The Company reserves the Right to Amend Provisions Regarding Properties Excepted from Lien of Mortgage
SECTION 3.01. The Company reserves the right, without any consent or other action by holders of bonds of the Ninth Series, or any other series of bonds subsequently created under the Mortgage (including the bonds of the Thirty-Sixth Series and the Thirty-Seventh Series), to make such amendments to the Mortgage, as heretofore amended and supplemented, as shall be necessary in order to amend the first proviso to the granting clause of the Mortgage, which proviso sets forth the properties excepted from the Lien of the Mortgage, to add a new exception (10) which shall read as follows:
The Company reserves the right at any time, and from time to time, to modify or amend in whole or part, and all provisions of the agreement with the Insurance Carrier, to change Insurance Carriers, or to terminate the agreement with the Insurance Carrier.
The Company reserves the right to determine the job titles and work group(s) and/or work location(s) in which a surplus exists, the number of work groups and/or work locations in which a surplus exists, the number of employees in such titles and locations which are considered to be surplus, and the period during which the employee may, if he or she so elects, leave the service of the Company pursuant to this Plan. In no event shall the number of employee elections accepted under the terms of the Plan exceed the number of employees determined by the Company to be surplus.
The Company reserves the right to reduce the number of employees absent on vacation at any one time due to emergency operating requirements. If a scheduled vacation is cancelled by the Company, the employee’s vacation will be rescheduled at that time. All non-refundable and non-insured expenses, verified through receipts, incurred by the employee due to this cancellation will be reimbursed.
The Company reserves the right to replace defective parts of the Goods with parts and components of similar quality, grade and composition where an identical part or component is not available.
The Company reserves the right to terminate a Pilot’s employment at any time during the probationary period by giving two (2) weeks (written notice or payment in lieu of notice or a combination of both). Pilots will be required to give the Company the same written notice should they wish to leave their employment during the probationary period.
The Company reserves the sole right to make any decision regarding the suitability of a probationary employee for retention and during probation, seniority rules shall not apply, but seniority, when established, shall commence from the last date of hire. The Training and Licensing Committee will be given an opportunity for input into the technical qualifications assessment of probationary employees, prior to a final decision concerning the retention, extension, or dismissal of such employees.
