Layoff Provision Clause Samples

A Layoff Provision is a contractual clause that outlines the conditions and procedures under which an employer may temporarily suspend or permanently terminate employees due to business needs, such as economic downturns or restructuring. This provision typically specifies notice requirements, severance pay, and the rights of affected employees, and may detail the order in which layoffs are conducted, such as by seniority or job function. Its core practical function is to provide a clear framework for both employers and employees during workforce reductions, minimizing disputes and ensuring compliance with legal and contractual obligations.
Layoff Provision. The City shall be required to provide the Union President a minimum of thirty (30) calendar days written notification of any layoffs in the bargaining unit, and a minimum of ten
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Layoff Provision. No unit member will be laid off for fiscal reasons during the contract year if all the following conditions exist: 1) District revenues (Basic Allocation, COLA, and Growth provisions) for the contract year are maintained at the amount received in the prior year; 2) categorical funding remains at the same level for the contract year as the prior year; and 3) there are no operational deficits in the contract year for auxiliary services.
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Layoff Provision a. City agrees to forego the layoff and/or furlough of any permanent full-time personnel during the term of this Side Letter Agreement.
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Layoff Provision. An employee who elects layoff status shall be entitled to bid on vacancies and new positions and shall be subject to recall for a period of two (2) years from the date of displacement from employment. Employees shall draw lots at the time of layoff to determine the order of recall among those with the same seniority. An employee who is laid off shall leave his address on a card provided for the purpose by the Company. It shall be the employee’s responsibility to keep the Company advised of any change of address. During the two (2) year period following the date of displacement from employment, an employee shall receive at the address set forth on the address card, notices posted by the Company for vacancies and new positions as set forth in Section 2 of this Article. If a laid off employee wishes to be considered for a vacant or new position, he shall apply in the same manner and shall be given consideration as set forth in Section 2 and 2a of this Article. If a laid off employee is accepted for a position, he must commence work within two (2) calendar weeks after being advised of his acceptance for a position. The Company may recall to work laid off employees within the two (2) year period by sending a certified letter to the address on the employee’s address card. Employees recalled to work shall report to work at the time specified by the Company, or notify the Company within five (5) calendar days prior to the time directed to report, of their inability to do so. Employees who fail to report as directed or who fail to notify the Company of their inability to report shall be considered as having resigned. Upon return to work, an employee shall return with the same seniority he held at the time of displacement of employment. Employees shall not accrue seniority during the period of layoff. Medical, life insurance and pension benefits shall be applied to a recalled employee in accordance with the terms of the then current medical, life insurance and pension benefit plans and policies.
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Layoff Provision. A. Staff Reductions Whenever it is necessary to decrease the size of the administrative staff, or to effect a reorganization due to insufficient funds, substantial decrease of student population, natural disaster, or other reasons beyond the control of the College, the necessary number of administrators may be laid-off without pay. Before layoffs are implemented the Association shall be given an opportunity to meet with the President to discuss and make recommendations regarding criteria and possible alternatives.
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Related to Layoff Provision

