Common use of Severance and Retirement Options Clause in Contracts

Severance and Retirement Options. {a) Where an employee resigns within days after receiving notice of layoff pursuant to article that his or her position will be eliminated, he OF she shall be entitled to a separation allowance of two (2) weeks' salary for each year of continuous service to a maximum of twelve weeks' pay, and, on production of receipts from an approved educational program, within twelve months of resignation, may be reimbursed for tuition fees up to a maximum of three thousand ($3,000)dollars. Where an employee resigns later than days after receiving notice pursuant to article that his or her position will be eliminated, he or she shall be entitled to a separation allowance of four (4) weeks' salary, and, on production of receipts from an approved educational program, within twelve (12) months of resignation, may be reimbursed for tuition fees up to a maximum of one thousand two hundred and fifty ,250)dollars. Prior to issuing notice of layoff pursuant to article in any the Hospital will offer early-retirement allowance to a sufficient number of employees eligible for early retirement under within the in order of seniority, to the extent that the maximum number of employees within a classification who elect early retirement is equivalent to the number of employees within the who would receive notice of layoff under article Within thirty days from the date of notice of layoff, an employee who has received notice of layoff of a permanent or long-term nature may retire provided that the employee is eligible to retire under the terms of the Hospitals of Ontario Pension Plan. An employee who chooses this option forfeits her right to notice and will receive severance pay on the basis of two (2) weeks' pay for each year of service with the Hospital to a maximum of (26) weeks on the basis of the employees normal weekly earnings. In addition, full-time employees will receive a lump sum payment equal to for every year less than age to a maximum of Note: The Hospital may offer any employee a retirement option as provided above, in order to avoid potential layoffs in the unit.

Severance and Retirement Options. {(a) Where an employee resigns within days after receiving notice of layoff pursuant to article that his or her position will be eliminated, he OF or she shall be entitled to a separation allowance of two (2) weeks' salary for each year of continuous service to a maximum of twelve (12) weeks' pay, and, on production of receipts from an approved educational program, within twelve 2) months of resignation, may be reimbursed for tuition fees up to a maximum of three thousand ($3,000)dollars3,000) dollars. Where an employee resigns later than days after receiving notice pursuant to article that his or her position will be eliminated, he or she shall be entitled to a separation allowance of four (4) weeks' salary, and, on production of receipts from an approved educational program, within twelve (12( I2) months of resignation, may be reimbursed for tuition fees up to a maximum of one thousand two hundred and fifty ,250)dollars($1,250) dollars. Prior to issuing notice of layoff pursuant to article in any classification the Hospital will offer early-retirement allowance earlrement to a sufficient number of employees eligible for early retirement under within the in order of seniority, to the extent that the maximum number of employees within a classification who elect early retirement is equivalent to the number of employees within the who would otherwise receive notice of layoff under article Within thirty (30) days from the date of notice of layoff, an employee who has received notice of layoff of a permanent or long-term nature may retire provided that the employee is eligible to retire under the terms of the Hospitals of Ontario Pension Plan. An employee who chooses this option forfeits her right to notice and will receive severance pay on the basis of two (2) weeks' pay for each year of service with the Hospital to a maximum of twenty-six (26) weeks on the basis of the employees normal weekly earnings. In addition, full-time employees will receive a lump sum payment equal to for every year less than age to a maximum of Note: The Hospital may offer any employee a retirement option as provided above, in order to avoid potential layoffs in the unit. A full-time employee who has completed one year of service and whose lay-off is permanent, or who is laid off for weeks in any week period, and who has not elected to receive a severance payment under either (a) or of this Article, shall be entitled to severance pay equal to the greater of two weeks' pay, or one week's pay per year of service to a maximum of weeks' pay. This entitlement shall not be in addition to any entitlement to severance pay under the Standards Act, but at the same time, shall not preclude an employee from claiming any greater entitlement which that Act may at some point come to provide. An employee may elect to defer receipt of this severance payment while his or her recall rights are still in effect. Once an employee does opt to receive the severance payment, he or she shall be deemed to have resigned, and his or her recall rights shall be extinguished.

