Severance Pay Sample Clauses

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:

Severance Pay. Within the lesser of thirty (30) days from the date of notice of layoff or the notice provided above, an employee with more than twelve (12) months’ service with The Employer, who has received notice of layoff of a permanent or long-term nature, may resign, forfeiting the right to notice. Such employees will receive the balance of notice as severance pay.

Severance Pay. (a) In the event the Executive’s employment with the Company is terminated: by the Company for Cause or Disability (as defined in Sections 8(c) and 8(d) above); by non-renewal by the Executive; by the Executive pursuant to Section 8(b); by the Company pursuant to Section 8(a)(4); Executive’s death; or upon expiration of the Term after the Renewal Term, the compensation and benefits the Executive shall be entitled to receive from the Company shall be limited to: (i) her then-current annual base salary pursuant to Section 4 through the termination date, payable in accordance with the Company’s standard payroll practices; (ii) any reimbursable expenses for which the Executive has not yet been reimbursed as of the termination date; and (iii) any other rights and vested benefits (if any) provided under employee benefit plans and programs of the Company, determined in accordance with the applicable terms and provisions of such plans and programs. (b) If the Executive’s employment with the Company is terminated: during the Term by the Company without Cause pursuant to Section 8(a)(5); or at the conclusion of the Initial Term because of a non-renewal by the Company, in addition to the amounts in Subsection (a) of this Section 9, the Executive shall also be entitled to receive severance pay equal to six (6) months of her annual base salary pursuant to Section 4, at the rate in effect on the date of termination and any Performance Bonus that, as of the date of termination, has been earned by the Executive but has not yet been paid by the Company to the Executive. This severance pay shall be paid to the Executive in equal increments in accordance with the Company’s standard payroll practices over the six (6) month period following the date of the termination of the Executive’s employment with the Company, but beginning no earlier than fifteen (15) days after the Executive’s execution and non-revocation of the Release required by Subsection (c) of this Section 9. (c) Notwithstanding anything in this Agreement to the contrary, Executive’s right to receive any severance benefits under Subsection (b) of this Section 9 shall be conditioned upon the Executive’s continued compliance with her restrictive covenants in Sections 5 and 7 and her execution and delivery to the Company of a general release of all claims against the Company, its officers, directors, employees, subsidiaries and affiliates, in the form attached hereto as Exhibit A, as amended from time to time in a ma...

Severance Pay. Employees discharged, laid off or displaced from their regular job because of mechanization, technological change or automation shall be entitled to severance pay of seven (7) days’ pay for each year of service with the Company. The amount calculated under such entitlement shall not exceed a maximum of thirty (30) weeks’ pay. This Section shall not apply to employees covered by Section 2 (b) above.

Severance Pay. 13.01 Severance Pay: Should it become economically necessary to close the entire location or a particular major section or sections of the said location on a permanent basis and it is not reasonably expected that those affected will be re-employed in this or any other of the Company's operations subject to Article 13.01 (d) a separation allowance will be paid to such employees subject to the following: (a) They are presently employed by the Company and are accumulating seniority or have been laid off not later than ninety (90) days prior to the location's closing date. (b) The closing is not brought about by war, strike, walkout, work stoppage, slowdown or other cessation of work, fire, government action or Act of God. (c) Employees shall have the option to receive severance pay or transfer to another location. Said option shall be exercised within ninety (90) days of the date of closure. The scale for severance allowance shall be based on the following formula: Less than 1 year Nil 1 year to 2 years 2 weeks’ pay 3 years to 6 years 3 weeks’ pay Years of service beyond 6 years service will apply the “formula” The number of years' service minus five (5), times two (2) weeks' pay. Example: 7 years - 5 x 2 = 4 weeks’ pay 10 years - 5 x 2 = 10 weeks' pay 20 years - 5 x 2 = 30 weeks' pay 30 years - 5 x 2 = 50 weeks' pay An employee shall have the option to remain on the payroll and the seniority list for possible recall. In this event, the Company shall hold the severance allowance until the employee is recalled or ninety (90) days, whichever is sooner. If the employee is recalled within the foregoing period, no severance allowance shall be payable. If the employee is NOT recalled within ninety (90) days, the severance allowance shall be paid by the Company forthwith. For the purposes of this section, the location shall be deemed to be closed on a permanent basis, when it or they cease to operate for a period of ninety (90) days. 13.02 Employees who receive severance pay under the provisions of this Article shall, in doing so, terminate both their seniority and employment relationship with the Company and shall have no further rights or privileges under this Agreement or under any other Labour agreement or agreements between the signing parties.

Severance Pay. Employees who are separated because of a layoff or reduction in force shall be entitled to severance pay in accordance with Part 435 of the Employee and Labor Relations Manual.

Severance Pay. (1) In addition to the period of notice prescribed for ordinary termination in clause 7 – Termination of employment, an employee whose employment is terminated by reason of redundancy must be paid, subject to further order of a Court with jurisdiction, the following amount of severance pay in respect of a continuous period of service: Less than 1 year Nil 1 year but less than 2 years 4 weeks’ pay 2 years but less than 3 years 6 weeks’ pay 3 years but less than 4 years 7 weeks’ pay 4 years and over 8 weeks’ pay

Severance Pay. 63.01 Under the following circumstances and subject to clause 63.02, an employee shall receive severance benefits calculated on the basis of the weekly rate of pay to which he or she is entitled for the classification prescribed in his or her certificate of appointment on the date of his or her termination of employment.

Severance Pay. Upon your termination of employment by the Company and all Affiliates without Cause (as defined below), but subject to your performance of all post-employment obligations set forth in this Agreement and also subject to your signing a release of claims in a form acceptable to the Company, you will be entitled to receive severance pay for twelve (12) month “Severance Period” at your final Base Salary (“Severance Pay”), beginning the first pay period following your separation date and ending upon the earlier of: (i) your receipt of 52 such payments or (ii) your first day of employment with another employer, whichever is earlier. If you obtain employment at an annual salary that is lower than your final Base Salary, you will continue to receive the differential between the two rates of pay for the balance of the 52 weeks. This Severance Pay, which will be subject to applicable deductions required by law, will be paid on the Company’s regular payroll dates for the balance of the twelve (12) month “Severance Period” following your termination date, as outlined above. For purposes of this Agreement, “Cause” means: (i) your wrongful misappropriation of the Company’s or an Affiliate’s assets of a material value; (ii) any physical or mental impairment that renders you incapable of performing the essential functions of your position with reasonable accommodations; (iii) your conviction of, or pleading “guilty” or “no contest” to, a felony; (iv) your intentionally causing the Company or an Affiliate to violate a material local state or federal law in any material respect; (v) your willful refusal to comply with a significant, lawful and proper policy, directive or decision of your supervisor or the Board in furtherance of a legitimate business purpose or your willful refusal to perform the duties reasonably assigned to you consistent with your functions, duties and responsibilities, in each case, in any material respect, and only if not remedied within thirty (30) days after receipt of written notice from the Company; or (vi) your breach of this Agreement, in any material respect, not remedied within thirty (30) days after receipt of written notice from the Company.