AGREEMENT

 

 

 

 

 

Agreement Between

 

 

 

 

UNITED STEELWORKERS

 

AFL-CIO-CLC

 

On behalf of USW

 

AMALGAMATED LOCAL #4

 

 

 

and

 

 

 

ROCK OF AGES CORPORATION

 

Manufacturing Division

 

 

 

 

 

 

 

April 25, 2009 - April 29, 2011

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

AGREEMENT

 

by and between

 

Rock of Ages Corporation

 

and

 

United Steelworkers, AFL-CIO-CLC

 

 

 

 

 

 

 

 

April 25, 2009

 

 

 

 

TABLE OF CONTENTS

 

AGREEMENT ................................................................................................................................1

 

ARTICLE 1 Term ...........................................................................................................................1

 

ARTICLE 2 Hours of Work - Overtime ..........................................................................................1

            2.1 Regular Hours ...............................................................................................................1

            2.2 Maintenance Men ..........................................................................................................1

            2.3 Saturday and Sunday Pay..............................................................................................2

            2.4 Extra Shift .....................................................................................................................2

            2.5 Miscellaneous ...............................................................................................................2

 

ARTICLE 3 Layoff Job Opportunity ...............................................................................................3

            3.1 Layoff Job Opportunity.................................................................................................3

 

ARTICLE 4 Wages ..........................................................................................................................3

            4.1 Wage Increases and Minimum Wages ..........................................................................3

            4.2 Employment ..................................................................................................................4

            4.3 Wage Negotiations ........................................................................................................4

            4.4 Wage Adjustment..........................................................................................................5

            4.5 Transfers .......................................................................................................................5

            4.6 Infirm Employees..........................................................................................................5

            4.7 Payment of Wages ........................................................................................................5

            4.8 Workers' Compensation ................................................................................................6

            4.9 Jury Duty .......................................................................................................................6

 

ARTICLE 5 Military Service ...........................................................................................................6

            5.1 Military Service ............................................................................................................6

 

ARTICLE 6 Holiday Pay .................................................................................................................6

            6.1 Paid Holidays ................................................................................................................6

            6.2 Eligibility ......................................................................................................................7

            6.3 Holiday Work ................................................................................................................8

            6.4 Holiday Change ............................................................................................................8

            6.5 Holiday Premium ..........................................................................................................8

 

ARTICLE 7 Vacations......................................................................................................................8

            7.1 Vacation Period ..............................................................................................................8

            7.2 Vacation Payments..........................................................................................................9

            7.3 Requirements ..................................................................................................................9

            7.4 Amount of Vacation .......................................................................................................10

            7.5 Severance of Employment .............................................................................................12

 

i

 

ARTICLE 8 Bereavement/Birth of a Child .....................................................................................12

            8.1 Five (5) Day Bereavement ...........................................................................................12

            8.2 Three (3) Day Bereavement .........................................................................................12

            8.3 Internment ....................................................................................................................12

            8.4 One (1) Day Bereavement ............................................................................................13

            8.5 Birth or Adoption of a Child ..........................................................................................13

            8.6 Bereavement While on Vacation ....................................................................................13

 

ARTICLE 9 Insurance .....................................................................................................................13

            9.1 Insurance .......................................................................................................................13

            9.2 Benefits ..........................................................................................................................13

            9.3 Contributions...................................................................................................................15

            9.4 Disability .........................................................................................................................15

            9.5 Retired Employees ..........................................................................................................15

            9.6 Consultant .......................................................................................................................16

            9.7 Insurance Objectives .......................................................................................................16

            9.8 Delinquency ....................................................................................................................16

 

ARTICLE 10 Pension Plan Agreement ..............................................................................................16

            10.1 Merger of the Pension Plan ..............................................................................................16

            10.2 Incorporated Documents...................................................................................................16

            10.3 Contribution Rate.............................................................................................................17

            10.4 Covered Employees .......................................................................................................17

            10.5 Hours Worked................................................................................................................17

            10.6 Payment of Contribution..................................................................................................17

            10.7 Coverage - Newly Hired Employees Not Previously Covered.........................................17

            10.8 Coverage - Newly Hired Employees Who Were Previously Covered..............................17

            10.9 Contribution Reports and Data.......................................................................................17

            10.10 Delinquent Employers..................................................................................................18

 

