Common use of Early Notice Incentive Clause in Contracts

Early Notice Incentive. ASF Members who elect to separate from employment after at least fifteen (15) years of service in Minnesota State or any of its predecessor systems shall receive an early notice incentive equivalent to 5% of the ASF Member's base salary for the period of the notice, subject to the provisions of this section. This incentive will be effective from the date the ASF Member submits a written letter of retirement or resignation through the effective date of separation. Such notice must be provided a minimum of one hundred eighty (180) calendar days but not more than three hundred sixty-five (365) calendar days in advance of the separation date.