Calculation of Severance Allowance Monies. Severance allowance monies for regular full-time and regular part-time employees shall be calculated on the ba- sis of one (1) week’s pay for every two (2) years of service to a maximum of twenty (20) weeks’ pay. Proportionate payments shall be paid for service less than two (2) years as calculated in the following example: If an employee has fifteen (15) years’ service and into sixteenth (16th) year, shall be entitled to: Fourteen (14) years’ service Fifteenth (15th) year hours additional or days Length of service for part-time employees shall be calcu- lated as follows:
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Samples: Collective Agreement
