An employee in a position reclassified downward shall have the right to either (1)¬†transfer to a vacant position in his/her present classification in the same or another department, subject to the approval of the head of the department into which the transfer is proposed, or (2)¬†continue in the same position in the lower classification at a “Y” rate of pay when the incumbent’s pay is higher than the maximum step of the salary range for the lower classification.