Common use of Financial Exigency Clause in Contracts

Financial Exigency. 28.1 The Parties agree that the process of long-range planning should obviate the possibility of a financial exigency occurring. The Parties further agree that in the event of a financial exigency, in view of the ramifications to the careers of academic staff members, an orderly and equitable way of dealing with the situation is essential. Finally, the Parties agree that, in the event of a financial exigency, the process outlined in the Financial Exigency article of the FNUniv/URFA Academic Staff Agreement will be followed. 28.2 As soon as the University perceives that a financial exigency exists, it will convey this information to the Faculty Association in writing, indicating the nature of the problem, its probable magnitude and impact on the careers of members of the academic staff. 28.3 The Faculty Association, through its representatives, shall be fully consulted by the University officers concerned and shall be provided with detailed financial and budgetary information together with such long-range projections as may be prepared by the University in the course of its long range forecasting and planning process. 28.4 The Faculty Association shall be entitled to receive, in writing, information concerning the nature of the financial exigency, the deficiency created by the financial exigency in monetary terms, the extent to which the financial exigency will be borne by reduction in the number of academic staff members and the portion to be borne by each faculty, or similar academic unit. 28.5 In the event that an Exigency Review Committee is formed under the provisions of the FNUniv/URFA Academic Staff Agreement, a Sessional Academic Staff Member may be named by the Chair of the Faculty Association as a member of the Committee. 28.6 A deficiency, expressed in monetary terms, shall be allocated to each department and similar academic unit and the President shall notify the Faculty Association accordingly of the recommendation which is to be made to the Board. The President's notification shall include specific proposals for meeting the deficiency, including proposals about any appointments to be terminated, with the reasons clearly given for such proposals. Such reasons shall be consistent with the long range plans for the University and to the greatest extent possible with the collegial consensus about how to respond to the exigency. Such reasons shall not be merely financial nor based in a mechanical way upon juniority or seniority. Individuals, units, departments have 30 days from the receipt of the President's notification to respond, before the decision to discontinue is finalized by the Board upon the recommendation of the President. In the event of a financial exigency which will result in vertical or horizontal cuts, Sessional Academic Staff Members shall be given the maximum amount of notice possible. Sessional Academic Staff Members who have taught a minimum of fifteen (15) three credit hour classes (or equivalent) during the previous five (5) years shall receive the balance of the current semester, plus 10% of the Sessional Academic Staff Member stipend for their current rank for each of the classes taught during the previous five (5) years.

Financial Exigency. 28.1 The Parties agree 20.01 Financial exigency denotes a continuous and extreme financial crisis that the process cannot be met through routine measures. 20.02 It is agreed that a state of long-range planning should obviate the possibility of a financial exigency occurring. The Parties further agree that shall not be declared until the Corporation and APBU have jointly made representation to the government of Quebec in the event an attempt to obtain whatever funds are required to avert a state of a financial exigency, in view of the ramifications to the careers of academic staff members, an orderly and equitable way of dealing with the situation is essential. Finally, the Parties agree that, in the event of a financial exigency, the process outlined in the Financial Exigency article of the FNUniv/URFA Academic Staff Agreement will be followed. 28.2 As soon as the University perceives 20.03 The Corporation, believing that a state of financial exigency exists, it will convey this information shall impose a halt to hiring new employees at all levels, and shall form with the APBU a Budgetary Commission whose initial task shall be to determine whether or not a state of financial exigency does indeed exist and so to report to the Faculty Association in writing, indicating Corporation. The official announcement of financial exigency shall be made by the nature Corporation only on the advice of the problem, its probable magnitude Budgetary Commission. The Budgetary Commission shall have complete access to relevant records for the purpose of determining whether financial exigency exists. 20.04 The Budgetary Commission shall consist of two representatives appointed by the Corporation and impact on two representatives appointed by the careers APBU. 20.05 The Budgetary Commission shall be charged with identifying sources of members financial difficulty and recommending to the Corporation means to alleviate these difficulties. Such recommendations shall include but are not limited to: fiscal management of the academic University, deficit financing, new initiatives in increasing revenues, termination of non-professional appointments of the Library, athletics, and administrative staff, early retirement, redeployment or termination of the appointments of Members. 28.3 20.06 The Faculty AssociationBudgetary Commission shall consult fully with the Senate, through the Corporation, and the APBU. 20.07 All documents and minutes of the Budgetary Commission shall be forwarded to the Senate, the Corporation, and the APBU, along with its representativesrecommendations. 