Common use of Annual Buyback Clause in Contracts

Annual Buyback. Effective April 1, 2012, sick leave in excess of two hundred forty (240) hours may be cashed in at 50% up to the greater of the maximum number of accrued but unused sick leave hours as of December 31, 2011 or 900 hours at the employee’s regular hourly rate.

Annual Buyback. Effective April 1, 2012, sick leave in excess of two hundred forty (240) hours hours) may be cashed in at 50% up to the greater of the maximum number of accrued but unused sick leave hours as of December 31, 2011 or 900 600 hours at the employee’s regular hourly rate.