Common use of Layoff Allowance Schedule Clause in Contracts

Layoff Allowance Schedule. Layoff allowance pay for an employee terminated on account of reduction in force or medical termination shall be in accordance with the following schedule: Company Service Credit Allowance Pay Under 12 weeks No Allowance 12 weeks to 1 year Same proportion of 1 week’s pay as completed months of service are of 12 months 1 year to 3 years 1 week (or 40 hours) 3 years to 5 2 weeks (or 80 hours) years 5 years to 7 years 3 weeks (or 120 hours) 7 years to 10 years 4 weeks (or 160 hours) 10 years 5 weeks (or 200 hours) 11 years or more Same as for 10 years plus 1 week (or 40 hours) for each added year of service For employees newly hired on or after September 13, 2019: Same as for 10 years plus 1 week (or 40 hours) for each added year of service up to 26 years. No employee would receive more than 21 weeks pay irrespective of total years of service 11 years or more

Layoff Allowance Schedule. Layoff allowance pay for an employee terminated on account of reduction in force or medical termination shall be in accordance with the following schedule: Company Service Credit Allowance Pay Under 12 weeks No Allowance 12 weeks to 1 year Same proportion of 1 week’s pay as completed months of service are of 12 months 1 year to 3 years 1 week (or 40 hours) 3 years to 5 years 2 weeks (or 80 hours) years 5 years to 7 years 3 weeks (or 120 hours) 7 years to 10 years 4 weeks (or 160 hours) 10 years 5 weeks (or 200 hours) 11 years or more Same as for 10 years plus 1 week (or 40 hours) for each added year of service For employees newly hired on or after September 13, 2019: Same as for 10 years plus 1 week (or 40 hours) for each added year of service up to 26 years. No employee would receive more than 21 weeks pay irrespective of total years of service 11 years or moreservice