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. 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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Examples of Voluntary Separation Program in a sentence

  • 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 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).

  • The Recipient shall: ● Identify goals to reduce greenhouse gas (GHG) emissions, criteria air pollutants, and toxic air contaminants for the region, and the emitters at the local level that would need to be targeted.

  • The Company will provide a lump sum payment to MRO’s at the grandfathered rate (including Restricted Operators) who do not apply for the Voluntary Separation Program (“VSP”) at Stage 1 AND who do not apply for any PA2 vacancies that are created through the implementation of the VSP-Stage.

  • 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.

  • An eligible employee who has been approved by the Board for participation in the Voluntary Separation Program shall receive a total benefit equal to his or her final salary times years of credited service times the salary factor indicated in the table below.

  • An employee who was not eligible for health and dental benefits prior to applying for the Voluntary Separation Program would not be eligible for those benefits if he or she participates in the Voluntary Separation Program.

  • I acknowledge that I have read the Voluntary Separation Program Guide (“Guide”) and agree to the terms and conditions of the VSP as described fully in the Guide.

  • The [Agency] will pay the employer portion of health and dental benefits for up to one year for an employee who is approved to participate in the Voluntary Separation Program, unless the employee otherwise becomes eligible for such benefits.


More Definitions of Voluntary Separation Program

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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Related to Voluntary Separation Program

  • 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 Executive’s employment (i) by the Company other than for Cause or (ii) by Executive for Good Reason. Termination of Executive’s employment on account of death, Disability or Retirement shall not be treated as a Qualifying Termination.

  • Benefit Continuation Period shall have the meaning set forth in Section 5(b).

  • 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 that the Executive voluntarily terminates his employment after any of the following are undertaken without Executive’s express written consent:

  • 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 is defined in Section 8.2.

  • 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 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.

  • Company 401(k) Plan has the meaning set forth in Section 6.4(e).

  • CIC Qualifying Termination means a Separation (A) within twelve (12) months following a Change in Control or (B) within three (3) months preceding a Change in Control (but as to part (B), only if the Separation occurs after a Potential Change in Control) resulting, in either case (A) or (B), from (i) the Company terminating the Executive’s employment for any reason other than Cause or (ii) the Executive resigning his or her employment for Good Reason. A termination or resignation due to the Executive’s death or disability shall not constitute a CIC Qualifying Termination. A “Potential Change in Control” means the date of execution of a legally binding and definitive agreement for a corporate transaction which, if consummated, would constitute the applicable Change in Control (which for the avoidance of doubt, would include, for example, a merger agreement, but not a term sheet for a merger agreement). In the case of a termination following a Potential Change in Control and before a Change in Control, solely for purposes of benefits under this Agreement, the date of Separation will be deemed the date the Change in Control is consummated.

  • Post-Termination Period means the twelve (12) month period beginning on the Termination Date.

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

  • 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;

  • 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: Age at Voluntary Termination Number of Years of Advance Notice 58 or younger 59 60 or older 3 years 2 years 1 year 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.

  • Covered Termination means the termination of Executive’s employment by the Company without Cause or by Executive for Good Reason, and shall not include a termination due to Executive’s death or disability.

  • Agreement Termination Date is defined in Section 7.4.

  • Employee Contribution means any contribution made to the Plan by or on behalf of a Participant that is included in the Participant's gross income in the year in which made and that is maintained under a separate account to which earnings and losses are allocated.

  • New employee orientation means the onboarding process of a newly hired classified employee, whether in person, online, or through other means or mediums, in which employees are advised of their employment status, rights, benefits, duties and responsibilities, or any other employment-related matters.

  • Employment Termination Date means, with respect to a Participant, the first day upon which the Participant no longer has an employment or service relationship with the Company or any Related Company.