Common use of Table of Payments Clause in Contracts

Table of Payments. Period of Service Payment in Lieu of Notice (Weeks) Severance Pay (Weeks) Total Weeks Pay Add for Over 45 Years of Age (Weeks) Total Over 45 Years of Age (Weeks) 1 year 4 4 8 2 10 2 years 4 8 12 2 14 3 years 4 12 16 2 18 4 years 4 16 20 2 22 5 years 4 20 24 2 26 6 years 4 24 28 2 30 7 years 4 28 32 2 34 8 years 4 32 36 2 38 9 years 4 36 40 2 42 10 years and over 4 40 44 2 46 NOTE: Payment of severance pay shall be calculated on a pro-rata basis of 1 week for each completed period of 3 months continuous service, e.g. 3 years and 10 months continuous service would be calculated as 3.75 years for the purposes of this clause and would attract the following benefits: 4 weeks in lieu of notice 4 3 years x 4 weeks 12 3 quarters x 1 week 3

Table of Payments. Period of Service Payment in Lieu of Notice (Weeks) Severance Pay (Weeks) Total Weeks Pay Add for Over 45 Years of Age (Weeks) Total Over 45 Years of Age (Weeks) 1 year 4 4 8 2 10 2 years 4 8 12 2 14 3 years 4 12 16 2 18 4 years 4 16 20 2 22 5 years 4 20 24 2 26 6 years 4 24 28 2 30 7 years 4 28 32 2 34 8 years 4 32 36 2 38 9 years 4 36 40 2 42 10 years and over 4 4 40 44 2 46 NOTE: Payment of severance pay shall be calculated on a pro-rata basis of 1 week for each completed period of 3 months continuous service, e.g. 3 years and 10 months continuous service would be calculated as 3.75 years for the purposes of this clause and would attract the following benefits: 4 weeks in lieu of notice 4 3 years x 4 weeks 12 3 quarters x 1 week 33 19 weeks