Common use of 500-750 hour bank Clause in Contracts

500-750 hour bank. Any employee who, as of January 1 of each year, has a sick leave account of five hundred (500) to seven hundred fifty (750) hours shall first have any sick leave used in the immediately preceding payroll year deducted from the sick leave which he/she earned during that year and, as to any remaining unused sick leave from that year, he/she may elect on or before November 30 of each year to be paid for seventy-two (72) of those hours. Any unused sick leave hours still remaining from that year shall be added to his/her sick leave account.

500-750 hour bank. Any employee who, as of January 1 of each year, has a sick leave account of five hundred (500) to seven hundred fifty (750) hours shall first have any sick leave used in the immediately preceding payroll year deducted from the sick leave which he/she he earned during that year and, as to any remaining unused sick leave from that year, he/she he may elect on or before November 30 of each year to be paid for seventy-two (72) of those hours. Any unused sick leave hours still remaining from that year shall be added to his/her his sick leave account.