NOTICE OF LAYOFF/SEVERANCE PAY Sample Clauses

NOTICE OF LAYOFF/SEVERANCE PAY. 35.01 The Co-operative will give all affected employees, with six (6) months' service or more, four (4) weeks' notice or four (4) weeks' pay in lieu of notice, of the permanent closing of the Co-operative or a portion of the Co-operative. 35.02 Any employee who is terminated due to the permanent closing of the Co-operative, or a department within the Co-operative, or any employee who is terminated because their job has become redundant, or any employee who is terminated due to technological change, shall receive severance pay in the amount of one (1) week's pay for each year of completed service, up to a maximum of twenty-six
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NOTICE OF LAYOFF/SEVERANCE PAY. 17.01 In the event of layoff, employees shall be laid off in reverse order of their bargaining unit-wide seniority. 17.02 The Employer shall notify employees who are to be laid off one (1) month prior to the effective date of layoff, unless a greater period of notice is required by legislation. Unless legislation in the Province of Manitoba requires additional severance pay be paid to an employee if the layoff does occur, such laid off employee shall be entitled to one (1) week’s pay per year of service as layoff/severance compensation
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NOTICE OF LAYOFF/SEVERANCE PAY. 36.01 The Co-operative will give all affected employees, with six (6) months' service or more, four (4) weeks' notice or four (4) weeks' pay in lieu of notice, of the permanent closing of the Co-operative or a portion of the Co-operative. 36.02 Any employee who is terminated due to the permanent closing of the Co-operative, or a department within the Co-operative, or any employee who is terminated because their job has become redundant, or any employee who is terminated due to technological change, shall receive severance pay in the amount of one (1) week's pay for each year of completed service, up to a maximum of twenty-six (26) weeks. Part-time employees' severance pay shall be calculated by using two (2%) per cent of their total gross earnings in the immediate previous twelve (12) calendar month period for each completed year of service, up to a maximum of thirteen (13) weeks (twenty-six (26%) per cent) providing the part-time employee has completed at least one (1) year of service.
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NOTICE OF LAYOFF/SEVERANCE PAY. 16.01 The Company will give employees two (2) week's notice in the event of a layoff and will give employees six (6) weeks' notice or six (6) weeks' pay in lieu of notice (or such longer period as may be required by Legislation) for plant closure. Copies of all layoff notices shall be forwarded to the Union office at the same time that they are being issued to the employees. 16.02 Any employee who is terminated due to the permanent closing of the Company's operation or any portion of their operation, or any employee who is terminated because his or her job has become redundant, or any employee who is terminated because of the Company's decision to downsize their operation, shall receive severance pay in the amount of forty (40) hours' pay at the employee's regular hourly rate of pay for each twelve (12) months of employment with the Company. 16.03 In the event of a permanent plant closure, the Company agrees to meet with the Union to negotiate the Company contribution to a Worker Adjustment Program.
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NOTICE OF LAYOFF/SEVERANCE PAY. 35.01 The Employer will give all affected employees in the bargaining unit, who have six (6) months' service or more, four (4) weeks' notice or four (4) weeks' pay in lieu of notice or the levels outlined in the Employment Standards Code ESC CCSMcE110, 2007, whichever provides the greater notice, in the event they are to be permanently laid off. 35.02 An employee whose employment is terminated as a result of the closing of the business, or any employee who is terminated because their job becomes redundant, or any employee who is terminated due to technological change, shall receive notice or pay in lieu of notice equal to one (1) week for each year of completed service to (a) a maximum of twelve (12) weeks or (b) the levels outlined in the Employment Standards Code ESC CCSMcE110, 2007, whichever provides the greater notice. 35.03 For the purpose of calculating one (1) week's pay for part-time employees, it is understood that one (1) week's pay shall equal two (2%) percent of a part-time person's total gross earnings for the twelve (12) month period immediately prior to the termination commenced.
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NOTICE OF LAYOFF/SEVERANCE PAY. 35.01 The Co-operative will give all affected employees, with six (6) months' service or more, four (4) weeks' notice or four (4) weeks' pay in lieu of notice, of the permanent closing of the Co-operative or a portion of the Co-operative. 35.02 Any employee who is terminated due to the permanent closing of the Co-operative, or a department within the Co-operative, or any employee who is terminated because their job has become redundant, or any employee who is terminated due to technological change, shall receive severance pay in the amount of one (1) week's pay for each year of completed service, up to a maximum of twenty-six (26) weeks. Part-time employees' severance pay shall be calculated by using two (2%) per cent of their total gross earnings in the immediate previous twelve (12) calendar month period for each completed year of service, up to a maximum of thirteen (13) weeks (twenty-six (26%) per cent) providing the part-time employee has completed at least one (1) year of service. 35.03 Periods of time during which an employee was on approved leave of absence, sick leave, Employment Insurance, LTD or WCB benefits, will not be counted as time worked for the purpose of calculating the severance pay.
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NOTICE OF LAYOFF/SEVERANCE PAY. 25.01 In the event of layoff for six (6) months or more, the following will apply: (a) An employee who is laid off due to lack of work will receive notice of layoff or pay in lieu in the amount of two (2) weeks regular pay for each full year of service up to a maximum of fifty-two (52) weeks. Employees with less than one (1) year of service will receive two (2) weeks regular pay. (b) An employee who is terminated due to discontinuance of operations will receive notice of termination or pay in lieu in the amount of two (2) weeks regular pay for each full year of service, up to fifty-two (52) weeks. Employees with less than one (1) year of service will receive two (2) weeks regular pay.
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NOTICE OF LAYOFF/SEVERANCE PAY. 15.01 In the event of the permanent closing of the Centre, the Employer will provide employees notice or pay in lieu of notice, as follows: employees with one (1) year or more of service: 2 months employees with three (3) years or more of service: 3 months employees with five (5) years or more of service: 4 months 15.02 In the event of layoff, employees shall be laid off in reverse order of their seniority as per article 21.04. 15.03 Employees shall also have bumping rights in accordance with their seniority as identified in Section 21.04 (c). The right to bump shall include the right to bump up provided they possess the required qualifications.
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NOTICE OF LAYOFF/SEVERANCE PAY 
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Related to NOTICE OF LAYOFF/SEVERANCE PAY

  • Reduction of Severance Benefits If any payment or benefit that the Executive would receive from any Company Group member or any other party whether in connection with the provisions in this Agreement or otherwise (the “Payment”) would (i) constitute a “parachute payment” within the meaning of Section 280G of the Code and (ii) but for this sentence, be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then the Payment will be equal to the Best Results Amount. The “Best Results Amount” will be either (x) the full amount of the Payment or (y) a lesser amount that would result in no portion of the Payment being subject to the Excise Tax, whichever of those amounts, taking into account the applicable federal, state and local employment taxes, income taxes and the Excise Tax, results in the Executive’s receipt, on an after-tax basis, of the greater amount. If a reduction in payments or benefits constituting parachute payments is necessary so that the Payment equals the Best Results Amount, reduction will occur in the following order: (A) reduction of cash payments in reverse chronological order (that is, the cash payment owed on the latest date following the occurrence of the event triggering the Excise Tax will be the first cash payment to be reduced); (B) cancellation of equity awards that were granted “contingent on a change in ownership or control” within the meaning of Section 280G of the Code in the reverse order of date of grant of the awards (that is, the most recently granted equity awards will be cancelled first); (C) reduction of the accelerated vesting of equity awards in the reverse order of date of grant of the awards (that is, the vesting of the most recently granted equity awards will be cancelled first); and (D) reduction of employee benefits in reverse chronological order (that is, the benefit owed on the latest date following the occurrence of the event triggering the Excise Tax will be the first benefit to be reduced). In no event will the Executive have any discretion with respect to the ordering of Payment reductions. The Executive will be solely responsible for the payment of all personal tax liability that is incurred as a result of the payments and benefits received under this Agreement, and the Executive will not be reimbursed, indemnified, or held harmless by any member of the Company Group for any of those payments of personal tax liability.

  • Termination Severance (a) If (i) Employee’s employment is terminated by the Company without Cause or (ii) if a Change in Control of the Company occurs and Employee’s employment with the Company or its successor Terminates In Connection With a Change in Control and in the absence of any event or circumstance constituting Cause, then, in either case: (A) Employee will be entitled to receive from the Company an amount in severance equal to one year of Employee’s then-current base salary (the “Severance Amount”). The Severance Amount will be paid in a lump sum promptly after Employee has executed and delivered to the Company a mutual release, in form and substance satisfactory to the Company, of all claims arising in connection with Employee’s employment with the Company and termination thereof; (B) Employee will be entitled to receive, for a period of 12 full calendar months from the date of his termination (the “Termination Date”), medical and dental benefits coverage for Employee and/or his dependents through the Company’s available plans at the time and the Company will be responsible to continue payment of all applicable deductions for premium costs. After the Company’s obligation to pay the premiums for health and dental coverage Employee and/or his dependents will be eligible to continue plan participation under COBRA; and (C) Notwithstanding anything to the contrary in the option plan pursuant to which Employee’s options were granted, all options granted to Employee prior to the Termination Date (the “Options”) shall automatically vest and become fully exercisable as of the Termination Date notwithstanding any vesting or performance conditions applicable thereto, and such Options shall remain exercisable for (i) one year following the Termination Date or (ii) if the plan or grant agreement pursuant to which certain Options were granted provides that such Options will be exercisable for a period longer than one year in circumstances where Employee is terminated without Cause or Employee’s employment Terminates In Connection With a Change in Control, then such longer exercise period shall apply with respect to such Options; provided that, in either case, (A) in no event will Options be exercisable beyond the duration of the original term thereof and (B) if the Options qualify as an incentive stock option under the Internal Revenue Code and applicable regulations thereunder, the exercise period thereof shall not be extended in such a manner as to cause the Options to cease to qualify as an incentive stock option unless Executive elects to forego incentive stock option treatment and extend the exercise period thereof as provided herein.

