Voluntary Separation Package definition

Voluntary Separation Package. - means a financial payment which shall be made to an employee who has volunteered to separate based on a position having been identified as redundant. Accepting a voluntary separation package will not be construed as a resignation on the part of the employee.
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Voluntary Separation Package means a separation payment made in circumstances where a position is declared surplus to organisational needs, the officer is notified, invited to apply for, and voluntarily takes up a separation package. CLAUSE 5 PARTIES BOUND The parties to the Agreement shall be The District Council of Peterborough, the Australian Workers Union, AWU South Australian Branch and all employees of the District Council of Peterborough. CLAUSE 6 PERIOD OF OPERATION This Agreement shall commence from the date of certification, and remain in force for a 36-month period from that date.This Agreement will be reviewed and negotiated during the final three months of the period. CLAUSE 7 RELATIONSHIP TO CURRENT AWARD This Agreement shall be read in conjunction with the Local Government Employees (SA) Award, provided that where there is any inconsistency with the relevant Award, this Agreement shall take precedence to the extent of any inconsistency. CLAUSE 8 CONSULTATIVE MECHANISM 8.1 The parties agree that the effective operation of the Agreement is dependent on the continuation of the established consultative structure within the workplace. The principle consultative structure is the Consultative Committee.
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Examples of Voluntary Separation Package in a sentence

  • The parties agree that the Targeted Voluntary Separation Package policy as detailed in Appendix B of this Agreement will continue to apply.

  • Activities on at least one-half of one of the days (3.75 hours) will be determined by job-alike (e.g., grade level, departmental, CISS, etc.) teams in collaboration with their administrator centered around a building’s school improvement plan or other building or District initiatives.

  • A Targeted Voluntary Separation Package (TVSP) is defined as a separation payment made in circumstances where a position is declared surplus to organisational needs, proper consultation occurs, the employee is notified, invited to apply for, and voluntarily takes up a separation package.

  • A Voluntary Separation Package (VSP) will be made available to all employees who were classified as MA1’s, MA2’s or BET’s on the day before the date of ratification of this Agreement, including those who are eligible to participate in the ERIP but who choose not to do so.

  • Without limiting the range of options for consideration the discussions may cover transferring to alternative (available) suitable work, retraining or a negotiated Voluntary Separation Package (VSP).

  • Where a position is identified as redundant, a Targeted Voluntary Separation Package shall be available to the Employee if Council is unable to redeploy the Employee to a reasonable position at the same classification level with similar responsibilities and at an agreed location.

  • Letter of Understanding # 41 Between Kautex Textron North America (hereinafter referred to as “the Company”) The Company will offer a modified Voluntary Separation Package (VSP) to employees who turn 60 years of age during the life of this agreement.

  • If Steps 1 and 2 are not achievable, provision of a Voluntary Separation Package (VSP).

  • However, employees whose positions are deemed redundant may access a Voluntary Separation Package at any stage of the process provided that no more than three (3) months has elapsed in the redeployment position.

  • Should an eligible employee decline to participate in the ERIP, he/she will be eligible to receive a Voluntary Separation Package (VSP) provided that he/she qualifies as described in Item 5 below.

Related to Voluntary Separation Package

  • Net death benefit means the amount of the life insurance policy or certificate to be settled less any outstanding debts or liens.

  • 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”).

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

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

  • Projected Annual Benefit means the Annual Benefit as defined in subsection (2) above, to which the Participant would be entitled under the terms of the Plan assuming: (A) the Participant will continue employment until the Normal Retirement Date under the Plan (or current date,if later) and (B) the Participant's Compensation for the current Limitation Year and all other relevant factors used to determine benefits under the Plan will remain constant for all future Limitation Years.