Severance Pay Entitlement. Severance pay will be granted to full time employees who are laid-off. This pay will be as follows: a) Equal to or greater than 6 months continuous service but less than or equal to 2 years of service - Two (2) weeks pay. b) Greater than 2 years but less than or equal to 18 years of service - One (1) additional weeks pay for every year of service greater than 2 years of service. c) Greater than 18 years - Two (2) additional weeks pay for each additional year of service beyond 18 years. d) The maximum severance shall be capped at 52 weeks of pay.
Appears in 4 contracts
Samples: Collective Agreement, Collective Agreement, Collective Agreement
Severance Pay Entitlement. β Severance pay will be granted to full time employees who are laid-off. This pay will be as follows:
a) Equal to or greater than 6 months continuous service but less than or equal to 2 years of service - Two (2) weeks pay.
b) Greater than 2 years but less than or equal to 18 years of service - One (1) additional weeks pay for every year of service greater than 2 years of service.
c) Greater than 18 years - Two (2) additional weeks pay for each additional year of service beyond 18 years.
d) The maximum severance shall be capped at 52 weeks of pay.
Appears in 1 contract
Samples: Collective Agreement