  • Call Provision Subject to the provisions of Section 2(e), Section 2(f) and this Section 2(g), if, after the Effective Date, (i) the VWAP for each of 10 consecutive Trading Days (the “Measurement Period,” which 10 consecutive Trading Day period shall not have commenced until after the Effective Date) exceeds $10.00 (subject to adjustment for forward and reverse stock splits, recapitalizations, stock dividends and the like after the Initial Exercise Date), (ii) the average daily volume for such Measurement Period exceeds $100,000 per Trading Day and (iii) the Holder is not in possession of any information that constitutes, or might constitute, material non-public information which was provided by the Company, any of its Subsidiaries, or any of their officers, directors, employees, agents or Affiliates, then the Company may, within 1 Trading Day of the end of such Measurement Period, call for cancellation of all or any portion of this Warrant for which a Notice of Exercise has not yet been delivered (such right, a “Call”) for consideration equal to $.01 per Warrant Share. To exercise this right, the Company must deliver to the Holder an irrevocable written notice (a “Call Notice”), indicating therein the portion of unexercised portion of this Warrant to which such notice applies. If the conditions set forth below for such Call are satisfied from the period from the date of the Call Notice through and including the Call Date (as defined below), then any portion of this Warrant subject to such Call Notice for which a Notice of Exercise shall not have been received by the Call Date will be cancelled at 6:30 p.m. (New York City time) on the tenth Trading Day after the date the Call Notice is received by the Holder (such date and time, the “Call Date”). Any unexercised portion of this Warrant to which the Call Notice does not pertain will be unaffected by such Call Notice. In furtherance thereof, the Company covenants and agrees that it will honor all Notices of Exercise with respect to Warrant Shares subject to a Call Notice that are tendered through 6:30 p.m. (New York City time) on the Call Date. The parties agree that any Notice of Exercise delivered following a Call Notice which calls less than all the Warrants shall first reduce to zero the number of Warrant Shares subject to such Call Notice prior to reducing the remaining Warrant Shares available for purchase under this Warrant. For example, if (A) this Warrant then permits the Holder to acquire 100 Warrant Shares, (B) a Call Notice pertains to 75 Warrant Shares, and (C) prior to 6:30 p.m. (New York City time) on the Call Date the Holder tenders a Notice of Exercise in respect of 50 Warrant Shares, then (x) on the Call Date the right under this Warrant to acquire 25 Warrant Shares will be automatically cancelled, (y) the Company, in the time and manner required under this Warrant, will have issued and delivered to the Holder 50 Warrant Shares in respect of the exercises following receipt of the Call Notice, and (z) the Holder may, until the Termination Date, exercise this Warrant for 25 Warrant Shares (subject to adjustment as herein provided and subject to subsequent Call Notices). Subject again to the provisions of this Section 2(g), the Company may deliver subsequent Call Notices for any portion of this Warrant for which the Holder shall not have delivered a Notice of Exercise. Notwithstanding anything to the contrary set forth in this Warrant, the Company may not deliver a Call Notice or require the cancellation of this Warrant (and any such Call Notice shall be void), unless, from the beginning of the Measurement Period through the Call Date, (1) the Company shall have honored in accordance with the terms of this Warrant all Notices of Exercise delivered by 6:30 p.m. (New York City time) on the Call Date, and (2) the Registration Statement shall be effective as to all Warrant Shares and the prospectus thereunder available for use by the Holder for the resale of all such Warrant Shares, and (3) the Common Stock shall be listed or quoted for trading on the Trading Market, and (4) there is a sufficient number of authorized shares of Common Stock for issuance of all Securities under the Transaction Documents, and (5) the issuance of the shares shall not cause a breach of any provision of Section 2(e) or Section 2(f) herein. The Company’s right to call the Warrants under this Section 2(g) shall be exercised ratably among the Holders based on each Holder’s initial purchase of Warrants.

  • SAVINGS PROVISION If any provisions of this Agreement are held to be contrary to law by a court of competent jurisdiction, such provisions will not be deemed valid and subsisting except to the extent permitted by law, but all other provisions will continue in full force and effect.

  • Saving Provision The parties hereto agree that, in the event a court of competent jurisdiction shall determine that the geographical or durational elements of this covenant are unenforceable, such determination shall not render the entire covenant unenforceable. Rather, the excessive aspects of the covenant shall be reduced to the threshold which is enforceable, and the remaining aspects shall not be affected thereby.

  • Continuing Effect; No Other Amendments Except as expressly amended or waived hereby, all of the terms and provisions of the Credit Agreement and the other Loan Documents are and shall remain in full force and effect. The amendments and waivers contained herein shall not constitute an amendment or waiver of any other provision of the Credit Agreement or the other Loan Documents or for any purpose except as expressly set forth herein.

  • Service Provision Subject to, and in accordance with, the terms and conditions in this Agreement, the Operator will provide the Services (either directly or by making its facilities and services available to other Physicians) to: (a) those Clients of Physicians who arrange for use of the Facility for the purposes of providing surgical services to such Clients, or (b) in cases only where referral by a Physician is not required, those Clients who present themselves directly to the Operator and who request the Services, provided that in each instance, the provision of the Services requested is both clinically and ethically appropriate, constitutes the provision of a service which is Insured to a person eligible to receive those Services and is provided during the Term.