Enhanced Severance. (a) Enhanced severance will be paid at the rate of two (2) weeks' pay, at the Employee's regular rate of pay, for each completed year of service to fifteen (15) years, and at the rate of three (3) weeks' pay for each additional completed year of service over fifteen (15) to a total maximum of sixty (60) weeks.
(b) A partial year of service will be prorated at the appropriate rate by completed months.
(c) The employment relationship of an Employee who elects to accept enhanced severance will be terminated immediately.
Enhanced Severance. In addition to the severance entitlement in Article 26.9, an employee who is laid off shall receive one (1) additional week of salary for each year of service, with no maximum.
Enhanced Severance. 5.1 Employees who are laid off or who have resigned and received their pay in lieu of notice pursuant to Article 14.3 (Notice and Pay in Lieu) will receive, in addition to their Article 45 (Termination Payments), a further severance package of one (1) week's salary for every completed year of continuous service. This paragraph will not apply to employees who are eligible to retire and receive an actuarially unreduced pension or, as a result of the application of Sub-section 3.1(a) of this Appendix will become eligible to receive an actuarially unreduced pension. This paragraph will not apply to employees described in Section 2.5 of this Appendix who are transferred to a new employer. Appendix A forms part of the Collective Agreement, and is in effect for so long as the terms and conditions of the Collective Agreement are in effect.
Enhanced Severance. In lieu of the above severance or any other severance as may be offered by the Company, Employee shall be eligible for an "Enhanced Severance Plan" for a period commencing on the date hereof and continuing for a period of two (2) years following the election by the Board of Directors of a successor for Rolf A. Classon as Chief Executive Officer of Hillenbrand Industxxxx Xxx. (xxxxinafter, the "Election Date"). Xxxxxxxxxxxy, in the event Employee's employment is terminated by the Company "without cause" or by Employee for "Good Reason" (as those terms are defined above), within two (2) years following the Election Date, Employee shall be eligible to receive severance pay based upon his base salary at the time of termination in accordance with any guidelines as may be subsequently established by the Company or for the period described below (whichever is longer). NUMBER OF MONTHS FOLLOWING ELIGIBLE NUMBER OF WEEKS THE ELECTION DATE OF SEVERANCE -------------------------- ------------------------ 1-12 months 104 weeks 13 months 92 weeks 14 months 88 weeks 15 months 84 weeks 16 months 80 weeks 17 months 76 weeks 18 months 72 weeks 19 months 68 weeks 20 months 64 weeks 21 months 60 weeks 22 months 56 weeks 23 months 52 weeks 24 months 52 weeks 25 months and thereafter 52 weeks
Enhanced Severance. In addition to the severance entitlements set out in Article 27.15 of the Agreement, an additional one week of salary for every completed year of continuous service, with no maximum, shall be paid as enhanced severance to all employees declared surplus.
Enhanced Severance. Enhanced Xxxxxxxxx calculated on the basis of one (1) week's salary for every year worked to a maximum of five (5) weeks or $3,000 will be provided to employees who elect to resign and access Career Assistance. Enhanced Severance shall be the lesser of five (5) weeks’ salary or $3,000.
Enhanced Severance. In addition to the severance entitlements set out in Article 27.15 of the Agreement, an additional one week of salary for every completed year of continuous service, with no maximum, shall be paid as enhanced severance to all employees declared surplus on or before March 31, 2004. If an employee who is paid enhanced severance pursuant to this section subsequently, as a recall employee, accepts a direct assignment in accordance with Article 27.11, the employee shall be required to repay an amount equal to: the total number of weeks of enhanced severance paid less the number of weeks spent on recall prior to return to work (e.g. an employee who receives twenty (20) weeks enhanced severance and is recalled fifteen (15) weeks after their date of layoff shall repay the equivalent of five (5) weeks of enhanced severance).