ARTICLE 11 401K Plan .................................................................................................................18

            11.1 401K Plan....................................................................................................................18

 

ARTICLE 12 Notices ....................................................................................................................18

            12.1 Bulletin Boards ...........................................................................................................18

            12.2 Holiday Notice ...........................................................................................................18

            12.3 Emergencies ...............................................................................................................18

            12.4 Plant Bidding ..............................................................................................................18

            12.5 Union Postings ............................................................................................................19

 

ARTICLE 13 Layoff, Recall, Reinstatement After On-the-Job Injury ..................................................19

            13.1 Layoff and Recall ...........................................................................................................19

            13.2 Layoffs...........................................................................................................................20

            13.3 Layoff Job Opportunity...................................................................................................20

            13.4 Seniority.........................................................................................................................21

            13.5 Seniority Roster .............................................................................................................21

 

ii

 

 

ARTICLE 14 Union Security .........................................................................................................21

            14.1 Union Security ...........................................................................................................21

 

ARTICLE 15 Check-off ................................................................................................................21

            15.1 Check-Off .................................................................................................................21

            15.2 Union Copy ...............................................................................................................21

            15.3 Dues Penalty ..............................................................................................................22

            15.4 Journeyman Dues .......................................................................................................22

            15.5 Sign-Ups ....................................................................................................................22

 

ARTICLE 16 Dispute Settlement ...................................................................................................22

            16.1 Dispute Settlement .....................................................................................................22

            16.2 Company Grievances .................................................................................................23

            16.3 Signed Grievances ......................................................................................................23

            16.4 Rules ..........................................................................................................................23

 

ARTICLE 17 Plant Access ............................................................................................................24

            17.1 Plant Access ..............................................................................................................24

 

ARTICLE 18 Nondiscrimination ....................................................................................................24

            18.1 Non Discrimination ....................................................................................................24

 

ARTICLE 19 Public Insurance ......................................................................................................24

            19.1 Reinstatement to Job .................................................................................................24

            19.2 Unemployment/Workers Compensation ....................................................................24

 

ARTICLE 20 Mutual Cooperation ................................................................................................25

            20.1 Mutual Cooperation ..................................................................................................25

 

ARTICLE 21 Labor Management Team .......................................................................................25

            21.1 Labor-Management Team (LMT) .............................................................................25

 

ARTICLE 22 Safety Measures ......................................................................................................26

            22.1 Safety Glasses ...........................................................................................................26

            22.2 Miscellaneous ............................................................................................................26

            22.3 Plant Heat .................................................................................................................27

            22.4 Consultation and Enforcement ....................................................................................27

            22.5 Legal Obligations .......................................................................................................27

 

ARTICLE 23 Probationary Period .................................................................................................28

            23.1 Probationary Period ...................................................................................................28

 

ARTICLE 24 Apprentices .............................................................................................................28

            24.1 Apprentices ...............................................................................................................28

            24.2 Reduction of Work ....................................................................................................28

            24.3 Apprentice Wages .....................................................................................................28

 

iii

 

 

ARTICLE 25 Leaves of Absence ...................................................................................................28

            25.1 General Leave of Absence - Leave .............................................................................28

            25.2 Union Leave................................................................................................................29

            25.3 Presidential - Executive Board Leave...........................................................................29

 

ARTICLE 26 Discipline/Discharge .................................................................................................29

            26.1 Discipline/Discharge ...................................................................................................29

            26.2 Written Warnings .......................................................................................................29

 

ARTICLE 27 Interdivisional Maintenance Work .............................................................................29

            27.1 Interdivisional Maintenance Work ...............................................................................29

 

ARTICLE 28 Subcontracting .........................................................................................................30

            28.1 Subcontracting ...........................................................................................................30

 

ARTICLE 29 Management's Rights ................................................................................................30

            29.1 Management's Rights ..................................................................................................30

 

SIGNATURES...............................................................................................................................31

 

CALENDAR OF HOLIDAYS.......................................................................................................32

 

 

 

 

 

 

 

 

 

 

 

 

iv

AGREEMENT

Agreement entered into as of April 25, 2009 by and between the ROCK OF AGES CORPORATION of Graniteville, Vermont (the Company) its successors and assigns and the UNITED STEELWORKERS, AFL‑CIO‑CLC on behalf of USW Amalgamated Local #4 (the Union).  In consideration of the mutual covenants herein contained, it is agreed as follows:

ARTICLE 1

Term

This Agreement shall be effective April 25, 2009 and shall continue in full force and effect through April 29, 2011 and from year to year thereafter, unless either party gives notice to the other, not less than sixty (60) days prior to April 29, 2011 or prior to April 29 of any year thereafter, that it desires to alter, amend or terminate any or all of the terms hereof.

