Common use of Redundancy Payment Clause in Contracts

Redundancy Payment. (1) In the event that the employer and employee agree on transferring from the redundancy payment provisions of the Austrian Act on Salaried Employment/Redundancy Payment Act to the BMVG (Company Employee Severance Funds Act), both the employer and the employee are entitled to withdraw from the transfer agreement within one month from the signing of the agreement without providing any reasons. This does not apply if the transfer agreement is governed by a company agreement according to Art. 97 (1) 26 of the Austrian Labour Constitution Act (ArbVG) (determination of framework conditions for the transfer to the redundancy payment provisions of the BMVG).

Redundancy Payment. (1) In the event that the case employer and employee agree on transferring from the redundancy payment provisions Redundancy Payment Act of the Austrian Act on Salaried Employment/Redundancy Payment Act Employment to the BMVG (Company Employee Severance Funds Act), both the employer and the employee are entitled to withdraw from the transfer agreement within one month from the signing of the agreement without providing any reasons. This does not apply if the transfer agreement is governed with regard to content by a company agreement according to Art. 97 (1) para. 1 section 26 of the Austrian Labour Constitution Act (ArbVG) (determination Determination of framework conditions for the transfer to the redundancy payment provisions law of the BMVG).