Common use of Voluntary Terminations Clause in Contracts

Voluntary Terminations. The Employer shall invite Employees to apply for consideration for a voluntary termination incentive program and shall have the right to accept or reject any individual Employee’s application. Employees may apply for the voluntary termination incentive during a 30-day period beginning with the Employer’s announcement to Employees, with a copy to the Guild, of the program. The Employer may condition an Employee’s acceptance of a termination incentive payment on the Employee’s signing a separation agreement and general release in a form acceptable to the Employer. To the extent any Employees voluntarily terminate their employment in accordance with the terms of a separation agreement and general release, the number of Employees set forth in subsection (l)(1) above to be terminated will be reduced. To the extent the Employer’s reduction goals are not met through the foregoing voluntary terminations, the Employer may then implement involuntary terminations as set forth below.