The US plan is written down as follows;
Severance Benefits:
Severance Pay;
Medical, dental, vision and health care flexible spending account benefits;
Career Transition Services;
Incentive Compensation Payments (subject to the terms of the incentive plan).
Severance Pay will be paid in the form of salary continuance in accordance with the Company’s normal payroll cycle.
Severance Pay is based on band and years and months of Completed Service. An Eligible Employee will receive 2 weeks’ severance pay per year of completed service at his or her Base Salary as of the Termination Date, with a maximum of 52 weeks of severance and a minimum number of weeks of severance that varies based on the Eligible Employee’s Band, but in no event less than 8 weeks of severance.
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