Common use of Method of Payment of Dismissal Pay Clause in Contracts

Method of Payment of Dismissal Pay. Employees eligible for dismissal pay and who elect to receive it shall be paid on the pay day following date of layoff the amount of dismissal pay to which they may be eligible up to and including eight (8) weeks' pay, "computed at their dismissal hourly rate," and thereafter on each subsequent pay day the sum of one and one half (1 1/2) weeks' pay, also computed at their "dismissal hourly rate," until the total amount of dismissal pay for which they are eligible shall be exhausted, or until as vested employees they may become eligible for early retirement. In the event of the death of an employee while receiving dismissal payments, such payments shall cease; except that in the event such employee is married or has unmarried children under age twenty-one at the time he is laid off, then such payments shall be continued to the extent of the amount remaining in accordance with the schedule included in (1), solely to the spouse while living and unmarried, or in the event of the spouse's death or remarriage, the payments shall be equally divided between such unmarried children of the employee until they reach the age of twenty-one.

Method of Payment of Dismissal Pay. Employees eligible for dismissal pay and who elect to receive it shall be paid on the pay day following date of layoff the amount of dismissal pay to which they may be eligible up to and including eight (8) weeks' pay, "computed at their dismissal hourly rate," and thereafter on each subsequent pay day the sum of one and one half (1 1/2) weeks' pay, also computed at their "dismissal hourly rate," until the total amount of dismissal pay for which they are eligible shall be exhausted, or until as vested employees they may become eligible for early retirement. In the event of the death of an employee while receiving dismissal payments, such payments shall cease; except that in the event such employee is married or has unmarried children under age twenty-one at the time he is laid off, then such payments shall be continued to the extent of the amount remaining in accordance with the schedule included in (1), solely to the spouse while living and unmarried, or in the event of the spouse's death or remarriage, the payments shall be equally divided between such unmarried children of the employee until they reach the age of twenty-twenty- one.