ARTICLE 2

Hours of Work ‑ Overtime

2.1 Regular Hours

(a)  Eight (8) hours shall constitute a day's work, five (5) days shall constitute a week's work, Monday to Friday inclusive.  Daily working hours will begin no earlier than 7:00 a.m. and end no later than 3:30 p.m., except as follows:  The hours of operations may be changed by a majority vote of each union and agreed to by the company.

(b)  All work done outside the working hours as prescribed above and work done during the regular lunch period shall be paid at time and one‑half.

(c)  Overtime will be distributed as equitably as is practicable and will be assigned to employees based on such factors as who regularly works in the areas, who regularly performs the work and special circumstances.  Refusal of overtime shall not preclude a man from future overtime.  However, any refused hours will be included when determining equitable distribution.

Whenever possible, weekday overtime requests will be made no later than noon on the preceding day, and weekend requests will be made by noon on Thursday.  If there are not sufficient volunteers, employees are to be assigned on the basis of inverse seniority, subject to demonstrated ability to perform the work on those shifts.

 (d) An employee and an employer may, by mutual agreement, arrange a schedule for the employee which differs from the general schedules set forth in this Article.  The Union will be notified of such arrangement.  No such arrangement shall extend for more than two (2) weeks unless approved by the Union.

2.2 Maintenance Men

            The working day for maintenance men, regularly employed as such, shall be of eight (8) hours' duration to be worked between 7:00 a.m. and 3:30 p.m. and the working week shall be of forty (40) hours' duration to be worked from Monday to Friday, inclusive.  The overtime rate shall be at time and one‑half for all hours worked over any continuous eight (8) hour period, excluding lunch hour.  The lunch hour of thirty (30) minutes is to be taken at the option of the employee.

1

 

2.3 Saturday and Sunday Pay

 

All work done on Saturday shall be paid at time and one‑half.  Work shall be regarded as being performed on Saturday only if an employee's shift begins on Saturday.  Work done on Sunday shall be paid at double time.

 

2.4 Extra Shift

 

(a)  It is agreed that the Company shall have the privilege of operating three (3) shifts.  One (1) shift is to be the established working day and to be paid as per Article 4 of this Agreement.  The second (2nd) and third (3rd) shifts shall be of eight (8) hours' duration including a one‑half (1/2) hour meal period which will be paid.  In addition to payment for work performed in accordance with Article 4 of this Agreement, employees and apprentices working on the second (2nd) or third shift shall receive a shift premium of One Dollar and Seventy-five Cents ($1.75) per hour.

 

(b)  The Company shall not require any employee to work alone unless a telephone is readily available on the premises and a beeper with an automatic safety call‑in every fifteen (15) minutes unless deactivated by the employee.  

 

2.5 Miscellaneous

 

(a)  Saturday Work.  It is mutually agreed that work done on Saturday by grouters, tool grinders and saw helpers shall not include any crane operation, boxing, or mechanical repair work.

 

(b)  Regular Lunch Period.  No work is to be done during the regular lunch period except in a case of emergency where it is necessary.  If the Company desires to change the regular lunch period from one (1) hour to one‑half (1/2) hour, the Company has the option to make such change if a majority of the employees represented by this Union and a majority of the employees represented by any other local Union, voting separately in a vote conducted by the respective Union representatives, approve that change in hours.

 

(c)  Notice of Absence.  Employees are obligated to give notice, as soon as possible, to the Company on the day they are unable to report for work.  This should be done as soon as possible and include the reason for absence or lateness. An absence for three (3) consecutive scheduled workdays without notifying the Company will subject the employee to discipline, up to and including discharge.

 

(d)  Report Pay.  In the absence of a notice not to report to work, should any employee report to work and be discharged before work begins or during the first two (2) hours of the day, he shall be paid no less than two (2) hours' pay.

