Upon Reclassification Sample Clauses

Upon Reclassification. (a) Where an employee occupies a position which is reclassified because of a change of duties, resulting in its inclusion in a classification having a higher maximum salary, the employee shall receive: (i) The minimum of the new range where that minimum is more than eight percent (8%) above the employee’s present salary; or (ii) Eight percent (8%) where the employee’s salary on reclassification does not exceed the maximum of the range for the new classification, or is the same as or more than the minimum but less than the maximum salary for the new class; (iii) Where application of Clause (ii) above would provide for reclassification exceeding the maximum of the range for the position, the maximum rate in the range. (b) Where an employee occupies a position which is reclassified resulting in its inclusion in a classification having a maximum salary the same as that previously applicable to the position, the salary payable to the employee shall remain unchanged. (i) Where an employee occupies a position which upon reclassification results in the position having a maximum salary less than that previously applicable to the position, the salary payable to the employee shall remain at their current applicable rate. (ii) The employee shall be eligible for any subsequent economic adjustments or merit increases.
Sample 1Sample 2Sample 3See All (5)
AutoNDA by SimpleDocs
Upon Reclassification. Where an employee occupies a position that is reclassified because of a change of duties, resulting in its inclusion in a class having a higher maximum salary, the employee shall receive:
Sample 1Sample 2Sample 3See All (4)
Upon Reclassification. (1) Where an employee occupies a position that is reclassified because of a change of duties, resulting in its inclusion in a class having a higher maximum salary, the employee shall receive: (a) the minimum of the new range where that minimum is more than 8% above his/her present salary; or (b) 8% where his/her salary on reclassification does not exceed the maximum of the range for the new class; or (c) where the application of (b) above would provide for reclassification exceeding the maximum of the range for the position, the maximum rate in the range. (2) Where an employee occupies a position which is reclassified resulting in its inclusion in a class having a maximum salary the same as that previously applicable to the position, the salary payable to the employee shall remain unchanged.
Sample 1Sample 2Sample 3See All (4)
Upon Reclassification. A. Where an Employee occupies a position which is reclassified, resulting in a higher classification, the Employee shall receive at least: (i) step 1 of the new classification, if the Employee’s salary prior to reclassification is less than that amount; or, (ii) the corresponding salary plus one step on the new grid where the Employee’s salary prior to reclassification is the same as or more than the minimum of that new grid. B. Where an Employee occupies a position which is reclassified resulting in a classification that has the same corresponding grid as the Employee’s position prior to reclassification, the salary payable to the Employee shall normally remain unchanged. C. Where an Employee occupies a position which is reclassified resulting in a lower classification, (i) the Employee shall be placed on the step of the lower grid which corresponds to their salary prior to reclassification, resulting in no change to actual salary to be paid to the Employee; or, (ii) where there is no step on the lower grid that corresponds to the salary the Employee has been receiving prior to reclassification, the Employee shall remain on their current grid. The Employee shall receive general negotiated increases to the salary schedule, however, will not receive any annual increments. D. The effective date of any salary adjustment due to reclassification will normally be the date a written job description is received in the Department of Human Resources.
Sample 1Sample 2Sample 3
Upon Reclassification. (a) Where an employee occupies a position that is reclassified because of a change of duties, resulting in its inclusion in a level having a higher maximum salary, the employee shall receive (i) the minimum of the new range where that minimum is more than 8% above their present salary; or (ii) 8% where their salary is the same as or more than the minimum but less than the maximum salary for the new class; (iii) the maximum rate in the range, where the application of (ii) above would provide for reclassification exceeding the maximum of the range for the position. (b) Where an employee occupies a position that is reclassified resulting in its inclusion in a level having a maximum salary the same as that previously applicable to the position, the salary payable remains unchanged. (c) Notwithstanding Article 26.01, where an employee occupies a position that is reclassified to a level having a salary range the maximum rate of which is less than the maximum rate of the previously applicable range (i) the rate of pay of the employee shall remain the same, until changed in accordance with this section; (ii) the anniversary date of the employee shall remain the same; (iii) the employee shall continue to be eligible for salary rate increases based on merit and economic adjustments, up to the maximum salary rate in effect for the old level at the time of the reclassification; and (iv) the employee shall not be eligible for further salary rate increases beyond those for which Paragraph (iii) provides until the maximum salary rate for the new level exceeds the employee’s salary rate.
Sample 1Sample 2
Upon Reclassification. (1) Where an employee occupies a position that is reclassified because of a change of duties, resulting in its inclusion in a class having a higher maximum salary, the employee shall receive: (a) the minimum of the new range where that minimum is more than 8% above his/her present salary; or (b) 8% where his/her salary on reclassification does not exceed the maximum of the range for the new class; or
Sample 1
Upon Reclassification. Where an employee occupies a position which is reclassified because of a change of duties, resulting in its inclusion in a classification having a higher maximum salary, the employee shall receive: The minimum of the new range where that minimum is more than eight percent (8%) above the employee’s present salary; or Eight percent (8%) where the employee’s salary on reclassification does not exceed the maximum of the range for the new classification, or is the same as or more than the minimum but less than the maximum salary for the new class; Where application of Clause above would provide for reclassification exceeding the maximum of the range for the position, the maximum rate in the range. Where an employee occupies a position which is reclassified resulting in its inclusion in a classification having a maximum salary the same as that previously applicable to the position, the salary payable to the employee shall remain unchanged. Where an employee occupies a position which upon reclassification results in the position having a maximum salary less than that previously applicable to the position, the salary payable to the employee shall remain at current applicable rate. The employee shall be eligible for any subsequent economic adjustments or merit increases.
Sample 1
AutoNDA by SimpleDocs
Upon Reclassification. Where an employee occupies a position which is reclassified because of a change of duties, resulting in its inclusion in a class having a higher maximum salary, the employee shall receive: minimum of new range that minimum is more than above present salary; or his/her salary on does not exceed the maximum of the range for the new class; or an employee occupies a position which is reclassified resulting in its inclusion in a class having a maximum salary the same as that previously applicable to the position, the salary payable to the employee shall remain unchanged. The salary range payable to the employee shall remain unchanged.
Sample 1
Upon Reclassification. (i) An employee whose position is reclassified to a higher level in the bargaining unit shall be placed at a Step which gives them at least a four percent (4%) salary increase. (ii) An employee whose position is reclassified to a lower level in the bargaining unit, through no fault of his own, shall continue to receive his current salary until such time as the reclassified salary exceeds his current salary. (iii) The effective date of any salary adjustment due to reclassification shall be the date the reclassification request is received by Human Resources.
Sample 1

Related to Upon Reclassification

  • 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.

  • 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 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.

  • 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 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.

  • 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).

  • 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.

  • 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.

  • Adjustments for Reclassification, Exchange or Substitution If the Common Stock issuable upon conversion of this Note at any time or from time to time after the Issuance Date shall be changed to the same or different number of shares of any class or classes of stock, whether by reclassification, exchange, substitution or otherwise (other than by way of a stock split or combination of shares or stock dividends provided for in Sections 3.6(a)(i), (ii) and (iii), or a reorganization, merger, consolidation, or sale of assets provided for in Section 3.6(a)(v)), then, and in each event, an appropriate revision to the Conversion Price shall be made and provisions shall be made (by adjustments of the Conversion Price or otherwise) so that the Holder shall have the right thereafter to convert this Note into the kind and amount of shares of stock and other securities receivable upon reclassification, exchange, substitution or other change, by holders of the number of shares of Common Stock into which such Note might have been converted immediately prior to such reclassification, exchange, substitution or other change, all subject to further adjustment as provided herein.

  • 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.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!