20.08 The Corporation shall decide, on recommendation of the Budgetary Commission any reduction in the amount assigned to the total librarians salary budget, and the Budgetary Commission shall determine which Members are to be affected by this reduction. 20.09 Taking into account the size and distribution of the librarians necessary to retain the viability of the Library, the Budgetary Commission, after full consultation with the affected Members, shall specify, giving detailed reasons in writing for its specifications, those Members whose appointments are to be fully consulted by the University officers concerned and shall be provided with detailed financial and budgetary information together with such long-range projections as may be prepared by the University in the course terminated for reasons of its long range forecasting and planning process. 28.4 The Faculty Association shall be entitled to receive, in writing, information concerning the nature of the financial exigency, the deficiency created by the financial exigency in monetary terms, the extent to which the financial exigency will be borne by reduction in the number of academic staff members and the portion those Members who are to be borne by each facultyredeployed and/or retrained, or similar academic unit. 28.5 In the event that an Exigency Review Committee is formed under the provisions of the FNUniv/URFA Academic Staff Agreement, a Sessional Academic Staff Member may be named by the Chair of the Faculty Association as a member of the Committee. 28.6 A deficiency, expressed in monetary terms, shall be allocated to each department and similar academic unit and the President shall notify the Faculty Association accordingly of the recommendation which is to be made to the Board. The President's notification shall include specific proposals for meeting the deficiency, including proposals about any appointments to be terminated, with the reasons clearly given for such proposals. Such reasons shall be consistent with the long range plans for the University and to the greatest extent possible with the collegial consensus about how to respond to the exigency. Such reasons shall not be merely financial nor based in a mechanical way upon juniority or seniority. Individuals, units, departments have 30 days from the receipt of the President's notification to respond, before the decision to discontinue is finalized by the Board upon the recommendation of the President. In the event of a financial exigency which will result in vertical or horizontal cuts, Sessional Academic Staff Members shall be given the maximum amount of notice possible. Sessional Academic Staff those Members who have taught a minimum of fifteen (15) three credit hour classes (or equivalent) during the previous five (5) years shall receive the balance of the current semester, plus 10% of the Sessional Academic Staff Member stipend for their current rank for each of the classes taught during the previous five (5) yearsretire early.

Financial Exigency. 28.1 The Parties agree 19.01 Financial exigency denotes a continuous and extreme financial crisis that the process cannot be met through routine measures. 19.02 It is agreed that a state of long-range planning should obviate the possibility of a financial exigency occurring. The Parties further agree that shall not be declared until the Corporation and the Association have jointly made representation to the Government of Quebec in the event an attempt to obtain whatever funds are required to avert a state of a financial exigency, in view of the ramifications to the careers of academic staff members, an orderly and equitable way of dealing with the situation is essential. Finally, the Parties agree that, in the event of a financial exigency, the process outlined in the Financial Exigency article of the FNUniv/URFA Academic Staff Agreement will be followed. 28.2 As soon as the University perceives 19.03 The Corporation, believing that a state of financial exigency exists, it will convey this information shall impose a halt to hiring new employees at all levels, and shall form with the Association a Budgetary Commission whose initial task shall be to determine whether or not a state of financial exigency does indeed exist and so report to the Faculty Association in writing, indicating Corporation. The official announcement of financial exigency shall be made by the nature Corporation only on the advice of the problem, its probable magnitude Budgetary Commission. The Budgetary Commission shall have complete access to relevant records for the purpose of determining whether financial exigency exists. 19.04 The Budgetary Commission shall consist of two representatives appointed by the Corporation and impact on two representatives appointed by the careers Association. 19.05 The Budgetary Commission shall be charged with identifying sources of members financial difficulty and recommending to the Corporation means to alleviate these difficulties. Such recommendations shall include but are not limited to: fiscal management of the University, deficit financing, new initiatives in increasing revenues, termination of non-academic appointments of library, athletics, and administrative staff, early retirement, redeployment or termination of the appointments of members. 28.3 19.06 The Faculty Budgetary Commission shall consult fully with the Senate, the Corporation, and the Association. 19.07 All documents and minutes of the Budgetary Commission shall be forwarded to the Senate, the Corporation, and the Association, through along with its representativesrecommendations. 19.08 The Corporation shall decide, on recommendation of the Budgetary Commission, any reduction in the amount assigned to the total faculty salary budget, and the Budgetary Commission shall determine which members are to be affected by this reduction. 