Calculation of Severance Pay. Claims for severance pay for any Master who loses employment because of the abandonment of ferry routes due to the construction of bridges or tubes, or privatization shall be based on one (1) month’s pay for each year of service after taking into consideration the employee’s seniority, residence and locale of any employment offered.
Calculation of Severance Pay. An eligible employee shall receive as severance pay upon her/his retirement, the amount obtained by multiplying the number of his/her accrued accumulative leave days up to 480 hours, times her/his hourly rate of pay at the time of retirement, disability or death, times the percentage determined by the employee’s years of service on her/his last day of employment. 10 full years of service 40% 15 full years of service 50% 20+ full years of service 60%
Calculation of Severance Pay. 11.6.2.1 Immediately upon appointment, permanent regular employees are entitled to be paid one month's severance pay should their employment, as a result of the discontinuance of the course for which they are employed or the reduction of the number of employees required for the course, be terminated by the employer within one year of their appointment as permanent regular employees. Should such severance occur after one year, the employees' entitlement to severance pay shall be increased by one month's salary every additional year of employment with the College and pro-rated monthly, up to a maximum of 5 months for the first 5 years and further pro-rated monthly by one month for each 3 years of employment thereafter to a combined total of 10 months. Such severance pay shall be based on the rate of pay of which the terminated employees are in receipt at the date notices are received.
Calculation of Severance Pay for the transition from full- to part-time employment If, within ten years (provided that the employment relationship was established before or on
Calculation of Severance Pay. 11.10.2.1 Severance pay for permanent regular faculty members whose employment is terminated under Article 11 shall be calculated as described below. Severance pay shall be based on the faculty member’s rate of pay on the date when notice of xxxxxx was received. Complete Years of Continuous Employment Severance Pay (Months of Salary) Less than 1 1 month 1 but less than 2 1 month, plus 1/12 month for each complete month after 1 year 2 but less than 3 2 months, plus 1/12 month for each complete month after 2 years 3 but less than 4 3 months, plus 1/12 month for each complete month after 3 years 4 but less than 5 4 months, plus 1/12 month for each complete month after 4 years 5 but less than 8 5 months, plus 1/36 month for each complete month after 5 years 8 but less than 11 6 months, plus 1/36 month for each complete month after 8 years 11 but less than 14 7 months, plus 1/36 month for each complete month after 11 years 14 but less than 17 8 months, plus 1/36 month for each complete month after 14 years 17 but less than 20 9 months, plus 1/36 month for each complete month after 17 years 20 or more 10 months
Calculation of Severance Pay. Severance pay shall be calculated at a rate of one month’s pay at the employee’s current rate of pay for each full year of working service. Partial years of employment shall be prorated for this calculation. Regardless of years of working service, the maximum amount payable by way of severance shall be limited to twelve (12) months pay and payable to the employee on the last day of their notice period. (See Article 17.7.8)
Calculation of Severance Pay. X. Xxxxxxxxx pay will be based upon the daily rate of pay as determined from the individual's contract last in effect prior to the termination of employment.
Calculation of Severance Pay. The severance pay applicable under the conditions set forth herein is as follows: Years of Seniority Weeks of Pay Less than one 0 One but less than two 1 Two but less than three 2 Three but less than four 3 Four but less than five 4 Five but less than fifteen at least 1 ½ weeks for every year of service Fifteen or more at least 2 weeks for every year or service with a maximum of fifty-two (52) weeks A week of pay for the purpose of Article 25.9 shall mean 1/52 of annual regular salary.
Calculation of Severance Pay. An employee meeting the eligibility requirements of Section 1, Subdivision 1, at the time of resignation, retirement, disability or death, shall receive severance pay as follows:
Calculation of Severance Pay a. Employees hired prior to July 1, 2010 who do not receive a 403b match shall receive as severance pay upon his/her retirement, the amount obtained by multiplying the number of his/her accrued accumulative leave days times his/her daily rate of pay at the time of retirement, disability or death.
