An employee who elects severance pay in lieu of recall and preference for reemployment shall be paid a lump sum amount based upon the payment schedule outlined in the appropriate personnel policy or collective bargaining agreement.

An employee whose time has been reduced indefinitely shall receive severance pay for the percent of time reduced.

Individuals who return to work or have their time increased after receiving severance pay may be required to reimburse the University for all or a portion of the severance pay.

Voluntary resignation prior to layoff date will nullify any severance pay election.

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