Common use of Additional Severance Pay Clause in Contracts

Additional Severance Pay. (a) This clause applies to employees aged over 45 years with 10 years or more continuous service. (b) In addition to the severance pay in clause 5.6.6, an employee with not less than 10 years continuous service, who is over the age of 45 years, is entitled to an additional 4 weeks severance pay. (c) The severance payment need not exceed the amount which the employee would have earned if employment with the CWT had proceeded to the employee's agreed date of retirement or the employee's eligibility date for social security benefits. (d) The CWT may apply to the Commission for an order allowing the off-setting of all or part of an employee’s entitlement to severance payment on the basis that such payment or part thereof is already provided for or included in the contributions which the employer has made over an above those required by law to a superannuation scheme and which are paid or payable to the employee on redundancy occurring.

Additional Severance Pay. (a) This clause applies to employees aged over 45 years with 10 years or more continuous service. (b) In addition to the severance pay in clause 5.6.6, an employee with not less than 10 years continuous service, who is over the age of 45 years, is entitled to an additional 4 weeks severance pay. (c) The severance payment need not exceed the amount which the employee would have earned if employment with the CWT had proceeded to the employee's employee‟s agreed date of retirement or of the employee's employee‟s eligibility date for social security benefits. (d) The CWT may apply to the Commission for an order allowing the off-setting of all or part of an employee’s employee‟s entitlement to severance payment on the basis that such payment or part thereof is already provided for or included in the contributions which the employer has made over an and above those required by law to a superannuation scheme and which are paid or payable to the employee on redundancy occurring.