Common use of Acceptance of Severance Pay Clause in Contracts

Acceptance of Severance Pay. It is understood and agreed that at such time as a regular employee accepts severance pay, and the severance pay is paid in full, the employee's employment shall be terminated and such employee shall have no further rights or entitlements under this Agreement, except for the following: (i) any vested rights or entitlements under the Pension Plan; and (ii) any other accrued benefits or entitlements not paid to the employee at the time of termination of employment; and (iii) continuation of any coverage the employee is entitled to receive, subsequent to the employee’s termination, under any benefit plan referred to in this Agreement.

Acceptance of Severance Pay. It is understood and agreed that at such time as a regular employee accepts severance pay, and the Regular Employee’s severance pay is paid in full, the employee's ’s employment shall be terminated and such employee shall have no further rights or entitlements under this Agreement, except for the following: (i) any vested rights or entitlements under the Pension Retirement Plan; and (ii) any other accrued benefits or entitlements not paid to the employee at the time of termination of employment; and (iii) continuation of any coverage the employee is entitled to receive, subsequent to the employee’s his termination, under any benefit plan referred to in this Agreement.

Acceptance of Severance Pay. It is understood and agreed that at such time as a regular employee accepts severance pay, and the severance pay is paid in full, the employee's employment shall be terminated and such employee shall have no further rights or entitlements under this Agreement, except for the following: (i) any vested rights or entitlements under the Pension Plan; and (ii) any other accrued benefits or entitlements not paid to the employee at the time of termination of employment; and (iii) continuation of any coverage the employee is entitled to receive, subsequent to the employee’s his termination, under any benefit plan referred to in this Agreement.

Acceptance of Severance Pay. It is understood and agreed that at such time as a regular employee accepts severance pay, and the severance pay is paid in full, the employee's employment shall be terminated terminated, and such employee shall have no further rights or entitlements under this Agreement, except for the following: (i) any vested rights or entitlements under the Pension Plan; and (ii) any other accrued benefits or entitlements not paid to the employee at the time of termination of employment; and (iii) continuation of any coverage the employee is entitled to receive, subsequent to the employee’s their termination, under any benefit plan referred to in this Agreement.