Severance and Retirement Options. {(a) Where an employee resigns within days after receiving notice of layoff pursuant to article that his or her position will be eliminated, he OF or she shall be entitled to a separation allowance of two (2) weeks' salary for each year of continuous service to a maximum of twelve (I2) weeks' pay, and, on production of receipts from an approved educational program, within twelve 2) months of resignation, may be reimbursed for tuition fees up to a maximum of three thousand ($3,000)dollars3,000) dollars. Where an employee resigns later than days after receiving notice pursuant to article that his or her position will be eliminated, he or she shall be entitled to a separation allowance of four (4) weeks' salary, and, on production of receipts from an approved educational program, within twelve (12) months of resignation, may be reimbursed for tuition fees up to a maximum of one thousand two hundred and fifty ,250)dollars($1,250) dollars. Prior to issuing notice of layoff pursuant to article in any the Hospital will offer early-retirement allowance to a sufficient number of employees eligible for early retirement under within the in order of seniority, to the extent that the maximum number of employees within a classification who elect early retirement is equivalent to the number of employees within the who would otherwise receive notice of layoff under article Within thirty (30) days from the date of notice of layoff, an employee who has received notice of layoff of a permanent or long-term nature may retire provided that the employee is eligible to retire under the terms of the Hospitals of Ontario Pension Plan. An employee who chooses this option forfeits her right to notice and will receive severance pay on the basis of two (2) weeks' pay for each year of service with the Hospital to a maximum of (26) weeks on the basis of the employees normal weekly earnings. In addition, full-time employees will receive a lump sum payment equal to for every year less than age to a maximum of Note: The Hospital may offer any employee a retirement option as provided above, in order to avoid potential layoffs in the unit.to

Severance and Retirement Options. {a) Where an employee resigns within days after receiving notice of layoff pursuant to article that his or her position will be eliminated, he OF or she shall be entitled to a separation allowance of two (2) weeks' salary for each year of continuous service to a maximum of twelve (12) weeks' pay, and, on production of receipts from an approved educational program, within twelve (12) months of resignation, may be reimbursed for tuition fees up to a maximum of three thousand ($3,000)dollars3,000) dollars. Where an employee resigns later than days after receiving notice pursuant to article that his or her position will be eliminated, he or she shall be entitled to a separation allowance of four (4) weeks' salary, and, on production of receipts from an approved educational program, within twelve (12) months of resignation, may be reimbursed for tuition fees up to a maximum of one thousand two hundred and fifty ,250)dollars($1,250) dollars. Prior to issuing notice of layoff pursuant to article in any the Hospital will offer early-retirement allowance to a sufficient number of employees eligible for early retirement under within the in order of seniority, to the extent that the maximum number of employees within a classification who elect early retirement is equivalent to the number of employees within the who would otherwise receive notice of layoff under article Within thirty (30) days from the date of notice of layoff, an employee who has received notice of layoff of a permanent or long-term nature may retire provided that the employee is eligible to retire under the terms of the Hospitals of Ontario Pension Plan. An employee who chooses this option forfeits her right to notice and will receive severance pay on the basis of two (2) weeks' pay for each year of service with the Hospital to a maximum of twenty-six (26) weeks on the basis of the employees normal weekly earnings. In addition, full-time employees will receive a lump sum payment equal to for every year less than age to a maximum of Note: The Hospital may offer any employee a retirement option as provided above, in order to avoid potential layoffs in the unit. A full-time employee who has completed one year of service and whose lay-off is permanent, or who is laid off for weeks in any week period, and who has not elected to receive a severance payment under either (a) or of this Article, shall be entitled to severance pay equal to the greater of two weeks' pay, or one week's pay per year of service to a maximum of weeks' pay. This entitlement shall not be in addition to any entitlement to severance pay under the Standards Act, but at the same time, shall not preclude an employee from claiming any greater entitlement which that Act may at some point come to provide. An employee may elect to defer receipt of this severance payment while his or her recall rights are still in effect. Once an employee does opt to receive the severance payment, he or she shall be deemed to have resigned, and his or her recall rights shall be extinguished.

