Voluntary Lay Off definition

Voluntary Lay Off. An employee who would otherwise have not been laid off may opt to be voluntarily laid off.

Related to Voluntary Lay Off

  • Voluntary Resignation means any Termination by Employee for any reason other than a Constructive Termination.

  • Involuntary Termination means a termination of your employment with the Company pursuant to either (i) a termination initiated by the Company without Cause, or (ii) your resignation for Good Reason, and provided in either case such termination constitutes a Separation from Service. An Involuntary Termination does not include any other termination of your employment, including a termination due to your death or disability.

  • extended reduction means a reduction under this scheme for which a person is eligible under Part 12 (extended reductions);

  • extended reduction period means the period for which a person is in receipt of an extended reduction in accordance with paragraph 89, 96 or 101;

  • day of the making of the offer means the day on which the Company announces its intention to make an offer for the purchase of Shares from Shareholders, stating the purchase price (which shall not be more than the Maximum Price calculated on the foregoing basis) for each Share and the relevant terms of the equal access scheme for effecting the Off-Market Purchase.

  • Prepayment means any prepayment, whether in part or in full, in respect of any Receivable.