Common use of Severance Amounts Clause in Contracts

Severance Amounts. (i) A Regular Full-time Employee shall be eligible for severance pay in the amount of four (4) weeks regular pay for each full year of continuous employment to a maximum of eighty (80) weeks’ pay. (ii) A Regular Part-time Employee shall be eligible for severance pay in the amount of four (4) weeks regular pay for each full period of one thousand eight hundred thirteen and one-half (1,813 ½) hours worked at the Basic Rate of Pay to a maximum of eighty (80) weeks’ pay. (iii) Regular pay shall be defined as regularly scheduled hours of work as at the date on which notice of layoff is issued (which for the purpose of clarity means regularly scheduled hours of work exclusive of overtime hours, call-back hours and additional hours for Part-time Employees) X Basic Rate of Pay (which for the purpose of clarity means Basic Rate of Pay exclusive of overtime payments and premium payments). (iv) For purposes of severance, continuous employment will be calculated from the last date of hire recognized with the Employee’s current Employer and shall exclude all absences in excess of thirty (30) days.

Severance Amounts. (ia) A Regular Full-time Employee shall be eligible for severance pay in the amount of four (4) weeks regular pay for each full year of continuous employment to a maximum of eighty (80) weeks’ pay. (iib) A Regular Part-time Employee shall be eligible for severance pay in the amount of four (4) weeks regular pay for each full period of one thousand eight hundred thirteen and one-half (1,813 ½) hours worked at the Basic Rate of Pay to a maximum of eighty (80) weeks’ pay. (iiic) Regular pay shall be defined as regularly scheduled hours of work as at the date on which notice of layoff is issued (which for the purpose of clarity means regularly scheduled hours of work exclusive of overtime hours, call-back hours and additional hours for Part-time Employees) X Basic Rate of Pay (which for the purpose of clarity means Basic Rate of Pay exclusive of overtime payments and premium payments). (ivd) For purposes of severance, continuous employment will be calculated from the last date of hire recognized with the Employee’s current Employer and shall exclude all absences in excess of thirty (30) days.