Severance and Retirement Options. {(a) Where an employee resigns within thirty days after receiving notice of layoff pursuant to article that his or her position will be eliminated, he OF she shall be entitled to a separation allowance of two (2) weeks' salary for each year of continuous service to a maximum of twelve weeks' pay, and, on production of receipts from an approved educational program, within twelve months of resignation, may be reimbursed for tuition fees up to a maximum of three thousand ($3,000)dollars. Where an employee resigns later than days after receiving notice pursuant to article Article that his or her position will be eliminated, he or she shall be entitled to a separation allowance of four two (42) weeks' salary’ salary for each year of continuous service to a maximum of twelve (12) weeks’ pay, and, on production of receipts from an approved educational program, within twelve (12) months of resignation, may be reimbursed for tuition fees up to a maximum of three thousand ($3,000) dollars. Where an employee resigns later than days after receiving notice pursuant to Article that his or her position will be eliminated, he she shall be entitled to a separation allowance of four (4) weeks’ salary, and, on production of receipts from an approved educational program, within twelve (I2) months of resignation, may be reimbursed for tuition fees up to a maximum of one thousand two hundred and fifty ,250)dollars($1,250) dollars. of Prior to issuing notice of layoff pursuant to article Article in any the Hospital Employer will offer early-retirement allowance to a sufficient number of employees eligible for early retirement under within the in order of seniority, to the extent that the maximum number of employees within a classification who elect early retirement is equivalent to the number of employees within the who would otherwise receive notice of layoff under article Within thirty (30) days from the date of notice of layoffxxxxxx, an employee who has received notice of layoff of a permanent or long-term nature may retire provided that the employee is eligible to retire under the terms of the Hospitals Employers of Ontario Pension Plan. An employee who chooses this option forfeits her right to notice and will receive severance pay on the basis of two (2) weeks' pay for each year of service with the Hospital Employer to a maximum of twenty-six (26) weeks on the basis of the employees normal weekly earnings. In addition, full-time employees will receive a lump sum payment equal to for every year less than age to a maximum of Note: The Hospital Employer may offer any employee a retirement option as provided above, in order to avoid potential layoffs in the unit. A full-time employee who has completed one year of service and whose lay-off is permanent, or who is off for weeks in any week period, and who has not elected to receive a severance payment under either (a) or of this Article, be entitled to severance pay equal to the greater of two weeks' pay, or one week's pay per year of service to a maximum of weeks' pay. This entitlement shall not be in addition to any entitlement to severance pay under the Standards Act, but at the same time, shall not preclude an employee from claiming any greater entitlement which that Act may at some point come to provide. An employee may elect to defer receipt of this severance payment while his or her recall rights are still in effect. Once an employee does opt to receive the severance payment, he or she be deemed to have resigned, and his or her rights be extinguished. Staff Planning Committees The central parties agree to establish Regional Staff Planning Committees to facilitate the redeployment of laid off employees among the Participating Employers To achieve this objective the Employer Staff Planning Committee will forward to the Regional Staff Planning Committee a list of the names and addresses of laid off employees who have expressed an interest in working at other Participating Employers and who have undertaken skills assessment procedures provided by any government training agency, such as that may be in place. In filling vacancies not filled by bargaining unit members the Employers are encouraged to give first consideration to laid off employees who are on the list and who are qualified to perform the work. For benefit-entitlement purposes, it is recognized that employers shall be free to grant to any employees hired through this process full credit for service earned with another employer. The size, structure composition, and activities of each Committee will be mutually determined by the parties and application will be made to any available funding source for the funding of administrative expenses.

Severance and Retirement Options. {(a) Where an employee resigns within days after receiving notice of layoff pursuant to article that his or her position will be eliminated, he OF or she shall be entitled to a separation allowance of two (2) weeks' salary for each year of continuous service to a maximum of twelve (12) weeks' pay, and, on production of receipts from an approved educational program, within twelve (12) months of resignation, may be reimbursed for tuition fees up to a maximum of three thousand ($3,000)dollars3,000) dollars. Where an employee resigns later than days after receiving notice pursuant to article that his or her position will be eliminated, he or she shall be entitled to a separation allowance of four (4) weeks' salary, and, on production of receipts from an approved educational program, within twelve (122) months of resignation, may be reimbursed for tuition fees up to a maximum of one thousand two hundred and fifty ,250)dollars($1,250) dollars. Prior to issuing notice of layoff pursuant to article in any the Hospital will offer early-retirement allowance to a sufficient number of employees eligible for early retirement under within the in order of seniority, to the extent that the maximum number of employees within a classification who elect early retirement is equivalent to the number of employees within the who would otherwise receive notice of layoff under article Within thirty (30) days from the date of notice of layoff, an employee who has received notice of layoff of a permanent or long-term nature may retire provided that the employee is eligible to retire under the terms of the Hospitals of Ontario Pension Plan. An employee who chooses this option forfeits her right to notice and will receive severance pay on the basis of two (2) weeks' pay for each year of service with with. the Hospital to a maximum of twenty-six (26) weeks on the basis of the employees normal weekly earnings. In addition, full-time employees will receive a lump sum payment equal to for every year less than age to a maximum of Note: The Hospital may offer any employee a retirement option as provided above, in order to avoid potential layoffs in the unit.