19.09 With the academic advice of Senate pertaining to the size and distribution of the Faculty necessary to retain the viability of Xxxxxx'x University, the Budgetary Commission, after full consultation with affected members, shall specify, giving detailed reasons in writing for its specifications, those members whose appointments are to be fully consulted by the University officers concerned and shall be provided with detailed financial and budgetary information together with such long-range projections as may be prepared by the University in the course terminated for reasons of its long range forecasting and planning process. 28.4 The Faculty Association shall be entitled to receive, in writing, information concerning the nature of the financial exigency, the deficiency created by the financial exigency in monetary terms, the extent to which the financial exigency will be borne by reduction in the number of academic staff those members and the portion who are to be borne by each facultyredeployed and/or retrained, or similar academic unit. 28.5 In the event that an Exigency Review Committee is formed under the provisions of the FNUniv/URFA Academic Staff Agreement, a Sessional Academic Staff Member may be named by the Chair of the Faculty Association as and those members who shall retire early. Articles 18.12 to 18.15 inclusive shall apply to a member of the Committee. 28.6 A deficiency, expressed in monetary terms, shall be allocated to each department and similar academic unit and the President shall notify the Faculty Association accordingly of the recommendation which who is to be made to the Boardredeployed or retrained for reasons of financial exigency. The President's notification shall include specific proposals for meeting the deficiency, including proposals about any appointments to be terminated, with the reasons clearly given for such proposals. Such reasons Early retirement shall be consistent with offered under the long range plans for the University and to the greatest extent possible with the collegial consensus about how to respond to the exigency. Such reasons shall not be merely financial nor based in a mechanical way upon juniority or seniority. Individuals, units, departments have 30 days from the receipt of the President's notification to respond, before the decision to discontinue is finalized by the Board upon the recommendation of the President. In the event of a financial exigency which will result in vertical or horizontal cuts, Sessional Academic Staff Members shall be given the maximum amount of notice possible. Sessional Academic Staff Members who have taught a minimum of fifteen (15) three credit hour classes (or equivalent) during the previous five (5) years shall receive the balance of the current semester, plus 10% of the Sessional Academic Staff Member stipend for their current rank for each of the classes taught during the previous five (5) years.conditions specified

Financial Exigency. 28.1 22.1 The Parties agree first duty of the University must be to ensure that its academic priorities remain paramount, particularly in regard to the process quality of long-range planning should obviate the possibility of a financial exigency occurringinstruction and research. The Parties further agree that Governors, when faced with budgetary restrictions, will ensure the primacy of the University's educational functions by considering cuts in academic programs or resultant cuts of Board appointments only after all practicable cuts have been made in all other budgetary areas of the University. 22.2 A substantial financial deficiency which may result in the event of a financial exigency, in view necessity of the ramifications to the careers termination of academic staff members, an orderly and equitable way shall be deemed to be financial exigency for the purpose of dealing with the situation is essentialthis Article. FinallyHowever, the Parties agree that, in the event termination due to lack of funding of staff members holding contingent appointments shall not constitute financial exigency. 22.3 Before declaring a state of financial exigency, the process outlined Governors shall consult with the Association and shall supply the Association with all budgetary information used by the Governors in considering the Financial Exigency article need for such a declaration. 22.4 If the Association wishes to offer for the Governors’ consideration, suggestions designed to avoid the termination of staff, it shall do so not more than thirty (30) calendar days after being advised of the FNUniv/URFA Academic Staff Agreement financial problem. Such suggestions will be followedbecome the subject of immediate discussion between the Governors and the Association for a period not to exceed thirty (30) calendar days. 28.2 As soon as 22.5 If, following these discussions, the Governors conclude that the financial problem has not been resolved, it shall appoint an ad hoc committee of three (3) members of the Governors to identify the nature and scope of the problem. The Governors shall also appoint advisors to the committee selected from the University perceives that a financial exigency exists, it will convey this information to community and from the community at large. The advisors selected from the University community shall include the President of the Faculty Association in writing, indicating the nature of the problem, its probable magnitude and impact on the careers of two (2) other members of the academic staffAssociation nominated by the Association. The committee shall report its findings to the Governors within thirty (30) calendar days of its appointment. The Governors will then apprise the Minister of Advanced Education and Technology of the committee's findings. 