Voluntary Exit Option definition

Voluntary Exit Option. “If after making offers of early retirement, individual layoff notices are still required, prior to issuing those notices the Hospital will offer a voluntary early exit option in accordance with the following conditions:”
Sample 1

Examples of Voluntary Exit Option in a sentence

  • As an alternative to layoffs, the Parties shall activate the Voluntary Exit Option as follows: An employee is eligible for the and must apply to the Administrator of Staff Relations in writing by the date established by the Employer.

  • Arbitrator Trachuk came to her conclusion that the conversion formula was permissible under the provisions of the collective agreement despite the fact that she did not have any language, which expressly supported the fact that this conversion formula could be used for the purposes of the Voluntary Exit Option (VEO).

  • The dummyvariabledg ,t o1equals 1 if year t follows a year with tax data observed ( t  o 1); analogously, dg ,t o 2( dg ,t o3 ) is equal to 1 in the second (third) year after the tax data are observed.

  • Targeted Direct Assignment (TDA) means the assignment of a surplus employee, during the notice period, to an appropriate vacant position or Voluntary Exit Option opportunity (See the VEO Explanatory Note, and managers can refer to the interpretive bulletin) in the Ontario Public Service.

  • Please refer to the Voluntary Exit Option Article 20.7 Explanatory Note for more information.

  • The Voluntary Exit Option program allows regular, regular part-time and flexible part-time non- surplus OPSEU-represented employees to register with the Employer to have their home position identified for targeted direct assignment by other employees who have been declared surplus.

  • The following options will be made available to employees affected by restructuring in accordance with Article .O A Voluntary Exit Option will consist of an early retirement program for employees eligible for early retirement under their applicable pension plan, or voluntary resignation for all other employees.

  • Barradel [2] suggests that it seems that in the first stages, when a preliminary list of threshold concepts is constructed, consensus is significant.

  • For purposes of Article 20.7, a surplus employee will be assigned to the non-surplus employee’s position only if he or she applies for and indicates on his or her application for the Voluntary Exit Option opportunity that they have received notice of layoff and are eligible for a targeted direct assignment, and provided he or she is able to perform the normal requirements of the position without training.

  • The relevant language of that article provided: 18.03(C) – Voluntary Exit Option If after making offers of early retirement, individual layoff notices are still required, prior to issuing those notices the Hospital will offer a voluntary early exit option in accordance with the following conditions” The Hospital will first make offers in the classifications within department(s) where layoffs would otherwise occur.

Related to Voluntary Exit Option

  • Voluntary Termination for Good Reason means that the Executive voluntarily terminates his employment after any of the following are undertaken without Executive’s express written consent:

  • Voluntary Resignation means any Termination by Employee for any reason other than a Constructive Termination.

  • Termination Upon a Change in Control means a termination of Officer’s employment with Corporation within 12 months following a “Change in Control” that constitutes a Termination Other Than For Cause described in Section 2.1(b).

  • Voluntary Termination means the termination by Executive of Executive's employment following a Change in Control which is not the result of any of clauses (i) through (v) set forth in the definition of Involuntary Termination above.

  • Commitment Termination Event means (a) the occurrence of any Event of Default described in clauses (a) through (d) of Section 8.1.9, or (b) the occurrence and continuance of any other Event of Default and either (i) the declaration of the Loans to be due and payable pursuant to Section 8.3, or (ii) in the absence of such declaration, the giving of notice to the Borrower by the Administrative Agent, acting at the direction of the Required Lenders, that the Commitments have been terminated.

  • Revolving Termination Date means the earlier to occur of:

  • Liquidity Event means a Change of Control or an IPO.

  • Swingline Termination Date means the date which is 7 Business Days prior to the Termination Date.

  • Termination Option Event means an event of a kind defined as such in Section 4.1, 4.2 or 4.8.

  • Termination for Good Reason means a Termination of Employment by Executive for a Good Reason.

  • Involuntary Termination means a termination of your employment with the Company pursuant to either (i) a termination initiated by the Company without Cause, or (ii) your resignation for Good Reason, and provided in either case such termination constitutes a Separation from Service. An Involuntary Termination does not include any other termination of your employment, including a termination due to your death or disability.

  • Vesting Event means the earliest to occur of the following events:

  • Series Termination Date means, with respect to any Series of Certificates, the date stated in the related Supplement.

