Incumbents of positions reclassified to a classification having a lower level of responsibility shall be given an opportunity to return to a vacant position in the former classification. If a vacancy does not exist at such time, the name of the incumbent shall be placed on a re-appointment list by seniority for the former classification. An individual may decline one offer to return to the former classification and remain at current salary. An individual declining a second offer to return to the former classification shall have the rate of pay immediately reduced to the rate established by ordinance for the current classification, or to the red-circled rate of pay for the current classification whichever is higher.