Annual Cash Out. An Annual Leave Cash Out Program (Attendance Incentive Program) shall be implemented as provided for in appropriate state law. On the effective date of this Agreement that program authorized by law is described below. If during the term of this Agreement the Legislature modifies the program as specified below, this Agreement shall be deemed to be amended to conform with such modifications. If during the term of this Agreement, the law authorizing such a program to be negotiated is nullified or repealed, the parties hereby agree that the program outlined herein shall also be nullified, provided the parties agree to immediately negotiate over the issue regarding whether to continue with the same or modified program or to let the Agreement stand with no such program. The Attendance Incentive Program as it exists on the effective date of this Agreement is as follows: In January of the year following any year in which a minimum of sixty (60) days of leave for illness is accrued, and each January thereafter, any eligible employee may exercise an option to receive remuneration for unused leave for illness or injury accumulated in the previous year at a rate equal to one day’s monetary compensation of the employee for each four full days of accrued leave for illness or injury in excess of sixty (60) days. Leave for illness or injury for which compensation has been received shall be deducted from accrued leave for illness or injury at the rate of four (4) days for every one day’s monetary compensation, PROVIDED that no employee may receive compensation under this section for any portion of leave for illness or injury accumulated at a rate in excess of one (1) day per month.
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Samples: core-docs.s3.us-east-1.amazonaws.com, Collective Bargaining Agreement, Collective Bargaining Agreement
