Optional Termination Pay. (a) If the Company notifies the Union in writing of a surplus which would necessitate layoffs, the Company may, to the degree necessary to resolve the surplus, in order of seniority, offer employees not affected by the surplus condition the opportunity of Optional Termination Pay. The Company will offer Optional Termination Pay where there is an employee(s) at risk of layoff having more than five (5) years TERM OF EMPLOYMENT at the time surplus is declared. Optional Termination Pay offers will not exceed the number of employees declared surplus in the affected Production universe, Tier universe, or Trades classification.
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