I. Definition

In this Plan:

A.    “Base Pay” means the Eligible Employee’s base salary provided for services to the University, as of May 31, 2021. For full-time academic administrators who hold faculty status, “Base Pay” means the Eligible Employee’s return-to-faculty salary as of May 31, 2021. If such return-to-faculty salary amount is not included in the employee’s current Unclassified Employment Agreement, offer letter, or other document, the Provost, in consultation with the academic administrator and other applicable parties (e.g., Dean of the involved College), will determine an appropriate return-to-faculty salary based on the University’s current employment practices. 

B.    “Code” means the Internal Revenue Code of 1986, as amended, and the guidance thereunder.

C.    “Eligible Employee” means a full-time faculty member on a nine-month contract who has completed three (3) full years of academic service as of May 31, 2021; and full-time faculty members and academic administrators with faculty status on a twelve-month contract who have completed three (3) full years of service with a hire date on or before June 1, 2018. 

Notwithstanding any provision to the contrary herein, Eligible Employee does not include: part-time, temporary, or contracted employees; or those who have retired and have subsequently been rehired by the University.

D.    “Exit Date” means a date from May 31, 2021  through August 31, 2021, as elected by the employee on the “Notice of Enrollment and Employee Information Form”, or such alternative retirement or separation date as determined by the University in accordance with the terms of this Plan.

E.    “University” means Kent State University.

F.    “Window Period” means the period in which an Eligible Employee may make an election to participate in this Plan, as defined in Section V of this Plan.