Common use of Separation Allowance Clause in Contracts

Separation Allowance. The separation allowance shall consist of three (3) weeks of basic pay (twenty-one [21] days at the calendar rate) for each year of cumulative compensated service* to a maximum of seventy-five per cent (75%) the Officer could earn at this basic rate prior to age sixty-five (65). A pro-rated payment will be made for a part year. This enhanced allowance for separation due to redundant jobs replaces the severance provisions of Article 1.30 in the current Collective Agreement. *Cumulative Compensated Service shall be defined as: a) One (1) month of cumulative service is equal to 30.42 days with the Company. Twelve (12) of these months shall constitute one (1) year of cumulative compensated service (time on Long Term Disability is excluded).

Separation Allowance. The separation allowance shall consist of three (3) weeks of basic pay (twenty-one [21] days at the calendar rate) for each year of cumulative compensated service* to a maximum of seventy-five per cent (75%) the Officer could earn at this basic rate prior to age sixty-five (65). A pro-pro rated payment will be made for a part year. This enhanced allowance for separation due to redundant jobs replaces the severance provisions of Article 1.30 in the current Collective Agreement. *Cumulative Compensated Service shall be defined as: a) One (1) month of cumulative service is equal to 30.42 days with the Company. Twelve (12) of these months shall constitute one (1) year of cumulative compensated service (time on Long Term Disability is excluded).

Separation Allowance. The separation allowance shall consist of three (3) weeks of basic pay (twenty-one [21] days at the calendar rate) for each year of cumulative compensated service* to a maximum of seventy-five per cent (75%) the Officer could earn at this basic rate prior to age sixty-five (65). A pro-pro rated payment will be made for a part year. This enhanced allowance for separation due to redundant jobs replaces the severance provisions of Article 1.30 in the current Collective Agreement. *Cumulative Compensated Service shall be defined as: a) One (1) month of cumulative service is equal to 30.42 days with the Company. Twelve (12) of these months shall constitute one (1) year of cumulative compensated service (time on Long Term Disability is excluded).Twelve

Separation Allowance. The separation allowance shall consist of three (3) weeks of basic pay (twenty-one [21] days at the calendar rate) for each year of cumulative compensated service* service to a maximum of seventy-five per cent (75%) the Officer could earn at this basic rate prior to age sixty-five (65). A pro-rated payment will be made for a part year. This enhanced allowance for separation due to redundant jobs replaces the severance provisions of Article 1.30 in the current Collective Agreement. *Cumulative Compensated Service shall be defined as: a) One (1) month of cumulative service is equal to 30.42 days with the Company. Twelve (12) of these months shall constitute one (1) year of cumulative compensated service (time on Long Term Disability is excluded).