Medium Leaver Sample Clauses

Medium Leaver. If an Executive’s Termination is the result of the Executive’s voluntary resignation without Good Reason, then on or after the Executive’s Termination Date, the Company or the Xxxx Investors, as applicable, may purchase all or any portion of the Incentive Securities which are Vested Securities at Fair Market Value and the entire portion of the Incentive Securities which are Unvested Securities at the lower of their Fair Market Value and their Original Cost in accordance with the procedures set forth below.
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Medium Leaver. If an Executive’s Termination is the result of the Executive’s voluntary resignation without Good Reason, then on or after the Executive’s Termination Date, the Company or the Xxxx Investors, as applicable, may purchase (a) all or any portion of the Incentive Securities which are Vested Securities at Fair Market Value (provided, that, if Executive provides the Company with less than one years’ notice prior to Executive’s intended effective date of his voluntary resignation without Good Reason, then, notwithstanding the foregoing, on or after the Executive’s Termination Date, the Company or the Xxxx Investors, as applicable, may purchase all or any portion of the Incentive Securities which are both New Securities and Vested Securities at the lower of their Fair Market Value and their Original Cost and the portion (if any) of the balance of the Catch up Amount attributable to the Executive’s vested New Securities (and any vested Incentive Securities of any Permitted Transferee thereof) shall be forfeited and retained by the Company) and (b) the entire portion of the Incentive Securities which are Unvested Securities at the lower of their Fair Market Value and their Original Cost, in each case in accordance with the procedures set forth below; provided, that, in the case of this Section 9(b)(ii), the Company’s election to accelerate the Executive’s Termination Date shall not be considered a Termination by the Company without Cause or constitute Good Reason hereunder and, accordingly, shall not entitle the Executive Securityholders to any vesting pursuant to clause (I) of the final paragraph of Section 2(e).
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Related to Medium Leaver

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  • Volunteer Firefighting Leave Leave without pay will be granted when an employee who is a volunteer firefighter is called to duty to respond to a fire, natural disaster or medical emergency.

  • BEREAVEMENT/TANGIHANGA LEAVE 18.1 The employer shall approve special bereavement leave on pay for an employee to discharge any obligation and/or to pay respects to a deceased person with whom the employee has had a close association. Such obligations may exist because of blood or family ties or because of particular cultural requirements such as attendance at all or part of a tangihanga (or its equivalent). The length of time off shall be at the discretion of the employer. 18.2 If a bereavement occurs while an employee is absent on annual leave, sick leave on pay, or other special leave on pay, such leave may be interrupted and bereavement leave granted in terms of 18.1 above. This provision will not apply if the employee is on leave without pay. 18.3 In granting time off and for how long, the employer must administer these provisions in a culturally sensitive manner.

  • Parenthood Leave A. A regular, limited-term or probationary employee shall be granted, upon request, a Parenthood Leave Without Pay of up to six (6) months in connection with the birth or placement for legal adoption of a child provided the employee meets the following conditions: 1. The requested Leave is commenced within six (6) months before or after the date of birth or placement for legal adoption of the child. 2. Sufficient documentation of such birth or placement for legal adoption is submitted with the request for Leave. 3. Such employee has completed new probation. 4. All accrued vacation, compensatory time or annual leave subject to 100% payoff has been applied toward the absence. B. Unless otherwise required by law, employees shall not be eligible for more than one (1) such Leave within any twelve (12) month period. C. Healthcare leave or annual leave must be applied toward any portion of the absence which qualifies under Section 1.B.1. of this Article provided the employee has furnished the agency/department with a certificate signed by a licensed physician stating the nature of the medical condition and period of disability. D. Pregnant employees may also apply for a Nonoccupational Disability Leave for the term of disability as provided in Section 4. of this Article. E. Parenthood Leave shall not be credited toward continuous service. F. For employees on Parenthood Leave, merit increase dates, probation periods and performance evaluation dates shall be treated as if the employee were on Official Leave.

  • Health Leave Any regular employee of the District may, at the discretion of the Board, be granted a leave of absence without pay for reasons of health, such leave to be specified for a period of not more than one year. Such leave may be extended in case of serious health conditions.

  • Catastrophic Leave Program Leave credits, as defined below, may be transferred from one (1) or more employees to another employee, on an hour-for-hour basis, in accordance with departmental policies upon the request of both the receiving employee and the transferring employee and upon approval of the employee's appointing authority, under the following conditions: A. The receiving employee is required to be absent from work due to injury or the prolonged illness of the employee, employee's spouse, registered domestic partner, a domestic partner listed on an “Affidavit for Enrollment of Domestic Partners,” submitted to employee benefits, parent or child, has exhausted all earned leave credits, including but not limited to sick leave, compensatory time, holiday credits and disability leave and is therefore facing financial hardship. B. The transfers must be for a minimum of four (4) hours and in whole hour increments thereafter. C. Transfers shall be allowed to cross-departmental lines in accordance with the policies of the receiving department. D. The total maximum leave credits received by an employee shall normally not exceed five hundred twenty (520) hours; however, if approved by his/her appointing authority, the total leave credits may be up to one thousand forty (1,040) hours. Total leave credits in excess of one thousand forty (1,040) hours will be considered on a case-by-case basis by the appointing authority subject to the approval of the Chief Administrative Officer. E. The transfers are irrevocable, and will be indistinguishable from other leave credits belonging to the receiving employee. Transfers will be subject to all taxes required by law. F. Leave credits that may be transferred under this program are defined as the transferring employee’s vacation credits or up to twenty-four (24) hours of sick leave per fiscal year. G. Transfers shall be administered according to the rules and regulations of the Auditor and Controller, and made on a form prescribed by the Auditor and Controller. Approvals of the receiving and donating employee, the donating employee's appointing authority and the receiving employee's appointing authority (in the case of an interdepartmental transfer) will be provided for on such form. H. This program is not subject to the Grievance Procedure of this Agreement.

  • Garden Leave Following the provision of a Notice of Termination either by the Company or by the Executive, the Company may direct, in its sole and exclusive discretion, that the Executive perform no duties, exercise no powers and resign from any office held in connection with his employment with the Company or its Affiliates; provided, however, that, following any such direction, the Executive will continue to be required to comply with his other obligations under this Agreement (and will continue to have a duty of loyalty to the Company as an employee) through the end of the Employment Period.

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