Layoff Allowance. Employees who have been with the Company for six (6) months or more shall receive a layoff allowance according to the following table: Months of Service Number of Days Pay 6 to 12 months 10 days 13 to 24 months 12 days 25 to 36 months 15 days 37 to 48 months 18 days 49 to 60 months 20 days 61 to 72 months 25 days 73 to 84 months 30 days 85 to 96 months 35 days 97 to 108 months 40 days 109 or greater than 45 days If an employee is recalled from layoff in a shorter time period than that paid in this allowance, the Company shall recover the difference if the employee accepts the Company's recall from layoff. The Company shall pay COBRA premiums for six (6) months for each employee laid off who elects COBRA coverage. Each such employee will be notified of his/her COBRA rights and must elect COBRA coverage before such COBRA payments will be made. ANNEX PR
Appears in 4 contracts
Samples: Labor Contract, Labor Contract, Labor Contract
