Common use of Option B - Upon separation from the service by resignation, layoff Clause in Contracts

Option B - Upon separation from the service by resignation, layoff. expiration of a leave of absence or death, a permanent employee with at least twenty (20) years (41,600 hours) of service, their designated beneficiary, or their estate shall be paid according to the schedule below, to a maximum of $7,000 effective January 1, 2008. An employee who is laid off or whose position has been abolished shall have the option of waiting until their eligibility for reinstatement expires before applying for separation pay: (no exceptions to 20 year requirement) Effective January 1, 2008: $210 per year for the first 1-10 years of service $280 per year for years 11-20 $350 per year for years over 20

Option B - Upon separation from the service by resignation, layoff. expiration of a leave of absence or death, a permanent employee with at least twenty (20) years (41,600 hours) of service, their designated beneficiary, or their estate shall be paid according to the schedule below, to a maximum of $7,000 effective January 1, 2008. An employee who is laid off or whose position has been abolished shall have the option of waiting until their eligibility for reinstatement expires before applying for separation pay: pay (no exceptions to 20 year requirement) ). Effective January 1, 2008: $210 per year for the first 1-10 years of service $280 per year for years 11-20 $350 per year for years over 20