Displacement (a) An Employee whose position is eliminated by the Employer or who is displaced in accordance with this Article shall, provided the Employee has not less than 24 months of seniority:
(i) have the right to displace an Employee with less seniority in a position for which the Employee has the ability to perform the work;
(ii) at the Employee’s option, take a position which is vacant and for which the Employee has the ability to perform the work; or
(iii) at the Employee’s option, accept layoff with the right of recall. If an Employee elects (i) or (ii) and the Employer determines that the Employee does not have the ability to perform the work of the position selected, the Employer shall inform the Employee and the Local of such within 10 consecutive calendar days, exclusive of Saturdays, Sundays and Named Holidays which are specified in Article 18: Named Holidays, of the Employee making such selection. The Employee shall then have the right to make another selection in accordance with Article 15.04.
(b) An Employee exercising the right to displace another Employee or to take a vacant position pursuant to Article 15.04(a) shall within 72 hours, exclusive of Saturdays, Sundays or Named Holidays, of receipt of written notice from the Employer of the elimination of the Employee’s position or displacement, advise the Employer, in writing, of their decision, including the name of the Employee they wish to displace or the vacant position they wish to take. Where there is more than one (1) Employee on that unit with an equivalent full-time equivalency, Shift pattern, and length of Shift, to that of the selected position, the Employee shall displace the least senior of such Employees. Where the Employee fails to exercise such right within the specified time limit, the Employee shall be deemed to have waived the right to displace another Employee or take a vacant position and the Employer shall:
(i) place the Employee in any available vacant position of the Employer’s choice for which the Employee has the ability to perform the work and is within a radius of 50 kilometers from the current site (an Employee may elect to be laid off, with recall rights if the position is located at a site outside the boundaries of the municipality in which the current site is located); or
(ii) in the absence of such a vacancy effect a layoff in accordance with Article
Placement Upon successful completion of his or her training period, the Hospital and the Union undertake to waive any restrictions which might otherwise apply, and the employee will be placed in the job identified in 9.11
(a) (i). An employee subject to layoff who applies but later declines to accept a retraining offer or fails to complete the training will remain subject to layoff.
Step Placement When a reclassification action occurs, the justification for the action taken shall be provided in writing to the affected employee or employees. When an employee is reclassified to a position having a higher maximum regular base hourly rate, the employee’s pay shall be increased to the pay step amount which is at least, and closest to, 3 percent higher than the pay they received prior to the reclassification. When an employee is reclassified to a position having the same maximum regular base hourly rate, the employee’s pay step amount shall remain the same. When an employee is reclassified to a position having a lower maximum regular base hourly rate, the employee’s pay shall be decreased to the pay step amount closest to their present regular base hourly rate. However, when the employee’s regular base hourly rate of pay, prior to the reclassification, is greater than step 9 of the newly assigned pay grade, the employee’s regular base hourly rate of pay shall be frozen as of the date of the reclassification. The employee’s regular base hourly rate shall remain frozen until such time as step 9 of the pay grade assigned to the employee’s classification is equal to or greater than the employee’s frozen rate of pay. When that occurs, the employee shall be placed into step 9 of the new pay grade assigned to the employee’s classification. When a reclassification occurs in a multi-incumbent classification and incumbents compete for the classification, the salary placement shall be administered in the same manner as a promotion in Article 13, Section 3.
Order Placement To place orders for the Trustee to create or redeem one or more Baskets, Authorized Participants must follow the procedures for creation and redemption referred to in Section 3 of this Agreement and the procedures described in Attachment A hereto (the “Procedures”), as each may be amended, modified or supplemented from time to time.
No General Solicitation; Placement Agent’s Fees Neither the Company, nor any of its Subsidiaries or affiliates, nor any Person acting on its or their behalf, has engaged in any form of general solicitation or general advertising (within the meaning of Regulation D) in connection with the offer or sale of the Securities. The Company shall be responsible for the payment of any placement agent’s fees, financial advisory fees, or brokers’ commissions (other than for Persons engaged by any Buyer or its investment advisor) relating to or arising out of the transactions contemplated hereby, including, without limitation, placement agent fees payable to the Placement Agent in connection with the sale of the Securities. The fees and expenses of the Placement Agent to be paid by the Company or any of its Subsidiaries are as set forth on Schedule 3(g) attached hereto. The Company shall pay, and hold each Buyer harmless against, any liability, loss or expense (including, without limitation, attorney’s fees and out-of-pocket expenses) arising in connection with any such claim. The Company acknowledges that it has engaged the Placement Agent in connection with the sale of the Securities. Other than the Placement Agent, neither the Company nor any of its Subsidiaries has engaged any placement agent or other agent in connection with the offer or sale of the Securities.