Section 3(e) of the Employment Agreement shall be amended by deleting such section in its entirety and substituting the following in lieu thereof:
Section 3(e). Nothing contained herein shall be construed to deny or restrict to any teacher rights he/she may have under the Michigan General School Laws or applicable civil service laws and regulations. The rights granted to teachers hereunder shall be deemed to be in addition to those provided elsewhere.
Section 3(e). If and when the Sotio Milestone occurs (the date of such occurrence, the “Milestone Date”) and without further action by the parties, Section 3 of the Employment Agreement shall be amended by adding the following as a new Section 3(e):
Section 3(e). Upon the closing of a Qualified Financing (the “Qualified Financing Closing”) and without further action by the parties, Section 3 of the Employment Agreement shall be amended by adding the following as a new Section 3(e):
Section 3(e). The first sentence of Section 3(e) is deleted, and the following sentence is hereby substituted in its place: With the exception of the items listed on Exhibit H attached to this First Amendment, the Pledgors have timely filed, and will timely file, all state and federal tax returns and reports required by applicable law, and the Pledgors have timely paid, and will timely pay, all applicable taxes, assessments, deposits and contributions now or in the future owed by them.
Section 3(e). The reference to “filing the Registration Statement (as defined below) pursuant to Section 5” should instead refer to “filing the Registration Statement (as defined below) pursuant to Section 6”.
Section 3(e). Section 3(e) of the Agreement shall be deleted in its entirety and replaced with the following:
Section 3(e). The last sentence of the first paragraph of Section 3(e) of the Agreement is hereby deleted in its entirety and replaced with the following: Linear interpolation shall be used to determine Vested PSUs earned between goal points listed in the chart below rounded to the nearest whole number of PSUs, except when the Company’s TSR Ranking is in the “At least 75th Percentile — and less than 90th Percentile” tier. When the Company’s TSR Ranking is in the “At least 75th Percentile — and less than 90th Percentile” tier, the Vested PSU payout percent will be 150% as reflected in the following chart. For the avoidance of doubt, (i) if the Company’s TSR Ranking is not at least at the 25th percentile, the Vested PSU Payout Percentage shall be 0%, and (ii) in no event shall the Vested PSU Payout Percent exceed 200%.
Section 3(e) is added as follows: If during the term of the Agreement, a Change of Control occurs, Executive shall be granted a Special Incentive Award in an amount payable at the discretion of the Board upon the successful completion of such transaction by the Company.
Section 3(e). E. For employees who are on approved leave which meets the requirements of Family Leave pursuant to Article IV, Section 15 and applicable law, the County shall continue to make medical insurance contributions as described in A., B., C. and D., above. Side Letter Acknowledgment AOCDS believes that this agreement is lawful, in the best interest of its bargaining unit members, and there is no valid reason for any group or person to assert otherwise. As a result, AOCDS agrees that it will not file a complaint, claim, grievance or lawsuit against the County, or provide any support or assistance to an employee or former employee who files a complaint, claim, grievance or lawsuit against the County, regarding the legality of these changes to the MOU. Further, if an employee or former employee files a complaint, claim, grievance or lawsuit against the County regarding the legality of these changes to the MOU, AOCDS agrees not to contest that the change is unlawful. In the event that any complaint, claim, grievance or lawsuit is filed against the County for these changes, the parties agree to reopen the contested section(s). This agreement will become effective the first pay period after the Board of Supervisors approves the aforementioned changes. These changes will remain in effect unless and until modified in subsequent negotiations between the parties. County of Orange: Association of Orange County Deputy Sheriffs: Xxxxxx Xxxxxxxxxx, CHRO Date Xxx Xxxxxxxxx, President Date Xxxx Xxxxxxxxxx, Asst. HR Director Date Xxxx Xxxxxxxx, AOCDS Executive Director Date Attachments: 1. Redlined Article II, Section 4 2. Redlined Article II, Section 5(E) 3. Redlined Article IV, Section 2 4. Redlined Article VI, Section 1(F)
