Voluntary Tech Change Severance Package Group B & C Employees Sample Clauses

Voluntary Tech Change Severance Package Group B & C Employees. When there are to be reductions in a department the Company will make available a voluntary severance package. This option will commence with the notice given to the Union in Article 18.01, and will be available for a period of time specifically stated in the notice. Any regular employee electing to take a voluntary buyout will receive a lump sum payment of $15,000 plus a further sum of four week’s regular pay for each year of continuous service [pro-rated for part-time employees and those with less than a full year(s) of service]. The maximum voluntary tech change severance shall not exceed $100,000 nor be less than $15,000.
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Related to Voluntary Tech Change Severance Package Group B & C Employees

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