EX-10.1 2 a15-7532_3ex10d1.htm EX-10.1 EXECUTION VERSION EMPLOYEE BENEFITS AGREEMENT
Exhibit 10.1
EXECUTION VERSION
This Employee Benefits Agreement, dated as of March 24, 2015, is entered into by and between Xxxxxx Industries Ltd., a Bermuda exempted Company (“Navy”), Xxxxxx Red Lion Limited, a Bermuda exempted Company and currently a wholly owned Subsidiary of Navy (“Red Lion”), and C&J Energy Services, Inc., a Delaware corporation (“Xxxxx,” and together with Navy and Red Lion, the “Parties”), effective as between Navy and Red Lion at the Separation Time and effective as among all the Parties at the Effective Time (as defined below).
ARTICLE I
Unless otherwise defined in this Agreement, capitalized words and expressions and variations thereof used in this Agreement or in its Exhibits have the meanings set forth below. Capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Separation Agreement.
1.1 “Agreement” means this Employee Benefits Agreement, including all the Exhibits hereto.
1.2 “Benefit Continuation Period” means the period of time from the Effective Time through the earlier of (i) the one-year anniversary of the Effective Time and (ii) December 31, 2015.
1.3 “Canadian Defined Contribution Plan” has the meaning given to it in Section 2.4(b).
1.4 “Code” means the Internal Revenue Code of 1986, as amended, or any successor federal income tax Law. Reference to a specific Code provision also includes any proposed, temporary or final regulation in force under that provision.
1.5 “Continuing Employees” has the meaning given to it in Section 2.1 and includes those Delayed Transfer Service Providers who become Continuing Employees as described in Section 2.6(a).
1.6 “Covered Flex Plan Employees” has the meaning given to it in Section 3.3.
1.7 “Delayed Transfer Service Providers” has the meaning given to it in Section 2.6(a).
1.8 “Effective Time” has the meaning given to it in the Merger Agreement.
1.9 “ERISA” means the Employee Retirement Income Security Act of 1974, as amended. Reference to a specific provision of ERISA also includes any proposed, temporary or final regulation in force under that provision.
1.10 “Hire Date” has the meaning given to it in Section 2.6(a).
1.11 “Merger Agreement” has the meaning given to it in the preamble to this Agreement.
1.12 “Navy” has the meaning given to it in the preamble to this Agreement.
1.13 “Navy 401(k) Plan” has the meaning given to it in Section 3.1(a).
1.14 “Navy Employee Benefit Plan” means any employee benefit plan, program, policy, practice, agreement, or other arrangement providing benefits to any current or former employee, consultant, officer or director of Navy or any of its Subsidiaries or any beneficiary or dependent thereof that is entered into, sponsored or maintained by Navy or any of its Subsidiaries, whether or not written, including any employee welfare benefit plan within the meaning of Section 3(1) of ERISA, any employee pension benefit plan within the meaning of Section 3(2) of ERISA (whether or not any such plan is subject to ERISA) and any bonus, incentive, deferred compensation, vacation, insurance, stock purchase, stock option, equity award, equity-linked award, severance, retention, employment, change of control or fringe benefit plan, program, policy, practice, agreement, or arrangement.
1.15 “Navy Flex Plan” has the meaning given to it in Section 3.3.
1.16 “Navy Nonqualified Plans” has the meaning given to it in Section 6.3(a).
1.17 “Navy Severance Plan” means the Xxxxxx Industries, Inc. Severance Plan, as it is in effect as of the signing of this Agreement. For purposes of this Agreement, Navy Severance Plan also includes the Xxxxxx Industries, Inc. Severance Plan as modified by Xxxxxx Production Services Ltd., but only to the extent all such modifications are accurately set forth on Exhibit D.
1.18 “Navy U.S. DB Plan” has the meaning given to it in Section 6.1.
1.19 “Navy U.S. DB Plan Trust” has the meaning given to it in Section 6.1.
1.20 “Navy Vacation Policy” means policy 300.40.2 (Vacation) of the Xxxxxx Industries, Inc. Human Resources Policies and Procedures Manual, with effective date January 1, 2009.
1.21 “NCPS Vacation Policy” means Index No. NCPS 21.0 of the Nabors Completion & Production Services Co. Human Resources Policies and Procedures Manual, with effective date January 1, 2013.
1.22 “NCS” has the meaning given to it in Section 2.6(a).
