Severance Pay on Closing of Plant Sample Clauses

Severance Pay on Closing of Plant. In the event there is a sale or transfer or a permanent closure of the plant or part thereof causing a regular full-time employee to lose their employment, the Company hereby agrees to pay such an employee severance pay at their regular rate of pay accordingly to the following schedule: Full-time Consecutive Severance Pay Service One (1) year ...................... Two (2) weeks’ pay
Sample 1
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Severance Pay on Closing of Plant. In the event there is a sale or transfer or a permanent closure of the plant or part thereof causing a regular full- time employee to lose his or her employment, the Company hereby agrees to pay such an employee severance pay at his or her regular rate of pay accordingly to the following schedule: Full-time Consecutive Severance Pay Service Up to two (2) years One (1) week. Over two (2) years One (1) week's pay for every year of full-time service to a maximum of fifteen (15) weeks. This clause does not apply to a temporary layoff, full-time employees who accept other full-time or part-time employment with the Company, or to regular full-time employees who lose employment and are re-instated within thirty (30) days to a full-time status. Employees who qualify shall not be entitled to the following benefits contained in this sub-section pertaining to normal termination.
Sample 1
Severance Pay on Closing of Plant. ‌ In the event there is a sale or transfer or a permanent closure of the plant or part thereof causing a regular full-time employee to lose their employment, the Company hereby agrees to pay such an employee severance pay at their regular rate of pay accordingly to the following schedule: Full-time Consecutive Service Severance Pay One (1) year.................................... Two (2) weeks’ pay Up to three (3) years ...................... Three (3) weeks’ pay Over three (3) years........................ One (1) week’s pay for every year of full-time service up to a maximum of sixteen (16) weeks’ pay This clause does not apply to a temporary layoff, full- time employees who accept other full-time or part- time employment with the Company, or to regular full- time employees who lose employment and are re- instated within thirty (30) days to a full-time status. Employees who qualify shall not be entitled to the following benefits contained in this Article pertaining to normal termination.
Sample 1

Related to Severance Pay on Closing of Plant

  • Severance Benefit If the Employee’s employment is terminated by the Company for any reason other than Cause (as defined below) or if the Employee terminates his/her employment for Good Reason (as defined below), the Company shall provide Employee with the following:

  • Severance Pay 4.4.2(a) Severance pay - other than employees of a small employer An employee, other than an employee of a small employer, 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: Period of continuous service Severance pay 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 * Week’s pay is defined in 4.4.1.

  • Vacation Pay on Termination An employee whose employment is terminated shall receive vacation pay at the appropriate percentage of the wages or salary earned during the period of entitlement in accordance with the employee's years of service.

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