Common use of Acceptance of Severance Pay Clause in Contracts

Acceptance of Severance Pay. (a) Vested Entitlements It is understood and agreed that at such time as an Employee accepts severance pay in accordance with this Agreement, and the severance pay is paid in full, the Employee's employment shall be terminated and such Employee shall have no further rights or entitlements under this Agreement, except for the following: (i) continuation of any coverage the Employee is entitled to receive, subsequent to termination of employment, under any of the benefit plans referred to in this Agreement; and (ii) any vested rights or entitlements arising out of Article 32 (RRSP Plan); and (iii) any other accrued benefits or entitlements not paid to the Employee at the time of termination of employment.

Acceptance of Severance Pay. ‌ (a) Vested Entitlements It is understood and agreed that at such time as an Employee accepts severance pay in accordance with this Agreement, and the severance pay is paid in full, the Employee's employment shall be terminated and such Employee shall have no further rights or entitlements under this Agreement, except for the following: (i) continuation of any coverage the Employee is entitled to receive, subsequent to termination of employment, under any of the benefit plans referred to in this Agreement; and (ii) any vested rights or entitlements arising out of Article 32 (RRSP Plan); and (iii) any other accrued benefits or entitlements not paid to the Employee at the time of termination of employment.