1.23 “New Plans” has the meaning given to it in Section 3.2(a).
1.24 “Nonqualified Plan Participants” has the meaning given to it in Section 6.3(b).
1.25 “Xxxxx” has the meaning given to it in the preamble to this Agreement.
1.26 “Xxxxx Common Stock” has the meaning given to it in the Merger Agreement.
1.27 “Xxxxx Employee” means each individual who is employed by Xxxxx or a Subsidiary of Xxxxx immediately prior to the Effective Time.
1.28 “Xxxxx Employee Benefit Plan” has the meaning given to it in the Merger Agreement.
1.29 “Project Services Agreement” has the meaning given to it in Section 2.6(a).
1.30 “Red Lion” has the meaning given to it in the preamble to this Agreement.
1.31 “Red Lion Employee” means any individual who, immediately prior to the Effective Time, is employed by a Red Lion Entity, including any individual absent due to short-term medical leave, long-term medical leave, vacation, holiday or leave of absence, including military leave and leave under the Family and Medical Leave Act, but excluding those individuals listed on Exhibit A and/or Exhibit C.
1.32 “Red Lion Employee Benefit Plan” has the meaning given to it in the Merger Agreement.
1.33 “Red Lion Group 401(k) Plan” has the meaning given to it in Section 6.2.
1.34 “Red Lion Group Flex Plan” has the meaning given to it in Section 3.3.
1.35 “Red Lion Group Severance Plan” has the meaning given to it in Section 3.1(b).
1.36 “Red Lion Self-Insured Workers’ Compensation Liabilities” has the meaning given to it in Section 2.5(a).
1.37 “Red Lion Vacation Policy” has the meaning given to it in Section 3.4.
1.38 “Red Lion Workers’ Compensation Claims” mean all Liabilities under or in connection with workers’ compensation benefits with respect to any Continuing Employee or any other Person who is or was employed by a Red Lion Entity, in each case, arising from an Action first asserted upon or after the Separation Time or, with respect to Continuing Employees who are Delayed Transfer Service Providers, upon or after their applicable Hire Date.
1.39 “Separation Agreement” has the meaning given to it in the preamble to this Agreement.
1.40 “Service” has the meaning given to it in Section 2.6(a).
1.41 “Service End Date” has the meaning given to it in Section 2.6(a).
1.42 “Transaction Agreements” has the meaning given to it in the Merger Agreement.
1.43 “Transferred Account Balances” has the meaning given to it in Section 3.3.
1.44 “TSA Benefits Transition Period” has the meaning given to it in Section 2.4(b).
1.45 “WARN Act” has the meaning given to it in Section 5.2.
ARTICLE II
EMPLOYMENT OF RED LION EMPLOYEES;
SEVERANCE; ASSUMPTION AND RETENTION OF LIABILITIES;
RED LION PARTICIPATION IN NAVY EMPLOYEE BENEFIT PLANS;
RED LION WORKERS COMPENSATION CLAIMS
Employee asserting that such Continuing Employee is entitled to severance benefits under the applicable Navy Severance Plan.
2.3 Assumption and Retention of Liabilities.
(a) From and after the Separation Time, except as otherwise expressly provided in this Agreement, a member of the Red Lion Group shall retain, assume, perform, discharge, fulfill when due, hold the Navy Group harmless from, and to the extent applicable, comply with all of the following, in accordance with their respective terms: (i) all Red Lion Employee Benefit Plans and all Liabilities under and in connection with all Red Lion Employee Benefit Plans, in each case, arising from any Action first asserted upon or after the Separation Time; (ii) all Liabilities arising from any Action first asserted upon or after the Separation Time with respect to the employment or other service or termination of employment or other service of all Continuing Employees who are not Delayed Transfer Service Providers; (iii) all Liabilities arising from any Action first asserted upon or after his or her Hire Date with respect to the employment or other service or termination of employment or other service of all Delayed Transfer Service Providers who become Continuing Employees; (iv) all Liabilities arising from any Action first asserted upon or after the Separation Time with respect to or in connection with the engagement or termination of services by Red Lion or a Red Lion Entity of any individual who is or was an independent contractor (including any temporary service worker, consultant, freelancer, on-call worker, incidental worker, worker providing services under a retainer agreement, or other non-payroll worker of Red Lion or any Red Lion Entity, who is not an employee of Red Lion or a Red Lion Entity under applicable Laws) (for the avoidance of doubt, no such individual under this clause (iv) shall be a “Red Lion Employee” under this Agreement); (v) all Red Lion Workers’ Compensation Claims; and (vi) any other Liabilities expressly assigned to the Red Lion Group under this Agreement.
