Surplus Factor 80 Program. 4.1 An employee who has reached Factor 80 on or before May 31, 1997, and did not retire within his / her Factor 80 window, shall, if declared surplus, be eligible to requalify under the Factor 80 program, provided he / she so elects in writing within thirty (30) days of receipt of notice of layoff, and where he / she so elects, the employee shall retire within the thirty (30) day period and all other rights under this agreement are forfeited, save and except Article 45 (Termination Payments). For the sake of clarity, it is agreed that an employee who is given an offer to accept employment with a new employer pursuant Section 2.5 of this Appendix, who is otherwise eligible to requalify under the Factor 80 Program, shall be considered eligible to requalify as prescribed herein. 4.2 The Employer agrees to extend Factor 80 for employees declared surplus up until March 31, 2006.
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Samples: Collective Agreement, Collective Agreement, Collective Agreement
