No Personal Liability of Directors, Officers, Employees and Stockholders No past, present or future director, officer, employee, incorporator or stockholder of the Company, as such, will have any liability for any obligations of the Company under the Indenture or the Notes or for any claim based on, in respect of, or by reason of, such obligations or their creation. By accepting any Note, each Holder waives and releases all such liability. Such waiver and release are part of the consideration for the issuance of the Notes.
No Personal Liability of Directors, Officers, Employees and Shareholders No past, present or future director, officer, employee, incorporator or shareholder of the Company, as such, will have any liability for any obligations of the Company under the Indenture or the Notes or for any claim based on, in respect of, or by reason of, such obligations or their creation. By accepting any Note, each Holder waives and releases all such liability. Such waiver and release are part of the consideration for the issuance of the Notes.
Discharge Without Cause The Bank may discharge the Officer without Cause at any time after the occurrence of a Change of Control or Pending Change of Control, and in such event:
(a) The Bank shall pay and deliver to the Officer (or in the event of his death before payment, to his estate and surviving dependents and beneficiaries, as applicable) the Standard Termination Entitlements.
(b) In addition to the Standard Termination Entitlements:
(i) During the Assurance Period, the Bank shall provide for the Officer and his dependents continued group life, health (including hospitalization, medical and major medical), dental, accident and long-term disability insurance benefits on substantially the same terms and conditions (including any required premium-sharing arrangements, co-payments and deductibles) in effect for them immediately prior to the Officer’s resignation. The coverage provided under this section 6(b)(i) may, at the election of the Bank, be secondary to the coverage provided as part of the Standard Termination Entitlements and to any employer-paid coverage provided by a subsequent employer or through Medicare, with the result that benefits under the other coverages will offset the coverage required by this section 6(b)(i).
(ii) The Bank shall make a lump sum payment to the Officer (or, in the event of his death before payment, to his estate), in an amount equal to the value of the salary, bonus, short-term and long-term cash compensation that the Officer received in the calendar year preceding that in which the termination of employment with the Bank occurs to compensate the Officer for the payments the Officer would have received during the Assurance Period. Such lump sum shall be paid in lieu of all other payments of salary, bonus, short-term and long-term cash compensation provided for under this Agreement in respect of the period following any such termination. Such payment shall be made (without discounting for early payment) within thirty (30) days following the Officer’s termination of employment. The payments and benefits described in section 6(b) are referred to in this Agreement as the “Additional Change of Control Entitlements”.
Donation of Sick Leave 8.10.1 On a case-by case basis and with mutual agreement between the Association and the District, any bargaining unit member may donate five (5) days (40 hours) of accumulated sick leave to another bargaining unit member who has suffered a long- term, non-industrial related illness or injury and who will exhaust all fully paid leaves. The employee suffering from such illness or designee must request, in writing, donations of sick leave from bargaining unit members only, through the Personnel Office. Requests shall be made prior to the exhaustion of all fully paid leave. Donation of sick leave will not be retroactive.
8.10.2 The Personnel Office will send out the notification of the request for donations of sick leave. The request will be sent for posting on all CUEA bulletin boards and the CUEA President notified of the request. All donations of sick leave will be voluntary with no personal solicitation of donors allowed. The names of any bargaining unit members donating sick leave under this provision will not be made public.
8.10.3 Only bargaining unit members who have a minimum of fifteen (15) days (120 hours) of accumulated sick leave remaining after donating five (5) days (40 hours) of sick leave under this provision will be permitted to participate in this program. Employees eligible to donate sick leave will do so on a District approved form and must submit that form to the Personnel Office.
8.10.4 The maximum amount of sick leave that may be donated to any one person requesting donations under this provision will be equivalent to sixty (60) days.
8.10.5 Donated sick leave will be utilized for the specified employee in the following manner:
(A) donated sick leave will be assigned a usage number. The first donated sick leave received by the Personnel Office will be the first sick leave used by the beneficiary. As sick leave is used by the unit member requesting it, the leave time will be charge against the unit member donating the sick leave.
(B) if the employee returns to work prior to using all donated days, unused sick leave will be returned to the bargaining unit member donating the sick leave.
8.10.6 Up to an additional twenty (20) days (160 hours) of donated time may be requested in writing to the Assistant Superintendent, Personnel Services by the affected member or his/her immediate family. In this case, Section 8.10.5 procedures will be put into effect.
8.10.7 When all paid leaves of absence have been exhausted, and the unit member is unable to return to work, in lieu of resigning the unit member may elect to do one of the following: take a personal leave without pay pursuant to Section 8.5 or Article VIII for not to exceed the remainder of the school year in which the leave occurs, or retire if eligible pursuant to the provisions of the State retirement system.
Transition to Retirement 24.1 An Employee may advise their Employer in writing of their intention to retire within the next five years and participate in a retirement transition arrangement.
24.2 Transition to retirement arrangements may be proposed and, where agreed, implemented as:
(a) a flexible working arrangement (see clause 16 (Flexible Working Arrangements));
(b) in writing between the parties; or
(c) any combination of the above.
24.3 A transition to retirement arrangement may include but is not limited to:
(a) a reduction in their EFT;
(b) a job share arrangement; or
(c) working in a position at a lower classification or rate of pay.
24.4 The Employer will consider, and not unreasonably refuse, a request by an Employee who wishes to transition to retirement:
(a) to use accrued Long Service Leave (LSL) or Annual Leave for the purpose of reducing the number of days worked per week while retaining their previous employment status; or
(b) to be appointed to a role which that has a lower hourly rate of pay or hours (post transition role), in which case:
(i) the Employer will preserve the accrual of LSL at the time of reduction in salary or hours; and
(ii) where LSL is taken or paid out in lieu on termination, the Employee will be paid LSL hours at the applicable classification and grade, and at the preserved hours, prior to the post transition role until the preserved LSL hours are exhausted.
