Section 170-15-IV - Calculation of Severance PayA. An employer terminating or relocating a covered establishment shall pay each eligible employee one-week's pay for each full year that the eligible employee has worked at the establishment regardless of prior ownership of the establishment. B. The years worked will be calculated from the most recent date of hire or date of rehire, in case of a break in employment, to the last date the eligible employee worked at the covered establishment.C. The employer may only discount the severance pay by any voluntary and unconditional payments made to the eligible employee, except that premiums or bonuses offered to encourage employees to maintain employment through the termination or relocation period may not be used to discount severance. The employer may discount the severance pay by any payments made under a contract that provides for severance pay.12- 170 C.M.R. ch. 15, § IV