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. Notwithstanding the provisions of Article 62 (Severance Pay) of this Agreement, where the period of continuous employment in respect of which severance benefit is to be paid consists of both full and part-time employment or varying levels of part-time employment, the benefit shall be calculated as follows: the period of continuous employment eligible for severance pay shall be established and the part-time portions shall be consolidated to equivalent full-time. The equivalent full-time period in years shall be multiplied by the full-time weekly pay rate for the appropriate group and level to produce the severance pay benefit.
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. An employee, other than an employee of a small employer as defined in this clause whose employment is terminated by reason of redundancy is entitled to the following amount of severance pay in respect of a period of continuous service: Less than 1 year Nil 1 year and less than 2 years 4 weeks’ pay 2 years and less than 3 years 6 weeks’ pay 3 years and less than 4 years 7 weeks’ pay 4 years and less than 5 yeas 8 weeks’ pay 5 years and less than 6 years 10 weeks’ pay 6 years and less than 7 years 11 weeks’ pay 7 years and less than 8 years 13 weeks’ pay 8 years and less than 9 years 14 weeks’ pay 9 years and less than 10 years 16 weeks’ pay 10 years and over 12 weeks’ pay
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. 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. (a) If the Executive’s employment ends as the result of a Termination Without Cause, the Executive shall be entitled to receive his Base Salary and Welfare Plan Benefits (as defined below) through the Initial Term or Renewal Term, as applicable;
(b) If the Executive’s employment ends as the result of Executive’s Incapacity, Executive shall be entitled to receive either available worker’s compensation benefits or insured benefits as provided by the Company’s disability policy;
(c) If the Executive’s employment ends as the result of the death of Executive, Executive shall be entitled to receive his Base Salary and Welfare Plan Benefits through the date of death;
(d) If the Executive’s employment ends as the result of Voluntary Termination, Executive shall be entitled to receive his Base Salary and Welfare Plan Benefits through the Termination Date; or
(e) If the Executive’s employment ends as the result of Termination for Cause, Executive shall be entitled to receive his Base Salary and Welfare Plan Benefits through the Termination Date.
ARTICLE 2.4.2 In those instances where the Company owes Executive payments after the Termination Date, the payments to be made by the Company to the Executive under this Article 2.4 shall be made in installments, and on the payment dates, during the Severance Period (as defined below) on which Base Salary would have otherwise been paid had the Executive’s employment not been terminated. Upon the making of the last of such payments, the Company will have no further Severance Payment obligation to the Executive. All payments shall be subject to applicable withholding and other taxes.
ARTICLE 2.4.3 For so long as the Company is required to make the severance payments described in this Article 2.4 (the “Severance Period”) and subject to the provisions of Article 2.4.4 below, the Company will, in addition to such payment, provide or arrange to provide the Executive with its regular subsidy payments toward benefits substantially similar to those which the Executive was receiving or entitled to receive under the Company’s life, accident, dental and group health insurance plans, 401K, FSA or any similar health or welfare plans in which the Executive was participating immediately prior to the Termination Date (“Welfare Plan Benefits”) at a cost to the Company which is not greater than the cost the Company paid immediately prior to the Termination Date; provided, that to the extent any such coverage is prohibited, whether by contract,...
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.
(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. A. If your employment is terminated by the Company without Cause (as defined in subsection (C) below) at any time that is not within two (2) years after a Change in Control (as defined in subsection (D) below) of Health Net, Inc., you will be entitled to receive, provided you sign a Waiver and Release of Claims substantially in the form attached hereto as Exhibit B, which is incorporated into this Agreement by reference,
(a) a lump sum cash payment equal to one (1) year of your Base Salary in effect immediately prior to the date of your termination; and
(b) the continuation of all your medical, health, disability, life and accident insurance as maintained for your benefit immediately prior to the date of your termination (collectively, “Benefits”) for a period of one (1) year following the effective date of your termination. The lump sum payments referred to above will be paid within thirty (30) days following your termination of employment.
B. If at any time within two (2) years after a Change in Control (as defined in subsection (D) below) of Health Net, Inc. your employment is terminated by the Company without Cause or you terminate your employment for Good Reason (as defined in subsection (E) below) (by giving the Company at least fourteen (14) days prior written notice of the effective date of termination), then you will be entitled to receive, provided you sign a Waiver and Release of Claims substantially in the form attached hereto as Exhibit B, which is incorporated into this Agreement by reference, (i) a lump sum payment equal to two (2) years of your Base Salary in effect immediately prior to the date of your termination, and (ii) the continuation of your Benefits for two (2) years following your date of termination provided, that in the event the Company requests, in writing, prior to such voluntary termination by you for Good Reason that you continue in the employ of the Company for a period of time up to 90 days following such Change in Control, then you shall forfeit such severance allowance if you voluntarily leave the employ of the Company prior to the expiration of such period of time. In the event that your employment is voluntarily terminated by you at any time (except for Good Reason within two (2) years after a Change in Control of Health Net, Inc.), then you shall not be eligible to receive any payments set forth in this Section 8). The lump sum payment will be paid within thirty (30) days following your termination of employment.
C. ...