  • Termination for Cause or "Cause" shall mean termination because of the Executive's personal dishonesty, willful misconduct, any breach of fiduciary duty involving personal profit, intentional failure to perform stated duties, conviction of a felony with respect to the Bank or the Company or any material breach of this Agreement. For purposes of this Section, no act, or the failure to act, on the Executive's part shall be "willful" unless done, or omitted to be done, in bad faith and without reasonable belief that the action or omission was in the best interest of the Company or its affiliates. Any act, or failure to act, based upon authority given pursuant to a resolution duly adopted by the Board or based upon the written advice of counsel for the Company shall be conclusively presumed to be done, or omitted to be done, by the Executive in good faith and in the best interests of the Company. Notwithstanding the foregoing, the Executive shall not be deemed to have been terminated for Cause unless and until there shall have been delivered to him a Notice of Termination which shall include a copy of a resolution duly adopted by the affirmative vote of not less than three-fourths of the members of the Board at a meeting of the Board called and held for that purpose (after reasonable notice to the Executive and an opportunity for him, together with counsel, to be heard before the Board), finding that in the good faith opinion of the Board, the Executive was guilty of conduct justifying Termination for Cause and specifying the particulars thereof in detail. The Executive shall not have the right to receive compensation or other benefits for any period after Termination for Cause.

  • Director Option means an Option granted pursuant to Section 6.

  • Disability or Disabled means that during the Elimination Period and your Own Occupation Period you are, as a result of Physical Disease, Injury, Mental Disorder, Substance Abuse or Pregnancy, unable to perform one or more of the Material Duties of your Own Occupation, and, due to such inability, your Work Earnings are less than 80% of your Indexed Predisability Earnings, and you are incapable of earning 80% or more of your Indexed Predisability Earnings. Your Work Earnings may be Deductible Income. See the “LTD Benefit Calculation” and “Deductible Income” sections.

  • Continuous Status as an Employee, Director or Consultant means the employment or relationship as a Director or Consultant is not interrupted or terminated. The Board, in its sole discretion, may determine whether Continuous Status as an Employee, Director or Consultant shall be considered interrupted in the case of: (i) any leave of absence approved by the Board, including sick leave, military leave, or any other personal leave; or (ii) transfers between locations of the Company or between the Company, Affiliates or their successors.

  • Qualified Retirement means a retirement from Service by the Executive in which, at the time of such retirement, the sum of the Executive’s age and aggregate 12-month completed periods of Service (whether or not such completed 12-month periods are consecutive), in each case without giving credit for any partial years, equals or exceeds 75.

  • Resignation for Good Reason means Executive’s resignation from all employee positions Executive then holds with the Company within sixty (60) days following any of the following events taken without Executive’s consent, provided Executive has given the Company written notice of such event within thirty (30) days after the first occurrence of such event and the Company has not cured such event within thirty (30) days thereafter:

  • Qualified Termination has the meaning set forth in Section 4(b).

  • Termination due to Disability means a termination of the Executive’s employment by the Company because the Executive has been incapable, after reasonable accommodation, of substantially fulfilling the positions, duties, responsibilities and obligations set forth in this Agreement because of physical, mental or emotional incapacity resulting from injury, sickness or disease for a period of (A) six (6) consecutive months or (B) an aggregate of nine (9) months (whether or not consecutive) in any twelve (12) month period. Any question as to the existence, extent or potentiality of the Executive’s disability shall be determined by a qualified physician selected by the Company with the consent of the Executive, which consent shall not be unreasonably withheld. The Executive or the Executive’s legal representatives or any adult member of the Executive’s immediate family shall have the right to present to such physician such information and arguments as to the Executive’s disability as he, she or they deem appropriate, including the opinion of the Executive’s personal physician.

  • 3(i) Option means an Option granted pursuant to Section 3(i) of the Ordinance to any person who is Non- Employee.

  • Termination of Service means:

  • Commitment Termination Date means the earliest to occur of (a) the Maturity Date, (b) the date the Commitments are permanently reduced to zero pursuant to Section 2.8, and (c) the date of the termination of the Commitments pursuant to Article VIII.

  • Involuntary Termination Without Cause means Executive’s dismissal or discharge by the Company other than for Cause. The termination of Executive’s employment as a result of Executive’s death or disability will not be deemed to be an Involuntary Termination Without Cause.