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.
Appears in 8 contracts
Samples: Collective Agreement, Collective Agreement, Collective Agreement
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 pro-rated at the appropriate rate by completed months.
(c) The employment relationship of an Employee who elects to accept enhanced severance will be terminated immediately.
Appears in 7 contracts
Samples: Collective Agreement, Collective Agreement, Collective Agreement
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) 60)weeks. 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.
Appears in 1 contract
Samples: Collective Agreement