(b) The Navy Group shall retain, assume, perform, discharge and fulfill when due, and hold the Red Lion Group harmless from: (i) all Liabilities with respect to the employment or other service or termination of employment or other services of all Continuing Employees who are not Delayed Transfer Service Providers to the extent that such Liabilities arose from an Action pending or asserted in writing before the Separation Time; (ii) all Liabilities with respect to the employment or other service or termination of employment or other services of all Delayed Transfer Service Providers who become Continuing Employees to the extent that such Liabilities arose from an Action pending or asserted in writing before his or her Hire Date; (iii) except as otherwise set forth in Section 2.6(b), all Liabilities with respect to the employment or other service or termination of employment or other service of all individuals who provide or have provided services to the Navy Group and who are not Continuing Employees (other than such claims referenced in Section 2.3(a)(iv)); (iii) all Liabilities arising under or relating to workers’ compensation claims of Red Lion Employees that are not Red Lion Workers’ Compensation Claims; and (iv) any other Liabilities expressly assigned to the Navy Group under this Agreement.
Lion Employee Benefit Plan, (ii) the Red Lion Employees shall cease to accrue further benefits and shall cease to be active participants in the Navy Employee Benefit Plans (other than any Red Lion Employee Benefit Plan), and (iii) the Parties shall take all necessary action before the Separation Time to effectuate the foregoing clauses (i) and (ii). Xxxxx and Red Lion shall indemnify and hold Navy and its Subsidiaries, other than the Red Lion Entities, harmless for any Liability arising solely from the Continuing Employees’ continued participation in any Navy Employee Benefit Plan listed on Exhibit B hereto after the Separation Time; provided, however, that Navy and its Subsidiaries shall take commercially reasonable efforts to cooperate with Xxxxx and Red Lion in defending against any claims for any such Liability. Except as otherwise expressly provided in this Agreement (including Section 2.2) or any other Transaction Agreement, Navy shall indemnify and hold Red Lion, each Red Lion Entity and Xxxxx harmless for any Liability under any Navy Employee Benefit Plan with respect to service (and the termination of service) prior to the Separation Time of Red Lion Employees and of individuals described in Section 2.3(a)(iv) of this Agreement; provided, however, that such indemnification obligation shall not apply to the extent (and only to the extent) that any such Liability results from action taken by or omitted by any Red Lion Entity or Xxxxx after the Separation Time. For the avoidance of doubt, Navy shall not be obligated to indemnify the Red Lion Group with respect to Liabilities for compensation or benefits that accrue, are paid or are provided to Continuing Employees on or after the Separation Time even if the levels of, or eligibility for, compensation or benefits are based on service provided prior to the Separation Time.
provide reasonable cooperation with respect to any such administration to the extent requested by the Red Lion Group.
ARTICLE III
TERMS OF EMPLOYMENT FOR EMPLOYEES
3.1 Levels of Compensation and Benefits for Employees.
(a) During the Benefit Continuation Period, the Red Lion Group shall provide to each Continuing Employee and Xxxxx Employee either, or a combination of, as determined in the sole discretion of Red Lion and its appropriate officers, comparable types and levels of employee benefits (including salary, cash incentive compensation and health and welfare benefits) as those provided immediately prior to the Effective Time (or any applicable Hire Date) to similarly-situated employees of Xxxxx or to similarly-situated Red Lion Employees (except that, with respect to the Canadian Defined Contribution Plan and the Xxxxxx Industries, Inc. Retirement Savings Plan (the “Navy 401(k) Plan”), such comparable types and levels of benefits shall be provided as soon as administratively feasible, but in any event no later than May 31, 2015 (or, if later, the applicable Hire Date with respect to Continuing Employees who are Delayed Transfer Service Providers)); provided, however, that the Red Lion Group shall
continue to provide the type and level of employee benefits to Continuing Employees to the extent necessary to comply with any comparable employment or similar requirement contained in the applicable Navy Severance Plan; and provided further, however, that nothing in this Section 3.1(a) shall restrict or prevent the Red Lion Group from taking any actions during the Benefit Continuation Period with respect to the Continuing Employees that would result in the payment of severance benefits pursuant to Section 3.1(b), so long as such actions do not result in any Liability to the Navy Group.
