(1) The precise terms and conditions of every academic appointment shall be stated in writing and be in the possession of both the University and the appointee before the appointment is consummated. The Statement of Policy, or any modification thereof, will be made available to all administrative and teaching personnel.
(2) Except as provided in this paragraph, all academic appointments shall be made either (a) for a stipulated number of years, (b) for a continuing term of appointment, or (c) without limit of time. An academic appointment without limit of time shall be considered as a permanent appointment i.e. the term shall be understood to extend from the effective date of the appointment to the date of academic retirement of the appointee. Conditions of an academic appointment made for a continuing term are specified in Section 4.4.2(3) of this Statement. Exception: An academic appointment made for the duration of either (a) an administrative appointment or (b) a specific project, which appointment or project is indefinite as to time, shall, unless otherwise expressly stipulated, be construed as terminating on the expiration of the appointment or the project. Academic appointees terminated under this provision are entitled to the benefits conveyed in Section 4.4.5 of this Statement.