Common use of Phase and duration Clause in Contracts

Phase and duration. Employees may apply to reduce their work week to four (4) or three (3) days per week on their current permanent position or another arrangement for the duration of the progressive retirement. The work week may also be reduced from four days to three days during this period. The duration of the phased retirement will cease when the employee reaches 65 years old or quit the Company’s service. Note: To be eligible for the Progressive Retirement Program the employee will have to agree to retire at 65 years old.

Phase and duration. Employees may apply to reduce their work week to four (4) or three (3) days per week on their current permanent position or another arrangement for the duration of the progressive phased retirement. The work week may also be reduced from four days to three days during this periodperiod (i.e. after 6 months). The duration of the phased retirement will cease when be one year. At the employee reaches 65 years old or quit end of the Company’s service. Note: To be eligible for the Progressive Retirement Program one year, the employee will have to agree to retire at 65 years oldretire. This period may be extended with concurrence of the General Chair and General Manager.