TERMINATION ALLOWANCE. In the event of closure of all or part of the Employer’s retail store, which results in the permanent lay-off of any employees, the employer agrees to pay each employee so affected, in accordance with Company policy, the following: • Less than one (1) completed year of service: according to Employment Standards (if any). • A year or more but less than five (5) completed years of service: one (1) week’s pay for each completed year of service. • More than five (5) completed years of service: five (5) weeks for the first five (5) years of service plus one and a half (1.5) weeks per completed year of service for each subsequent year up to a maximum of thirty (30) weeks in total.
TERMINATION ALLOWANCE. 23.01 Employees whose services are terminated under any of the conditions outlined below shall be eligible for a termination allowance:
TERMINATION ALLOWANCE. 15.01 An employee, excluding an employee on probation, who is permanently laid off due to such causes as transfer or discontinuance of the manufacture of a product, introduction of new equipment or processes, closing of the Plant or part of the Plant, or other causes which, insofar as the Company can determine, permanently reduce the work force, shall be entitled to a Termination Allowance, in accordance with the following provisions: NOTE: For the purposes of this Article, a permanent lay-off is understood to be a lay-off which is expected to last continuously for a period of at least twelve (12) months.
TERMINATION ALLOWANCE. Net Credited Service Period But Less No. of Weeks Completed Than Pay 2 years 3 years 4 3 years 4 years 6 4 years 5 years 8 5 years 6 years 10 6 years 7 years 12 7 years 8 years 14 8 years 9 years 16 9 years 10 years 18 10 years 11 years 21 11 years 12 years 24 12 years 13 years 27 13 years 14 years 30 14 years 15 years 33 15 years 16 years 36 For each subsequent 6 month period: 16 years through 25 years 2 From 25 years 2 1/2
TERMINATION ALLOWANCE. (a) In the event Executive's employment with Cingular is terminated under circumstances described in Section 3(b) below, Company shall pay to Executive (or, in the event of Executive's death, to his estate) a termination allowance. The termination allowance shall be an amount equal to the sum of (i) two hundred percent (200%) of Executive's Base Salary in effect on the date of Executive's termination of employment, plus (ii) two hundred percent (200%) of the standard award amount applicable to Executive under his employer's short term bonus plan for the year in which his date of termination occurs, less all applicable withholdings, payable in a single lump sum payment. Payment of the termination allowance shall be made as soon as practicable following Executive's termination of employment under circumstances entitling him to such payment, and satisfaction of all conditions described in this Agreement on Executive's entitlement to such payment. For purposes of this Agreement, "Base Salary" shall refer to the gross annual base salary payable to Executive including (A) the amounts of any before-tax contributions made by Executive from such salary to any tax-qualified cash or deferred arrangement sponsored by his employer, and (B) the amount of any other deferrals of such salary under any nonqualified deferred compensation plan(s) maintained by his employer.
TERMINATION ALLOWANCE. Employee’s Termination Allowance will equal the sum of (a) Employee’s Monthly Base Salary multiplied by twelve (12) plus (b) Employee’s Bonus Target; provided, however, that if the Eligible Termination is a Change in Control Termination, Employee’s Termination Allowance will equal the sum of (x) Employee’s Monthly Base Salary multiplied by eighteen (18) plus (y) Employee’s Bonus Target multiplied by one and one half (1.5). Verso will pay the Termination Allowance to Employee, less all applicable reductions, taxes and other withholdings, in a lump sum cash payment within 60 days following Employee’s Separation from Service, provided that if the period for Employee to provide (and not revoke) the Release defined below spans two calendar years, the payment will be made in the second of such two years (and within the 60-day period following Employee’s Separation from Service).
TERMINATION ALLOWANCE. 26.1 Regular full-time and regular part-time employees who are laid off by the Company shall receive payment at basic wage rates in accordance with the following schedule and subject to the conditions herein stated:
TERMINATION ALLOWANCE. Section 1:
TERMINATION ALLOWANCE. 1. Notwithstanding the provisions of Article 10, Section 6 (reduction of Force and Layoff), a regular employee terminated for any of the following reasons shall receive salary to the end of the appropriate bi-weekly pay period:
TERMINATION ALLOWANCE. A Regular employee declared surplus will receive a termination allowance as follows: Net Credited Service on Date of Termination Less than year less than years less than3 years less than years less than5 years less than6 years less than7 years less than8 years less than9 years less O years O less years less years less years less years less years years and more Number of Weeks at Basic Weekly Rate* O weeks weeks weeks weeks weeks weeks weeks O weeks weeks weeks weeks weeks weeks weeks weeks X X basic weekly rate Note 1: * The basic weekly rate of pay is the monthly rate of pay divided by Note 2: For Part-time employees, the termination allowance will be paid on a prorated basis, based on the higher of the average of hours worked in the last two (2) months or the last months before termination. The following Letters of Intent are provided solely for information purposes and shall not be construed as forming part of this Collective Agreement.
