Common use of Separation Payments Clause in Contracts

Separation Payments. 4.7.1 At any time while an employee is a redeployee, they may give notice that they wish to accept a VSP. 4.7.2 A redeployee will only be required to provide one weeks’ notice to terminate their employment (or less by agreement). 4.7.3 An employee who indicates that they wish to accept a VSP, in accordance with clause 4.7.1, will be entitled to the following amounts of redundancy pay: a. An employee who has been a redeployee for between 0 to 3 months is entitled to receive redundancy pay equal to 100% of the VSP prescribed in clause 2.5 plus a lump sum payment of $15,000; or b. An employee who has been a redeployee for more than 3 months and up to 12 months is entitled to receive redundancy pay equal to 100% of the VSP prescribed in clause 2.5; or c. An employee who has been a redeployee for more than 12 months is entitled to receive redundancy pay equal to 75% the VSP prescribed in clause 2.5.

Separation Payments. 4.7.1 At any time while an employee is a redeployee, they may give notice that they wish to accept a VSP. 4.7.2 A redeployee will only be required to provide one weeks’ notice to terminate their employment (or less by agreement). 4.7.3 An employee who indicates that they wish to accept a VSP, in accordance with clause 4.7.1, will be entitled to the following amounts of redundancy pay: a. (a) An employee who has been a redeployee for between 0 to 3 months is entitled to receive redundancy pay equal to 100% of the VSP prescribed in clause 2.5 plus a lump sum payment of $15,000; or b. (b) An employee who has been a redeployee for more than 3 months and up to 12 months is entitled to receive redundancy pay equal to 100% of the VSP prescribed in clause 2.5; or c. (c) An employee who has been a redeployee for more than 12 months is entitled to receive redundancy pay equal to 75% the VSP prescribed in clause 2.5.

Separation Payments. 4.7.1 At any time while an employee is a redeployee, they may give notice that they wish to accept a VSP. 4.7.2 A redeployee will only be required to provide one weeks’ notice to terminate their employment (or less by agreement).their 4.7.3 An employee who indicates that they wish to accept a VSP, in accordance with clause 4.7.1, will be entitled to the following amounts of redundancy pay: a. An employee who has been a redeployee for between 0 to 3 months is entitled to receive redundancy pay equal to 100% of the VSP prescribed in clause 2.5 plus a lump sum payment of $15,000; or b. An employee who has been a redeployee for more than 3 months and up to 12 months is entitled to receive redundancy pay equal to 100% of the VSP prescribed in clause 2.5; or c. An employee who has been a redeployee for more than 12 months is entitled to receive redundancy pay equal to 75% the VSP prescribed in clause 2.5.