Severance Pay and Reappointment. Any continuing employee, laid off for reasons of reductions in staff, who has not received alternate placement under Clauses 3.2 or 3.3, may select either alternative (a) or (b) below:
Severance Pay and Reappointment. Any continuing employee, laid off for reasons of reductions in staff, who has not received alternate placement under Clauses 3.02 or 3.03, may select either alternative (a) or (b) below:
Severance Pay and Reappointment. (continued)
Severance Pay and Reappointment. Any continuing or probationary employee, laid off as stipulated in Clauses 3.01 and 3.02 who has not received alternate placement under Clauses 3.02 or 3.03 will receive payout of accumulated vacation entitlement and is entitled to severance pay according to (a) below and to reappointment according to (b) below:
(a) Severance Pay An employee shall receive severance pay calculated as follows:
(i) Payment of one-half (1/2) of one (1) month's salary for each fulltime equivalent year of accumulated service to the College to a maximum equal to six (6) months salary.
(ii) Laid off employees have the choice of collecting their severance pay in one lump sum or in equal monthly installments paid for the duration of the period covered by severance pay.
(iii) Should an employee be re-employed on a probationary or continuing contract before the expiration of the period of time covered by severance pay, the employee shall repay the Employer the unused portion of the severance pay within the first month of the commencement of the new appointment.
(iv) Employees reappointed on continuing or probationary contracts who elected to receive their severance pay in equal monthly installments shall not receive severance pay for the unused portion of the severance period.
(v) While receiving severance pay, the employee will not accumulate seniority or be eligible for College pension or other benefits. If the employee is rehired on a continuing or probationary contract and subsequently laid off again according to Clauses 3.01 and 3.02, he/she will only be eligible to receive the portion of the original severance pay that was not received or which was repaid to the College at the time of rehiring plus any additional severance pay earned through the latest appointment. An employee may choose to accept severance pay without reappointment rights.
(vi) The acceptance of severance pay by an employee shall not prejudice the employee's opportunity for employment at the College.
Severance Pay and Reappointment. Any continuing or probationary employee, laid off for reasons of reduction in staff as stipulated in Clauses 3.01 and 3.02 who has not received alternate placement under Clauses 3.02 and 3.03 will receive payout of accumulated vacation entitlement and is entitled to severance pay according to (a) below and to reappointment according to (b) below:
(a) Severance Pay An employee shall receive severance pay calculated as follows: Payment of one-half (1/2) of one (1) month's salary for each full- time equivalent year of accumulated service to the College to a maximum of six (6) months of equivalent salary. Laid off employees have the choice of collecting their severance pay in one lump sum or in monthly installments paid for the duration of the period covered by severance pay. Should an employee be re-employed on a probationary or continuing contract before the expiration of the period of time covered by severance pay, the employee shall repay the College the unused portion of the severance pay within the first month of the commencement of the new appointment. Employees reappointed on continuing or probationary contracts who elected to receive their severance pay in equal monthly installments shall not receive severance pay for the unused portion of the severance period.
Severance Pay and Reappointment. Probationary and Continuing Employees
Severance Pay and Reappointment. Probationary and Continuing Employees Any continuing or probationary Employee, laid off as stipulated in Clauses 3.01 and 3.02 who has not received alternate placement under Clauses 3.02 or 3.03 will receive payout of accumulated vacation entitlement and is entitled to severance pay according to (a) below and to reappointment according to (b) below:
Severance Pay and Reappointment
