Reclassification Downward Sample Clauses

Reclassification Downward. (A) Reclassification downward is a change in the classification of a position by reducing it to a lower classification. (B) The university/college shall, sixty (60) days in advance of a reclassification downward of any position, notify the employee in writing of the action and the specific reasons.
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Reclassification Downward. 15 When a position is reclassified to a lower classification, the incumbent shall have the 16 following options: 17 a. Enter the new class with salary frozen (Y-Rate) at the current level until such time wages 18 at the lower pay range equal no loss of dollars to the unit members. 19 b. Bump any unit member in the same class with less seniority. 20 c. Bump any unit member with less seniority in a lower class in which the incumbent 21 formerly served. 22 * Cross referenced to ARTICLE 17, Reclassification Procedure
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Reclassification Downward. When a position is reclassified to a lower classification, the incumbent shall have the following options: a. Enter the new class with salary frozen (Y-Rate) at the current level until such time wages at the lower pay range equal no loss of dollars to the unit members. b. Bump any unit member in the same class with less seniority. c. Bump any unit member with less seniority in a lower class in which the incumbent formerly served. * Cross referenced to ARTICLE 17, Reclassification Procedure Additional Percentage Pay: Unit members receiving two and one-half percent (2.5%) additional pay for utilization of a language other than English or five percent (5%) additional pay for performance of special tasks as of October 1, 1985, will continue to receive such pay providing they continue to meet the criteria under which they became eligible.
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Reclassification Downward. When an employee is reclassified to a classification with a lower salary range for reasons that do not reflect discredit on his/her employment record, the following shall occur: 1. If the employee's current salary is within the salary range of the new classification, the employee's salary shall remain the same. 2. If the employee's current salary is greater than the salary range of the new classification, the employee's salary shall be redlined or frozen at its current level for a maximum of six (6) months. If after six (6) months the maximum rate of the new classification has not increased to the employee's frozen salary level, the employee's salary shall be reduced to the maximum rate of the new classification. This type of reclassification is not considered a demotion. The employee's salary shall not be reduced, however, if the reclassification results from a general reorganization of a division.
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Reclassification Downward. If a position is reclassified to a class in a lower salary range, and the salary of the Employee exceeds the maximum of the new range, the Employee shall be placed in the new class and shall retain their current salary. In addition, the Employee shall receive any across-the-board wage increase as provided by this Agreement.
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Reclassification Downward. When an employee is reclassified to a classification with a lower salary range, the following shall occur: 1) The incumbent employee may choose to exercise her or his displacement, bumping, and any associated rights, in accordance with Article 11. 2) If the employee chooses to stay in the position or is unable to move based on her or his seniority, and the employee’s current salary is within the salary range of the new classification, the employee’s salary shall remain the same. If the employee’s current salary is greater than the salary range of the new classification, the employee’s salary shall be red-circled, or frozen, at its current level for one (1) year. After one (1) year, the employee’s salary shall be moved to step 6 of the range of the new classification. 3) Any employee who is demoted as a result of a reclassification will be granted recall rights, in accordance with Article 11. 4) Reclassification which results in a demotion will not affect the employee’s merit date.
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Reclassification Downward. When a position is reclassified to a classification having a lower salary range and the incumbent employee is appointed to the position so reclassified, the salary rate of such employee will normally remain at the current rate. If the current rate then exceeds the maximum step of the new range, salary will be frozen at its current level until the incumbent leaves the position.
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Reclassification Downward. When an employee is reclassified to a classification with a lower salary range, the following shall occur: 1) The incumbent employee may choose to exercise their displacement, bumping, and any associated rights, in accordance with Article 11. 2) If the employee chooses to stay in the position or is unable to move based on their seniority, and the employee’s current salary is within the salary range of the new classification, the employee’s salary shall remain the same. If the employee’s current salary is greater than the salary range of the new classification, the employee’s salary shall be red-circled, or frozen, at its current level for one (1) year. After one (1) year, the employee’s salary shall be moved to step 6 of the rangeof the new classification. 3) Any employee who is demoted as a result of a reclassification will be granted recall rights, in accordance with Article 11. 4) Reclassification which results in a demotion will not affect the employee’s merit date. If a salary range for an individual classification is negotiated for an increase based on issues other than job changes, the incumbent employees will receive a pay increase with no change in their merit review date. If a salary range is increased for any other reason or a position is reclassified to a higher salary range, the incumbents will receive a pay increase in accordance with the contract and City policy and their merit dates willbe reset.
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Reclassification Downward. Reclassification downward is a change in the classification of a position by reducing it to a lower classification.
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Related to Reclassification Downward

