Common use of Redundancy Entitlement Clause in Contracts

Redundancy Entitlement. The Company will contribute $60.00 per week per Employee into the Australian Construction Industry Redundancy Trust (ACIRT). This contribution will increase to $68.00 from 1 January 2007. Once an Employee has accrued 8 weeks pay in their ACIRT account they may elect to have their redundancy contribution paid into Cbus.

Redundancy Entitlement. The Company will contribute $60.00 per week per Employee into the Australian Construction Industry Redundancy Trust (ACIRT). This contribution will increase to $68.00 from 1 January 2007. The provision for Employees working in the depot / yard will be $35.00 per week increasing to $40.00 per week from 1 January 2007. The rate applicable for trainees within these Counties shall be $25.00 per week. The contribution into ACIRT is not applicable on a single dwelling project. Once an Employee has accrued 8 weeks pay in their ACIRT account they may elect to have their redundancy contribution paid into Cbuscbus.

Redundancy Entitlement. The Company will contribute $60.00 per week per Employee into the Australian Construction Industry Redundancy Trust (ACIRT). This contribution will increase to $68.00 from 1 January 2007. The provision for Employees working in the depot / yard and on small projects where the builders package is under $10 million in value will be $35.00 per week increasing to $40.00 per week from 1 January 2007. Once an Employee has accrued 8 weeks pay in their ACIRT account they may elect to have their redundancy contribution paid into CbusCbus on the condition that the Company does not incur a fringe benefits liability.