ESL definition
Examples of ESL in a sentence
In the event that ESL requires the Corporation or one of its Subsidiaries to provide the Participant a superior right or entitlement upon termination of employment or otherwise (“Statutory Entitlements”) than provided for under the Plan Documents, the Corporation or one of its Subsidiaries, as applicable, will provide the Participant with the Participant’s minimum Statutory Entitlements in substitution for the Participant’s rights under the Plan Documents.
For absolute clarity, the Parties acknowledge and agree that the intention of this provision is to rebut the common law presumption of reasonable notice and to limit the Consultant’s entitlements in the event of a without cause termination to the minimum requirements prescribed by ESL in the event the Consultant is found to be an employee or a dependent contractor.
This shall constitute the Consultant’s entire entitlement to notice of termination or pay in lieu of notice, continued benefit coverage, vacation pay and severance pay (if applicable) under ESL, pursuant to contract or at common law.
For absolute clarity, in no event will the Consultant receive less notice, pay in lieu of notice, benefit coverage, vacation pay and severance pay (if applicable) than he is minimally entitled to under ESL.
Accordingly, the Plan Documents shall: (a) not be interpreted as in any way waiving or contracting out of ESL, and (b) be interpreted to achieve compliance with such legislation.