SEVERENCE PAY Sample Clauses

SEVERENCE PAY. 4.4.1 In the event the Employment Period is terminated by the Company for any reason other than pursuant to Section 4.2.1 or Section 4.3.2 hereof or if the Employment Period is terminated because of a permanent disability of Employee pursuant to Section 4.1, upon the effectiveness of any such termination, the Company shall be obligated to pay to the employee (or his executors,administrators or assigns, as the case may be) all unpaid salary, benefits and bonuses (if any) accrued through the date of effectiveness of such termination and, in addition, a cash severance payment equal to eighteen (18) month's total base salary at the rates set forth herein, and such other benefits as may be required by law. 4.4.2 In addition, all stock options and general stock appreciation rights granted by the Company to Employee which otherwise would have vested within eighteen (18) months following the Date of Termination for death or disability shall accelerate and become fully vested and exercisable on the Date of Termination for death or disability, and shall remain exercisable for a period ending on the normal expiration date specified in the option agreements. 4.4.3. In the event the Employment period is terminated by the Company pursuant to Section 4.2.1 hereof, or the Employment Period is terminated by Employee pursuant to Section 4.3.2 hereof, the Company shall have no obligation to pay any severance pay to Employee. The Company shall, however, be obligated to pay to Employee (or executors, administrators or assigns, as the case may be) all unpaid salary, benefits and bonuses (if any) accrued through the date of termination and shall provide such other benefits as may be required by law.

SEVERENCE PAY. Subject to the seniority provisions of this agreement, full time employees who become permanently displaced as a result of the company closing, or as a consequence of a technological change, shall be entitled to severance allowance. The amount of severance allowance to which an employee shall be entitled is as follows: Under 2 years of employment - 5 days 3 years 6 days 4 years 8 days 5 years 10 days over 5 years 2 days wages for each completed year of employment.

SEVERENCE PAY. In the event that the City Clerk is removed from office by the Council of the City of Prescott, the City Clerk shall be entitled to severance pay as set forth below. Severance pay shall mean the gross monthly salary as set from time to time between the parties. In the event that the City Clerk is removed during the term of this Agreement, or any time thereafter, then the City Clerk shall be entitled to six (6) months severance pay. Should the City Clerk resign under this Agreement, the City Council shall have no obligation to pay severance pay to the City Clerk, but may, at its discretion, determine whether or not severance pay will be paid to the City Clerk. The City shall not be obligated for severance hereunder in the event that the cause for removal shall be felonious conduct while in office, or in the event that the City Clerk shall not have given a minimum of thirty (30) days notice of her resignation.

SEVERENCE PAY. 14.1. Employees are expected to give a minimum of two (2) weeks written notification when terminating employment with the District. Except for disciplinary cause, when a full-time employee is terminated by action of the District, the employee will be notified in writing two (2) weeks prior to the effective separation date. In the event the District does not give such notification, the employee will be entitled to severance pay in accordance with the formula set forth below: 14.1.1. Full-time, regular employees will be entitled to eight (8) hours pay for each full calendar month of continuous employment not to exceed one hundred sixty (160) hours pay. 14.1.2. Employees in limited term or part-time positions, probationary employees and employees who are separated for cause are not eligible for severance pay under any circumstances.

SEVERENCE PAY. 4.4.1 In the event the Employment Period is terminated by the Company for any reason other than pursuant to Section 4.2.1 or Section 4.3.2 hereof or if the Employment Period is terminated because of a permanent disability of Employee pursuant to Section 4.1, upon the effectiveness of any such termination, the Company shall be obligated to pay to the employee (or his executors, administrators or assigns, as the case may be) all unpaid salary, benefits and bonuses (if any) accrued through the date of effectiveness of such termination and, in addition, a cash severance payment equal to five (5) year's total base salary plus bonuses as if such bonuses were paid at the maximum rate hereunder, at the rates set forth herein, and such other benefits as may be required by law.

SEVERENCE PAY. Where the employee’s employment is terminated in circumstances where the company no longer wishes the job that the employee has been doing to be done by anyone and this is not due to the ordinary and customary turnover of labour, the employee shall be entitled to the following amount of severance pay in respect of continuous service: Period of Continuous Service Entitlement if made Redundant Less than one year Nil 1 year but less than 2 years 2 weeks 2 years but less than 3 years 4 weeks 3 years but less than 4 years 6 weeks 4 years but less than 5 years 8 weeks 5 years plus 3 weeks for each year of service beyond 5 years To a maximum entitlement of 52 weeks

SEVERENCE PAY. (i) This sub-clause shall apply where an employee is terminated due to redundancy. The Oasis shall be exempt from the operation of this sub-clause where the employee concerned has been offered, but has refused to accept, an alternative position within The Oasis's organisation structure of comparable skill and accountability levels and remuneration no less than the position previously held by the employee. (ii) In addition to any required period of notice, and subject to sub-clause (E) of this Clause, the employee shall be entitled to the following: Completed Years of Service with The Oasis Entitlement Less than 1 year Nil 1 year and less than 2 years 5 weeks pay 2 years and less than 3 years 9 weeks pay 3 years and less than 4 years 13 weeks pay 4 years and less than 5 years 16 weeks pay 5 years and less than 6 years 19 weeks pay 6 years and less than 7 years 22 weeks pay 7 years and less than 8 years 25 weeks pay 8 years and less than 9 years 28 weeks pay 9 years and less than 10 years 31 weeks pay 10 years and thereafter 34 weeks pay

SEVERENCE PAY. “Time while employees are on strike shall not be considered a break in service” Agree to grandparent the employees who were employed and entitled to this leave as at March 31, 2001.

SEVERENCE PAY. 24-01 Upon retirement or voluntary resignation after twenty (20) or more years of service as a teacher in the Derry School District, a teacher shall be paid $40/day for any accumulated sick days.

SEVERENCE PAY. The severance pay provisions of prior contracts are hereby rescinded, except that teachers employed in the Athens Area Schools on June 1, 1987, shall, upon retirement from the Athens Area Schools, have the choice of the severance pay provision in Article XXIV "Severance Pay" of the 1986-87 "Master Agreement," or the choice of the provisions of Article X "Paid Leaves Of Absence" of the 1987- 88 Agreement. Persons employed after June 1, 1987, shall not have the "Sever- ance Pay" option. For reference, the 1986-87 "Severance Pay" article states: In recognition of service to the school district, a severance payment shall be paid to a teacher upon retirement, provided such teacher shall have been employed by the Athens School District for not less than a total of fifteen (15) years. The payment to the teacher shall be based upon the average best five (5) con- secutive years basic teaching salary which the teacher shall have been paid while a teacher in the Athens Area School system, but may not exceed $2,200.00. The average salary shall be multiplied by .01 and the product multiplied by the number of years taught in Athens. Any teacher receiving this benefit from the Athens Area Schools and returning to employment with the Athens Area Schools after retirement shall not be eligible for this benefit a second time.