Common use of Severance Option Clause in Contracts

Severance Option. An employee about to have their hours reduced may elect not to bump and may instead choose to take severance pay as provided in Article 3.04 under the conditions shown below: (i) The effect of the reduction in hours is to change an employee’s status from regular to school term, or; (ii) The employee’s hours of work are being reduced by one (1) or more hour(s) per shift in the school year, and; (iii) The laid off employee is at least fifty (50) years of age.

Severance Option. An employee about to have their his/her hours reduced may elect not to bump and may instead choose to take severance pay as provided in Article 3.04 3.03 under the conditions shown show below: (i) The effect of the reduction in hours is to change an employee’s status from regular to school term, or; (ii) The employee’s hours of work are being reduced by one (1) or more hour(s) per shift in the school year, and; (iii) The laid off employee is at least fifty (50) years of age.