28.3 22.6 If the Governors conclude that the financial problem still has not been resolved, it shall declare a state of financial exigency. The General Faculties Council will be asked to review the academic priorities of the University and to determine whether any programs or services are to be terminated. The recommendations of the General Faculties Council (if any) will be transmitted to the Governors for review and approval, as appropriate. 22.7 After the Governors have dealt with any recommendations from the General Faculties Council pursuant to Article 22, Clause 22.6, The University Budget Committee shall allocate the required budget cuts to budget units in accordance with the approved academic priorities. 22.8 Faculty Association, through its representatives, shall budget cuts necessitating the termination of academic staff will be fully consulted accomplished by Deans on the advice of Faculty Promotions Committees. The Committees and Deans will be guided in their deliberations by the University officers concerned and shall same criteria of quality as used in promotions. Seniority will be provided with detailed financial and budgetary information together with such long-range projections as may be prepared by the University in the course of its long range forecasting and planning processconsidered, other factors being equal. 28.4 The Faculty 22.8.1 If the termination of academic staff due to reasons of financial exigency is necessary, the Association shall be entitled to receiveinformed of the situation, in writing, information concerning the nature of the financial exigency, the deficiency created by the financial exigency in monetary terms, the extent to which the financial exigency will be borne by reduction in the number of academic staff members and the portion to be borne by each faculty, or similar academic unit. 28.5 In the event that an Exigency Review Committee is formed under the provisions of the FNUniv/URFA Academic Staff Agreement, a Sessional Academic Staff Member may be named by the Chair Xxxx of the Faculty Association as a member of the Committeeconcerned. 28.6 A deficiency, expressed in monetary terms, shall 22.8.2 Deans' recommendations must be allocated submitted to each department and similar academic unit and the General Promotions Committee for approval before being passed to the President shall notify the Faculty Association accordingly of the recommendation which is to be made for referral to the Board. The President's notification shall include specific proposals for meeting the deficiency, including proposals about any appointments to be terminated, with the reasons clearly given for such proposals. Such reasons shall be consistent with the long range plans for the University and to the greatest extent possible with the collegial consensus about how to respond to the exigency. Such reasons shall not be merely financial nor based in a mechanical way upon juniority or seniority. Individuals, units, departments have 30 days from the receipt Board of the President's notification to respond, before the decision to discontinue is finalized by the Board upon the recommendation of the President. In the event of a financial exigency which will result in vertical or horizontal cuts, Sessional Academic Staff Members shall be given the maximum amount of notice possible. Sessional Academic Staff Members who have taught a minimum of fifteen (15) three credit hour classes (or equivalent) during the previous five (5) years shall receive the balance of the current semester, plus 10% of the Sessional Academic Staff Member stipend for their current rank for each of the classes taught during the previous five (5) yearsGovernors.

Financial Exigency. 28.1 The Parties agree 18.01 Financial exigency denotes a continuous and extreme financial crisis that the process cannot be met through routine measures. 18.02 It is agreed that a state of long-range planning should obviate the possibility of a financial exigency occurring. The Parties further agree that shall not be declared until the Corporation and the Association have jointly made representation to the Government of Quebec in the event an attempt to obtain whatever funds are required to avert a state of a financial exigency, in view of the ramifications to the careers of academic staff members, an orderly and equitable way of dealing with the situation is essential. Finally, the Parties agree that, in the event of a financial exigency, the process outlined in the Financial Exigency article of the FNUniv/URFA Academic Staff Agreement will be followed. 28.2 As soon as the University perceives 18.03 The Board of Governors, believing that a state of financial exigency exists, it will convey this information shall impose a halt to hiring new employees at all levels, and shall form with the Association a Budgetary Commission whose initial task shall be to determine whether or not a state of financial exigency does indeed exist and so report to the Faculty Association in writing, indicating Board of Governors. The official announcement of financial exigency shall be made by the nature Board of Governors only on the advice of the problem, its probable magnitude Budgetary Commission. The Budgetary Commission shall have complete access to relevant records for the purpose of determining whether financial exigency exists. 18.04 The Budgetary Commission shall consist of two representatives appointed by the Board of Governors and impact on two representatives appointed by the careers Association. 18.05 The Budgetary Commission shall be charged with identifying sources of members financial difficulty and recommending to the Board of Governors means to alleviate these difficulties. Such recommendations shall include but are not limited to: fiscal management of the University, deficit financing, new initiatives in increasing revenues, termination of non-academic appointments of library, athletics, and administrative staff, early retirement, redeployment or termination of the appointments of members. 