Layoff resulting from Technological Change Sample Clauses

The "Layoff resulting from Technological Change" clause defines the procedures and rights of both the employer and employees when job losses occur due to the introduction of new technology. Typically, this clause outlines the employer's obligations to provide advance notice, retraining opportunities, or severance pay to affected employees. Its core function is to ensure that employees are treated fairly and given support when their positions are eliminated as a result of technological advancements, thereby providing clarity and mitigating the impact of such changes.
Layoff resulting from Technological Change. If an employee laid off or displaced as a result of technological change is qualified and suitable for another vacant position within the bargaining unit, the employee will be given the right of first refusal to fill the position. Employees laid off or displaced as a result of technological change shall be provided with opportunities for retraining to qualify for available vacant positions within the bargaining unit. A Technological Change Committee will be established with equal representation between the College and the Faculty Association to determine the extent and nature of retraining to be offered. The provisions of Article 5 will apply to any employee who is laid off as a result of technological change.
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Layoff resulting from Technological Change 
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Related to Layoff resulting from Technological Change

  • Potential Change in Control A “Potential Change in Control” shall exist during any period in which the circumstances described in paragraphs (a), (b), (c) or (d), below, exist (provided, however, that a Potential Change in Control shall cease to exist not later than the occurrence of a Change in Control): (a) The Company enters into an agreement, the consummation of which would result in the occurrence of a Change in Control, provided that a Potential Change in Control described in this paragraph (a) shall cease to exist upon the expiration or other termination of all such agreements; (b) Any Person (without regard to the exclusions set forth in subsections (i) through (iv) of such definition) publicly announces an intention to take or to consider taking actions the consummation of which would constitute a Change in Control; provided that a Potential Change in Control described in this paragraph (b) shall cease to exist upon the withdrawal of such intention, or upon a determination by the Board that there is no reasonable chance that such actions would be consummated; (c) Any Person becomes the Beneficial Owner, directly or indirectly, of securities of the Company representing 20% or more of either the then outstanding shares of common stock of the Company or the combined voting power of the Company’s then outstanding securities; (d) The Board adopts a resolution to the effect that, for purposes of this Agreement, a Potential Change in Control exists; provided that a Potential Change in Control described in this paragraph (d) shall cease to exist upon a determination by the Board that the reasons that gave rise to the resolution providing for the existence of a Potential Change in Control have expired or no longer exist.

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