COLLECTIVE BARGAINING AGREEMENT Between NEW YORK UNIVERSITY And LOCAL ONE SECURITY OFFICERS UNION
July 1, 2001 - June 20, 2006

APPENDIX B

Severance Pay

A. For those employees employed subsequent to September 1, 1972, the following provisions shall govern;

1. In case of termination of employment because of the employee's physical or mental inability to perform his duties or from reduction in force, the employee shall receive, in addition to accrued vacation credits, termination pay according to service with the Employer, as follows:

Employees with 5 but less than 10 years - 1 week's pay
Employees with 10 but less than 12 years - 2 weeks' pay
Employees with 12 but less than 15 years - 3 weeks' pay
Employees with 15 but less than 17 years - 6 weeks' pay
Employees with 17 but less than 20 years - 7 weeks' pay
Employees with 20 but less than 25 years - 8 weeks' pay
Employees with 25 years or more - 10 weeks' pay

As an employee physically or mentally unable to perform his duties may resign and receive the above termination pay if he submits satisfactory evidence of such inability. If the Employer does not deem the evidence satisfactory, such question may be submitted to grievance and arbitration.

2. The right to accept termination pay and resign where there has been a reduction in force shall be determined by seniority, i.e., termination pay shall be offered to the most senior employee, then to the next more senior, and so on, until accepted. If no employee accepts the offer, the least senior employee or employees shall be terminated and shall receive any applicable termination pay.

3. "Week's pay" in the above paragraphs means the regular straight-time weekly pay at the time of termination. If the Employer offers part-time employment to the employee entitled to termination pay, he shall be entitled to termination pay for the period of his full-time employment, and if he accepts such part-time employment, he shall be considered a new employee for all purposes.

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