Common use of Contributions to a Severance Fund Clause in Contracts

Contributions to a Severance Fund. a) It is agreed that the Employer will make weekly Severance payments (payable on a monthly basis as determined by PROTECT) to the PROTECT Severance Fund for all Employees, except directors and apprentices, covered by this Agreement. b) The Employer severance contribution provided for in this clause will be set off against the redundancy entitlements that would otherwise apply under the NES provided that where the Employer has not made sufficient contributions into the employee’s Severance fund to satisfy these obligations, the Employer shall make up the difference and pay the said employee at the time of termination. This clause applies regardless of whether the employee is actually paid a benefit from the fund at the time of the redundancy or elects not to claim a severance payment at the time of redundancy. X. Xxxxxxxxx Payments are to be made for periods when employees are on: II. pay;

Contributions to a Severance Fund. a) It is agreed that the Employer will make weekly Severance payments (payable on a monthly basis as determined by PROTECT) to the PROTECT Severance Fund for all Employees, except directors and apprentices, covered by this Agreement. b) The Employer severance contribution provided for in this clause will be set off against the redundancy entitlements that would otherwise apply under the NES provided that where the Employer has not made sufficient contributions into the employee’s Severance fund to satisfy these obligations, the Employer shall make up the difference and pay the said employee at the time of termination. This clause applies regardless of whether the employee is actually paid a benefit from the fund at the time of the redundancy or elects not to claim a severance payment at the time of redundancy. X. Xxxxxxxxx Payments are to be made for periods when employees are on: II. pay;