Dismissal Pay Allowances Sample Clauses

Dismissal Pay Allowances. A regular employee whose service with the Company (as set forth in Article 12) exceeds six (6) months, and who has been laid off because of reduction of force, may receive dismissal pay in accordance with the following table. Any such employee who is eligible for early retirement under the provisions of the retirement plan may, and the Company will consent, elect to retire and in that event he shall not be eligible to receive any dismissal pay. Total Allowance in Weeks of Pay Service Seniority Per Year of Service 6 months but less than 1 year 0.50 week 1 year but less than 6 years 1.00 week 6 years but less than 11 years 1.25 weeks 11 years but less than 16 years 1.60 weeks 16 years but less than 21 years 2.00 weeks 21 years but less than 30 years 2.60 weeks 30 years but less than 35 years 3.00 weeks 35 years or more 105 weeks (max. allowance) The total amount of dismissal pay shall be computed on the basis of the employee's "dismissal hourly rate." This rate shall be his hourly base rate of pay (including shift component if classified on a shift job for twelve (12) months prior to date of layoff) as the date of layoff or the average straight time rate of pay which he has received for the sixty (60) month period prior to the date of layoff, whichever is the greater.
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Related to Dismissal Pay Allowances

  • Compensation Benefits and Expenses During the Term, Company shall compensate Employee for his services as follows:

  • - Separation Allowances (a) Where an employee resigns within 30 days after receiving notice of layoff pursuant to article 9.08(a)(ii) that his or her position will be eliminated, he or she shall be entitled to a separation allowance of two (2) weeks' salary for each year of continuous service to a maximum of twelve (12) weeks' pay, and, on production of receipts from an approved educational program, within twelve (12) months of resignation, may be reimbursed for tuition fees up to a maximum of three thousand ($3,000) dollars.

  • Employer Contribution (a) An Employer contribution for health and dental benefits will only be made for each active employee who has at least eighty (80) paid regular hours in a month and who is eligible for medical insurance coverage, unless otherwise required by law.

  • Employer Contributions 8.1 Rates at which the Employer shall contribute for each hour of work performed on behalf of each employee employed under the terms of this Agreement are contained in the Appendices attached to and forming part of this Agreement.

  • Maternity Allowance (a) An employee who has been granted maternity leave without pay shall be paid a maternity allowance in accordance with the terms of the Supplemental Unemployment Benefit (SUB) Plan described in paragraph (c) to (i), provided that she:

  • Compensation Benefits and Reimbursement (a) The compensation specified under this Agreement shall constitute the salary and benefits paid for the duties described in Section 2(b). The Association shall pay Executive as compensation a salary of not less than $_____________ per year ("Base Salary"). Such Base Salary shall be payable biweekly, or with such other frequency as officers and employees are generally paid. During the period of this Agreement, Executive's Base Salary shall be reviewed at least annually. Such review may be conducted by a Committee designated by the Board, and the Board may increase, but not decrease (except a decrease that is generally applicable to all employees), Executive's Base Salary (any increase in Base Salary shall become the "Base Salary" for purposes of this Agreement). In addition to the Base Salary provided in this Section 3(a), the Association shall provide Executive at no cost to Executive with all such other benefits as are provided uniformly to permanent full-time employees of the Association. Base Salary shall include any amounts of compensation deferred by Executive under qualified and nonqualified plans maintained by the Association.

  • Compensation/Benefit Programs During the Term of Employment, the Executive shall be entitled to participate in all medical, dental, hospitalization, accidental death and dismemberment, disability, travel and life insurance plans, and any and all other plans as are presently and hereinafter offered by the Company to its executive personnel, including savings, pension, profit-sharing and deferred compensation plans, subject to the general eligibility and participation provisions set forth in such plans.

  • Vacation Pay on Termination An employee whose employment is terminated shall receive vacation pay at the appropriate percentage of the wages or salary earned during the period of entitlement in accordance with the employee's years of service.

  • Compensation Benefits In accordance with Section 142 of the State Finance Law, this contract shall be void and of no force and effect unless the Contractor shall provide and maintain coverage during the life of this contract for the benefit of such employees as are required to be covered by the provisions of the Workers' Compensation Law.

  • Separation Allowance 13.01 Should it become necessary to close the plant or a portion of the plant and it is not expected that those affected will be re-employed, a separation allowance will be paid to employees subject to the following:

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