Severance and Retirement Options. {a) Where an employee resigns within resignswithin thirty (30) days after receiving notice of noticeof layoff pursuant to article that his or hisor her position will be eliminated, he OF or she shall be entitled to a separation allowance of two (2) weeks' salary for each year of continuous service to serviceto a maximum of twelve weeksmaximumoftwelve (12)weeks' pay, and, on production of receipts from an approved educational program, within twelve months of resignation, ,may be reimbursed for tuition fees up to a maximum of three thousand ($3,000)dollars3,000) dollars. Where an employee resigns later than thirty (30) days after receiving notice pursuant to article that his or her position will positionwill be eliminated, he or she shall be entitled to entitledto a separation allowance of four (4) weeks4)weeks' salary, and, on production of receipts from an approved educational program, within twelve ,withintwelve (12) months of resignation, may be reimbursed for tuition fees up to tuitionfees upto a maximum of maximumof one thousand two hundred and fifty ,250)dollars($1,250) dollars. Prior to issuing notice of layoff pursuant to article in any the Hospital will offer early-retirement allowance Centrewill to a sufficient number of employees eligible for early retirement under within the in order of seniority, ,to the extent that the maximum number of employees within employeeswithin a classification who classificationwho elect early retirement is equivalent to the number of employees within the who would otherwise receive notice of layoff under article Within thirty days from the date of notice of layoff, an employee who employeewho has received notice of layoff of a permanent or long-term nature may retire provided that the employee is eligible to retire under the terms of the Hospitals of Ontario Pension Plan. An employee who chooses this option forfeits her right to notice and will receive severance receiveseverance pay on the basis of two (2) weeks' pay for each year of service with the Hospital to a maximum of (26) weeks on the basis of the employees normal weekly earnings. In addition, full-time employees will receive a lump sum payment equal to for every year less than age to a maximum of Note: The Hospital may offer any employee a retirement option as provided above, in order to avoid potential layoffs in the unit.two

Severance and Retirement Options. {a) Where an employee resigns within days thirty (30)days after receiving notice of layoff pursuant to article that his or her position will be eliminated, he OF she shall be entitled to a separation allowance of two (2) weeks' salary for each year of continuous service to a maximum of twelve weeks' pay, and, on production of receipts from an approved educational program, within twelve months of resignation, may be reimbursed for tuition fees up to a maximum of three thousand ($3,000)dollars. Where an employee resigns later than days after receiving notice pursuant to article that his or her position will be eliminated, he or she shall be entitled to a separation allowance of four two (42) weeks' salary’ salary for each year of to a maximum of sixteen (16) weeks’ pay, and, on production of receipts from an approved educational program, within twelve (12) months of resignation, may be reimbursed for tuition fees up to a maximum of three thousand ($3,000) dollars. Where an than thirty (30) days after receiving notice pursuant to. article that his or her position will be eliminated, he or she shall be entitled to a separation allowance of four (4) weeks’ salary, and, on of receipts from an approved educational program, within twelve (12)months of resignation, may be reimbursed for tuition fees up to of one thousand two hundred and fifty ,250)dollarsdollars. Prior to issuing notice of layoff pursuant to article in any the Hospital will offer early-retirement allowance to a sufficient number of employees eligible for early retirement under within the in order of seniority, to the extent the article that the maximum number of employees within a classification who elect early retirement is equivalent to the number of employees within the who would otherwise receive notice of layoff under article Within thirty (30) days from the date of notice of layoff, an employee who has received notice of layoff of a permanent or long-term nature may retire provided that the employee is eligible to retire under the terms of the Hospitals of Ontario Pension Plan. An employee who chooses this option forfeits her right to notice and will receive severance pay on the basis of two (2) weeks' ’ pay for each year of service with the Hospital to a maximum of fifty-two (26) weeks 52)weeks on the basis of the employees normal weekly earnings. In addition, full-time employees will receive a lump sum payment equal to for every year less than age to a maximum of Note: The Hospital may offer any employee a retirement option as provided above, in order to avoid potential layoffs in the unit.