 

(e)  In assigning employees to work on the second (2nd) and/or third (3rd) shift, the Company shall first seek volunteers with preference being given on the basis of length of service (seniority) with the Company subject to demonstrated ability to perform the work on those shifts.  If there are not sufficient volunteers, employees shall be assigned on the basis of inverse seniority, subject to demonstrated ability to perform the work on those shifts.

 

 

 

 

2

 

ARTICLE 3

 Layoff Job Opportunity

3.1 Layoff Job Opportunity

In the event of a layoff of employees covered by this contract and if the Company has need for additional manpower in any of its other divisions in Barre or Bethel, the Company will offer these positions to the laid‑off employees by seniority subject to ability and physical fitness and a sixty (60) day probationary period.  The employee selected may accept the position offered or elect to take the layoff.  During the probationary period, the successful employee may revert to layoff status at his option.  If the position available is covered by a different contract, the employee shall not be required to change groups unless he is not returned to his former position within twelve (12) months.  The employees shall suffer no loss of seniority for such assignment when he is returned to his former position.  Employees will be returned to their former positions by seniority if and when work becomes available.

It is contemplated that the employees choosing to work in a new division will be assigned entry level positions.  If the employee is assigned to a classification higher than laborer, grouter, plant sweeper, tool grinder or quarryman, the employee shall not hold the position for more than sixty (60) days without the consent of the Union.  Those accepting assignment in another division will be the lowest in seniority in that division.  If an employee does not honor a recall notice to his former position, or is employed in the new division for more than twelve (12) months, his seniority in his prior division shall be lost and his seniority date in his new division shall be his start date with that division except if otherwise agreed by the Company and Union.

The Company and the Union agree that as a new and untested provision, either the Union or the Company may cancel this provision with thirty (30) days' prior written notice of cancellation.

ARTICLE 4

Wages

4.1 Wage Increases and Minimum Wages

(a)  Effective April 26, 2009 each employee in the bargaining unit shall receive the following minimum wage rates:

April 26,2009

Group A

Drivers‑Permanently assigned over‑the‑road

(Barre area), 10‑wheel, carrying blocks

or slabs over 15 tons, with a majority of

time spent in such over‑the‑road driving  ........................................................$19.00

 

 

 

 

3

 

 

Group B

Maintenance  ....................................................................................................$18.80

 

Group C

Lumpers/crane operators, Boxer/Washstand, Grouter, Plant Sweeper

Fork Lift Operator, Yardman, Shipper, Tool Grinder, Saw Helper

 Light Truck Drivers  .......................................................................................$18.70

 

Note:  all existing employees grandfathered at existing pay levels if over new minimums.

(b)  Effective May 2, 2010 each employee in the bargaining unit shall receive a wage increase of fifty cents ($.50) per hour, and the minimum wage rate shall be as follows:

 

May 2, 2010

 

Group A

Drivers‑Permanently assigned over‑the‑road

(Barre area), 10‑wheel, carrying blocks

or slabs over 15 tons, with a majority of

time spent in such over‑the‑road driving  .....................................................$19.50

 

Group B

Maintenance  .................................................................................................$19.30

 

Group C

Lumpers/crane operators, Boxer/Washstand, Grouter, Plant Sweeper

Fork lift operators, Yardman, Shipper, Tool Grinder, Saw Helper

Light Truck Drivers  .....................................................................................$19.20

 

(c) Apprentice wage rates shall be the following percentage of the applicable journeyman rate:

 

Start:                           70%                 After 6 months:           90%

After 3 months:           80%                 After 1 year:                100%

 

4.2 Employment

 

It is mutually agreed and understood between the Company and the Union that employment on a weekly basis shall not be permitted in any plant covered by this Agreement unless agreed upon by the Union.

 

4.3 Wage Negotiations

 

        It is mutually agreed by both parties that types of labor performed for which no classification or minimum wage rates have been fixed can at any time be opened by either party and submitted to the Labor Management Team (LMT) of the Union and the Company.  The decisions of the LMT under this Article shall be subject to ratification by the Company and the Union.  If the LMT fails to agree or if the Agreement is not ratified by both parties, either party may invoke arbitration within twenty (20) calendar days after the LMT has failed to agree or the parties have failed to ratify, as the case may be.  The arbitration procedure will otherwise be in accordance with Article 16.1 beginning at Step 4.

