Voluntary Exit Program. (VEP) - In the event that a permanent/indefinite staff reduction does occur (for any reason whatsoever), any employee(s) removed from the active payroll who has a minimum of five (5) years seniority shall receive a Voluntary Exit Allowance in accordance with the following:
Voluntary Exit Program. In the event that a staff reduction does occur (for any reason whatsoever), any removed from the active payroll who has a minimum of five (5) years seniority shall receive a Voluntary Exit Allowance in accordance with the following: Any and all employees so affected shall be given an opportunity to accept a Voluntary Exit package or retain their rights to recall in accordance with the terms defined by the Collective Agreement. An employee will only be entitled to choose one of these options. Any employee who accepts a Voluntary Exit package will receive (following the completion of their last day of work) an allowance equivalent to two (2) weeks normal gross weekly earnings for each year of service plus a prorated amount of any additional year of employment to a maximum of twenty six (26) weeks normal gross weekly earnings. As part of their retraining program, any employee accepting a Voluntary Exit package will, on production of receipts from an approved educational program, also be entitled to reimbursement for tuition fees (in accordance with the Company's tuition refund program) for a period of twelve (12) months the effective date of their layoff. Upon acceptance of the allowances defined herein, the employment relationship between the employee and the Employer shall terminate. Technological change shall mean "the introductionof equipment or material of a different nature or kind from that previously used by the Company, together with a change in the manner in which the Company carries on its operations that is directly related to the introduction of that equipment or material". Where new or different skills are required than are already possessed by the affected employees as a result of a technological change, such employees shall, at the expense of the be given a reasonable period of time, without reduction of hours of work or rates of pay, during which they may acquire the necessary skills required. An Employeewho becomes redundant or is displaced from his job as a result of technological change shall have an opportunity to fill any vacancy for which he has seniority and which he is able to perform, and if there is no vacancy, shall have the right to displace employees with less seniority provided he is able to perform the job of the employee to be so displaced.
Voluntary Exit Program. In the event that a staff reduction does occur (for any reason whatsoever), any removed from the active payroll who has a minimum of five (5) years seniority shall receive a Voluntary Exit Allowance in accordance with the following: Any and all employees so affected shall be given an opportunity to accept a Voluntary Exit package or retain their rights to recall in accordance with the terms defined by the Collective Agreement. An employee will only be entitled to choose one of these options. Any employee who accepts a Voluntary Exit package will receive (following the completion of their last day of work) an allowance equivalent to two (2) weeks normal gross weekly earnings for each year of plus a prorated amount of any additional year of employment to a maximum of twenty six (26) weeks normal gross weekly earnings. As pari of their retraining program, any employee accepting a Voluntary Exit package will, on production of receipts from an approved educational program, also be entitled to reimbursement for tuition fees (in accordance with the Company's tuition refund program) for a period of twelve (12) months following the effective date of their
