Common use of Acceptance of Severance Pay Clause in Contracts

Acceptance of Severance Pay. Upon application Severance Allowance will be paid to the employee in a lump sum at the time of termination unless he elects to remain on a layoff status as stated in Acceptance of severance pay by the employee will terminate his status as an employee.

Acceptance of Severance Pay. Upon application Severance Allowance will be paid to the employee in a lump sum at the time of termination oftermination unless he elects to remain on a layoff status as stated in Acceptance of severance ofseverance pay by the employee will terminate his status as an employee.

Acceptance of Severance Pay. Upon application Severance Allowance will be paid to the employee in a lump sum at the time of termination unless he he/she elects to remain on a layoff status as stated in 26.3. Acceptance of severance pay by the employee will terminate his his/her status as an employee.