Severance Pay. Notwithstanding the provisions of Article 62 (Severance Pay) of this Agreement, where the period of continuous employment in respect of which severance benefit is to be paid consists of both full and part-time employment or varying levels of part-time employment, the benefit shall be calculated as follows: the period of continuous employment eligible for severance pay shall be established and the part-time portions shall be consolidated to equivalent full-time. The equivalent full-time period in years shall be multiplied by the full-time weekly pay rate for the appropriate group and level to produce the severance pay benefit.
Severance Pay. 34.3.1 In addition to the period of notice prescribed for ordinary termination in clause 36.1, an employee whose employment is terminated for reasons set out in clause 34.1.1, other than an employee of a small employer (defined as an employer who employs fewer than 15 employees) shall be entitled to the following amount of severance pay in respect of a continuous period of service: Period of continuous service Severance pay 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 less than 10 years 16 weeks' pay 10 years and over 12 weeks' pay
Severance Pay. A supervisor shall be entitled to severance pay immediately following separation from State service by reason of: • Separation, for reasons other than discharge, following five (5) years of continuous State service, and who is immediately eligible at the time of separation for Medicare; • Separation, for reasons other than discharge, following ten (10) years of continuous State service, and who is immediately entitled at the time of separation to receive an annuity under a State retirement program; • Separation, for reasons other than discharge, following twenty (20) or more years of continuous State service; • Layoff, except for seasonal layoff; or • Death. Certain supervisors shall have their severance pay converted to a Health Care Savings Plan. See Article 16, Section 11. Severance pay shall be equal to thirty-five (35) percent of the supervisor's accumulated but unused sick leave times the supervisor’s regular rate of pay at the time of separation. Supervisors who have been laid off and received severance pay and are reappointed to State service are eligible for additional severance only if they meet the continuous State service requirement. Supervisors who have received severance as a result of continuous State service and are reappointed to State service are eligible for additional severance upon separation. Severance for eligible supervisors returning to State service shall be computed upon the difference between the amount of accumulated but unused sick leave restored to the supervisor's credit at the time the supervisor was reappointed and the amount of accumulated but unused sick leave at the time of the supervisor's subsequent eligibility for severance pay. Such severance pay shall be excluded from retirement deductions and from any calculations in retirement benefits and shall be paid over a period not to exceed two (2) years from termination of employment. In the event that a terminated supervisor dies before all or a portion of the severance pay has been disbursed, that balance due shall be paid to a named beneficiary or, lacking same, to the deceased's estate.
Severance Pay. 15.01 In the event there is a permanent closure or sale or transfer of ownership of the store or part thereof, causing a regular full-time employee to lose his or her employment, the Employer hereby agrees to pay such employee severance pay at his or her regular rate of pay according to the following schedule: Full-Time Consecutive Service Severance Pay Up to two (2) years - One (1) week Over two (2) years - One (1) week's pay for every year of full-time service to a maximum of twenty (20) weeks Should a full-time employee go to part-time and later lose his/her employment due to the circumstances set out in Section 15, then such employee shall be entitled to severance pay under this Section according to his/her years of full-time consecutive service only. This Clause does not apply to a temporary layoff, full-time employees who accept other full-time or part-time employment with the Employer, or to regular full-time employees who lose employment and are reinstated within thirty (30) days to a full-time status. Employees who are laid off as the result of store closure(s) can elect to receive their severance pay at any time up to the expiry of their recall period. If an employee is recalled or commences work within the recall period, then a new recall period shall commence from the date of a subsequent layoff. Employees who qualify shall not be entitled to the benefits contained in Section 13.01 of this Agreement.
Severance Pay. The Company shall pay the Executive an amount equal to two times the sum of (A) the Executive’s Annual Base Salary (without regard to any reduction giving rise to Good Reason) and (B) the Bonus Amount, in a lump-sum payment payable on the tenth business day after the Release described in Section 4(a)(v) becomes effective and irrevocable (the “Release Effective Date”); provided, however, that such amount shall be paid in lieu of, and the Executive hereby waives the right to receive, any other cash severance payment relating to salary or bonus continuation the Executive is otherwise eligible to receive upon termination of employment under any severance plan, practice, policy or program of the Company or any Subsidiary.
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. 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. (a) In addition to the period of notice prescribed for ordinary termination in clause 3.7, and subject to further order of the Fair Work Commission, an employee whose employment is terminated for reasons set out in clause 3.8.1 (a) shall be entitled to the following amounts of severance pay: Period of Continuous Service Severance Pay (weeks’ pay) Less than 1 year nil 1 year but not more than 2 years 4 More than 2 years but not more than 3 years 6 More than 3 years but not more than 4 years 7 More than 4 years but not more than 5 years 8 More than 5 years but not more than 6 years 10 More than 6 years but not more than 7 years 11 More than 7 years but not more than 8 years 13 More than 8 years but not more than 9 years 14 More than 9 years 16