1. (1) In this section, “eligible employee” means an employee of executive rank of an old municipality or a public library board of an old municipality including an employee in a managerial or supervisory position but does not include an employee whose position is subject to a collective agreement.  O. Reg. 538/00, s. 1 (1). (2) Subject to subsections (3) to (6),  the transition board may, on or before December 31, 2000, (a) enter into agreements with one or more eligible employees to provide for the termination of their employment with an old municipality, a public library board of an old municipality or with the city or a local board of the city; and (b) establish one or more classes of eligible employees for the purpose of clause (a).  O. Reg. 538/00, s. 1 (2). (3) Agreements under this section may be different for different classes of employees established under clause (2) (b) and may be different for different employees including for different employees in the same class.  O. Reg. 538/00, s. 1 (3). (4) Before exercising its power under clause (2) (a),  the transition board shall, with respect to an eligible employee who is not in a class established under clause (2) (b), (a) identify whether the employee is an employee with whom the board is not willing to enter into an agreement under this section; (b) identify whether the employee is an employee with whom the board is willing to enter into an agreement under this section but does not wish the employee’s employment to be terminated before January 1, 2001; and (c) for each employee not identified under clause (a), (i) determine the total amount of salary and benefits of the employee that the transition board would save on an annualized basis by entering into the agreement; and (ii) determine the total amount that would be spent to implement the agreement with the employee.  O. Reg. 538/00, s. 1 (4). (5) Before exercising its power under clause (2) (a), the transition board shall, with respect to eligible employees who are in a class established under clause (2) (b), (a) identify those employees in the class with whom the board is not willing to enter into an agreement under this section; (b) identify those employees in the class with whom the board is willing to enter into an agreement under this section but does not wish the employee’s employment to be terminated before January 1, 2001; and (c) for employees not identified under clause (a), (i) determine the total amount that the transition board wishes to save on an annualized basis by entering into the agreements; and (ii) determine the total amount that would be spent to implement the agreements with eligible employees in the class to achieve the savings determined under subclause (i).  O. Reg. 538/00, s. 1 (5). (6) The transition board shall not enter into an agreement under this section if, (a) the eligible employee is a person identified under clause (4) (a) or (5) (a); (b) the eligible employee is a person identified under clause (4) (b) or (5) (b) and the agreement would terminate the employee’s employment before January 1, 2001; or (c) it would result in the total amount of expenses determined under subclause (4) (c) (ii) or (5) (c) (ii) being exceeded.  O. Reg. 538/00, s. 1 (6). (7) The amounts required, before January 1, 2001, by the transition board to implement the agreements under this section shall be charged by the transition board to The Regional Municipality of Hamilton-Wentworth and shall be paid by the regional municipality to the transition board in the amounts and at the times specified by the transition board despite the fact that the amounts have not been included in the estimates of the transition board or the operating budget of the regional municipality under section 27 of the Act and despite any regulation made under section 26 of the Act and any guideline of the transition board.  O. Reg. 538/00, s. 1 (7). (8) The amounts required, on or after January 1, 2001, by the transition board to implement agreements entered into under this section shall be charged by the transition board to the city and shall be paid by the city to the transition board in the amounts and at the times specified by the transition board.  O. Reg. 538/00, s. 1 (8). (9) If the employment of an employee of an old municipality, other than The Regional Municipality of Hamilton-Wentworth, or an employee of a public library board is terminated on or before December 31, 2000, pursuant to an agreement under this section, the old municipality or the public library board, as the case may be, shall within 10 days from the date of the termination of employment pay to the regional municipality the amount of the remuneration and benefits that would have been paid in respect of that employee from the date of termination to the end of 2000, if the employment had continued for that period.  O. Reg. 538/00, s. 1 (9). (10) Despite subsection (9), the maximum amount that shall be paid in respect of an employee under that subsection shall not exceed the amount agreed upon under clause (2) (a).  O. Reg. 538/00, s. 1 (10). (11) Nothing in this section interferes with the right of an employee to terminate employment and to initiate proceedings for that purpose and, despite this section, the board may enter into agreements to facilitate the termination.  O. Reg. 538/00, s. 1 (11).