Class Option definition

Class Option is defined as an area of specialization which may require special licensure, certification, or registration and for which a separate selection process is used in making appointments to a classification.
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Class Option has the meaning specified in the Class _____ Call Option Agreement].
Sample 1

Examples of Class Option in a sentence

  • The employee’s name will be placed on the Seniority Unit Layoff List but will not be placed on the Class (or Class Option) Layoff List until the end of the claiming period.

  • Employees who were not able to bump, transfer, or demote to previously held class(es) in lieu of layoff shall also be placed on the Class (or Class Option) Layoff List for the previously held bargaining unit class(es) for which they have indicated availability.

  • Failure to accept recall to a position which meets the availabilities specified by the employee except that employees who fail to accept recall from the Class (or Class Option) Layoff List shall be removed only from that list.

  • If the vacancy is not filled through the claiming process or with a seniority unit employee who has received notice of permanent layoff, selection shall next be made from among employees on the Class (or Class Option) Layoff List.

  • If employees provide the required information, the names of such employees shall also be placed on a Class (or Class Option) Layoff List for the class (or class option) from which they were demoted in lieu of layoff, laid off, or reallocated downward in order of their Classification Seniority (State Seniority for Units 4 and 6).

  • Names shall be retained on the Class (or Class Option) Layoff List for a minimum of one (1) year or for a period of time equal to the employee's Classification Seniority (State Seniority for Units 4 and 6), to a maximum of three (3) years.

  • An Appointing Authority may, with prior written notice to the employee, require a probationary period as specified in Section 10C for transfers and demotions to a new Appointing Authority or to classes in which the employee has not previously served, reemployment, reinstatement, recall from a Class (Class Option) Layoff List, or (for any employee laid off after October 23, 1995) recall from a Seniority Unit Layoff List more than two (2) years after the date of layoff.

  • In order to be placed on the Class (or Class Option) Layoff List, the employee shall indicate, in writing on a document provided by the Appointing Authority, the geographic location(s) and the employment condition(s) for which he/she would accept employment.

  • Class Option" is defined as an area of specialization which may require special licensure, certification, or registration and for which a separate selection process is used in making appointments to a classification.

  • An employee who is demoted as a result of a reallocation shall have their name placed on the Seniority Unit and Class (or Class Option) Layoff Lists for the class from which they were reallocated.

Related to Class Option

  • Top-Up Option has the meaning set forth in Section 1.04(a).

  • Interest Option means LIBOR or the Reference Rate.

  • Class C Shares means shares of the Class C Common Stock.

  • Stock Option means a contractual right granted to an Eligible Person under Section 6 hereof to purchase shares of Common Stock at such time and price, and subject to such conditions, as are set forth in the Plan and the applicable Award Agreement.

  • 3(i) Option means an Option granted pursuant to Section 3(i) of the Ordinance to any person who is Non- Employee.

  • Unvested Option means an Option in respect of which the relevant Vesting Conditions have not been satisfied and as such, the Option Grantee has not become eligible to exercise the Option.

  • Incentive Share Option means an Option that is intended to meet the requirements of Section 422 of the Code or any successor provision thereto.

  • Vested Option means any Option, which has already been vested according to the Vesting Dates.

  • Stock Index Option means an exchange traded option entitling the holder, upon timely exercise, to receive an amount of cash determined by reference to the difference between the exercise price and the value of the index on the date of exercise.

  • Stock Reload Option means any option granted under Section 6.3, below, as a result of the payment of the exercise price of a Stock Option and/or the withholding tax related thereto in the form of Stock owned by the Holder or the withholding of Stock by the Company.

  • Class I Shares means Class I Shares in the Company as set forth in the relevant

  • Class LT-R Interest The residual interest in the Lower-Tier REMIC as described in the Preliminary Statement and the related footnote thereto.

  • class of Shares refers to the division of Shares into two or more classes as provided in Article III, Section 1 hereof;

  • Rollover Option has the meaning set forth in Section 2.4(a).

  • Call Option means an exchange traded option with respect to Securities other than Stock Index Options, Futures Contracts, and Futures Contract Options entitling the holder, upon timely exercise and payment of the exercise price, as specified therein, to purchase from the writer thereof the specified underlying Securities.

  • Director Option means an Option granted pursuant to Section 6.

  • Covered Call Option means an exchange traded option entitling the holder, upon timely exercise and payment of the exercise price, as specified therein, to purchase from the writer thereof the specified underlying Securities (excluding Futures Contracts) which are owned by the writer thereof and subject to appropriate restrictions.

  • Grant Amount or “Grant” means the total amount of financial assistance disbursed under this Agreement, which consists of the City's Amount and the Consultant’s Amount.

  • Share Appreciation Right means the right pursuant to an Award granted under Section 8 below to receive an amount equal to the excess, if any, of (i) the aggregate Fair Market Value, as of the date such Award or portion thereof is surrendered, of the Shares covered by such Award or such portion thereof, over (ii) the aggregate Exercise Price of such Award or such portion thereof.

  • Option Grant Date means, as to any Stock Option, the latest of:

  • Reload Option means any Option granted under Section 6(a)(iv) of the Plan.

  • Class A Preferred Shares shall have the meaning ascribed to it in Section 2.4(a).

  • Call Option Date As defined in Section 10.01(a) hereof.

  • Purchase Right means an option to purchase shares of Common Stock granted pursuant to the Plan.

  • Purchase Option Period As defined in Section 9.03(a) hereof.

  • Option Right means the right to purchase Common Shares upon exercise of an option granted pursuant to Section 4 of this Plan.