Common use of TSP Severance Payment Clause in Contracts

TSP Severance Payment. The amount of TSP payment shall be equivalent to four (4) weeks’ regular (i.e. excluding overtime) pay for each year of service to a maximum payment of fifty- two (52) weeks’ pay and for a minimum payment of eight (8) weeks’ pay. Where there is a partial year of service, the TSP payment will be pro-rated on the basis of the number of months of service.

TSP Severance Payment. The amount of TSP payment shall be equivalent to four (4) weeks’ regular (i.e. excluding overtime) pay for each year of service to a maximum payment of fifty- two (52) weeks’ pay and for a minimum payment of eight (8) weeks’ pay. Where there is a partial year of service, the TSP payment will be profifty-rated on the basis of the number of months of service.two

TSP Severance Payment. The amount of TSP payment shall be equivalent to four three (43) weeks’ regular (i.e. excluding overtime) pay for each year of service to a maximum payment of fifty- fifty-two (52) weeks’ pay and for a minimum payment of eight (8) weeks’ pay. Where there is a partial year of service, the TSP payment will be pro-pro- rated on the basis of the number of months of service.