Voluntary Separation Program definition

Voluntary Separation Program means a program designated as a Voluntary Separation Program by the Company and signed by the Vice President of Human Resources.
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Voluntary Separation Program means a program of limited time duration under which an eligible employee is permitted to voluntarily separate from employment with the Company, thereby receiving certain associated benefits, including participation in this Plan. In the absolute discretion of the Company, employees in certain job groups, job descriptions or job categories may not be considered eligible to request participation in the Voluntary Separation Program. Even for employees eligible to participate in the Voluntary Separation Program, their actual participation is not guaranteed and the Company may deny an eligible employee's request for participation, in its absolute discretion.
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Voluntary Separation Program means a program of limited time duration under which an Eligible Management Employee is permitted to voluntarily separate from employment with the Employer, thereby receiving certain associated benefits, including eligibility to participate in this Plan. In the Employer’s sole and absolute discretion, Eligible Management Employees in certain job groups, job descriptions or job categories may not be considered eligible to request participation in the Voluntary Separation Program. Even for Eligible Management Employees eligible to participate in the Voluntary Separation Program, their actual participation is not guaranteed and the Employer may, in its sole and absolute discretion, deny an Eligible Management Employee’s request for participation.
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Examples of Voluntary Separation Program in a sentence

  • Employees accepted for participation in the Voluntary Separation Program are ineligible for further matching County contributions under this plan.

  • The Voluntary Separation Program shall not be discriminatory and must be based on a rational basis for efficiency or economic necessity.

  • The Union and the Employer recognize the continuing need to address the State's fiscal condition, and to that end agree that the State may implement a Voluntary Separation Program (VSP).

  • AFSCME and the Employer recognize the continuing need to address the State's fiscal condition, and to that end agree that the State may implement a Voluntary Separation Program (VSP) consistent with the criteria outlined in the attached Exhibit A.

  • The purpose of the Voluntary Separation Program (VSP) is to provide the South Carolina Technical College System (SBTCE) the option of implementing a program to realign resources and/or permanently downsize based on the ability to demonstrate recurring cost savings.

  • Just as the plaintiff in Polk was not deprived of the opportunity to obtain a favorable disposition of his claim by the more than seven year delay in his discrimination claim, STP has not been deprived of the opportunity to prevail in this appeal by the issuance of the Tolling Order.

  • The Board shall have the discretion to defer payments made for the Voluntary Separation Program.

  • Employees must be actively at work to be considered for the Voluntary Separation Program.

  • In fiscal year 2018, the University Board of Trustees approved a Voluntary Separation Program (hereinafter “VSP”).

  • The budget after transfers 2010/11 compared to the approved budget 2010/11 reflects a decrease in personnel resources, primarily under PCT Operations, due to the departure of a number of staff under the Voluntary Separation Program (VSP).


More Definitions of Voluntary Separation Program

Voluntary Separation Program. A negotiated agreement between the Aurora Board of Education and the Aurora Education Association has established a Voluntary Separation Program for the teachers of the Aurora Public Schools. This Program is available only to certified employees of the Aurora Public Schools, which is defined as any certified employee who is regularly employed for the instruction of pupils in the Aurora Public Schools, hereinafter referred to as “Employee”. This Program amends, replaces in its entirety, and supersedes any previous policy or agreement by the Aurora Board of Education and the Aurora Education Association. The administrators of the Aurora Public Schools are specifically not covered by this Program. Administrator means any certified employee such as superintendent, assistant superintendent, principal, assistant principal, school nurse or other supervisory or administrative personnel who do not have as a primary duty the instruction of pupils in the Aurora Public Schools. The Aurora Public School District has established an Early Retirement Program (hereinafter referred to as the “Program”) for the purpose of encouraging eligible employees who are considering an early leaving decision to accelerate their retirement plans. The Program shall be a voluntary program for the eligible employees of the District. The Program will be paid to Employees in direct ratio of each annual full time equivalency (FTE) during the tenure of the eligible employee. In addition to other requirements for eligibility, as outlined in this Program, the Employee must have completed fifteen (15) years of credited service in the employment of the Aurora Public School District. The employee must be currently employed to be eligible for the Early Retirement Program benefits as outlined by Nebraska Retirement System’s Rule of 85. Credited Service for retirement computations shall mean continuous employment as a certificated employee of the Aurora Public Schools.
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Related to Voluntary Separation Program

  • Retirement program means a program of rights and obligations which a county, city, village, or township establishes, maintains, or participates in and which, by its express terms or as a result of surrounding circumstances, does 1 or more of the following:

  • Retirement Savings Plan means the Air Products and Chemicals, Inc. Retirement Savings Plan, as amended from time to time, together with any similar, succeeding or substitute plan.

