Examples of Voluntary Exit in a sentence
In calculating the SLSRI obligation, the Group also considers potential separations before normal retirement based on the terms of previous voluntary exit schemes.Termination benefits are payable when employment is terminated by the Group before the normal retirement date, or whenever an employee accepts voluntary redundancy in exchange for these benefits (including those in the context of the Voluntary Exit Schemes implemented by the Group).
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 following the effective date of their layoff.
An employee will retain Priority Placement during their recall period, and will be considered for appropriate Voluntary Exit matches as they arise.
An employee retains their right to refuse a Voluntary Exit match outside their current geographic location.
The Employer agrees that, where possible in the first instance, it will utilize attrition and other voluntary measures as a means of reducing the workforce, which may include those described in Article 26.3 (Early Retirement and Voluntary Exit).
Where an employee refuses a Voluntary Exit match to their same salary grade at their current location, the employee will be deemed to have terminated their employment with the Employer.
Where an employee has requested the opportunity for a Voluntary Exit match below their current salary grade, in the same location, then refuses the match, the employee will be deemed to have terminated their employment with the Employer.
The anti-abuse nature of the MAP-tiebreaker provision will also prevent entities from engaging in international structures even though it would not be abusive, but for the fear to be drawn out of the MAP with an unpredictable outcome, which is also connected to legal certainty.
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.