ESP Seniority Sample Clauses

The ESP Seniority clause establishes the order of priority for payments or claims related to Equity-Linked Securities Programs (ESP) in the event of liquidation or distribution of assets. Typically, this clause specifies that obligations under the ESP will rank either above or below other classes of debt or equity, clarifying whether ESP holders are paid before or after other creditors or shareholders. By clearly defining the seniority of ESP claims, the clause helps manage investor expectations and allocates risk, ensuring all parties understand their position in the hierarchy of claims.
ESP Seniority. A. Seniority shall accrue in categories of position for ESPs. Seniority shall begin with date of hire. No seniority shall accrue to a person employed as a substitute for an ESP on leave of absence for one year or less, unless that person continues the employment after the return of the ESP on leave. ESPs may accrue seniority in more than one category of position. In the event that more than one ESP has the same starting date of work, position on the seniority list shall be determined by drawing lots. ESPs continuously employed with the Board shall maintain seniority in all positions and classifications currently held. B. A seniority list shall be posted by February 1, current through that school year. The seniority list shall set forth the seniority of each ESP by category of position. The Association shall be given a copy of the list. Within ten (10) days of the posting of the list, any ESP who believes his/her seniority is incorrectly shown shall submit to the Superintendent in writing an explanation of any claimed error, and shall have the right to meet with the administration to correct errors. Unless such claim is made within a ten (10) day period, seniority shall be deemed accurate for the end of that year. C. Once attained, seniority is not lost, except as set forth herein. Seniority is lost upon the following:
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ESP Seniority. Seniority is the length of the ESP's continuous service by category starting with the first day on which duties are performed in the ESP’s category. In the case of 10-month ESP, the two months not worked during the summer shall not constitute a break in service. Seniority credit shall be computed on the initial hire date for full time employment that an ESP accrues according to the following criteria: A. Seniority is lost upon the following: Resignation Dismissal Retirement Part-time Employment B. Seniority continues to accrue during the following: Leave of absence Temporary disability (IMRF) C. By February 1 annually, the Board shall publish an ESP seniority list that is prepared according to the provisions herein.
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ESP Seniority. This Article is Applicable only to Educational Support Personnel
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ESP Seniority 
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ESP Seniority 
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Related to ESP Seniority

  • Super Seniority For purposes of layoff and recall only, the President shall head the seniority list, provided however, that such officer must have the necessary skill and experience to perform the required work. The Sheriff agrees that this section shall not be applied in an arbitrary manner.

  • SENIORITY 10.01 For Employees who are employed in the bargaining unit on the date of ratification of this Collective Agreement, seniority shall be defined as their total length of service with the Company in positions now covered by this Collective Agreement. For Employees who are hired or who transfer into the bargaining unit after the date of ratification, seniority shall be defined as their total length of service in the bargaining unit, dating from their first date of employment in the bargaining unit. 10.02 Seniority shall be defined as the total length of service in the bargaining unit dating from the Employee’s first date of employment in the bargaining unit. 10.03 An Employee who transfers or is re-hired to a position outside the bargaining unit shall, if the Employee returns to the bargaining unit, retain all seniority that the Employee had prior to leaving the bargaining unit, including the first six (6) consecutive months of time spent out of the bargaining unit. 10.04 Employees will lose their seniority and their name will be removed from the seniority list and their employment will be considered terminated under the following circumstances: (a) When discharged for just cause and not reinstated; (b) When an Employee voluntarily leaves the Company; (c) When laid off for a period in excess of their recall rights as set out in Article 11.04; (d) Desertion of service; (e) When retired; (f) When an Employee is absent from work without notice to the Company for two (2) or more consecutive scheduled shifts; (g) When an Employee overstays a vacation or leave of absence without securing a written extension of such leave of absence or vacation from the Company; unless an explanation satisfactory to the Company is given by the Employee; (h) When an Employee utilizes a leave of absence for reasons other than those for which it was granted; (i) When an Employee fails to return to work immediately after the Company has been notified by a doctor or WSIB that the employee is able to return to work; (j) When an Employee receives notice of recall to work following a layoff, by telephone or by email or registered mail, and fails to advise the Company if the Employee wishes to accept the recall within twenty (24) hours after having received such telephone call or notice, or fails to report to work within ten (10) calendar days from the date of advising the Company of the Employee’s intent to return. Such mailing or email shall be to the last address or email address of the Employee that the Company has in its files for that Employee, and such mailings shall be deemed to have been received by the Employee. 10.05 No later than April 15th and September 15th, the Company will post a seniority lists for full time Employees, regular part time Employees and casual part time Employees, and provide a copy of same to the Local Union. The list will contain the following information for each Employee: – Name, – Classification, – Employee Number, – Bargaining Unit Seniority, expressed in terms of start date. 10.06 It shall be the responsibility of each individual Employee to ensure that their seniority as listed is correct. Employees shall have fourteen (14) days from the first day of posting to grieve for the purpose of having the seniority list corrected, after which time the list will not be changed. 10.07 When two (2) or more Employees have the same Bargaining Unit Seniority, their position on the seniority list shall be determined by drawing the names by lot. 10.08 Upon the return to work of an Employee who has been on an authorized leave of absence because of illness or injury, the Employee will return to their former position, if the position is still available and if the Employee is capable of performing the work, otherwise the Employee will be offered, in accordance with their seniority, other available work which the Employee is capable of performing, in accordance with this Article and the duty to accommodate. These obligations shall be subject to the Employee providing satisfactory evidence of ability from a Doctor.

  • Classification Seniority Classification Seniority" is defined as the length of service in a specific job classification within the bargaining unit, beginning with the date an employee starts to serve a probationary appointment. Classification Seniority shall be interrupted only by separation because of resignation, discharge for just cause, failure to return upon expiration of a leave of absence, failure to respond to a recall from layoff, or retirement.

  • Bargaining Unit Seniority The length of continuous service in a position or succession of positions within Bargaining Unit Two (2), beginning with the last date of hire or transfer into the Bargaining Unit, as defined by seniority credits.

  • Loss of Seniority An employee shall lose all seniority and shall be deemed terminated if: