Severance Allowance Entitlement Sample Clauses

Severance Allowance Entitlement. An eligible employee, as defined in Article 54.01, shall be paid a severance allowance of one (1) week’s pay for every two (2) years of service to a maximum of twenty (20) weeks’ pay. An eligible employee who dies in service shall have the severance allowance paid to her estate.
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Severance Allowance Entitlement. For six (6) months following termination by ISSI, Employee, Employee's dependents and beneficiaries shall continue to be entitled to comprehensive major medical plan) and perquisites (excepting any incentive compensation of future grants of stock options or warrants) to the same extent as if Employee is no longer an employee of ISSI, ISSI shall pay or provide for payment of such benefits to Employee, Employee's dependents and beneficiaries.
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Severance Allowance Entitlement. In accordance with the Employment Standards Act.
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Related to Severance Allowance Entitlement

  • Severance Allowance A laid-off employee shall be entitled to severance allowance pursuant to Article 55.

  • Severance Payments 5.1 The Company shall pay the Executive the payments described in this Section 5.1 ("Severance Payments") upon the termination of the Executive's employment following a Change in Control during the term of this Agreement, including the Executive's termination of employment for Good Reason, unless such termination is (a) by the Company for Cause, or (b) by reason of the Executive's Death or Disability. The Executive's employment shall be deemed to have been terminated following a Change in Control by the Company without Cause if the Executive's employment is terminated prior to a Change in Control without Cause at the direction (or action which constitutes a direction) of a Person who has entered into an agreement with the Company the consummation of which will constitute a Change in Control. (i) Within three (3) business days after the Date of Termination, the Company shall make a lump sum or monthly, at the Executive's option, cash severance payment to the Executive in an amount equal to: (x) the Executive's annual base salary in effect immediately prior to the occurrence of the event or circumstance upon which the Notice of Termination is based or in effect immediately prior to the Change in Control; and (y) a pro-rated portion of Executive's Targeted Annual Bonus for the fiscal year in which the Date of Termination occurs. (ii) For a twelve (12) month period after the Date of Termination, the Company shall arrange to provide the Executive with medical and dental insurance benefits substantially similar to those that the Executive is receiving immediately prior to the Notice of Termination. Benefits otherwise receivable by the Executive pursuant to this Section 5.1(ii) shall be reduced to the extent comparable benefits are actually received by or made available to the Executive without cost during the twelve (12) month period following the Executive's termination of employment (and any such benefits actually received by the Executive shall be reported to the Company by the Executive). 5.2 The Company also shall pay to the Executive all legal fees and expenses incurred by the Executive in disputing the non-payment of Severance Payments in connection with a termination which entitles the Executive to Severance Payments. Such payments shall be made within five (5) business days after delivery of the Executive's written request for payment accompanied with such evidence of fees and expenses incurred as the Company reasonably may require.

  • Severance Pay 19.01 Under the following circumstances and subject to clause 19.02, an employee shall receive severance benefits calculated on the basis of his weekly rate of pay:

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