4

 

4.4 Wage Adjustment

If at any time during the existence of this Agreement an increase should be granted, any employee receiving more than the minimum wage as provided in this Agreement should receive the same wage adjustments but for no reason shall his wages be reduced before making said adjustments.

4.5 Transfers

When a employee, except an apprentice, is required to fill the place of another employee receiving a higher rate of wages, under Article 4, he shall receive the higher contract rate while performing these duties, but if required to fill the place of another employee receiving a lower rate, for a period of thirty (30) days his rate will not be changed.

            The Union understands that there is a need for flexibility within the Company to assure for an efficient operation.  The Company and Union agree that the Company may assign employees from one plant to work "temporarily" in another plant.  The word "temporary" is understood and agreed to mean the limited covering for sickness, vacations, injuries, operational emergencies and/or the scope and/or the duration of a particular project or projects.  It is not the intent of the Company to use temporary assignments as a means to replace or displace an employee in one plant with an employee from another plant.  In the event the Union believes that the Company has not complied with this provision, the Union may bring the situation in question to the Labor-Management Team ("LMT") for resolution.  If the matter cannot be resolved by the LMT, the Union shall have the right to grieve it.

4.6 Infirm Employees

Employees who through infirmity or other reasons are not able to earn the wage given in this Agreement may work for such wages as may be satisfactorily agreed upon between the Union representative, the employee and the Company.

4.7 Payment of Wages

(a)  Wages may be paid by cash or check in an envelope at the option of the Company.  In the event of a default in payment of such check by the Company, such option shall be revoked and payment shall thereafter be in cash.  Wages to be paid in full weekly and within five (5) days of the time they become due, and to be paid during working hours; not more than five (5) days to be retained.

(b)  Any employee discharged shall receive his pay immediately.  Any employee leaving shall notify the Company and having complied with this requirement shall receive his pay in cash or check on the regular pay day for the week of separation in person or by mail at the option of the employee.

(c)  The Company shall be required to furnish employees with written information weekly which shall designate the total earnings, total withholdings, number of hours worked at straight time and number of hours at overtime and rate of pay.

 

 

5

 

4.8 Workers' Compensation

 

If an employee has to leave work because of a workers' compensation injury and is unable to return, he shall suffer no loss of straight time pay for that day.

 

4.9 Jury Duty

 

An employee who is required to report for jury duty on a day when he otherwise would have worked shall receive regular straight‑time pay for up to a maximum of thirty (30) days per calendar year.  The Company can require verification of jury duty served.  It is understood that if an employee is released from jury duty so that he can reasonably report for work at least three (3) hours before the end of his scheduled shift, he must report for work that day.

 

ARTICLE 5

Military Service

 

5.1 Military Service

 

Employees' rights shall not be forfeited because of service with the Government during national emergencies.  The Company agrees to abide by national laws covering rehiring of veterans.

 

ARTICLE 6

Holiday Pay

 

6.1 Paid Holidays

 

(a)  There shall be up to 11 paid holidays.  The paid holidays shall be:  the day preceding Town Meeting Day, Town Meeting Day, Memorial Day, July Fourth, Labor Day, Veterans' Day, Thanksgiving Day, Friday after Thanksgiving Day and Christmas Day, and shall be paid regardless of whether the holiday falls on a Saturday or Sunday.  In addition, there shall be a paid holiday for New Year's Day, subject to the following terms and conditions.  To be eligible for this holiday, an employee must satisfy all eligibility requirements of this Article.  In addition, the employee must work during the week in which the New Year's holiday falls.  Payment of the Christmas holiday does not affect eligibility for the New Year's holiday.  There shall be a paid holiday for Rock of Ages Employee Appreciation Day to be observed by all employees on the Tuesday following Labor Day holiday.  The holidays will be observed during the term of this contract on the dates shown on the attached Calendar of Holiday Observances. .  In the event the Veteran's Day holiday shown on the attached Calendar does not fall on the designated National holiday, employees may take paid vacation or unpaid personal time to attend Veteran's Day observances given notice to management of at least one week.

 

(b)  If a holiday falls on Saturday or Sunday, it shall be observed on the following Monday, in accordance with the holiday calendar attached hereto.

