Common use of SEVERANCE AND LAYOFF PAY Clause in Contracts

SEVERANCE AND LAYOFF PAY. (a) If an employee is laid off for a period that exceeds his right to recall as provided for in the seniority provisions of this Agreement and that employee has a minimum of two (2) years' service with the Company, he shall be paid three (3) weeks' pay based on one hundred and twenty (120) hours at his then applicable rate of pay. Such an employee may elect to accept layoff pay under the provisions of this section before the end of his right to recall period, but in so doing shall forfeit all his seniority rights accruing to him under this Agreement, by reason of his term of service with the Company. (b) In the event of amalgamation, permanent closure of the plant, or a department thereof, or automation, causing an employee to lose his employment with the Company, the Company hereby agrees to pay severance pay to such an employee provided the employee has a minimum of two (2) years' service with the Company. Severance pay shall be based on an employee's regular rate of pay at the date of his severance and shall be paid in accordance with the following schedule: One (1) week's pay for each year of service with the Company to a maximum of seventeen (17) weeks. In the event that part of the plant remains open or that an employee has lost his employment because of amalgamation or automation, an employee eligible to receive severance pay may elect to remain on the seniority list for possible recall. The Company shall hold the severance pay for such an employee for the period of his right to recall but during such period the employee may, subject to the same forfeiture provisions of subsection (a) of this section, request and receive payment of such pay.

SEVERANCE AND LAYOFF PAY. (a) If an employee is laid off for a period that exceeds his right to recall as provided for in the seniority provisions of this Agreement and that employee has a minimum of two (2) years' service with the Company, he shall be paid three (3) weeks' pay based on one hundred and twenty (120) hours at his then applicable rate of pay. Such an employee may elect to accept layoff pay under the provisions of this section before the end of his right to recall period, but in so doing shall forfeit all his seniority rights accruing to him under this Agreement, by reason of his term of service with the Company. (b) In the event of amalgamation, permanent closure of the plant, or a department thereof, or automation, causing an employee to lose his employment with the Company, the Company hereby agrees to pay severance pay to such an employee provided the employee has a minimum of two (2) years' service with the Company. Severance pay shall be based on an employee's regular rate of pay at the date of his severance and shall be paid in accordance with the following schedule: One (1) week's pay for each year of service with the Company to a maximum of seventeen (17) weeks. In the event that part of the plant remains open or that an employee has lost his employment because of amalgamation or automation, an employee eligible to receive severance pay may elect to remain on the seniority list for possible recall. The Company shall hold the severance pay for such an employee for the period of his right to recall but during such period the employee may, subject to the same forfeiture provisions of subsection (a) of this section, request and receive payment of such pay.

SEVERANCE AND LAYOFF PAY. (a) If an employee is laid off for a period that exceeds his right to recall as provided for in the seniority provisions of this Agreement and that employee has a minimum of two (2) years' service with the Company, he shall be paid three two (32) weeks' pay based on one hundred and twenty eighty (12080) hours at his then applicable current rate of pay. Such an employee may elect to accept layoff pay under the provisions of this section before the end of his right to recall period, but in so doing shall forfeit all his seniority rights accruing to him under this Agreement, by reason of his term of service with the Company. (b) In the event of amalgamation, permanent closure of the plant, or a department thereof, or automation, causing an employee to lose his employment with the Company, the Company hereby agrees to pay severance pay to such an employee provided the employee has a minimum of two (2) years' service with the Company. Severance pay shall be based on an employee's regular rate of pay at the date of his severance and shall be paid in accordance with the following schedule: One (1) week's pay for each year of service with the Company to a maximum of seventeen (17) weeksCompany. In the event that part of the plant remains open or that an employee has lost his employment because of amalgamation or automation, an employee eligible to receive severance pay may elect to remain on the seniority list for possible recall. The Company shall hold the severance pay for such an am employee for the period of his right to recall but during such period the employee may, subject to the same forfeiture provisions of subsection sub-section (a) of this section, request and receive payment of such pay.

SEVERANCE AND LAYOFF PAY. (a) If an employee is laid laid-off for a period that exceeds his right to recall as provided for in the seniority provisions of this Agreement and that employee has a minimum of two one (21) years' service with the Company, he shall be paid three one (31) weeks' pay based on one hundred and twenty for each year of service with the Company to a maximum of fifteen (12015) hours weeks at his then applicable rate of pay. Such an employee may elect to accept layoff pay under the provisions of this section before the end of his right to recall period, but in so doing shall forfeit all his seniority rights accruing to him under this Agreement, by reason of his term this terms of service with the Company. (b) In the event of amalgamation, permanent closure of the plant, or a department thereof, or automation, causing an any employee to lose his employment with the Company, the Company hereby agrees to pay the employee severance pay to such an employee provided the employee has a minimum of two one (21) years' service with the Company. Severance pay shall be based on an employee's regular rate of pay at the date of his severance and shall be paid in accordance with the following schedule: One (1) week's pay for each year of service with the Company to a maximum of seventeen fifteen (1715) weeks. In the event that part of the plant remains open or that an employee has lost his employment because of amalgamation or automation, an employee eligible to receive severance pay may elect to remain on the seniority list for possible recall. The Company shall hold the severance pay for such an employee for the period of his right to recall but during such period the employee may, may be subject to the same forfeiture provisions of subsection sub-section (a) of this section, request and receive payment of such pay. (c) An employee shall be entitled to the provisions of either (a) or (b) but not both.

SEVERANCE AND LAYOFF PAY. (a) If an employee is laid off for a period that exceeds his right to recall as provided for in the seniority provisions of this Agreement and that employee has a minimum of two one (21) years' year's service with the Company, he shall be paid three two (32) weeks' week's pay based on one hundred and twenty eighty (12080) hours at his then applicable rate of pay. Such an employee may elect to accept layoff pay under the provisions of this section before the end of his right to recall period, but in so doing shall forfeit all his seniority rights accruing to him under this Agreement, by reason of his term of service with the Company. (b) In the event of amalgamation, permanent closure of the plant, or a department thereof, or automation, causing an employee to lose his employment with the Company, the Company hereby agrees to pay severance pay to such an employee provided the employee has a minimum of two one (21) years' year's service with the Company. Severance pay shall be based on an employee's regular rate of pay at the date of his severance and shall be paid in accordance with the following schedule: One (1) week's pay for each year of service with the Company to a maximum of seventeen (17) weeksCompany. In the event that part of the plant remains open or that an employee has lost his employment because of amalgamation or automation, an employee eligible to receive severance pay may elect to remain on the seniority list for possible recall. The Company shall hold the severance pay for such an employee for the a period of his right to recall but during such period the employee may, subject to the same forfeiture provisions of subsection sub-section (a) of this section, request and receive payment of such pay.