Severance Pay Sample Clauses

Severance Pay. 19.01 Under the following circumstances and subject to clause 19.02, an employee shall receive severance benefits calculated on the basis of his weekly rate of pay:

Severance Pay. Employees who are separated because of a layoff or reduction in force shall be entitled to severance pay in accordance with Part 435 of the Employee and Labor Relations Manual.

Severance Pay. Within the lesser of thirty (30) days from the date of notice of layoff or the notice provided above, an employee with more than twelve (12) months’ service with The Employer, who has received notice of layoff of a permanent or long-term nature, may resign, forfeiting the right to notice. Such employees will receive the balance of notice as severance pay.

Severance Pay. An employee whose employment is terminated by reason of redundancy is entitled to the following amount of severance pay in respect of a period of continuous service: Less than 1 year Nil 1 year and less than 2 years 4 weeks’ pay* 2 years and less than 3 years 6 weeks’ pay* 3 years and less than 4 years 7 weeks’ pay* 4 years and less than 5 yeas 8 weeks’ pay* 5 years and less than 6 years 10 weeks’ pay* 6 years and less than 7 years 11 weeks’ pay* 7 years and less than 8 years 13 weeks’ pay* 8 years and less than 9 years 14 weeks’ pay* 9 years and over 16 weeks’ pay* *weeks pay is defined in clause 35.1.5

Severance Pay. 13.01 Severance Pay: Should it become economically necessary to close the entire location or a particular major section or sections of the said location on a permanent basis and it is not reasonably expected that those affected will be re-employed in this or any other of the Company's operations subject to Article 13.01 (d) a separation allowance will be paid to such employees subject to the following: (a) They are presently employed by the Company and are accumulating seniority or have been laid off not later than ninety (90) days prior to the location's closing date. (b) The closing is not brought about by war, strike, walkout, work stoppage, slowdown or other cessation of work, fire, government action or Act of God. (c) Employees shall have the option to receive severance pay or transfer to another location. Said option shall be exercised within ninety (90) days of the date of closure. The scale for severance allowance shall be based on the following formula: Less than 1 year Nil 1 year to 2 years 2 weeks’ pay 3 years to 6 years 3 weeks’ pay Years of service beyond 6 years service will apply the “formula” The number of years' service minus five (5), times two (2) weeks' pay. Example: 7 years - 5 x 2 = 4 weeks’ pay 10 years - 5 x 2 = 10 weeks' pay 20 years - 5 x 2 = 30 weeks' pay 30 years - 5 x 2 = 50 weeks' pay An employee shall have the option to remain on the payroll and the seniority list for possible recall. In this event, the Company shall hold the severance allowance until the employee is recalled or ninety (90) days, whichever is sooner. If the employee is recalled within the foregoing period, no severance allowance shall be payable. If the employee is NOT recalled within ninety (90) days, the severance allowance shall be paid by the Company forthwith. For the purposes of this section, the location shall be deemed to be closed on a permanent basis, when it or they cease to operate for a period of ninety (90) days. 13.02 Employees who receive severance pay under the provisions of this Article shall, in doing so, terminate both their seniority and employment relationship with the Company and shall have no further rights or privileges under this Agreement or under any other Labour agreement or agreements between the signing parties.

Severance Pay. Employees discharged, laid off or displaced from their regular job because of mechanization, technological change or automation shall be entitled to severance pay of seven (7) days’ pay for each year of service with the Company. The amount calculated under such entitlement shall not exceed a maximum of thirty (30) weeks’ pay. This Section shall not apply to employees covered by Section 2 (b) above.

Severance Pay. Any classified Employee or Assistant City Attorney who is involuntarily laid off from their employment with the City, shall be entitled to severance payments for a severance period equal to four months of that Employee’s Monthly Pay as of the final day of employment, plus one additional week, calculated at .23 of that Employee’s Monthly Pay as of the final day of employment, for each year of service in excess of 16 years, with total payment not to exceed 26 weeks. Such payments shall include salary, earned longevity award, and any other contractual monthly payments customarily made to Employee. Employer shall continue any severed Employee’s hospital-medical, life, and dental coverages, including monthly employer premium cost-sharing, to the same extent as active employees during the severance period. A correctly calculated portion of the severed Employee’s severance payments shall be made to the Employee each pay period during the severance period. However, on the pay date following four pay periods of severance payments, the Employer shall pay the total remaining severance payment amount to the Employee. If the severed Employee returns to any position with the Employer during his or her severance period, severance payments shall cease and Employee shall forfeit any remaining severance amounts not already paid. Unless specifically provided for in this Article 18, a severed Employee shall not receive or be eligible for any additional benefit provided under this Agreement during the severance period other than re-employment rights set forth in Article 30. Except for Assistant City Attorneys, when an Employee’s employment shall cease as described in this article, the Employer may, at its sole discretion, offer that Employee a different position. If pay in the new position is equal to or greater than the pay of the position the Employee is leaving, then no severance pay is due under this article. If the pay of the new position is less than that of the old one, then the Employee shall continue to receive the pay rate of the position the Employee is leaving for the severance period calculated above. This Article does not apply to Employees discharged for cause, probationary Employees, or Employees in a provisional or substitute appointment.

Severance Pay. ‌ (1) In addition to the period of notice prescribed for ordinary termination in clause 7 – Termination of employment, an employee whose employment is terminated by reason of redundancy must be paid, subject to further order of a Court with jurisdiction, the following amount of severance pay in respect of a continuous period of service: Less than 1 year Nil 1 year but less than 2 years 4 weeks’ pay 2 years but less than 3 years 6 weeks’ pay 3 years but less than 4 years 7 weeks’ pay 4 years and over 8 weeks’ pay

Severance Pay. 63.01 Under the following circumstances and subject to clause 63.02, an employee shall receive severance benefits calculated on the basis of the weekly rate of pay to which he or she is entitled for the classification prescribed in his or her certificate of appointment on the date of his or her termination of employment.