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VOLUNTARY SEVERANCE PROGRAM

For Continuing Academic Staff Member

(“VSP”)

SEVERANCE AGREEMENT

Between

The Governors of the University of Alberta

(hereafter referred to as the “University”)

and

(hereafter referred to as the “Academic Staff Member”)

The purpose of this Agreement is to set out the terms and conditions of the voluntary resignation or

retirement of the Academic Staff Member from his/her appointment in the <insert Dept and/or

Faculty> at the University.

By his/her signature to this Agreement, the Academic Staff Member hereby voluntarily resigns or

retires as an employee and member of the academic staff of the University effective <insert Date>

(hereafter referred to as the “End Date”). In signing this agreement, the Academic Staff Member

agrees that he/she will not seek or accept re-employment or a contract (direct or indirect) with the

University or any affiliated organization for a period of time equal to the number of months of

severance paid. The Academic Staff Member also acknowledges that, in signing this agreement,

he/she waives any rights to a Phased Retirement Period, if applicable under the terms of Article 18 of

his/her Staff Agreement.

By the signature of its authorized representative upon this Agreement, the University hereby accepts

the voluntary resignation or retirement of the Academic Staff Member effective (the End Date).

In consideration of the resignation/retirement of the Academic Staff Member and the execution of

this Agreement, the University will provide the Academic Staff Member with a Severance Payment

of $<insert $ amount>, less statutory withholdings or deductions, representing a sum equivalent to

<insert # of months> months’ salary. This amount will be paid out in accordance with the Academic

Staff Member’s completed VSP/ RRSP Transfer and Payment Schedule Form, which must be

provided to Payroll Operations no later than the End Date.

Vacation Pay, if any, will be paid out in accordance with the Staff Agreement, if and as required, and

upon the direction of the department/Faculty.

In the event that the Academic Staff Member dies prior to the End Date, the Severance Payment will

be extinguished and no further sums will be payable. If the Academic Staff Member dies after the

End Date but prior to payment of all of the Severance Payment, the remaining balance will be paid to

the Academic Staff Member's estate. This Agreement does not extinguish any death in service

benefit accruing to the Academic Staff Member’s estate prior to <the end date> in accordance with

the Death in Service Article of his/her agreement, where applicable.

/academic services/VSP/staff member’s name>

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Vsp University Of Alberta