Enhanced Severance. At any airport not specified in paragraph 1 above, the contracting out of work to outside vendor(s) must be a reasonable economically- motivated business decision, and any employee employed as of the Effective Date of this Agreement who is subject to reduction-in-force, or furlough from employment, caused by such contracting out at the airport where the employeehe/she is employed will be entitled to select:
a. Normal displacement options, including furlough pay if the employee is unable or elects not to retain active employment, or
b. Enhanced severance (with waiver of continued employment and recall rights), to include pay continuation based on the following table with continuation of health care/insurance benefits (not to include Long-Term Disability insurance) at active rates during the period of pay continuation. Enhanced severance for part-time employees will be based on the average scheduled hours during the two pay periods prior to the layoff. Compensated Service Enhanced Severance Pay (Weeks of Pay) Less than1year of service None 1year but less than 2 years of service 2 2 years but less than 3 years of service 4 3 years but less than 4 years of service 6 4 years but less than 5 years of service 8 5 years but less than 6 years of service 10 6 years but less than 7 years of service 12 7 years but less than 8 years of service 14 8 years but less than 9 years of service 16 9 years but less than 10 years of service 18 10 years but less than 11 years of service 20 11 years but less than 12 years of service 22 12 years but less than 13 years of service 24 13 or more years of service 26
Enhanced Severance. 23.01 Employees who will be laid off as a direct result of the consolidation of operations and/or the planned introduction of the new Macintosh based front end system, the PBS circulation and advertising system, the C-Text classified system and the Oracle financial system, all announced on August 15, 1994, will be entitled to Enhanced Severance as outlined in Article 23.02 of this Appendix in lieu of severance payments to which they would otherwise be entitled under the collective agreement. Any other employee may apply, prior to the date of the layoff, to be laid off and receive Enhanced Severance as outlined in this Article, in place of the employee to be laid off. If the remaining employees are competent to perform the work, the senior applicant will be laid off instead of the employee declared surplus.
23.02 Employees who are entitled to Enhanced Severance under Article 22.02 (b) and (c) or Article 23.01 of this Appendix, will receive the following:
(1) Employees whose AGE plus SERVICE equals 75 or greater on, or within six months following, the date of layoff; or who have more than 26 years of service on, or within six months following, the date of layoff; will receive $82,424.08 (on day rate) or $89,018.01 (on night rate).
(2) The Employer will continue to make its regular contributions to the benefit (except for weekly indemnity and LTD) and pension plans for 93 weeks, or the employee may elect to receive a lump sum of $5,000 in lieu of those contributions.
(b) For employees whose AGE plus SERVICE is less than 75 on, or within six months following, the date of layoff; or who have 26 or less years of service on, or within six months following, the date of layoff; the Employer will continue to make its regular contributions to the benefit (except for weekly indemnity and LTD) and pension plans for 52 weeks or the employee may elect to receive $3,000 in lieu of these contributions plus they will be entitled to Enhanced Severance as outlined below: Years of Service On Day Rate On Night Rate 26 $80,363.48 $86,792.56 25 $77,272.58 $83,454.38 24 $74,181.67 $80,116.21 23 $71,090.77 $76,778.03 22 $67,999.87 $73,439.86 21 $64,908.96 $70,101.68 20 $61,818.06 $66,763.50 19 $58,727.16 $63,425.33 18 $55,636.25 $60,087.15 17 $52,545.35 $56,748.98 16 $49,454.45 $53,410.00 15 $46,363.55 $50,072.63 14 $43,272.64 $46,734.45 13 $40,181.74 $43,396.28 12 $37,090.84 $40,058.10 11 $33,999.93 $36,719.93 10 $30,909.03 $33,381.75 9 $28,333.28 $30,599.94 8 $25,757.53 $27,818.1...
Enhanced Severance. Enhanced severance to a maximum of one (1) week’s pay for each year of service to $4,500.00, or eight (8) weeks, whichever is the lessor.