28.3 18.06 The Faculty Budgetary Commission shall consult fully with the Senate, the Board of Governors, and the Association. 18.07 All documents and minutes of the Budgetary Commission shall be forwarded to the Senate, the Board of Governors, and the Association, through along with its representativesrecommendations. 18.08 The Board of Governors shall decide, on recommendation of the Budgetary Commission, any reduction in the amount assigned to the total faculty salary budget, and the Budgetary Commission shall determine which members are to be affected by this reduction. 18.09 With the academic advice of Senate pertaining to the size and distribution of the Faculty necessary to retain the viability of Xxxxxx'x University, the Budgetary Commission, after full consultation with affected members, shall specify, giving detailed reasons in writing for its specifications, those members whose appointments are to be fully consulted by the University officers concerned and shall be provided with detailed financial and budgetary information together with such long-range projections as may be prepared by the University in the course terminated for reasons of its long range forecasting and planning process. 28.4 The Faculty Association shall be entitled to receive, in writing, information concerning the nature of the financial exigency, the deficiency created by the financial exigency in monetary terms, the extent to which the financial exigency will be borne by reduction in the number of academic staff those members and the portion who are to be borne by each facultyredeployed and/or retrained, or similar academic unitand those members who shall retire early. 28.5 In the event that an Exigency Review Committee is formed under the provisions of the FNUniv/URFA Academic Staff Agreement, a Sessional Academic Staff Member may be named by the Chair of the Faculty Association as a member of the Committee. 28.6 A deficiency, expressed in monetary terms, shall be allocated to each department and similar academic unit and the President shall notify the Faculty Association accordingly of the recommendation which is to be made to the Board. The President's notification shall include specific proposals for meeting the deficiency, including proposals about any appointments to be terminated, with the reasons clearly given for such proposals. Such reasons shall be consistent with the long range plans for the University and to the greatest extent possible with the collegial consensus about how to respond to the exigency. Such reasons shall not be merely financial nor based in a mechanical way upon juniority or seniority. Individuals, units, departments have 30 days from the receipt of the President's notification to respond, before the decision to discontinue is finalized by the Board upon the recommendation of the President. In the event of a financial exigency which will result in vertical or horizontal cuts, Sessional Academic Staff Members shall be given the maximum amount of notice possible. Sessional Academic Staff Members who have taught a minimum of fifteen (15) three credit hour classes (or equivalent) during the previous five (5) years shall receive the balance of the current semester, plus 10% of the Sessional Academic Staff Member stipend for their current rank for each of the classes taught during the previous five (5) years.

Financial Exigency. 28.1 22.1 The Parties agree first duty of the University must be to ensure that its academic priorities remain paramount, particularly in regard to the process quality of long-range planning should obviate the possibility of a financial exigency occurringinstruction and research. The Parties further agree that Governors, when faced with budgetary restrictions, will ensure the primacy of the University's educational functions by considering cuts in academic programs or resultant cuts of Board appointments only after all practicable cuts have been made in all other budgetary areas of the University. 22.2 A substantial financial deficiency which may result in the event of a financial exigency, in view necessity of the ramifications to the careers termination of academic staff members, an orderly and equitable way shall be deemed to be financial exigency for the purpose of dealing with the situation is essentialthis Article. FinallyHowever, the Parties agree that, in the event termination due to lack of funding of staff members holding contingent appointments shall not constitute financial exigency. 22.3 Before declaring a state of financial exigency, the process outlined Governors shall consult with the Association and shall supply the Association with all budgetary information used by the Governors in considering the Financial Exigency article need for such a declaration. 22.4 If the Association wishes to offer for the Governors’ consideration, suggestions designed to avoid the termination of staff, it shall do so not more than thirty (30) calendar days after being advised of the FNUniv/URFA Academic Staff Agreement financial problem. Such suggestions will be followedbecome the subject of immediate discussion between the Governors and the Association for a period not to exceed thirty (30) calendar days. 28.2 As soon as 22.5 If, following these discussions, the Governors conclude that the financial problem has not been resolved, it shall appoint an ad hoc committee of three (3) members of the Governors to identify the nature and scope of the problem. The Governors shall also appoint advisors to the committee selected from the University perceives that a financial exigency exists, it will convey this information to community and from the community at large. The advisors selected from the University community shall include the President of the Faculty Association in writing, indicating the nature of the problem, its probable magnitude and impact on the careers of two (2) other members of the academic staffAssociation nominated by the Association. The committee shall report its findings to the Governors within thirty (30) calendar days of its appointment. The Governors will then apprise the Minister of Learning of the committee's findings. 