Amount and Payment of Benefit. An eligible employee's total lump sum or income continuation benefit shall equal one week of pay based on the employee’s base salary at the time of layoff (but excluding any shift differentials or other premiums) for each full year of Company service as of the employee's layoff date, subject to a maximum benefit of 26 weeks of pay. Eligible employees may elect either of the following:
Appears in 11 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
Amount and Payment of Benefit. An eligible employee's total lump sum or income continuation benefit shall equal one (1) week of pay based on the employee’s base salary at the time of layoff (but excluding any shift differentials or other premiums) for each full year of Company service as of the employee's layoff date, subject to a maximum benefit of 26 twenty-six (26) weeks of pay. Eligible employees may elect either of the following:
Appears in 4 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
Amount and Payment of Benefit. An eligible employee's ’s total lump sum or income 41 continuation benefit shall equal one week of pay based on the employee’s base salary at the time of layoff 42 (but excluding any shift differentials or other premiums) for each full year of Company service as of the 43 employee's ’s layoff date, subject to a maximum benefit of 26 weeks of pay. Eligible employees may elect 44 either of the following:: 45
Appears in 1 contract
Samples: Collective Bargaining Agreement
Amount and Payment of Benefit. An eligible employee's total lump sum or income continuation benefit shall equal one (1) week of pay based on the employee’s base salary at the time of layoff (but excluding any shift differentials or other premiums) for each full year of Company service as of the employee's layoff date, subject to a maximum benefit of 26 weeks of pay. Eligible employees may elect either of the following:twenty-six
Appears in 1 contract
Samples: Collective Bargaining Agreement
Amount and Payment of Benefit. An eligible employee's ’s total lump sum or income 1 continuation benefit shall equal one week of pay based on the employee’s base salary at the time of layoff 2 (but excluding any shift differentials or other premiums) for each full year of Company service as of the 3 employee's ’s layoff date, subject to a maximum benefit of 26 weeks of pay. Eligible employees may elect 4 either of the following:: 5
Appears in 1 contract
Samples: Collective Bargaining Agreement
