Reclassification Defined Clause Samples

The "Reclassification Defined" clause establishes what constitutes a reclassification event within the context of the agreement. It typically outlines the specific circumstances or actions—such as changes in accounting standards, regulatory requirements, or internal company policies—that would trigger a reclassification of assets, liabilities, or other relevant items. By clearly defining what qualifies as a reclassification, this clause ensures all parties have a shared understanding, thereby reducing ambiguity and potential disputes regarding financial reporting or contractual obligations.
Reclassification Defined. 17.1.1 For purpose of this article, reclassification is the analysis of the existing job description against the actual duties being performed. A job reclassification may involve either an individual employee or all the employees within a classification, and will include an analysis of the appropriate relationship of the studied classification to those in the job family. The reclassification will include, but not be limited to: • An analysis of any new job duties with a significant increase in difficulty or a significantly higher level of responsibility; • An analysis of tasks not contemplated in the job description. • An increase in the workload is not part of a reclassification.
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Reclassification Defined. A reclassification is a change in job description and/or job title of a position within the City service to accommodate materially changed job duties not anticipated in the original classification and assigned or directed to be performed by the City, but not to include duties voluntarily assumed by any employee.
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Reclassification Defined. 16.1.1 Reclassification: Management Rights It is understood and agreed that the District maintains its authority to determine, direct, supervise, and manage positions and job descriptions to the fullest extent of the law. The Board retains the right to hire, classify and assign employees. 16.1.2 Reclassification: Organizational Rights It is understood and agreed that the Union shall be provided with the opportunity to meet and confer regarding all reclassification requests, job studies, job description updates and/or changes and the development of new job descriptions/classifications pertaining to the represented classified unit prior to any change being approved and/or implemented. 16.1.3 Reclassification: Purpose
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Related to Reclassification Defined

  • 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.

  • 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.

  • 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.

  • 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.

  • 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).