Years or More of Service. If the employee has twenty-five (25) years, or more of continuous service, the employee shall be entitled to a lump sum payment equal to eighteen (18) months pay at the rate of pay the employee was earning at the time the position became redundant or surplus. Payment shall be made at the rate of pay (inclusive of any economic adjustment) the employee was earning when the position became redundant. It is agreed that the severance payments outlined in this Collective Agreement incorporates any pay in lieu of notice and/or severance pay provided under the Canada Labour Code.
Appears in 6 contracts
Samples: Collective Agreement, Collective Agreement, Collective Agreement
