Common use of SEVERANCE AND LAYOFF PAY Clause in Contracts

SEVERANCE AND LAYOFF PAY. (a) 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 three (3) weeks' pay based on one hundred and twenty (120) hours at his then applicable rate of pay. Such an employee may elect to accept layoff pay under the provisions of this section before the end of his right to recall period, but in so doing shall forfeit all his seniority rights accruing to him under this Agreement, by reason of his term of service with the Company.

SEVERANCE AND LAYOFF PAY. (a) 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 five (25) years' service with the Company, Company he shall be paid three two (32) weeks' pay based on one hundred and twenty eighty (12080) hours at his then applicable rate of pay. Such an employee may elect to accept layoff lay-off pay under the provisions of this section Section before the end of his right to recall period, but in so doing shall forfeit all his seniority rights accruing to him under this Agreement, by reason of his term of service with the Company.

SEVERANCE AND LAYOFF PAY. (a) 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 five (25) years' service with the Company, Company he shall be paid three two (32) weeks' pay based on one hundred and twenty eighty (12080) hours at his then applicable rate of pay. Such an employee may elect to accept layoff lay-off pay under the provisions of this section Section before the end of his right to recall period, but in so doing shall forfeit all his seniority rights accruing to him under this AgreementAgreem ent, by reason of his term of service with the Company.

SEVERANCE AND LAYOFF PAY. 18.01 (a) 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 CompanyEmployer, he shall be paid three (3) weeks' pay based on one hundred and twenty (120) hours at his then applicable rate of pay. Such an employee may elect to accept layoff pay under the provisions of this section before the end of his right to recall period, but in so doing shall forfeit all his seniority rights accruing to him under this Agreement, by reason of his term of service with the CompanyEmployer.