Common use of VOLUNTARY SEPARATION PROGRAM Clause in Contracts

VOLUNTARY SEPARATION PROGRAM. In the event of a Group Termination as defined in the Canada Labour Code, or merger with another company or companies or formation of any successor organization, the Company will engage in a voluntary separation program concurrent with or prior to the group notice period required under the Code. Under this program an employee at any former AECL CANDU location may apply to terminate at a date agreeable to the Company and to receive termination compensation as provided for under the program. The company shall approve such applications where operational requirements are not jeopardized.