  • Benefits Continuation Period has the meaning set forth in Section 6.01(b).

  • income-related employment and support allowance means an income-related allowance under Part 1 of the Welfare Reform Act 2007;

  • Qualifying Termination means a termination of the Executive’s employment either (i) by a Company Group member without Cause (excluding by reason of Executive’s death or Disability) or (ii) by the Executive for Good Reason, in either case, during the Change in Control Period (a “Qualifying CIC Termination”) or outside of the Change in Control Period (a “Qualifying Non-CIC Termination”).

  • Benefit Continuation Period means the period beginning on the Date of Termination and ending on the last day of the month in which occurs the earlier of (i) the 24-month anniversary of the Date of Termination and (ii) the date on which you elect coverage for you and your covered dependents under substantially comparable benefit plans of a subsequent employer.

  • Additional gap medical benefits means the benefits (if any) payable in respect of medical expenses that are more than the schedule fee and which otherwise meet the requirements of the fund’s no or known gap policy, provided always that the medical expenses relate to a professional service that:

  • Voluntary Termination for Good Reason means the Employee voluntarily resigns after the occurrence of any of the following (i) without the Employee’s express written consent, a material reduction of the Employee’s duties, title, authority or responsibilities, relative to the Employee’s duties, title, authority or responsibilities as in effect immediately prior to such reduction, or the assignment to Employee of such reduced duties, title, authority or responsibilities; provided, however, that a reduction in duties, title, authority or responsibilities solely by virtue of the Company being acquired and made part of a larger entity (as, for example, when the Senior Vice-President of a business unit of the Company remains as such following a Change of Control) shall not by itself constitute grounds for a “Voluntary Termination for Good Reason;” (ii) without the Employee’s express written consent, a material reduction, without good business reasons, of the facilities and perquisites (including office space and location) available to the Employee immediately prior to such reduction; (iii) a reduction by the Company in the base salary of the Employee as in effect immediately prior to such reduction; (iv) a material reduction by the Company in the aggregate level of employee benefits, including bonuses, to which the Employee was entitled immediately prior to such reduction with the result that the Employee’s aggregate benefits package is materially reduced (other than a reduction that generally applies to Company employees); (v) the relocation of the Employee to a facility or a location more than thirty-five (35) miles from the Employee’s then present location, without the Employee’s express written consent; (vi) the failure of the Company to obtain the assumption of this agreement by any successors contemplated in Section 7(a) below; or (vii) any act or set of facts or circumstances which would, under California case law or statute constitute a constructive termination of the Employee.

  • PAGA Pay Period means any Pay Period during which an Aggrieved Employee worked for Defendant for at least one day during the PAGA Period.

  • extended reduction (qualifying contributory benefits means a reduction under this scheme for which a person is eligible in accordance with paragraph 88 or 95;

  • Post-Employment Period means the eighteen month period beginning on the date of termination of the Executive's employment with the Employer. If any covenant in this Section 8.2 is held to be unreasonable, arbitrary or against public policy, such covenant shall be considered to be divisible with respect to scope, time, and geographic area, and such lesser scope, time, or geographic area, or all of them as a court of competent jurisdiction may determine to be reasonable, not arbitrary, and not against public policy, shall be effective, binding, and enforceable against the Executive. The period of time applicable to any covenant in this Section 8.2 will be extended by the duration of any violation by the Executive of such covenant. The Executive shall, while the covenant under this Section 8.2 is in effect, give notice to the Employer, within ten days after accepting any other employment, of the identify of the Executive's employer. The Employer may notify such employer that the Executive is bound by this Agreement and, at the Employer's election, furnish such employer with a copy of this Agreement or relevant portions thereof.

