Severance Provision. A. Employees accepting severance under the terms outlined in Section 2:04 (Employee "A" or "B") will receive payment under the following schedule: Payment Schedule 0 up to 3 years continuous service $1,000 3 up to 7 years continuous service $3,000 7 up to 13 years continuous service $6,000 13 up to 20 years continuous service $9,000 20 up to 25 years continuous service $13,000 25 or more years continuous service $14,000
B. Employees shall not be eligible for severance pay under the Payment Schedule above in the event of termination for any reason except as outlined in Section 2:04.
C. It is also understood that this Section does not cover the following situations or conditions:
1. Short-term layoffs due to changes in weekly schedules unrelated to technological change.
2. Layoffs caused by fluctuations in sales demand.
Severance Provision. Should any one or more provisions of this CONTRACT be held to be null, void, voidable, or for any reason whatsoever of no force and effect, such provision(s) will be construed as severable from the remainder of this CONTRACT and will not affect the validity of all other provisions of this CONTRACT, which will remain of full force and effect.
Severance Provision. If Employee's employment is terminated by Employer without cause, Employee shall be entitled to severance pay as follows:
(i) if Employee's employment is terminated before July 1, 2000, a three (3) month continuation of Employee's salary and benefits in effect at the time of termination; (ii) if Employee's employment is terminated after July 1, 2000 but before July 1, 2001, a four (4) month continuation of Employee's salary and benefits in effect at the time of termination; and (iii) if Employee's employment is terminated at any time after July 1, 2001, a six (6) month continuation of Employee's salary and benefits in effect at the time to termination. Employee shall not be entitled to severance pay if any of the following conditions occur: (i) Employee is terminated by Employer for "cause"; or (ii) Employee terminates his employment with Employer.
Severance Provision. Upon termination of this Agreement, Executive shall be entitled to the following severance benefits:
A. Voluntary Resignation No severance will be paid.
B. Involuntary termination "without cause" Executive's termination from the Company "without cause" prior to December 31, 2000, will result in Company paying to Executive an amount equal to one-half (1/2) of Executive's annual base salary. Executive shall receive one-half (1/2) of his annual base salary compensation at the time of a change in control event as a severance payment. Executive's heirs, estate or assigns shall receive one-twelfth (1/12) of his annual base salary compensation at the time of his death. Executive shall receive one-fourth (1/4) of his annual base salary compensation following ninety (90) days of continuous disability and upon certification by a licensed medical doctor that Executive can no longer perform his occupation. Executive shall receive a pro rata distribution of any performance bonus payment that would have otherwise been paid to Executive following the completion of the Company's fiscal year.
C. Involuntary termination "for cause" If Executive's employment is terminated for cause, Company will make no further salary payments except those earned up to and including the date of termination.
Severance Provision. Employees accepting severance under the terms outlined in Section (Employee “A” or will receive payment under the following schedule: 0 up to 3 years continuous service 7 years continuous service 8 years continuous service Employees shall not be eligible for severance pay under the Payment Schedule above in the event of termination for any reason except as outlined in Section
Severance Provision. If any provision of this Agreement or application to any Party or circumstances shall be determined by any court of competent jurisdiction to be invalid or unenforceable to any extent, the remainder of this Agreement or the application of such provision to such Party or circumstances, other than as to which it is so determined invalid or unenforceable, shall not be affected thereby, and each provision shall be valid and shall be enforced to the fullest extent permitted by law.
Severance Provision. Any provision thereof which may prove unenforceable shall not affect the validity of any other provision of any other contract.
Severance Provision. Employees accepting severance under the terms outlined in Section 2:04 (Employee "A" or "B") will receive payment under the following schedule: 0 up to 3 years continuous service $1,000 3 up to 7 years continuous service $3,000 7 up to 13 years continuous service $6,000 13 up to 20 years continuous service $9,000 20 up to 25 years continuous service $13,000 25 or more years continuous service $14,000
Severance Provision. Any administrator who is excessed by the District shall have his/her health insurance coverage continued under the same premium-sharing arrangements for a period of three (3) months, commencing the first (1st) of the month following layoff. At the end of the three (3)- month period, the excessed employee shall have the option of remaining in the group plan by paying one hundred (100%) percent of the premium for an additional nine (9) months unless (s)he is reemployed within the year and is eligible to participate in a group health plan with the new employer.
Severance Provision. If Employee's employment is terminated by Employer without cause, Employee shall be entitled to severance pay as follows: Employee will receive one (1) month continuation of Employee's salary and benefits for each year of employment. Employee shall not be entitled to severance pay if any of the following conditions occur: (i) Employee is terminated by Employer "for cause"; or (ii) Employee terminates his employment with Employer.
