Common use of Calculation of Severance Pay Clause in Contracts

Calculation of Severance Pay. 11.6.2.1 Immediately upon appointment, permanent regular employees are entitled to be paid one month's severance pay should their employment, as a result of the discontinuance of the course for which they are employed or the reduction of the number of employees required for the course, be terminated by the employer within one year of their appointment as permanent regular employees. Should such severance occur after one year, the employees' entitlement to severance pay shall be increased by one month's salary every additional year of employment with the College and pro-rated monthly, up to a maximum of 5 months for the first 5 years and further pro-rated monthly by one month for each 3 years of employment thereafter to a combined total of 10 months. Such severance pay shall be based on the rate of pay of which the terminated employees are in receipt at the date notices are received.

Calculation of Severance Pay. 11.6.2.1 11.5.2.1 Immediately upon appointment, permanent regular employees are entitled to be paid one month's severance pay should their employment, as a result of the discontinuance of the course for which they are employed or the reduction of the number of employees required for the course, be terminated by the employer within one year of their appointment as permanent regular employees. Should such severance occur after one year, the employees' entitlement to severance pay shall be increased by one month's salary every additional year of employment with the College and pro-rated monthly, up to a maximum of 5 months for the first 5 years and further pro-rated monthly by one month for each 3 years of employment thereafter to a combined total of 10 months. Such severance pay shall be based on the rate of pay of which the terminated employees are in receipt at the date notices are received.