(b) Immediately following the Effective Time, each Continuing Employee and each Xxxxx Employee shall be eligible to receive severance benefits from the Red Lion Group under the same terms and conditions as the applicable Navy Severance Plan (the “Red Lion Group Severance Plan”). The Red Lion Group shall take into account for purposes of calculating (i) a Continuing Employee’s severance benefits under the Red Lion Group Severance Plan, such Continuing Employee’s service with Navy and its Affiliates (and their respective predecessors) prior to the Separation Time (or any applicable Hire Date), and with Red Lion and its Affiliates from and after the Separation Time (or applicable Hire Date), as service for the Red Lion Group and (ii) a Xxxxx Employee’s severance benefits under the Red Lion Group Severance Plan, such Xxxxx Employee’s service with Xxxxx and its Affiliates (and their respective predecessors) prior to the Effective Time, and with Red Lion and its Affiliates from and after the Effective Time, as service for the Red Lion Group.
(a) For all purposes (including vesting, eligibility to participate and level of benefits) under the employee benefit plans of the Red Lion Group providing benefits to any Continuing Employees or Xxxxx Employees from or after the Effective Time (the “New Plans”), Red Lion shall take commercially reasonable efforts to provide, subject to the approval of any applicable insurance carrier, that each Continuing Employee and Xxxxx Employee shall be credited with his or her years of service with Navy, Red Lion, Xxxxx, their respective Affiliates and each of their respective predecessors, as applicable, prior to the Effective Time or, with respect to Continuing Employees who are Delayed Transfer Service Providers, prior to the applicable Hire Date, in either case, to the same extent as such Continuing Employee or Xxxxx Employee, as applicable, was entitled, before the Effective Time or applicable Hire Date, to credit for such service under any similar employee benefit plan in which such Continuing Employee or Xxxxx Employee, as applicable, participated or was eligible to participate immediately prior to the Effective Time or applicable Hire Date; provided that the foregoing shall not apply with respect to benefit accrual under any defined benefit pension plan or to the extent that its application would result in a duplication of benefits with respect to the same period of service.
(b) In addition, and without limiting the generality of the foregoing, Red Lion shall take commercially reasonable efforts to cause, subject to the approval of any applicable insurance carrier, (i) each Continuing Employee and Xxxxx Employee to be immediately eligible to participate, without any waiting time, in any and all New Plans to the extent coverage under such a New Plan is comparable to the applicable employee benefit plan in which such Continuing Employee or Xxxxx Employee participated immediately prior to the Effective Time or applicable Hire Date, and (ii) for purposes of each New Plan providing medical, dental,
pharmaceutical and/or vision benefits to any Continuing Employee or Xxxxx Employee, all pre-existing condition exclusions and actively-at-work requirements of such New Plan to be waived for such employee and his or her covered dependents, unless and to the extent the individual, immediately prior to entry in the New Plans, was subject to such conditions under the applicable employee benefit plan in which such Continuing Employee or Xxxxx Employee participated immediately prior to the Effective Time or applicable Hire Date.
NCPS Vacation Policy in which he or she participated, as applicable, immediately prior to the end of the TSA Benefits Transition Period (or the applicable Hire Date).
ARTICLE IV
BONUS AWARDS FOR RED LION EMPLOYEES
ARTICLE V
COBRA, HIPAA, WARN
5.1 COBRA and HIPAA. The Red Lion Group will assume and be responsible for, and shall indemnify and hold harmless the Navy Group for, all Liabilities resulting from any Actions asserted upon or after the Separation Time with respect to Continuing Employees or, with respect to Continuing Employees who are Delayed Transfer Service Providers, asserted upon or after the Hire Date, and, in each case, their eligible dependents, in respect of health insurance under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended, and the Health Insurance Portability and Accountability Act of 1996, Sections 601, et seq. and Sections 701, et seq. of ERISA, Section 4980B and Sections 9801, et seq. of the Code and applicable state or similar Laws.
