Period of Continuous Service Severance Pay Sample Clauses
The 'Period of Continuous Service Severance Pay' clause defines how severance pay is calculated based on the length of uninterrupted employment an employee has with an organization. Typically, this clause outlines that employees who are terminated without cause are entitled to a certain amount of severance pay, which increases with each year of continuous service. For example, an employee with five years of service may receive more severance than one with only one year. The core function of this clause is to ensure fair compensation for employees who lose their jobs, reflecting their loyalty and tenure, and to provide a clear, predictable method for determining severance obligations.
Period of Continuous Service Severance Pay. Less than 1 year Nil 1 year and more, but less than 2 years 4 week’s pay 2 years and more, but less than 3 years 7 week’s pay 3 years and more, but less than 4 years 10 week’s pay 4 years and more, but less than 5 years 12 week’s pay 5 years and more, but less than 6 years 14 week’s pay 6 years and more 16 week’s pay
Period of Continuous Service Severance Pay. Less than 1 Year Nil 1 Year and Less than 2 Years 4 Weeks Pay 2 Years and Less than 3 Years 6 Weeks Pay 3 Years and Less than 4 Years 7 Weeks Pay 4 Years and Less than 5 Years 8 Weeks Pay 5 Years and Less than 6 Years 10 Weeks Pay 6 Years and Less than 7 Years 11 Weeks Pay 7 Years and Less than 8 Years 13 Weeks Pay 8 Years and Less than 9 Years 14 Weeks Pay 9 Years and over 16 Weeks Pay
Period of Continuous Service Severance Pay. Less than 1 year Nil Over 1 year of service 4 weeks ordinary pay for each completed year of service to a maximum of 52 weeks
Period of Continuous Service Severance Pay. Less than 1 year Nil 1 year and less than 2 years 4 weeks' pay 2 years and less than 3 years 6 weeks' pay 3 years and less than 4 years 7 weeks' pay 4 years and less than 5 years 8 weeks' pay 5 years and less than 6 years 10 weeks' pay 6 years and less than 7 years 11 weeks' pay 7 years and less than 8 years 13 weeks' pay 8 years and less than 9 years 14 weeks' pay 9 years and less than 10 years 16 weeks' pay 10 years and over 12 weeks' pay
Period of Continuous Service Severance Pay. Less than 1 year Nil 1 year and up to the completion of 2 years 4 weeks’ pay 2 years and up to the completion of 3 years 6 weeks’ pay 3 years and up to the completion of 4 years 7 weeks’ pay 4 years but not more than 5 years 8 weeks’ pay 5 years but not more than 6 years 9 weeks’ pay 6 years but not more than 7 years 10 weeks’ pay 7 years but not more than 8 years 11 weeks’ pay 8 years but not more than 9 years 12 weeks’ pay 9 years but not more than 10 years 13 weeks’ pay 10 years but not more than 11 years 14 weeks’ pay 11 years but not more than 12 years 15 weeks’ pay More than 12 years 16 weeks’ pay
Period of Continuous Service Severance Pay. Less than 1 year 2 weeks' pay 1 year but less than 2 4 weeks' pay 2 years but less than 3 6 weeks' pay 3 years but less than 4 9 weeks' pay 4 years but less than 5 12 weeks' pay For employees with more than 5 but less than 10 completed years of service, Severance Pay will be calculated at 3 weeks per completed year of service (not part thereof), as follows: Period of Continuous Service Severance Pay 5 years but less than 6 15 weeks' pay 6 years but less than 7 18 weeks' pay 7 years but less than 8 21 weeks' pay 8 years but less than 9 24 weeks' pay 9years but less than 10 27 weeks' pay For employees with 10 completed years of service, an additional 1 week’s Severance Pay per completed year of service in excess of 10 will apply until a maximum of 59 weeks is reached at 18 years of service. For employees with 18 or more completed years of service, an additional 4 weeks will be paid making a maximum payment of 63 weeks’ Severance Pay in respect of any employee. This will be paid in accordance with the following table: Period of Continuous Service Severance Pay 10 years but less than 11 31 weeks' pay 11 years but less than 12 35 weeks' pay 12 years but less than 13 39 weeks' pay 13 years but less than 14 43 weeks' pay 14 years but less than 15 47 weeks' pay 15 years but less than 16 51 weeks' pay 16 years but less than 17 55 weeks' pay 17 years but less than 18 59 weeks' pay 18 years or more 63 weeks' pay (maximum)
Period of Continuous Service Severance Pay. 1 year or less Nil 1 year and up to the completion of 2 years 4 weeks’ pay 2 years and up to the completion of 3 years 6 weeks’ pay 3 years and up to the completion of 4 years 7 weeks’ pay 4 years and over 8 weeks’ pay Week’s pay means the ordinary time rate of pay at the time of termination for the employee concerned and excludes overtime, penalty rates, consolidated disability allowance, shift allowance, bonuses and any other ancillary payments. Provided that the severance payments will not exceed the amount which the employee would have earned if employment with the company had proceeded to the employee’s normal retirement date.
Period of Continuous Service Severance Pay. Less than 1 year Nil 1 year and less than 2 years 4 weeks pay 2 years and less than 3 years 6 weeks pay 3 years and less than 4 years 7 weeks pay 4 years and less than 5 years 8 weeks pay 5 years and less than 6 years 10 weeks pay 6 years and less than 7 years 11 weeks pay 7 years and less than 8 years 12 weeks pay 8 years and less than 9 years 12 weeks pay 9 years and less than 10 years 12 weeks pay 10 years and less than 11 years 13 weeks pay 11 years and less than 12 years 13 weeks pay 12 years and less than 13 years 13 weeks pay 13 years and less than 14 years 14 weeks pay 14 years and less than 15 years 14 weeks pay 15 years and less than 16 years 15 weeks pay 16 years and less than 17 years 16 weeks pay 17 years and less than 18 years 17 weeks pay 18 years and less than 19 years 18 weeks pay 19 years and less than 20 years 19 weeks pay 20 years and less than 21 years 20 weeks pay 21 years and less than 22 years 21 weeks pay 22 years and less than 23 years 22 weeks pay 23 years and less than 24 years 23 weeks pay 24 years and less than 25 years 24 weeks pay 25 years and less than 26 years 25 weeks pay 26 years and onwards 26 weeks pay For service above 26 years, a (capped) payment of 26 weeks shall apply.
Period of Continuous Service Severance Pay. Less than 1 year Nil 1 year but less than 2 years 4 weeks 2 years but less than 3 years 6 weeks 3 years but less than 4 years 7 weeks 4 years but less than 5 years 8 weeks 5 years but less than 6 years 10 weeks 6 years but less than 7 years 11 weeks 7 years but less than 8 years 13 weeks 8 years but less than 9 years 14 weeks 9 years but less than 10 years 16 weeks 10 years and over 18 weeks Provided that the severance payments shall not exceed the amount which the employee would have earned if employment with the employer had proceeded to the employee's normal retirement date
Period of Continuous Service Severance Pay. Up to 1 year and less than 2 years Only 4 weeks 2 years or more 3 weeks per year on a pro rata basis (per completed month) for every year of service up to a maximum of 52 weeks. For employees aged 45 years or more an additional 8 weeks redundancy payment will apply in addition to the above table. Pro-rata long service leave will be paid after 5 years of completed service if a redundancy is offered to an employee.