  • Reclassification, etc If the Borrower at any time shall, by reclassification or otherwise, change the Common Stock into the same or a different number of securities of any class or classes, this Note, as to the unpaid principal portion thereof and accrued interest thereon, shall thereafter be deemed to evidence the right to purchase an adjusted number of such securities and kind of securities as would have been issuable as the result of such change with respect to the Common Stock immediately prior to such reclassification or other change.

  • Reclassification If the Company, by reclassification of securities or otherwise, shall change any of the securities as to which purchase rights under this Warrant exist into the same or a different number of securities of any other class or classes, this Warrant shall thereafter represent the right to acquire such number and kind of securities as would have been issuable as the result of such change with respect to the securities that were subject to the purchase rights under this Warrant immediately prior to such reclassification or other change, and the Purchase Price therefor shall be appropriately adjusted, all subject to further adjustment as provided in this Section 4. No adjustment shall be made pursuant to this Section 4.3 upon any conversion or redemption of the Common Stock which is the subject of Section 4.5.

  • Recapitalization or Reclassification If the Company shall at any time effect a recapitalization, reclassification or other similar transaction of such character that the shares of Common Stock shall be changed into or become exchangeable for a larger or smaller number of shares, then upon the effective date thereof, the number of shares of Common Stock which Holder shall be entitled to purchase upon Exercise of this Warrant shall be increased or decreased, as the case may be, in direct proportion to the increase or decrease in the number of shares of Common Stock by reason of such recapitalization, reclassification or similar transaction, and the Exercise Price shall be, in the case of an increase in the number of shares, proportionally decreased and, in the case of decrease in the number of shares, proportionally increased. The Company shall give Holder the same notice it provides to holders of Common Stock of any transaction described in this Section 5(b).

  • Reclassifications A reclassification of the Common Stock (other than any such reclassification in connection with a merger or consolidation to which Section 9(e) applies) into shares of any other class of stock shall be deemed: (i) a distribution by the Company to the holders of its Common Stock of such shares of such other class of stock for the purposes and within the meaning of this Section 9; and (ii) if the outstanding shares of Common Stock shall be changed into a larger or smaller number of shares of Common Stock as part of such reclassification, such change shall be deemed a subdivision or combination, as the case may be, of the outstanding shares of Common Stock for the purposes and within the meaning of Section 9(b).

  • Reclassification of Shares If the Company at any time shall, by combination, reclassification, exchange or subdivision of securities or otherwise, change any of the securities as to which purchase rights under this Warrant Agreement exist into the same or a different number of securities of any other class or classes, this Warrant Agreement shall thereafter represent the right to acquire such number and kind of securities as would have been issuable as the result of such change with respect to the securities which were subject to the purchase rights under this Warrant Agreement immediately prior to such combination, reclassification, exchange, subdivision or other change.

