Common use of - Separation Allowances Clause in Contracts

- Separation Allowances. 39.01 A regular full-time employee who has completed one (1) or more years of continuous service and who is permanently terminated from employment for reasons clearly beyond his own control due to a permanent reduction in the work force shall receive a separation allowance to be computed as follows: (a) If his period of continuous service since his last date of hire is in excess of one (1) year but less than six (6) years, the separation allowance shall be twenty (20) hours of pay at the straight time rate for each completed year of service. (b) If his period of continuous service since his last date of hire is in excess of five (5) years, the separation allowance shall be forty (40) hours of pay for each such completed year of service in excess of five (5) years. (c) In the event an employee is laid off in excess of sixty (60) continuous calendar days for reasons other than a transportation labor dispute, such employee shall have the right to terminate his employment and receive the appropriate separation allowance immediately upon such termination. (d) In no event will any employee accrue or be paid a separation allowance in excess of 1000 hours straight time pay. 39.02 The acceptance of any payment provided for under this section constitutes a waiver by the permanently laid off employee or any right of recall. In the event such permanently laid off employee is subsequently rehired by the Employer, he shall be considered a new employee.

- Separation Allowances. 39.01 A regular full-time employee who has completed one one (1) or more years of continuous service and who is permanently permanent- ly terminated from employment for reasons clearly beyond his own control due to a permanent reduction in the work force shall receive a separation allowance to be computed as followsfol- lows: (a) If his period of continuous service since his last date of hire is in excess of one one (1) year but less than six (6) years, the separation allowance shall be twenty (20) hours of pay at the straight time rate for each completed year of service. (b) If his period of continuous service since his last date of hire is in excess of five (5) years, the separation allowance shall be forty (40) hours of pay for each such completed year of service in excess of five (5) years. (c) In the event an employee is laid off in excess of sixty (60) continuous calendar days for reasons other than a transportation transporta- tion labor dispute, such employee shall have the right to terminate termi- nate his employment and receive the appropriate separation allowance immediately upon such termination. (d) In no event will any employee accrue or be paid a separation separa- tion allowance in excess of 1000 hours straight time pay. 39.02 The acceptance of any payment provided for under this section constitutes a waiver by the permanently laid off employee or any right of recall. In the event such permanently laid off employee is subsequently rehired by the Employer, he shall be considered a new employee.