  • Timing of Severance Payments Any severance payment to which Employee is entitled under Sections 3(a)(i)(1), 3(a)(i)(2) and 3(a)(i)(5) shall be paid by the Company to the Employee (or to the Employee's successors in interest pursuant to Section 7(b)) in cash and in full, not later than thirty (30) calendar days following the Termination Date, subject to any delay required under Section 9.

  • Lump Sum Severance Payment Payment of a lump sum amount equal to twelve (12) months of Executive’s then-current Base Salary plus the Pro Rated Bonus, less all customary and required taxes and employment-related deductions, paid on the first payroll date following the date on which the Release required by Paragraph 4(g) becomes effective and non-revocable, but not after seventy (70) days following the effective date of termination from employment.

  • Severance Pay Notwithstanding the provisions of Article 62 (Severance Pay) of this Agreement, where the period of continuous employment in respect of which severance benefit is to be paid consists of both full and part-time employment or varying levels of part-time employment, the benefit shall be calculated as follows: the period of continuous employment eligible for severance pay shall be established and the part-time portions shall be consolidated to equivalent full-time. The equivalent full-time period in years shall be multiplied by the full-time weekly pay rate for the appropriate group and level to produce the severance pay benefit.

  • Salary Severance A single, lump sum payment equal to twelve (12) months of the Executive’s Salary, less applicable withholdings.

  • Form and Timing of Severance Benefits The Severance Benefits described in Sections 3.3(a), 3.3(b), and 3.3

  • Payment of Severance Subject to Section 7.13, any severance payments pursuant to Section 5.4(a) hereof shall be paid commencing on the sixtieth (60th) day following the Termination Date (with a lump sum catch-up payment for any installments otherwise payable within sixty (60) days following the Termination Date) and in accordance with the Company’s standard payroll schedule and practices.

  • Severance Payment If, during the Employment Term at any time during the period of twelve (12) consecutive months following the occurrence of a Change in Corporate Control, the Executive is involuntarily terminated (other than for Cause) or the Executive terminates his employment for Good Reason, then subject to compliance with the restrictive covenants in Section 9 and Section 10 and the execution and timely return by the Executive of the Release, the Executive shall be entitled to receive a lump sum severance payment equal to the present value of a series of monthly payments for twenty-four (24) months, each in an amount equal to one-twelfth (1/12th) of the sum of (i) the Executive’s Base Salary, as in effect at the time of the Change in Corporate Control, and (ii) the average of the annual bonuses paid to the Executive for the prior two fiscal years of the Company ending prior to the Change in Corporate Control, if any. Such present value shall be calculated using a discount rate equal to the interest rate on 90-day Treasury bills, as reported in the Wall Street Journal (or similar publication) on the date of the Change in Corporate Control. Such lump sum payment shall be made to the Executive within sixty (60) days following the date of such involuntary termination. In addition, if during the Employment Term within twelve (12) months after a Change in Corporate Control the Executive is involuntarily terminated (other than for Cause) or the Executive terminates his employment for Good Reason, he shall be entitled to continued coverage at the Company’s expense under any health insurance programs maintained by the Company in which the Executive participated at the time of his termination, which coverage shall be continued for eighteen (18) months or until, if earlier, the date the Executive obtains comparable coverage under a group health plan maintained by a new employer. To the extent the benefits provided under the immediately preceding sentence are otherwise taxable to the Executive, such benefits, for purposes of Section 409A of the Code (and the regulations and other guidance issued thereunder) shall be provided as separate monthly in-kind payments of those benefits, and to the extent those benefits are subject to and not otherwise excepted from Section 409A of the Code, the provision of the in-kind benefits during one calendar year shall not affect the in-kind benefits to be provided in any other calendar year.

  • Cash Severance The Company shall make a single lump sum severance payment to Executive in an amount equal to Executive’s Base Annual Salary in effect as of the Termination Date plus an amount equal to Executive’s Annual Bonus target in effect as of the Termination Date, less required tax withholdings and deductions (the “Change in Control Payment”). The Change in Control Payment will be paid within sixty (60) days after the Termination Date, but in no event later than March 15 of the year following the year of termination.

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