LEAVING THE COMPANY

RESIGNATION

If you wish to voluntarily terminate your employment you are required to give notice in writing, clearly setting out the reasons for your decision, and such letters should be submitted to Management in accordance with the notice periods set down in your Principal Statement of Terms and Conditions of Service.

In addition, the Company reserves the right and at its absolute discretion to pay you in lieu of Notice.

Due to the nature of your position the Company may at its absolute discretion require you not to perform certain duties. Furthermore, you may be required to serve your notice at home, but at all times to remain available for work.

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REDUNDANCY

In the event that we have to consider a potential redundancy situation it is important for all concerned to understand that certain procedures will be considered before any final decision to implement a redundancy is taken.

Any decision to proceed with a redundancy programme will be based on either an economic, technical, or organisational reason, and any affected employee or group of employees will be fully consulted with prior to any final decision.

In the event of a potential redundancy situation we will initially consider the following steps:-

• Ensure that any overtime working is reduced to an absolute minimum.

• Restrict recruitment where such recruitment could have a bearing on the outcome of any redundancy situation.

• Investigate if appropriate measures such as short-time working and/or lay off without pay can be implemented in order to avoid any potential redundancies.

In the event that a redundancy programme is pursued all potentially affected employees will be notified of our proposals and there will be full and meaningful consultation with the target group(s) concerned. Selection criteria where applicable will be discussed with the target group(s) and no final decision will be taken without every opportunity having been given to the employee(s) concerned to consult with management and explore possible alternative positions.

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RETIREMENT

The normal age for retirement is 65, and employees attaining this age will retire at the end of the week during which their 65th birthday falls. Your employment may continue after your normal retirement age should you wish by prior agreement with the Company, giving not less than 3 months notice of your desire to do so.

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LEAVING WITHOUT WORKING NOTICE

If on leaving our employment for whatever reason, you fail to work your full contractual notice without our prior agreement, an amount equal to any loss suffered by the Company, or the additional cost of covering your duties for the period not worked will be deducted from any final monies due to you. This is an express written term of your contract of employment.

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RETURN OF COMPANY EQUIPMENT/PROPERTY

You must return such Company property as may have been entrusted to you during your employment, at least 2 working days prior to your official leaving date. In the case of summary dismissal such property must be surrendered immediately (Company property is defined as being documents, disks/data other records, equipment, stock etc.).

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