Severance Calculation. (a) A Regular Full-time Employee shall be eligible for severance pay in the amount of two (2) week’s full-time pay at their Basic Rate of Pay for each full year of continuous employment to a maximum of forty (40) weeks’ pay. (b) A Regular Part-Time Employee shall be eligible for severance pay in the amount of two (2) week’s full-time pay at their Basic Rate of Pay for each full period of one thousand nine hundred (1900) hours worked at the Basic Rate of Pay to a maximum of forty (40) weeks’ pay. (c) For purposes of severance, continuous employment will be calculated from the last date of hire recognized with the Employee’s current Employer.
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Sources: Collective Agreement, Collective Agreement