There are two programs that will be available to the pilot group. One is a Voluntary Leave of Absence. The other is an Opt-Out program where there will be a formula based on years of service for a lump-sum payout and "additional benefits". The deadline to participate in either program will be Dec 19.
The Dec 22 date is when the notification goes out to the pilots who will be affected by furlough. That is the date they will find out their expected furlough date. All furloughs will be in inverse seniority order.
Hope this clears it up a little.
EXTW