Common use of EARLY RETIREMENT INCENTIVE AND LAY-OFF AND RECALL Clause in Contracts

EARLY RETIREMENT INCENTIVE AND LAY-OFF AND RECALL. a) Where the Employer deems it possible to offset the impact of the lay-off sequence (Article 7.02) through the offering of early retirement incentive to a faculty member (who qualifies as per Article 22.02 above), an incentive shall be offered if the cost of such incentive is the same as or no more than the cost that would be incurred through lay-off or transfer of another regular faculty member. b) Such offers may be made at any time during the year and need not be a part of the exercise described in Article 22.04 above. c) Advance notification of lay-off or transfer pursuant to Article 7 may be given to the affected regular faculty member while the faculty member to whom early retirement has been offered is considering that offer.

EARLY RETIREMENT INCENTIVE AND LAY-OFF AND RECALL. a) Where the Employer deems it possible to offset the impact of the lay-off sequence (Article 7.02) through the offering of early retirement incentive to a faculty member (who qualifies as per Article 22.02 above), an incentive shall be offered if the cost of such incentive is the same as or no more than the cost that would be incurred through lay-off or transfer of another regular faculty member. b) . Such offers may be made at any time during the year and need not be a part of the exercise described in Article 22.04 above. c) . Advance notification of lay-off or transfer pursuant to Article 7 may be given to the affected regular faculty member while the faculty member to whom early retirement has been offered is considering that offer.. April to March Page