Severance Allowance. A laid-off employee shall be entitled to severance allowance pursuant to Article 55.
Severance Allowance. (a) An employee with one (1) or more years of continuous service for whom no job is available because of mechanization, technological change or automation will, upon termination, receive a severance allowance calculated by one of the two following methods based on his last period of continuous service, it being the choice of the affected employee as to which of such methods of calculation is used: Years of Severance Allowance Employment Weeks/yr.* or % of Earnings 1st ten years 2 4% Subsequent years 1 2% Maximum Severance 45 weeks 1800 hours Allowance * Computed on the basis of forty (40) straight time hours at the employee’s regular rate. For employees with a minimum of one (1) year’s employment during their last period of continuous service, severance allowance shall not be less than four (4) weeks’ pay. At the time of separation the employee shall have the option of receiving the severance allowance on termination, or he/she may elect to have his/her severance allowance held in abeyance for up to one year from the date of termination. They may apply in writing at any time during the year, at which time their full severance allowance will be paid forthwith. Where the right of recall and seniority retention under Article XXI is elected, the employee’s severance allowance will be held in abeyance for the duration of their recall rights at which time the employee will be terminated and their severance allowance paid forthwith. Where the employee renounces the right of recall during this period, the employee will be terminated and his/her severance allowance paid forthwith with all seniority and recall rights being forfeited. No payment will be made under this section in cases where the employee has already qualified under Article XXII, Section 5, Job Elimination, or under Article XXI, Section 2, Permanent Mill Closure.
(b) Such employees for whom no employment is available will be given at least thirty (30) days' notice of separation.
Severance Allowance. In the event of a Control Termination of this Agreement, Executive may elect, within 60 days after such Control Termination, to be paid a lump sum severance allowance, in lieu of the termination payments provided for in Section 11 above, in an amount which is equal to the sum of the amounts determined in accordance with the following clauses (a) and (b):
(a) an amount equal to the aggregate of salary payments for 60 calendar months at the rate of Base Salary which he would have been entitled to receive in accordance with Section 5(a); and
(b) an amount equal to the aggregate of 60 calendar months of bonus at the greater of (i) the monthly rate of the bonus payment for the annual bonus period immediately prior to this termination date, or (ii) the monthly rate of the estimated amount of the bonus for the annual bonus period which includes his termination date. In the event that Executive makes an election pursuant to this Section to receive a lump sum severance allowance of the amount described in clauses (a) and (b), then, in addition to such amount, he shall receive (i) in addition to the benefits provided under any deferred compensation, retirement or pension benefit plan maintained by the Company, the benefits he would have accrued under such benefit plan if he had remained in the employ of the Company and such plan had remained in effect for 60 calendar months after his termination, which benefits will be paid concurrently with, and in addition to, the benefits provided under such benefit plan, and (ii) the employee benefits (including, but not limited to, coverage under any medical insurance and life insurance arrangements or programs) to which he would have been entitled under all employee benefit plans, programs or arrangements maintained by the Company if he had remained in the employ of the Company and such plans, programs or arrangements had remained in effect for 60 calendar months after his termination; or the value of the amounts described in clauses (i) and (ii) next preceding. The amount of the payments described in the preceding sentence shall be determined and such payments shall be distributed as soon as it is reasonably possible.
Severance Allowance. Portability of severance allowance is covered by the provisions of Article 54 –
Severance Allowance. Such employees shall be entitled to a severance allowance of two (2) weeks per year of service to a maximum of sixty (60) weeks based on the employee’s years of employment during the employee’s last period of continuous service computed on the basis of forty (40) straight time hours per week at the employee’s regular rate. For employees with a minimum of one (1) years' employment during their last period of continuous service, severance allowance shall not be less than four (4) weeks pay. Employees will have their welfare coverage continued for the current month plus two (2) additional months from their date of termination. No payment will be made under this section in cases where the employee has already qualified under Article XXII, Section 6, Job Security, or under Article XXIV, Section 5, Job Elimination.
Severance Allowance. Portability of severance allowance is covered by the provisions of Article 55 – Severance Allowance: A regular employee who voluntarily resigns and is later rehired by an Employer covered by this Collective Agreement within one (1) year, shall have portability of length of service for the purposes of the severance allowance provision.
Severance Allowance. Such employees shall be entitled to a severance allowance based on their years of employment during their last period of continuous service computed on the basis of forty (40) straight time hours at the employee’s regular rate on the following basis:
Severance Allowance. Employees with ten (10) years of service (other than those mentioned in Item (c) below) will be entitled to one (1) week's pay for every two (2) years of service to a maximum of twenty (20) weeks' pay. Employees eligible for the above severance allowance must be in one of the following categories:
(a) Employees of their own volition leaving the Employer's work force after their fifty- fifth (55) birthday.
(b) Employees whose services are no longer required by the Employer (health organization closure, job redundancy, etc.) except employees dismissed for just and proper cause.
(c) Employees who are required to retire from the Employer's work force because of a medical disability shall be entitled to a severance allowance regardless of length of service. In this clause medical disability means the total and permanent incapacity of the employee arising out of mental or physical disability to fill or occupy any position in the service of the Employer and made available to the employee, the duties of which the employee might reasonably be expected to carry out.
(d) Employees with ten (10) years of service who die in service. Years of service for severance allowance purposes for part-time employees will be calculated on the following basis: Total Hours Paid* (excluding overtime) 1879.2
Severance Allowance. Where a redundant or displaced employee chooses not to exercise his/her rights under the clauses above, or has not found or been placed into a position by exercising their rights, the employee shall then be entitled to the severance allowance as outlined below and any other applicable entitlements outlined in this Collective Agreement.
a) One (1) Year but less than Three (3)
Severance Allowance. Casual employees shall accumulate seniority on the basis of the number of hours worked and upon written notification by the Union the number of hours paid for leave for Union business. Casual employees, while receiving Workers’ Compensation Benefits (wage loss replacement and rehabilitation benefits) or while on an approved maternity/parental absence will, upon return to work, be credited with seniority. This credit will be based on the number of hours worked as a casual employee during the twelve (12) month period preceding the date of leave or WCB illness or accident, calculated as follows:
