SEVERANCE PAY ELIGIBILITY & CALCULATION Sample Clauses

SEVERANCE PAY ELIGIBILITY & CALCULATION. 10.9.1 Severance pay applies where a transfer is not accomplished in accordance with Clause 10.5.1 and the employee has opted to accept severance pay, rather than exercise seniority (bump) or the exercise of seniority (bump) provisions do not apply to the designated employee. In this case, the designated employee shall be paid severance pay, calculated on the employee's salary as of the end date of his/her notice of position discontinuance period.
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Related to SEVERANCE PAY ELIGIBILITY & CALCULATION

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  • Holiday Pay Eligibility ‌ In order to be eligible for holiday pay, an employee must be in a pay status on the last regularly scheduled working day immediately before or on the first regularly scheduled day immediately after the holiday (§ 2-18-603, Mont. Code Xxx.). If a new employee or an employee returning from inactive status or layoff reports to work on a day following the holiday, the employee will not receive compensation for the holiday except as provided for in Section 7.

  • Overtime Eligibility and Compensation Employees are eligible for overtime compensation under the following circumstances:

  • Vacation Eligibility Employees shall be eligible for vacation, based on their Net Credited Service (NCS) with the Company, as follows:

  • Holiday Eligibility Except as otherwise provided in this Article, an employee must be in paid status on the working day immediately preceding or succeeding the holiday to be paid for the holiday.

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