Severance Option. As an alternative to the layoff provisions of this Agreement, any regular status nurse subject to layoff may elect to terminate with severance, with a signed agreement containing a general release of claims, pay based on the following: Severance Pay Years of Continuous Employment 3 weeks Less than 5 years 4 weeks 5 years or more Severance pay will be based on the nurse’s FTE status. Nurses who elect severance pay shall be eligible for reemployment but shall have no recall rights (5.7).
Appears in 6 contracts
Samples: Agreement, Letter of Agreement, Collective Bargaining Agreement
Severance Option. As an alternative to the layoff provisions of this Agreement, any regular status nurse subject to layoff may elect to terminate with severance, with a signed agreement containing a general release of claims, severance pay based on the following: Severance Pay Years of Continuous Employment 3 weeks Less than 5 years 4 weeks 5 years or more Severance pay will be based on the nurse’s FTE status. Nurses who elect severance pay shall be eligible for reemployment but shall have no recall rights (5.7).
Appears in 3 contracts
Samples: Extension Agreement, Extension Agreement, Extension Agreement
