Common use of Amount and Payment of Benefit Clause in Contracts

Amount and Payment of Benefit. An eligible employee's total lump sum or income continuation benefit shall equal one (1) week of pay based on the employee’s base salary at the time of layoff (but excluding any shift differentials or other premiums) for each full year of Company service as of the employee's layoff date, subject to a maximum benefit of twenty-six (26) weeks of pay. Eligible employees may elect either of the following: (a) Benefits will be paid as a lump sum following the effective date of layoff. Employees who elect this option will have recall rights under Article 3 canceled.

Amount and Payment of Benefit. An eligible employee's total lump 25 sum or income continuation benefit shall equal one (1) week of pay based on the 26 employee’s base salary at the time of layoff (but excluding any shift differentials 27 or other premiums) for each full year of Company service as of the employee's 28 layoff date, subject to a maximum benefit of twenty-six (26) weeks of pay. Eligible 29 employees may elect either of the following: (a) Benefits will be paid as a lump sum following the effective date of layoff. 32 Employees who elect this option will have recall rights under Article 3 canceled.

Amount and Payment of Benefit. An eligible employee's total lump sum or 23 income continuation benefit shall equal one (1) week of pay based on the employee’s base 24 salary at the time of layoff (but excluding any shift differentials or other premiums) for each 25 full year of Company service as of the employee's layoff date, subject to a maximum benefit 26 of twenty-six (26) weeks of pay. Eligible employees may elect either of the following: (a: 27 11.3(a) Benefits will be paid as a lump sum following the effective date of layoff. 29 Employees who elect this option will have recall rights under Article 3 canceled.. 30