28.3 22.6 If the Governors conclude that the financial problem still has not been resolved, it shall declare a state of financial exigency. The General Faculties Council will be asked to review the academic priorities of the University and to determine whether any programs or services are to be terminated. The recommendations of the General Faculties Council (if any) will be transmitted to the Governors for review and approval, as appropriate. 22.7 After the Governors have dealt with any recommendations from the General Faculties Council pursuant to Article 22, Clause 22.6, The University Budget Committee shall allocate the required budget cuts to budget units in accordance with the approved academic priorities. 22.8 Faculty Association, through its representatives, shall budget cuts necessitating the termination of academic staff will be fully consulted accomplished by Xxxxx on the advice of Faculty Promotions Committees. The Committees and Xxxxx will be guided in their deliberations by the University officers concerned and shall same criteria of quality as used in promotions. Seniority will be provided with detailed financial and budgetary information together with such long-range projections as may be prepared by the University in the course of its long range forecasting and planning processconsidered, other factors being equal. 28.4 The Faculty 22.8.1 If the termination of academic staff due to reasons of financial exigency is necessary, the Association shall be entitled to receiveinformed of the situation, in writing, information concerning the nature of the financial exigency, the deficiency created by the financial exigency in monetary terms, the extent to which the financial exigency will be borne by reduction in the number of academic staff members and the portion to be borne by each faculty, or similar academic unit. 28.5 In the event that an Exigency Review Committee is formed under the provisions of the FNUniv/URFA Academic Staff Agreement, a Sessional Academic Staff Member may be named by the Chair Xxxx of the Faculty Association as a member of the Committeeconcerned. 28.6 A deficiency, expressed in monetary terms, shall 22.8.2 Deans' recommendations must be allocated submitted to each department and similar academic unit and the General Promotions Committee for approval before being passed to the President shall notify the Faculty Association accordingly of the recommendation which is to be made for referral to the Board. The President's notification shall include specific proposals for meeting the deficiency, including proposals about any appointments to be terminated, with the reasons clearly given for such proposals. Such reasons shall be consistent with the long range plans for the University and to the greatest extent possible with the collegial consensus about how to respond to the exigency. Such reasons shall not be merely financial nor based in a mechanical way upon juniority or seniority. Individuals, units, departments have 30 days from the receipt Board of the President's notification to respond, before the decision to discontinue is finalized by the Board upon the recommendation of the President. In the event of a financial exigency which will result in vertical or horizontal cuts, Sessional Academic Staff Members shall be given the maximum amount of notice possible. Sessional Academic Staff Members who have taught a minimum of fifteen (15) three credit hour classes (or equivalent) during the previous five (5) years shall receive the balance of the current semester, plus 10% of the Sessional Academic Staff Member stipend for their current rank for each of the classes taught during the previous five (5) yearsGovernors.

Financial Exigency. 28.1 The Parties agree 18.01 Financial exigency denotes a continuous and extreme financial crisis that the process cannot be met through routine measures. 18.02 It is agreed that a state of long-range planning should obviate the possibility of a financial exigency occurring. The Parties further agree that shall not be declared until the Corporation and the Association have jointly made representation to the Government of Quebec in the event an attempt to obtain whatever funds are required to avert a state of a financial exigency, in view of the ramifications to the careers of academic staff members, an orderly and equitable way of dealing with the situation is essential. Finally, the Parties agree that, in the event of a financial exigency, the process outlined in the Financial Exigency article of the FNUniv/URFA Academic Staff Agreement will be followed. 28.2 As soon as the University perceives 18.03 The Board of Governors, believing that a state of financial exigency exists, it will convey this information shall impose a halt to hiring new employees at all levels, and shall form with the Association a Budgetary Commission whose initial task shall be to determine whether or not a state of financial exigency does indeed exist and so report to the Faculty Association in writing, indicating Board of Governors. The official announcement of financial exigency shall be made by the nature Board of Governors only on the advice of the problem, its probable magnitude Budgetary Commission. The Budgetary Commission shall have complete access to relevant records for the purpose of determining whether financial exigency exists. 