5.2 WARN Act. Effective from and after the Separation Time, the Red Lion Group shall assume Liability for, and shall indemnify and hold harmless the Navy Group with respect to, any Liabilities incurred by the Navy Group pursuant to the Worker Adjustment and Retraining Notification Act and any similar Law (collectively, the “WARN Act”) resulting from the termination of employment of any Continuing Employee by any member of the Red Lion Group upon or after the Separation Time. The Navy Group shall assume Liability for, and shall indemnify and hold harmless the Red Lion Group with respect to, any Liabilities incurred by the Red Lion Group pursuant to the WARN Act resulting from the termination of employment of any Red Lion Employee by any member of the Red Lion Group prior to the Separation Time and the termination of employment of any other current or former employee or service provider of the Navy Group, in each case who is not a Continuing Employee.
ARTICLE VI
PENSION PLANS AND DEFERRED COMPENSATION PLANS
6.1 Navy U.S. DB Plan. From and after the Effective Time, the Navy Group shall retain all Liabilities under Navy’s Pool Company Retirement Income Plan (the “Navy U.S. DB Plan”) and all Assets held under the trust(s) associated with the Navy U.S. DB Plan (collectively, the “Navy U.S. DB Plan Trust”). The Navy Group shall indemnify and hold harmless the Red
Lion Group with respect to all Liabilities under, relating to, and in connection with the Navy U.S. DB Plan and the Navy U.S. DB Plan Trust.
6.3 Nonqualified Deferred Compensation.
(a) Navy shall retain, or cause its Subsidiaries (other than any Red Lion Entities) to retain, all Assets and all Liabilities arising out of or relating to the Xxxxxx Industries, Inc. Deferred Compensation Plan and the Xxxxxx Industries, Inc. Executive Deferred Compensation Plan (collectively, the “Navy Nonqualified Plans”).
(b) As soon as reasonably practicable following the Separation Time or, the applicable Hire Date with respect to Continuing Employees who are Delayed Transfer Service Providers, Navy shall provide to Red Lion a list of all Continuing Employees who are participants in the Navy Nonqualified Plans (the “Nonqualified Plan Participants”). Following the Effective Time, Red Lion shall provide, or shall cause to be provided, to Navy notice of the termination of employment of any Nonqualified Plan Participant upon or as soon as practicable following any such termination.
ARTICLE VII
funding vehicle related thereto. Nothing contained in this Agreement shall (a) constitute or be deemed to be an amendment to any Navy Employee Benefit Plan, Xxxxx Employee Benefit Plan or Red Lion Employee Benefit Plan or any other compensation or benefit plan, program, practice, policy, agreement or arrangement of Xxxxx, Navy, Red Lion, the Red Lion Group or any of their respective Affiliates; or (b) limit the right of Red Lion, Navy, Xxxxx or any of their respective Affiliates to terminate the employment or service of any employee or other service provider at any time.
ARTICLE VIII
if to Navy or, prior to the Effective Time, Red Lion:
Xxxxxx Industries Ltd
Crown House
Second Floor
4 Par-la-Ville Road
Xxxxxxxx, XX 08
Bermuda
Attention: Corporate Secretary
with a copy (which shall not constitute notice) to:
Nabors Corporate Services, Inc.
000 Xxxx Xxxxxx Xxxx, Xxxxx 0000
Xxxxxxx, Xxxxx 00000
Attention: Xxxxx Xxxxxx
Facsimile: (000) 000-0000
with a copy (which shall not constitute notice) to:
Milbank, Tweed, Xxxxxx & XxXxxx LLP
Xxx Xxxxx Xxxxxxxxx Xxxxx
Xxx Xxxx, Xxx Xxxx 00000
Attention: Xxxxxxx X. Xxxxxx
Xxxxx X. Xxxxxxxxx
Facsimile: (000) 000-0000
if to Xxxxx:
C&J Energy Services, Inc.
0000 Xxxxxxxxx
Xxxxxxx, XX 00000
Attention: Xxxxxxxx Xxxxx
Facsimile: (000) 000-0000
with a copy (which shall not constitute notice) to:
Xxxxxx & Xxxxxx L.L.P.
0000 Xxxxxx, Xxxxx 0000
Xxxxxxx, Xxxxx 00000
Attention: Xxxxxxx X. Xxxxx
Xxxxxxx X. Xxxx
Facsimile: (000) 000-0000
if to a member of the Red Lion Group after the Effective Time:
C&J Energy Services Ltd.
Canon’s Court
00 Xxxxxxxx Xxxxxx
Xxxxxxxx XX00
Xxxxxxx
Attention: Corporate Secretary
with a copy (which shall not constitute notice) to:
Xxxxxx & Xxxxxx L.L.P.
