Common use of Severance Provision Clause in Contracts

Severance Provision. A. Employees accepting severance under the terms outlined in Section 2:04 (Employee "A" or "B") will receive payment under the following schedule: Payment Schedule 0 up to 3 years continuous service $1,000 3 up to 7 years continuous service $3,000 7 up to 13 years continuous service $6,000 13 up to 20 years continuous service $9,000 20 up to 25 years continuous service $13,000 25 or more years continuous service $14,000

Severance Provision. A. Employees accepting severance under the terms outlined in Section 2:04 (Employee "A" or "B") will receive payment under the following schedule: Payment Schedule Schedule‌ 0 up to 3 years continuous service $1,000 3 up to 7 years continuous service $3,000 7 up to 13 years continuous service $6,000 13 up to 20 years continuous service $9,000 20 up to 25 years continuous service $13,000 25 or more years continuous service $14,000