  • Termination, Moving You may cancel your acceptance of the Agreement with XOOM at any time prior to midnight of the thirtieth (30th) calendar day after the date of the first bill from your utility that includes XOOM charges for gas supply service without penalty or cancellation fee by calling XOOM at 0-000-000-0000 or by sending an email to xxxxxxxxxxxx@xxxxxxxxxx.xxx. When moving to an address within your local utility’s service territory, XOOM will make every effort to transfer your service to your new service address, provided that you notify XOOM within fifteen (15) days of your move. If a transfer of service is not successful or you move to a location outside your local utility’s service territory, you may cancel this Agreement at no cost to you. Failure to notify XOOM of your move will be considered a cancellation of this Agreement in accordance with its terms.

  • Salary reduction plan means a benefit plan whereby state and

  • Nonqualifying Termination means a termination of the Executive’s employment (1) by the Company for Cause, (2) by the Executive for any reason other than a Good Reason, (3) as a result of the Executive’s death or (4) by the Company due to the Executive’s absence from his duties with the Company on a full-time basis for at least 180 consecutive days as a result of the Executive’s incapacity due to physical or mental illness.

  • Continuation Period shall have the meaning set forth in Section 6.9(a).

  • Voluntary Termination means termination by the Employee of the Employee's employment with the Company, excluding termination by reason of Employee's death or disability as described in Sections 2.5 and 2.6.

  • Company 401(k) Plan shall have the meaning set forth in Section 6.09(e).

  • CIC Qualifying Termination means, in each case, on or within twenty-four (24) months following a Change in Control, (i) a termination of the Executive’s employment by the Company without Cause, (ii) a termination of the Executive’s employment by reason of death or Disability, or (iii) a termination of the Executive’s employment by the Executive for Good Reason.

  • Qualifying Termination of Employment means a Participant’s Termination of Employment (i) by the Company without Cause or (ii) by the Participant with or without Good Reason or by reason of Retirement.

  • SERP has the meaning assigned thereto in Section 5(c) hereof.

  • Retirement Plans means the retirement income, supplemental executive retirement, excess benefits and retiree medical, life and similar benefit plans providing retirement perquisites, benefits and service credit for benefits at least as great in the aggregate as are payable thereunder prior to a Change in Control;

  • Gap medical benefits means the benefits (if any) payable in respect of medical expenses that are less than, greater than or equal to the schedule fee, provided always that the medical expenses relate to a professional service that:

  • contributory employment and support allowance means an allowance under Part 1 of the Welfare Reform Act 2007 as amended by the provisions of Schedule 3, and Part 1 of Schedule 14, to the Welfare Reform Act 2012 that remove references to an income-related allowance and a contributory allowance under Part 1 of the Welfare Reform Act 2007 as that Part has effect apart from those provisions;

  • Pension program means the defined benefit pension program of the Oregon Public Service

  • converted employment and support allowance means an employment and support allowance which is not income-related and to which a person is entitled as a result of a conversion decision within the meaning of the Employment and Support Allowance (Existing Awards) Regulations 2008;

  • Qualifying Retirement means the Employee’s voluntary termination of employment after the Employee has (i) attained (X) age sixty-five (65), (Y) age fifty-five (55) with ten (10) Years of Service as a full-time employee of the Partnership or any of its Affiliates, or (Z) an age which, when added to such Years of Service of the Employee equals at least seventy-five (75), and (ii) previously delivered a written notice of retirement to the Partnership and on the date of retirement the Employee has satisfied the minimum applicable advance written notice requirement set forth below: By way of illustration, and without limiting the foregoing, if (i) the Employee is eligible to retire at age fifty-nine (59) after ten (10) Years of Service, (ii) the Employee gives two (2) years notice at age fifty-eight (58) that the Employee intends to retire at age sixty (60), and (iii) the Employee later terminates employment at age fifty-nine (59), then the Employee’s retirement at age fifty-nine (59) would not constitute a Qualifying Retirement. However, if (i) the Employee is eligible to retire at age fifty-nine (59) after ten (10) Years of Service, (ii) the Employee gives two (2) years notice at age fifty-eight (58) that the Employee intends to retire at age sixty (60), and (iii) the Employee terminates employment upon reaching age sixty (60), then the Employee’s retirement at age sixty (60) would constitute a Qualifying Retirement.