0000 Xxxxxx, Xxxxx 0000
Xxxxxxx, Xxxxx 00000
Attention: Xxxxxxx X. Xxxxx
Xxxxxxx X. Xxxx
Facsimile: (000) 000-0000
[Signature Page Follows]
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XXXXXX INDUSTRIES LTD. | |
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By: |
/s/ Xxxx X. Xxxxxxx |
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Name: Xxxx X. Xxxxxxx |
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Title: Corporate Secretary |
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XXXXXX RED LION LIMITED | |
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By: |
/s/ Xxxx X. Xxxxxxx |
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Name: Xxxx X. Xxxxxxx |
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Title: Director |
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C&J ENERGY SERVICES, INC. | |
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By: |
/s/ Xxxxxxx X. XxXxxxxx, Xx. |
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Name: Xxxxxxx X. XxXxxxxx, Xx. |
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Title: President and Chief Financial Officer |
[SIGNATURE PAGE TO EMPLOYEE BENEFITS AGREEMENT]
EXHIBIT A
EXCLUDED RED LION EMPLOYEES
· Xxxxxx Xxxxxxxx
Provided, however, that notwithstanding anything to the contrary in the Merger Agreement, the Separation Agreement or any Ancillary Agreement, Navy and its Subsidiaries acknowledge and agree that Xxxxx shall be permitted to solicit and otherwise hire or retain, as applicable, Xxxxxx Xxxxxxxx for employment with Xxxxx beginning no earlier than the Effective Time or continuing with the Red Lion Group on and after the Effective Time, as applicable.
EXHIBIT B
CONTINUED PARTICIPATION IN CANADIAN EMPLOYEE BENEFIT PLANS
Section 2.4(b) — Canadian Benefit Plans
· Nabors Canada Group Benefit Program
· NPSL Flexible Benefit Plan
· Dental
· Extended Health Care Benefit (Drugs, Health Care Professionals, Medical Supplies and Services, EHC-Hospital, and EHC-Medical and Non-Medical Travel Emergencies)
· Basic life insurance
· Basic accidental death & dismemberment (AD&D)
· Long-term disability
· Survivor benefit
· Employee Assistance
· Optional Benefits
· Critical Illness
· Optional AD&D
· Optional Enhanced Disability (Short- and Long-term)
· Optional Life
· Canadian Vacation Policy
· Paid-Time Off Policy (including sick leave)
EXHIBIT C
DELAYED TRANSFER SERVICE PROVIDERS
Xxxxx XxXxx, Vendor Services
Xxxxxxx Xxxxxxxxx, Vendor Services
Xxxxxxx Xxxx, Catalog Contractor
EXHIBIT D
NAVY SEVERANCE PLAN — NPSL MODIFICATIONS
General Severance Guidance
1. Covered Employees: Management, Exempt Employees, Non-Exempt Salaried employees, Hourly Employees (excluding involuntary terminations for “lack of work” as per Employment Standards Section 55, which an employer may terminate employment without further notice or payments in lieu of notice).
2. “Base Pay” definition mirrors the definition in the Xxxxxx Industries, Inc. Severance Plan
3. Upon an involuntary termination without “just cause,” all covered employees (excluding Hourly Employees terminated for “lack of work,” as noted above) receive the Employment Standards minimum.
4. In addition to the Employment Standards minimum, upon an involuntary termination without “just cause”, covered employees (excluding Hourly Employees) receive an additional “common law” severance amount. Typically, the “common law” severance amounts follow the guideline of 1-2 weeks/year of service for Non-Exempt; 2-3 weeks/year of service for Exempt & Management
5. Benefit continuation may be offered to Management and Exempt employees, up to 1 month.
6. Employees are required to provide a release to NPSL prior to receiving any severance above the Employment Standards minimum.
Alberta Employment Standards Termination Notice
NPSL provides written termination notice (or payment in lieu of notice), as applicable, of the following minimum amounts:
· One week for employment of more than 3 months, but less than 2 years;
· Two weeks for employment of 2 years or more, but less than 4 years;
· Four weeks for employment of 4 years or more, but less than 6 years;
· Five weeks for employment of 6 years or more, but less than 8 years;
· Six weeks for employment of 8 years or more, but less than 10 years; and
· Eight weeks for employment of 10 years or more.