Common use of LAY-OFF PAY Clause in Contracts

LAY-OFF PAY. If an employee is laid off for a period that exceeds his right to recall as provided for in the seniority provisions of this agreement and that employee has a minimum of two (2) years' service with the Company he shall be paid two (2) weeks' pay based on eighty (80) hours at his then applicable rate of pay. Such an employee may elect to accept lay-off pay under the provisions of this Section before the end of his right to recall period, but in so doing shall forfeit all seniority rights accruing to him under this Agreement, by reason of his term of service with the Company.

LAY-OFF PAY. If an employee is laid off for a period that exceeds his right to recall as provided for in the seniority provisions of this agreement and that employee has a minimum of two (2) years' ’ service with the Company he shall be paid two (2) weeks' ’ pay based on eighty (80) hours at his then applicable rate of pay. Such an employee may elect to accept lay-off pay under the provisions of this Section before the end of his right to recall period, but in so doing shall forfeit all seniority rights accruing to him under this Agreement, by reason of his term of service with the Company.

LAY-OFF PAY. If an employee is laid off for a period that exceeds his his/her right to recall as provided for in the seniority provisions of this agreement and that employee has a minimum of two (2) years' service with the Company he shall be paid two (2) weeks' pay based on eighty (80) hours at his his/her then applicable rate of pay. Such an employee may elect to accept lay-off pay under the provisions of this Section before the end of his his/her right to recall period, but in so doing shall forfeit all seniority rights accruing to him the employee under this Agreement, by reason of his his/her term of service with the Company.