 

(c)  Employees who are laid off during either of the weeks in which Town Meeting days or Thanksgiving falls shall not be eligible for holiday pay in those weeks.  Instead, such employees must as individuals report to work on the first (1st) work day following the conclusion of any such layoff and such employees may collectively and mutually agree with the Company on days when they will, as a group, take personal days off with pay if they were otherwise eligible for the holiday pay.  Such personal days must be taken within thirty (30) days after the first work day following the conclusion of the layoff in question and if mutual agreement is not reached, the employees will receive pay in lieu of any holidays to which they were entitled.

 

6

 

(d)  An employee absent because of an off-the-job accident or sickness who is receiving sickness and accident benefits will be paid his regular-wage holiday pay in lieu of his daily sickness and accident benefit.

6.2 Eligibility

(a)  The employee must have at least thirty (30) working days accumulated service to be eligible for paid holidays.  After completing thirty (30) working days' service any paid holiday that fell within the thirty (30) working day period becomes payable.  If an employee quits before he has accumulated thirty (30) working days' service, no holiday pay is due.  If he is laid off or is discharged through no fault of his own before he has accumulated thirty (30) working days' service, any holiday which fell within the period of his employment and discharge becomes due and payable.

(b)  Subject to the provisions of 6.1 (c), any employee who works to within four (4) working days of a paid holiday and who has thirty (30) working days' accumulated service with the Company and is then discharged or laid off will receive nevertheless the holiday pay.

(c)  When a holiday falls in an employee's vacation week, the employee shall receive pay for that day at straight time in addition to vacation pay.

(d)  During the week of a paid holiday, the employee must work a minimum of a full scheduled work week excluding the holiday or holidays less one (1) scheduled workday.  Exceptions to the above ruling can be made only by prior arrangements with the Company.  Sickness during the week of a holiday shall not disqualify an employee if he has notified the Company.

(e)  No employee shall be entitled to the holiday pay as provided in this Article if such employee is not working and is receiving compensation or benefits during such period in which he is not working, whether he is receiving such compensations or benefits under the State Unemployment Compensation Act, State Workers Compensation Act , Granite Group Insurance Trust, or from any similar source to which the Company contribute except as provided for under Article 6, subsection 6.1(d). Apprentices are eligible for paid holidays.

 

6.3 Holiday Work

 

Work done on the following holidays, namely, January 1st, the day preceding Town Meeting Day, Town Meeting Day, Memorial Day, July Fourth, Labor Day, Employee Appreciation Day, Veterans Day, Thanksgiving Day, Friday after Thanksgiving Day and Christmas Day, shall be paid as double time.

 

6.4 Holiday Change

In the event of a state or federal law affecting the date on which holidays are celebrated, the parties hereto will negotiate with respect to appropriate changes in this Article with the understanding that the number of holidays shall remain the same as set forth above.

 

7

 

 

6.5 Holiday Premium

 

Any paid days off to which an employee is entitled under this Article shall include second (2nd) and/or third (3rd) shift premiums, as the case may be, if the employee is assigned to such shift on the day(s) for which he is entitled to such pay.

 

 

ARTICLE 7

Vacations

 

 

7.1 Vacation Period

 

(a)  The vacation period shall be May 1 to April 30, subject to the following conditions:  In the event of a shutdown, the employee can defer his vacation to another date mutually agreed upon with his employer, in which case the Company shall notify the Union of the employees' names and deferred vacation dates; if there is a conflict in dates among employees seeking the same vacation time, seniority shall govern unless the Company can show that the senior employee's presence in the requested period is indispensable.  Employees who are entitled to vacation who are scheduled to perform maintenance work may schedule and take vacations in accordance with existing practices.  (The practice of permitting an employee to take a leave of absence without pay will be continued.)

 

(b)  Beginning in 2010, employees will be required to use a full week of vacation during the week of July 4 ^th if the company chooses to shut down that week.

 

(c)  An employee must take at least one (1) week's vacation away from the job per contract year unless otherwise mutually agreed by the Company and the employee and approved by the Union.

 

(d)  Employees must apply for vacations in writing prior to March 1.  The company will notify employees of their intention to close the plant for the week of July 4 ^th prior to the March 1 ^st vacation request deadline.  Written rejection stating the reason why in accordance with 7.1(a) shall be returned to the employee by March 15th or the vacation requested shall be deemed approved.

 (e) Subject to the advance approval of management (which approval shall not be un