Severance and Retirement Options. {(a) Where an employee resigns within days after receiving notice of layoff pursuant to article that his or her position will be eliminated, he OF or she shall be entitled to a separation allowance of two (2) weeks' ’ salary for each year of continuous service to a maximum of twelve sixteen (16) weeks' ’ pay, and, and on production of receipts from an approved educational program, within twelve (12) months of resignation, may be reimbursed for tuition fees up to a maximum of three thousand ($3,000)dollars3,000) dollars. Where an employee resigns later than days after receiving notice pursuant to article Article that his or her position will be eliminated, he or she shall be entitled to a separation allowance of four (4) weeks' salary, ’ salary and, on production of receipts from an approved educational program, within twelve (12) months of resignation, may be reimbursed for tuition fees up to a maximum of one thousand two hundred and fifty ,250)dollars($1,250) dollars. Prior to issuing notice of layoff pursuant to article in any the Hospital will offer early-early retirement allowance to a sufficient number of employees eligible for early retirement under within the in order of seniority, to the extent that the maximum number of employees within a classification who elect early retirement is equivalent to the number of employees within the a who would otherwise receive notice of layoff under article Within thirty (30) days from the date of notice of layofflay-off, an employee who has received notice of layoff lay-off of a permanent or long-term nature may retire provided that the employee is eligible to retire under the terms of the Hospitals of Ontario Pension Plan. An employee who chooses this option forfeits her right to notice and will receive severance pay on the basis of two (2) weeks' pay for each year of service with the Hospital to a maximum of (26) weeks on the basis of the employees normal weekly earnings. In addition, full-time employees will receive a lump sum payment equal to for every year less than age to a maximum of Note: The Hospital may offer any employee a retirement option as provided above, in order to avoid potential layoffs in the unit.two

Severance and Retirement Options. {a) Where an employee resigns within days after receiving notice of layoff pursuant to article (a) that his or her position will be eliminated, he OF or she shall be entitled to a separation allowance of two (2) weeks' ’ salary for each year of continuous service to a maximum of twelve sixteen (16) weeks' ’ pay, and, on production of receipts from an approved educational program, within twelve 2) months of resignation, may be reimbursed for tuition fees up to a maximum of three thousand ($3,000)dollars3,000) dollars. Where an employee resigns later than days after receiving notice pursuant to article Article (a) that his or her position will be eliminated, he or she shall be entitled to a separation allowance of four (4) weeks' ’ salary, and, on production of receipts from an approved educational program, within twelve (12) months of resignation, may be reimbursed for tuition fees up to a maximum of one thousand two hundred and fifty ,250)dollars($1,250) dollars. Prior to issuing notice of layoff pursuant to article in any the Hospital will offer early-retirement allowance to a sufficient number of employees eligible for early retirement under within the in order of seniority, to the extent that the maximum number of employees within a classification who elect early retirement is equivalent to the number of employees within the who would otherwise receive notice of layoff under article Within thirty (30) days from the date of notice of layofflay-off, an employee who has received notice of layoff lay-off of a permanent or long-term nature may retire provided that the employee is eligible to retire under the terms of the Hospitals of Ontario Pension Plan. An employee who chooses this option forfeits her right to notice and will receive severance pay on the basis of two (2) weeks' ’ pay for each year of service with the Hospital to a maximum of fifty-two (2652) weeks on the basis of the employees normal weekly earnings. In addition, full-time employees will receive a lump sum payment equal to for every year less than age to a maximum of Note: The Hospital may offer any employee a retirement option as provided above, in order to avoid potential layoffs in the unit.

Severance and Retirement Options. {(a) Where an employee resigns within days after receiving notice of layoff pursuant to article that his or her position will be eliminated, he OF or she shall be entitled to a separation allowance of two (2) weeks' ’ salary for each year of continuous service to a maximum of twelve sixteen (16) weeks' ’ pay, and, and on production of receipts from an approved educational program, within twelve (12) months of resignation, may be reimbursed for tuition fees up to a maximum of three thousand ($3,000)dollars3,000) dollars. Where an employee resigns later than days after receiving notice pursuant to article Article that his or her position will positionwill be eliminated, he or she shall be entitled to a separation allowance of four (4) weeks' salary, ’ salary and, on production of receipts from an approved educational program, within twelve (12) months of resignation, may be reimbursed for tuition fees up to a maximum of one thousand two hundred and fifty ,250)dollars($1,250) dollars. Prior to issuing notice of layoff pursuant to article in any the Hospital will Hospitalwill offer early-early retirement allowance to a sufficient number of employees eligible for early retirement under within the in order of seniority, to the extent that the maximum number of employees within a classification who elect early retirement is equivalent to the number of employees within the who would otherwise receive notice of layoff under article Within thirty (30) days from the date of notice of layofflay-off, an employee who has received notice of layoff lay-off of a permanent or long-term nature may retire provided that the employee is eligible to retire under the terms of the Hospitals of Ontario Pension Plan. An employee who chooses this option forfeits her right to notice and will receive severance pay on the basis of two (2) weeks' weeks pay for each year of service with the Hospital to a maximum of fifty-two (2652) weeks on the basis of the employees employee’s normal weekly earnings. In addition, full-time employees will receive a lump sum payment equal to for every year less than age to a maximum of Note: The Hospital may offer any employee a retirement option as provided above, in order to avoid potential layoffs in the unit.

