Common use of Severance Pay Upon Termination of Employment Clause in Contracts

Severance Pay Upon Termination of Employment. An Employee who resigns after four (4) or more years of continuous employment is entitled to Severance Pay on resignation in accordance with the following formula: Number of years of service X weekly rate of pay on resignation The maximum Severance Pay grantable under this Clause is weeks pay, less the number of weeks of any previous Severance Pay granted.

Severance Pay Upon Termination of Employment. 48.01 An Employee who resigns after four (4) or more years of continuous employment is entitled to Severance Pay on resignation in accordance with the following formula: Number of years of service X weekly rate of pay on resignation 2 The maximum Severance Pay grantable under this Clause is 13 weeks pay, less the number of weeks of any previous Severance Pay granted.

Severance Pay Upon Termination of Employment. 48.01 An Employee employee who resigns after four (4) or more years of continuous employment is entitled to Severance Pay on resignation in accordance with the following formula: Number of years of service X weekly rate of pay on resignation 2 The maximum Severance Pay grantable under this Clause is 13 weeks pay, less the number of weeks of any previous Severance Pay granted.

Severance Pay Upon Termination of Employment. 47.01 An Employee who resigns after four (4) or more years of continuous employment is entitled to Severance Pay on resignation in accordance with the following formula: Number of years of service X weekly rate of pay on resignation 2 The maximum Severance Pay grantable under this Clause is 13 weeks pay, less the number of weeks of any previous Severance Pay granted.

Severance Pay Upon Termination of Employment. An Employee who resigns resigns, retires or is laid off after four seven (47) or more years of continuous employment is entitled to Severance Pay severance pay on resignation in accordance with equal to half the following formula: Number number of years of service X times weekly rate of pay on resignation termination. The maximum Severance Pay severance pay grantable under this Clause is fifteen (15) weeks pay, less the number of weeks of any previous severance pay granted. An Employee, who is dismissed for cause or who has been declared to have abandoned position, shall not be entitled to Severance Pay granted.Pay. ARTICLE ALLOWANCES