Common use of Severance Pay on Closing of Store Clause in Contracts

Severance Pay on Closing of Store. In the event there is a permanent closure of a store, causing a regular full-time employee to lose their employment, the Employer hereby agrees to pay such an employee severance pay at their regular rate of pay according to the following schedule: Full-time Consecutive Service Severance Pay 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 twenty (20) weeks This article does not apply to a temporary lay-off, full-time employees who accept other full-time or part-time employment with the Employer, or to regular full-time employees who lose employment and are reinstated within thirty (30) days to full-time status. Employees who qualify shall not be entitled to the following benefits contained in the following articles pertaining to normal termination.

Severance Pay on Closing of Store. In the event there is a permanent closure of a store, causing a regular full-time employee to lose their employment, the Employer Company hereby agrees to pay such an employee severance pay at their regular rate of pay according to the following schedule: Full-time Consecutive Service Severance Pay Up to two (2) years - One (1) week Over two (2) years - One (1) week’s weeks pay for every year of full-time service to a maximum of twenty (20) weeks weeks. This article clause does not apply to a temporary lay-off, ; full-time employees who accept other full-time or part-time employment with the EmployerCompany, or to regular full-time employees who lose employment and are reinstated within thirty (30) days to full-time status. Employees who qualify shall not be entitled to the following benefits contained in the following articles sections pertaining to normal termination.

Severance Pay on Closing of Store. In the event there is a permanent closure of a store, causing a regular full-full- time employee to lose their employment, the Employer Company hereby agrees to pay such an employee severance pay at their regular rate of pay according to the following schedule: Full-time Consecutive Service Severance Pay Up to two (2) years - One (1) week Over two (2) years - One (1) week’s pay for every year of full-full- time service to a maximum of twenty (20) weeks This article clause does not apply to a temporary lay-off, ; full-time employees who accept other full-time or part-time employment with the EmployerCompany, or to regular full-time employees who lose employment and are reinstated within thirty (30) days to full-time status. Employees who qualify shall not be entitled to the following benefits contained in the following articles sections pertaining to normal termination.

Severance Pay on Closing of Store. In the event there is a permanent closure of a store, causing a regular full-time employee to lose their employment, the Employer hereby agrees to pay such an employee severance pay at their regular rate of pay according to the following schedule: Full-time Consecutive Service Severance Pay 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 twenty (20) weeks This article Article does not apply to a temporary lay-off, ; full-time employees who accept other full-time or part-time employment with the Employer, or to regular full-time employees who lose employment and are reinstated within thirty (30) days to full-time status. Employees who qualify shall not be entitled to the following benefits contained in the following articles sections pertaining to normal termination.