Severance Arrangements for Lay-Off Under Confirmed Financial Exigency. A Member who is laid off under the terms of Article 45 under confirmed financial exigency shall be entitled to the following severance arrangements, in addition to the notice set out in 45.17: (a) one (1) month's pay for each completed year of service from the initial time of appointment to the time of lay-off, with part years prorated, for Members on definite-term appointments, with a maximum total amount of ten (10) months' salary; (b) one (1) month's pay for each year or partial year of service at the time of lay-off for Members holding tenure-track appointments; (c) one (1) month's pay for each year or partial year of service at the time of lay-off, with a minimum total amount of nine (9) months' salary and a maximum total amount of eighteen (18) months' salary, for Members who have tenure.
Appears in 6 contracts
Samples: Collective Agreement, Collective Agreement, Collective Agreement