18.04 The Budgetary Commission shall consist of two representatives appointed by the Board of Governors and impact on two representatives appointed by the careers Association. 18.05 The Budgetary Commission shall be charged with identifying sources of members financial difficulty and recommending to the Board of Governors means to alleviate these difficulties. Such recommendations shall include but are not limited to: fiscal management of the University, deficit financing, new initiatives in increasing revenues, termination of non-academic appointments of library, athletics, and administrative staff, early retirement, redeployment or termination of the appointments of members. 28.3 18.06 The Faculty Budgetary Commission shall consult fully with the Senate, the Board of Governors, and the Association. 18.07 All documents and minutes of the Budgetary Commission shall be forwarded to the Senate, the Board of Governors, and the Association, through along with its representativesrecommendations. 18.08 The Board of Governors shall decide, on recommendation of the Budgetary Commission, any reduction in the amount assigned to the total faculty salary budget, and the Budgetary Commission shall determine which members are to be affected by this reduction. 18.09 With the academic advice of Senate pertaining to the size and distribution of the Faculty necessary to retain the viability of Xxxxxx'x University, the Budgetary Commission, after full consultation with affected members, shall specify, giving detailed reasons in writing for its specifications, those members whose appointments are to be fully consulted by the University officers concerned terminated for reasons of financial exigency, those members who are to be redeployed and/or retrained, and those members who shall retire early. Articles 17.12 to 17.15 inclusive shall apply to a member who is to be redeployed or retrained for reasons of financial exigency. Early retirement shall be provided offered under the conditions specified in Article 17.09. A tenured member whose appointment is to be terminated for reasons of financial exigency shall receive: a) six (6) months' notice and twelve (12) months' salary, and b) one (1) month's salary for each of the first nine years since the member's appointment as a faculty member at Xxxxxx'x University, and c) two (2) months' salary for each of the subsequent nine years. Appointments of tenured members aged fifty (50) years or over and with detailed more than eighteen (18) years service at Xxxxxx'x University shall not be terminated for reasons of financial and budgetary information together with such long-range projections as may be prepared by exigency. A member whose appointment is terminated for reasons of financial exigency shall have the University following additional option regarding his/her equity in the course pension plan: transfer of its long range forecasting and planning processhis/her contributions, plus an equal contribution from the Corporation, plus interest at the accepted rate, into a Registered Retirement Savings Plan of his/her choice. 28.4 The Faculty Association 18.10 Any terminations for reasons of financial exigency which might occur shall be entitled only for the purpose of meeting the financial exigency and only to receivethe extent required by financial exigency. 18.11 The provisions of Article 17.07 for termination of probationary appointments shall also apply to termination of such appointments for reasons of financial exigency. 18.12 Should a member whose appointment is terminated because of financial exigency wish to grieve his/her selection, he/she may do so under the grievance and arbitration provisions of this Agreement. 18.13 The Grievant must submit his/her grievance, in writing, information concerning directly to the nature chairperson of the financial exigency, the deficiency created by the financial exigency in monetary terms, the extent to which the financial exigency will be borne by reduction in the number Joint Committee within fourteen (14) days of academic staff members and the portion to be borne by each faculty, or similar academic unit. 28.5 In the event that an Exigency Review Committee is formed under the provisions receiving notification of the FNUniv/URFA Academic Staff Agreement, a Sessional Academic Staff Member may be named by the Chair decision of the Faculty Association as a member of the CommitteeBudgetary Commission. 28.6 A deficiency, expressed in monetary terms, shall be allocated to each department and similar academic unit and the President shall notify the Faculty Association accordingly of the recommendation which is to be made to the Board. The President's notification shall include specific proposals for meeting the deficiency, including proposals about any appointments to be terminated, with the reasons clearly given for such proposals. Such reasons shall be consistent with the long range plans for the University and to the greatest extent possible with the collegial consensus about how to respond to the exigency. Such reasons shall not be merely financial nor based in a mechanical way upon juniority or seniority. Individuals, units, departments have 30 days from the receipt of the President's notification to respond, before the decision to discontinue is finalized by the Board upon the recommendation of the President. In the event of a financial exigency which will result in vertical or horizontal cuts, Sessional Academic Staff Members shall be given the maximum amount of notice possible. Sessional Academic Staff Members who have taught a minimum of fifteen (15) three credit hour classes (or equivalent) during the previous five (5) years shall receive the balance of the current semester, plus 10% of the Sessional Academic Staff Member stipend for their current rank for each of the classes taught during the previous five (5) years.

