement System “PERS”) Members.

  • REGISTERED RETIREMENT SAVINGS PLAN 1. In this Article:

  • Retirement Savings Plan Within fifteen (15) days after the date of Termination of Employment, the Company shall pay to Employee a cash payment in an amount, if any, necessary to compensate Employee for the Employee’s unvested interests under the Company’s retirement savings plan which are forfeited by Employee in connection with the Termination of Employment.