  • Reclassification or Merger In case of any reclassification or change of securities of the class issuable upon exercise of this Warrant (other than a change in par value, or from par value to no par value, or from no par value to par value, or as a result of a subdivision or combination), or in case of any merger of the Company with or into another corporation (other than a merger with another corporation in which the Company is the acquiring and the surviving corporation and which does not result in any reclassification or change of outstanding securities issuable upon exercise of this Warrant), or in case of any sale of all or substantially all of the assets of the Company, the Company, or such successor or purchasing corporation, as the case may be, shall duly execute and deliver to the holder of this Warrant a new Warrant (in form and substance satisfactory to the holder of this Warrant), or the Company shall make appropriate provision without the issuance of a new Warrant, so that the holder of this Warrant shall have the right to receive upon exercise of this Warrant, at a total purchase price not to exceed that payable upon the exercise of the unexercised portion of this Warrant, and in lieu of the shares of Common Stock theretofore issuable upon exercise of this Warrant, the kind and amount of shares of stock, other securities, money and property receivable upon such reclassification, change, merger or sale by a holder of the number of shares of Common Stock then purchasable under this Warrant. Any new Warrant shall provide for adjustments that shall be as nearly equivalent as may be practicable to the adjustments provided for in this Section 4. The provisions of this Section 4(a) shall similarly apply to successive reclassifications, changes, mergers and sales.

  • Reclassification Procedure a. A completed Position Description Form and written explanation for a proposed reclassification request shall be submitted to the Agency Personnel Office. b. Agency shall review and verify the duties assigned to the position. Within thirty (30) days after receipt of reclassification request, the Agency shall notify the Union of its findings. If the findings indicate reclassification, the Agency shall decide to seek approval if necessary or remove duties.

  • Classification and Reclassification It is understood and agreed that any Lien, sale, lease or other disposition of assets, Dividend, Indebtedness, Investment, transaction with Affiliates or prepayment of Indebtedness need not be permitted solely by reference to one category of permitted Lien, sale, lease or other disposition of assets, Dividend, Indebtedness, Investment, transactions with Affiliates or prepayment of Indebtedness under Sections 10.01, 10.02, 10.03, 10.04, 10.05, 10.06 and 10.07, respectively, but may instead be permitted in part under any combination thereof (it being understood that Borrower may utilize amounts under any category that is subject to any financial ratio or test, including the Consolidated Fixed Charge Coverage Ratio, Consolidated First Lien Net Leverage Ratio, Consolidated Secured Net Leverage Ratio or Consolidated Total Net Leverage Ratio, prior to amounts under any other category). For purposes of determining compliance at any time with Sections 10.01, 10.02, 10.03, 10.04, 10.05, 10.06 and 10.07, in the event that any Lien, sale, lease or other disposition of assets, Dividend, Indebtedness, Investment, transaction with Affiliates or prepayment of Indebtedness meets the criteria of more than one of the categories of transactions or items permitted pursuant to any clause of such Sections 10.01, 10.02, 10.03, 10.04, 10.05, 10.06 and 10.07, Borrower, in its sole discretion, may, from time to time, classify or reclassify such transaction or item (or portion thereof) and will only be required to include the amount and type of such transaction (or portion thereof) in any one category. Reclassifications of any utilization of the Incremental Amount shall occur automatically to the extent set forth in the definition thereof.

  • Reclassification of Position An employee shall not have her salary reduced by reason of a change in the classification of her position that is caused other than by the employee herself.

  • Reclassification, Exchange or Substitution Upon any reclassification, exchange, substitution, or other event that results in a change of the number and/or class of the securities issuable upon exercise or conversion of this Warrant, Holder shall be entitled to receive, upon exercise or conversion of this Warrant, the number and kind of securities and property that Holder would have received for the Shares if this Warrant had been exercised immediately before such reclassification, exchange, substitution, or other event. Such an event shall include any automatic conversion of the outstanding or issuable securities of the Company of the same class or series as the Shares to common stock pursuant to the terms of the Company's Articles of Incorporation upon the closing of a registered public offering of the Company's common stock. The Company or its successor shall promptly issue to Holder a new Warrant for such new securities or other property. The new Warrant shall provide for adjustments which shall be as nearly equivalent as may be practicable to the adjustments provided for in this Article 2 including, without limitation, adjustments to the Warrant Price and to the number of securities or property issuable upon exercise of the new Warrant. The provisions of this Section 2.2 shall similarly apply to successive reclassifications, exchanges, substitutions, or other events.

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