Lump Sum Option. An eligible employee may, with the approval of the Company, elect to receive his/her entire IEA Eligibility Amount (and any accrued vacation or other accrued amounts due) in a lump sum. Acceptance of a lump sum payment will result in a loss of seniority under Article IX, Section 3(b) of this Agreement and terminate his/her employment with the Company.
Appears in 2 contracts
Sources: Collective Bargaining Agreement, Collective Bargaining Agreement