Common use of SEVERANCE AND LAYOFF PAY Clause in Contracts

SEVERANCE AND LAYOFF PAY. 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 five (5) years' service with the Company he shall be paid two (2) weeks' pay based on eighty (80) hours at his then applicable rate of pay. Such an employee may elect to accept lay-off pay under the provisions of this Section before the end of his right to recall period, but in so doing shall forfeit all seniority rights accruing to him under this Agreement, by reason of his term of service with the Company.

SEVERANCE AND LAYOFF PAY. 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 five (5) years' service with the Company he shall be paid two (2) weeks' pay based on eighty (80) hours at his then applicable rate of pay. Such an employee may elect to accept lay-off pay under the provisions of this Section before the end of his right to recall period, but in so doing shall forfeit all seniority rights accruing to him under this AgreementAgreem ent, by reason of his term of service with the Company.

SEVERANCE AND LAYOFF PAY. 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 five (5) years' service with the Company he shall be paid two (2) weeks' pay based on eighty (80) hours at his then applicable rate of pay. Such an employee may elect to accept lay-off pay under the provisions of this Section before the end of his right to recall period, but in so doing shall forfeit all seniority rights accruing to him under this Agreement, by reason of his term of service provided with the Companyfollowing: A. Employees with less than ten (10) years of service, shall be entitled to three (3) days pay for each year of service. B. Employees with between ten (10) and twenty (20) years of service, shall be entitled to four

SEVERANCE AND LAYOFF PAY. 18.01 (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 five two (52) years' service with the Company Employer, he shall be paid two three (23) weeks' pay based on eighty one hundred and twenty (80120) hours at his then applicable rate of pay. Such an employee may elect to accept lay-off layoff pay under the provisions of this Section 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 CompanyEmployer.