Severance and Retirement Options. {(a) Where an employee resigns within days after receiving notice of layoff pursuant to article that his or her position will be eliminated, he OF or she shall be entitled to a separation allowance of two (2) weeks' ’ salary for each year of continuous service to a maximum of twelve sixteen (16) weeks' ’ pay, and, and on production of receipts from an approved educational program, within twelve (12) months of resignation, may be reimbursed for tuition fees up to a maximum of three thousand ($3,000)dollars3,000) dollars. Where an employee resigns later than days after receiving notice pursuant to article Article that his or her position will be eliminated, he or she shall be entitled to a separation allowance of four (4) weeks' salary, ’ salary and, on production of receipts from an approved educational program, within twelve (12) months of resignation, may be reimbursed for tuition fees up to a maximum of one thousand two hundred and fifty ,250)dollars($1,250) dollars. Prior to issuing notice of layoff pursuant to article in any the Hospital will offer early-early retirement allowance to a sufficient number of employees eligible for early retirement under O. (a)(i within the in order of seniority, to the extent that the maximum number of employees within a classification who elect early retirement is equivalent to the number of employees within the who would otherwise receive notice of layoff under article Within thirty (30) days from the date of notice of layofflay-off, an employee who has received notice of layoff lay-off of a permanent or long-term nature may retire provided that the employee is eligible to retire under the terms of the Hospitals of Ontario Pension Plan. An employee who chooses this option forfeits her right to notice and will receive severance pay on the basis of two (2) weeks' pay for each year of service with the Hospital to a maximum of (26) weeks on the basis of the employees normal weekly earnings. In addition, full-time employees will receive a lump sum payment equal to for every year less than age to a maximum of Note: The Hospital may offer any employee a retirement option as provided above, in order to avoid potential layoffs in the unit.two

Severance and Retirement Options. {(a) Where an employee resigns within thirty (30) days after receiving notice of layoff pursuant to article that his or her position will be eliminated, he OF or she shall be entitled to a separation allowance of two (2) weeks' salary for each year of continuous service to a maximum of twelve (12) weeks' pay, and, on production of receipts from an approved educational program, within twelve (12) months of resignation, may be reimbursed for tuition fees up to a maximum of three thousand ($3,000)dollars3,000) dollars. Where an employee resigns later than thirty (30) days after receiving notice pursuant to article that his or her position will be eliminated, he or she shall be entitled to a separation allowance of four (4) weeks' salary, and, on production of receipts from an approved educational program, within twelve (12) months of resignation, may be reimbursed for tuition fees up to a maximum of one thousand two hundred and fifty ,250)dollars($1,250) dollars. Prior to issuing notice of layoff pursuant to article in any the Hospital will offer early-retirement allowance to a sufficient number of employees eligible for early retirement under within the in order of seniority, to the extent that the maximum number of employees within a classification who elect early retirement is equivalent to the number of employees within the who would otherwise receive notice of layoff under article Within thirty (30) days from the date of notice of layoff, an employee who has received notice of layoff of a permanent or long-term nature may retire provided that the employee is eligible to retire under the terms of the Hospitals of Ontario Pension Plan. An employee who chooses this option forfeits her right to notice and will receive severance pay on the basis of two (2) weeks' pay for each year of service with the Hospital to a maximum of (26) weeks on the basis of the employees normal weekly earnings. In addition, full-time employees will receive a lump sum payment equal to for every year less than age to a maximum of Note: The Hospital may offer any employee a retirement option as provided above, in order to avoid potential layoffs in the unit.to