Notice and Severance Pay Clause Samples

Notice and Severance Pay. Either party may terminate this Employment Agreement at any time upon sixty (60) days written notice provided that, (i) If the Company should terminate such employment other than pursuant to subparagraph 5(c) “Termination for Cause”, the Executive shall be entitled to “Severance Pay” an amount equal to: (a) The full base Compensation that he was receiving immediately before his termination for a Term of twelve (12) months according to the Employment Agreement (b) Continuation of Benefits afforded regular employees of the Company for the severance pay period as defined in 5(a) A Bonus each year of the severance pay period (pro rated for partial years) equal to the bonus received by the Executive for the year preceding the year in which termination occurs. (ii) If Executive is terminated following a “Change In Control” as set forth in Paragraph 5(a), the Company shall pay Executive Severance Pay equal to two (2) times the Base Compensation that he is receiving immediately before his termination, and agrees to release all stock agreed to in section “G” Equity, in full.

Notice and Severance Pay. (a) Any regular employee who is laid off will receive written notice of layoff and severance pay as follows: i) employees who have less than three (3) years service with the Corporation since the last date of hire will receive two (2) calendar weeks written notice. ii) employees who have three (3) or more years service with the Corporation since the last date of hire will receive four (4) calendar weeks written notice. Any regular employee who has received written notice of layoff in accordance with the foregoing and who does not or is unable to elect bumping rights under Article 8.02 will be laid off with severance pay, subject to a maximum of fifty-two (52) weeks, as follows: i) three weeks pay for employees with up to two (2) full years service. ii) two weeks pay for each full year of service in excess of two (2) years, up to five (5) years. iii) three weeks pay for each full year of service in excess of five (5) years. (b) A regular employee who receives severance pay, if she/he returns to work for the Corporation, will reimburse the Corporation for any portion of severance pay which exceeds the period of layoff prior to her/his return to work. An employee who receives severance pay because of more than one layoff shall not receive total severance pay which will exceed the amount of severance entitlement defined in 8.03(a) (i.e. severance pay is not cumulative with each layoff).

Notice and Severance Pay. Any employee who is laid off will receive written notice of layoff and severance pay of 1 weeks pay per year of service.

Notice and Severance Pay. Where the Association is to lay off a regular employee, it will provide two (2) weeks’ notice. The Association may at its discretion provide additional notice time. The employee during this two (2) week period will determine the following: i) If the employee would like to displace an employee in accordance with the provisions of article 7.02; or ii) Be placed on the layoff list for recall. Employees on the layoff list will be offered available temporary shifts on the basis of seniority, provided the employee has the qualifications, skills and demonstrated ability to do the job; or iii) Accept severance pay, thereby terminating their employment. Notwithstanding Article 7.02, severance pay shall be equivalent to one (1) week for each full year of service completed since the commencement of the employee’s seniority date to a maximum of twenty-eight (28) weeks. The amount of any severance payment will be reduced by any additional notice time provided by the Association and taken by the employee who exceeds as noted above, the two (2) week notice period. An employee may choose to receive a severance payment while on layoff awaiting recall. Employees who do not return to work within the appropriate time frame as set out in 4.03(d) will be entitled to severance pay, the calculation taking into account any additional notice time that may have occurred.

Notice and Severance Pay. Fixed-term appointments may be subject to notice and/or severance pay in accordance with the following:

Notice and Severance Pay. 14.2.1 When an employee, other than a three-month probationary employee, is terminated for reasons unrelated to discipline, Brescia will provide the employee with advance notice (or pay in lieu of notice) in accordance with Appendix D and the Employment Standards Act. 14.2.2 Members are entitled to severance pay if the individual has worked at Brescia for 5 years or more. Severance pay shall be paid at a rate of 2 weeks per year of services plus any incomplete years of service to a maximum of 26 weeks. For complete Severance Pay formula, see Appendix D.

Notice and Severance Pay. (a) NoticeÑWhere a regular employee is to be laid off from the Agency, after having successfully completed the probation period, because of a reason provided for in 12.1 of this Article, twenty (20) work daysÕ notice or pay in lieu thereof shall be given. (b) Severance payÑAt the time of layoff the employee shall elect to retain seniority for recall purposes, or to take severance pay in which case 12.5 (c) of this Article shall apply. The severance pay would be two (2) weeksÕ pay per year of completed service, to a maximum of twenty-four (24) weeksÕ pay after twelve (12) or more years of completed service.

Notice and Severance Pay. 56.5.1 The Director will give a Teacher who has been made redundant (either voluntarily or compulsory) the notice outlined in clause 60 (Termination of employment). 56.5.2 A Teacher who is made redundant under this clause will be paid severance pay according to the following scale: Period of continuous service (as defined) Severance Pay less than 1 year Nil 1 year but less than 2 years 4 weeks' pay 2 years but less than 3 years 7 weeks' pay 3 years but less than 4 years 10 weeks' pay 4 years but less than 5 years 12 weeks' pay 5 years but less than 7 years 14 weeks' pay 7 years but less than 10 years 16 weeks' pay 10 years but less than 15 years 18 weeks' pay 15 years or more 20 weeks' pay 56.5.3 A Teacher over the age of forty-five (45) years at the commencement of the year in which the redundancy applies will receive an additional 25% of the amount of their severance pay entitlement in sub-clause 56.5.2. 56.5.4 The severance pay for part time staff will be based on the average time fraction worked during their period of teaching at Foundation Year. 56.5.5 The severance pay entitlement of a Teacher, subject to normal PAYG provisions applying at the time, will be paid as a lump sum on the last day of employment, along with any other accrued entitlements of the Teacher. 56.5.6 The College will provide the Teacher with a written statement or pay advice slip detailing how the monetary entitlement on termination is calculated. 56.5.7 This clause shall not apply:

Notice and Severance Pay. 12.3.1 An employee who is to be made redundant will receive notice of termination or payment in lieu thereof as set out in clause 13.4