Common use of Replacing Tools Clause in Contracts

Replacing Tools. The Company will replace all required tools which become unserviceable provided the unserviceable tools are turned in. It is understood that any tools lost or stolen due to the negligence; or damaged due to abuse of any employee, will be replaced by the employee and not the Company. Any tool or equipment purchased as a capital expense shall be replaced at the depreciated value of the tool or equipment at the time of loss. Reimbursement may be by payroll deduction at the employee’s option. In no case shall bi-weekly payments exceed 10% of employee’s base pay except by voluntary waiver.

Replacing Tools. The Company will replace all required tools which become unserviceable provided the unserviceable tools are turned in. It is understood that any tools lost or stolen due to the negligence; or damaged due to abuse of any employee, will be replaced by the employee and not the Company. Any tool or equipment purchased as a capital expense shall be replaced at the depreciated value of the tool or equipment at the time of loss. Reimbursement may be by payroll deduction at the employee’s 's option. In no case shall bi-bi­ weekly payments exceed 10% of employee’s 's base pay except by voluntary waiver.