If you are a regular, salaried employee and your employment ends involuntarily, you may be eligible for the severance pay benefits provided through the severance plan.  In other words, the Company must initiate the termination, and it should be reflected as such in the Company’s records.

You will not be eligible for severance benefits if you voluntarily terminate employment for any reason unless you voluntarily terminate employment after receiving a Notification Letter (as defined in the following paragraphs).

The reason for your termination must not be due to “cause.” The Company defines “cause” as termination due to poor performance, misconduct, or a violation of the Company’s rules or policies.

You also will be eligible for severance pay benefits if your employment is terminated because you are Disabled (as noted in the Glossary) and after one of the following events occur:

• you receive benefits for 24 consecutive months under the Company’s long-term disability plan and are approved for the second phase of long-term disability benefits

or

• you are no longer considered to be Totally Disabled (during the initial 24-month period of receiving long-term disability benefits under the Company’s plan), but the Company does not have a position available for you to return to work at that time.

To qualify for severance pay benefits, you also must receive a Notification Letter from an authorized Company official stating that your employment is being terminated and that you are eligible for severance pay benefits.  This letter will be sent to you immediately before or at the time of your termination of employment.  In the case of disability, you will be notified as soon as possible after the Company determines you are eligible for severance pay because of disability. 

The letter will indicate your Termination Date. If you do not receive a Notification Letter, you will not receive and are not eligible for severance pay benefits.

Your Termination Date The date designated by the Company as your last day of active employment is called your “Termination Date.” The Company reserves the right to change your Termination Date if business circumstances require it.