Financial Exigency. 28.1 The Parties agree No Member shall be terminated, dismissed or otherwise penalized with respect to terms and conditions of employment and/or rights or privileges relating to employment for financial reasons except in accordance with this Article. Members may be laid off in accordance with this Article if a state of financial exigency has been declared by the Boardaccordingto the procedures contained in this Article. A state of financial exigency is defined as a situation in which the University faces substantialand potentially chronic financial losses which threaten the continued functioning of the University unless the budgetary allocation for salaries and benefits of Members is reduced. In the event that the process of long-range planning should obviate the possibility of a financial exigency occurring. The Parties further agree that in the event of a financial exigency, in view of the ramifications to the careers of academic staff members, an orderly and equitable way of dealing with the situation is essential. Finally, the Parties agree that, in the event of a financial exigency, the process outlined in the Financial Exigency article of the FNUniv/URFA Academic Staff Agreement will be followed. 28.2 As soon as the University perceives Board considers that a financial exigency exists within the meaning of it shall give notice to the Association within days that it intends to act in accordance with the procedures set out below. As of the date of such notice, Members may have contracts renewed, but no new appointments may be made, that is, no person be appointed to a position in the Bargaining Unit covered by this Agreement. As of the date of such notice, the University undertakes to make no additional appointments to the administrative complement. Within days of giving notice that it considers a financialexigency exists, it will convey this information the Board shall forwardto the Association all financial documentationrelevant to the Faculty Association in writingproposed state of financial exigency. The documentationshall be sufficiently detailed that by usual accounting principles a state of financial exigency can be evaluated. state of financial exigency and either: (a) verify to the Board that it confirms the existence of such a financial exigency; or report to the Board that such a financial exigency does not exist. The Financial Commission shall consist of five (5) members, indicating two (2) of whom shall be appointed by the nature Board, and two (2) of whom shall be appointed by the problem, its probable magnitude and impact on Association. An independent chair shall be selected by the careers of other four (4) members of the academic staff. 28.3 The Faculty AssociationCommission, through its representatives, shall be fully consulted by the University officers concerned and shall be provided with detailed financial and budgetary information together with such long-range projections as may be prepared by the University in the course of its long range forecasting and planning process. 28.4 The Faculty Association shall be entitled to receive, in writing, information concerning event the nature other members of the financial exigencyCommission cannot agree on a chair, the deficiency created by the financial exigency in monetary terms, the extent to which the financial exigency will be borne by reduction in the number of academic staff members and the portion to be borne by each faculty, or similar academic unit. 28.5 In the event that an Exigency Review Committee is formed under the provisions of the FNUniv/URFA Academic Staff Agreement, a Sessional Academic Staff Member may chair shall be named by the Chair of the Faculty Association as a Senior Ontario Court (General Division) Judge presiding in Kitchener. No member of the Committee. 28.6 A deficiency, expressed in monetary terms, Financial Commission shall be allocated a government official. The University shall cooperate with the Financial Commission in its deliberations and shall provide all documentation necessary to each department establish to the satisfactionof the Financial Commissionwhether a state of financial exigency exists within the meaning of this Article. The Financial Commission shall establish its own procedures. The Financial Commissionshall inviteand consider submissions on the University'sfinancial condition. It shall consider: (a) whether the University's financial position constitutes a genuine financial crisis that involves a deficit for at least one financial year which is projected by generally accepted accounting principles to continue, and similar academic unit constitutes a problem sufficiently grave that the University's continued functioning would be endangered unless the budgetary allocationfor salaries and benefits of Members is reduced; whether the President shall notify the Faculty Association accordingly reduction of the recommendation which number of Members and/or the reduction in the salaries and benefits of Members is a reasonable way to be effect a cost saving given the primacy of academic goals within the University; whether other means of achieving savings have been explored and utilized; whether every reasonable effort has been made to secure further assistance from the Board. The President's notification shall include specific proposals for meeting the deficiency, including proposals about any appointments to be terminated, with the reasons clearly given for such proposals. Such reasons shall be consistent with the long range plans for the University provincial government and to improve the greatest extent possible with University's revenue position by any other means includingborrowingand the collegial consensus about how to respond disposalof assets not essential to the exigency. Such reasons shall not be merely financial nor based in a mechanical way upon juniority or seniority. Individuals, units, departments have 30 days from the receipt functioning of the President's notification to respond, before the decision to discontinue is finalized by the Board upon the recommendation of the President. In the event of a financial exigency which will result in vertical or horizontal cuts, Sessional Academic Staff Members shall be given the maximum amount of notice possible. Sessional Academic Staff Members who have taught a minimum of fifteen (15) three credit hour classes (or equivalent) during the previous five (5) years shall receive the balance of the current semester, plus 10% of the Sessional Academic Staff Member stipend for their current rank for each of the classes taught during the previous five (5) years.University;