Common use of Enhanced Severance Clause in Contracts

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. 5.1 4.1 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 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.